Name of City and/or County:
Joplin
Name of Plan or Project:
North park Crossing TIF Plan
Report Period:
2010-11-01 00:00:00 to 2011-10-31 00:00:00
Name of the Person Who Prepared this Annual Report:
Leslie Jones
City or County Contact Agency:
Leslie Jones, Finance Director
Private Sector Developer:
Jeffrey L. Ungerer
Person:
Jeffrey L. Ungerer
Original Date Plan/Project Approved:
2004-06-07 00:00:00
Ordinance Number:
2004-134
Most Recent Plan Amendment:
School District:
Joplin R-8 School District
31.08ac located south of 3rd Street, west of the Rolling Acres Addition subdivision, north of East 7th Street and east of MO-71 Hwy in Joplin, Jasper County.
Description of Plan/Project:
TIF has been used to enhance existing and to construct new infrastructure and other amenities to support private infill redevelopment of the Area.
Plan/Project Status:
Fully operational
How was the "but-for" Determination Made?:
The Projects required significant public infrastructure investment to remedy existing inadequate conditions.
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 New Jobs:
500
Estimate of Retained Jobs:
97
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$916,804.54
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$3,876,842.70
Amount on Hand:
$0.00
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:
$4,758,511.00
$706,713.00
AMOUNT PAID ON DEBT SERVICES:
Payments of principal and interest on outstanding bonded debt:
This Reporting Period:
$0.00
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:
$8,370,900.00
Property Acquisition and Relocation Costs:
$1,450,000.00
Project Implementation Costs:
$275,000.00
Total Anticipated TIF Reimbursable Project Costs:
$15,949,034.00
ANTICIPATED TOTAL PROJECT COSTS:
$60,167,947.00
TIF FINANCING METHOD:
Pay-as-you-go
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:
$422,470.00
Assessed Valuation Added to the Redevelopment Project:
$3,919,680.00
Anticipated Assessed Value at Time of District Termination:
$8,000,000.00
Total Amount of Base Year EATs:
$528,448.00
Total Amount of Base Year PILOTs:
$21,946.00
Total Annual EATs Anticipated at Time of District Termination:
$938,817.00
Total Annual PILOTs Anticipated at Time of District Termination:
$229,153.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
23
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
23
