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Section 1: Description of the Plan and Project

Name of City and/or County:

Hannibal

Name of Plan or Project:

Stardust Munger Diamond Redevelopment Project

Report Period:

2011-07-01 00:00:00 to 2012-06-30 00:00:00

Name of the Person Who Prepared this Annual Report:

Development Dynamics, LLC

Contact Information:

City or County Contact Agency:

Douglas Warren, Director of Finance

Phone:

573-221-0111

Private Sector Developer:

The Marion County Development

Person:

Michael Stainbert

Phone:

Original Date Plan/Project Approved:

2001-12-01 00:00:00

Ordinance Number:

4200; 4146; 4147; 4148

Most Recent Plan Amendment:

5/2002

Ordinance Number:

4245

State House District:

State Senate District:

School District:

Hannibal School District

Location:

The Project is located in the city of Hannibal.

Description of Plan/Project:

Development of a multi-function shopping center as an economic development tool for job creation and economic stimulation.

Plan/Project Status:

Fully operational, closed out

Area Type:

Blight

How was the "but-for" Determination Made?:

Unusual and extraordinary costs made the project financially unfeasible in the market.

Number of Relocated Residences During This Report Period:

Number of Relocated Businesses During This Report Period:

Number of Parcels Acquired Through Use of Eminent Domain Power During This Report Period:

Identify Any Businesses That Have Relocation to the Redevelopment Area During this Report Period:

Name	Address	New or Relocated?
Advance America	3650 Stardust Drive	New
Bath & Body Works, LLC	3650 Stardust Drive	New
CPI Images, LLC	3650 Stardust Drive	New
Dollar Tree Stores	3650 Stardust Drive	New
Gamestop	3650 Stardust Drive	New
Grover, LLC d/b/a Subway	3654 Stardust Drive	New
HNB Bank/Perry State Bank	3652 Stardust Drive	New
Maurice's, Inc.		New
MI Mexico Café	3650 Stardust Drive	New
Murphy USA	3660 Stardust Drive	New
Nancy Harris Office	3651 Stardust Drive	New
Pookie, Inc d/b/a Great Clips	3650 Stardust Drive	New
Q Nails	3653 Stardust Drive	New
Redbox Movie Rental	3651 Stardust Drive	New
Sally Beauty Supply	3650 Stardust Drive	New
Shoe Show, Inc.	3650 Stardust Drive	New
US Cellular of Greater Missouri	3650 Stardust Drive	New
Wal-Mart	3650 Stardust Drive	New

Estimate of New Jobs:

Actual To Date:

Estimate of Retained Jobs:

Actual To Date:

Section 2: Tax Increment Financing Revenues

TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:

Payments in Lieu of Taxes (PILOTs):

Total Received since inception:

$2,561,162.00

Amount on Hand:
(As of Report Date)

$0.00

Economic Activity Taxes (EATs):

Total Received since inception:

$6,518,881.00

Amount on Hand:
(As of Report Date)

$0.00

Total Revenue on hand in the Special Allocation Fund as of Report Date:

$0.00

EXPENDITURES FOR TOTAL PROJECT COSTS FUNDED BY TIF:

Total Since Inception:

Report Period Only:

Public Infrastructure (streets, utilities, etc):

$1,370,000.00

$0.00

Site Development (grading, dirt moving, etc):

$2,805,000.00

$0.00

Rehab of Existing Buildings:

$0.00

Acquisition of Land or Buildings:

$2,875,000.00

$0.00

Other:

$2,148,286.00

$0.00

AMOUNT PAID ON DEBT SERVICES:

Payments of principal and interest on outstanding bonded debt:

Since Inception:

$7,019,686.00

This Reporting Period:

$0.00

Reimbursement of developer for eligible cost:

Since Inception:

$0.00

This Reporting Period:

$0.00

Reimbursement to city/county (or other public entity) for eligible costs:

Since Inception:

$0.00

This Reporting Period:

$0.00

ANTICIPATED TIF REIMBURSEMENT COSTS:

Public Infrasture and Site Development Costs:

$0.00

Property Acquisition and Relocation Costs:

$0.00

Project Implementation Costs:

$0.00

Other:

$187,606.00

Other:

$0.00

Total Anticipated TIF Reimbursable Project Costs:

$4,950,000.00

ANTICIPATED TOTAL PROJECT COSTS:

$9,500,000.00

TIF FINANCING METHOD:

TIF Bond; TDD Bond

MATURITY OF TIF OBLIGATIONS:

Original Estimate (# of Years to Retirement):

Current Anticipated Estimate (# of Year to Retirement):

ESTIMATED INCREASE IN TAX GENERATION:

Original Assessed Value of the Redevelopment Project:

$3,963,690.00

Assessed Valuation Added to the Redevelopment Project:

$8,196,240.00

Anticipated Assessed Value at Time of District Termination:

$16,343,060.00

Total Amount of Base Year EATs:

$0.00

Total Amount of Base Year PILOTs:

$233,119.00

Total Annual EATs Anticipated at Time of District Termination:

$3,854,000.00

Total Annual PILOTs Anticipated at Time of District Termination:

$5,646,000.00

Percentage of EATs Captured:

50%

Total Years Anticipated to Capture EATs:

Percentage of PILOTs Captured:

100%

Total Years Anticipated to Capture PILOTs:

The Office of Missouri State Auditor

Scott Fitzpatrick

Stardust Munger Diamond Redevelopment Project

Section 1: Description of the Plan and Project

Section 2: Tax Increment Financing Revenues