Arnold Triangle Redevelopment Plan
Section 1 Description of the Plan and Project  
Name of City and/or County: Arnold  
Name of Plan or Project: Arnold Triangle Redevelopment Plan  
Report Period: 09/01/2012 to 08/31/2013  
Name of the person who prepared this annual report: Deborah Lewis, Finance Director  
Contact Information:    
City or County Contact Agency: Matthew Unrein, City Administrator  
Phone: 636-282-6666  
Private Sector Developer: THF Arnold Triangle Development, LLC  
Person: Eddie Cherry  
Phone: 314-429-0900  
Original Date Plan/Project Approved: 09/15/2005  
Ordinance Number: 14.376  
Most Recent Plan Amendment:  
Ordinance Number: 14.439  
State House District: 101  
State Senate District: 22  
School District Fox C-6  
Location:    
An area located at the SW corner of interstate 55 and Mo Hwy 141 generally bounded on the south by Church Rd and on the West by Old Lemay Ferry Road.  
Description of Plan/Project:    
Development of fifty (50) acres of existing commercial and residential property for retail and commercial purposes.  
Plan/Project Status: Fully- Operational
Area Type: Blight  
How was the "but-for" determination made?:    
Project had unusual/extraordinary costs making it financially unfeasible in the market place and required significant public infrastructure investment to remedy exisiting inadequate conditions and required parcel assembly.  
Number of Relocated Residences During This Report Period: 0    
Number of Relocation Businessess During This Report Period: 0    
Number of Parcels Acquired Through Use of Eminent Domain Power During This Report Period: 0    
Identify any business that have relocation to the Redevelopment Area during this report period:    
Name Address Phone Number New or Relocated? Rel. from What City/County
none
Estimate of New Jobs: 300 Actual To Date: 783
Estimate of Retained Jobs: 5 Actual To Date: 5
     
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: $3,513,760.66 Amount on Hand: $48,623.48
    (As of Report Date)  
Economic Activity Taxes (EATs):      
Total received since inception: $8,328,201.82 Amount on Hand: $21,027.60
    (As of Report Date)  
       
Total Revenue on hand in the Special Allocation Fund as of Report Date: $69,651.08
   
EXPENDITURES FOR TOTAL PROJECT COSTS FUNDED BY TIF: Total Since Inception: Report Period Only:
Public Infrastructure (streets, utilities, etc): $0.00 $0.00
Site Development (grading, dirt moving, etc): $0.00 $0.00
Rehab of existing buildings: $0.00 $0.00
Acquisition of land or buildings: $0.00 $0.00
Other: $1,667,350.82 $120,033.66
AMOUNT PAID ON DEBT SERVICES:    
Payments of principal and interest on outstanding bonded debt:    
Since Inception: $9,445,981.63 This Reporting Period: $2,539,670.44
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: $10,000,000.00  
Project Implementation Costs: $11,000,000.00  
Other: $0.00  
Other: $0.00  
Total Anticipated TIF Reimbursable Project Costs $21,000,000.00  
     
ANTICIPATED TOTAL PROJECT COSTS: $90,000,000.00  
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: $1,700,400.00  
Assessed valuation added to the redevelopment project: $12,501,000.00  
Anticipated Assessed Value at Time of District Termination: $12,712,094.00  
Total Amount of Base Year EATs: $25,002.32  
Total Amount of Base Year PILOTs: $128,213.00  
Total Annual EATs Anticipated at Time of District Termination: $3,494,086.00  
Total Annual PILOTs Anticipated at Time of District Termination: $878,007.00  
Percentage of EATs Captured: 50%  
Total Years Anticipated to Capture EATs: 23
Percentage of PILOTs Captured: 100%  
Total Years Anticipated to Capture PILOTs: 23