Name of City and/or County:
Carrollton
Name of Plan or Project:
NE Hwy 65 & Municipal DR. Phase 1&2 Redevelopment
Report Period:
2011-07-01 00:00:00 to 2012-06-30 00:00:00
Name of the Person Who Prepared this Annual Report:
Terry Bell
City or County Contact Agency:
Terry Bell, Deputy City Clerk
Private Sector Developer:
Aashay Enterprises & Agro International
Person:
Vinnie Patel & Frank Kruse
Phone:
816-318-4376 / 816-532-3645
Original Date Plan/Project Approved:
1997-11-06 00:00:00
Most Recent Plan Amendment:
4/15/2002
School District:
Carrollton R-7 School District
A Site in the Carrollton Industrial Park property frontage east of US 65 Hwy in northeastern Carrollton.
Description of Plan/Project:
New development of businesses including a Conoco/Sinclair service station and Smartmart convenience store, Super 8 Motel and a Pizza Hut Restaurant.
Plan/Project Status:
Fully operational
How was the "but-for" Determination Made?:
Unusual/extraordinary costs made projects financially unfeasible in the market, required significant public infrastructure investment to remedy existing inadequate conditions and capacity to support development and required property ass'y and/or relo cost
Number of Relocated Residences During This Report Period:
0
Number of Relocated Businesses During This Report Period:
0
Number of Parcels Acquired Through Use of Eminent Domain Power During This Report Period:
0
Identify Any Businesses That Have Relocation to the Redevelopment Area During this Report Period:
Estimate of Retained Jobs:
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
Amount on Hand: (As of Report Date)
Economic Activity Taxes (EATs):
Total Received since inception:
Amount on Hand: (As of Report Date)
Total Revenue on hand in the Special Allocation Fund as of Report Date:
EXPENDITURES FOR TOTAL PROJECT COSTS FUNDED BY TIF:
Total Since Inception:
Report Period Only:
Public Infrastructure (streets, utilities, etc):
Site Development (grading, dirt moving, etc):
Rehab of Existing Buildings:
Acquisition of Land or Buildings:
AMOUNT PAID ON DEBT SERVICES:
Payments of principal and interest on outstanding bonded debt:
This Reporting Period:
$34,989.01
Reimbursement of developer for eligible cost:
This Reporting Period:
$0.00
Reimbursement to city/county (or other public entity) for eligible costs:
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
Total Anticipated TIF Reimbursable Project Costs:
ANTICIPATED TOTAL PROJECT COSTS:
TIF FINANCING METHOD:
TIF Bond
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
23
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$201,820.00
Assessed Valuation Added to the Redevelopment Project:
$0.00
Anticipated Assessed Value at Time of District Termination:
$409,104.00
Total Amount of Base Year EATs:
$3,367.79
Total Amount of Base Year PILOTs:
$9,458.53
Total Annual EATs Anticipated at Time of District Termination:
$5,200.00
Total Annual PILOTs Anticipated at Time of District Termination:
$10,400.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
23
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
23