Name of City and/or County:
Sedalia
Name of Plan or Project:
Sedalia Midtown TIF Redevelopment Plan & Project
Report Period:
8/1/2012 0:00 to 7/31/2013 0:00
Name of the Person Who Prepared this Annual Report:
John H. Simmons
City or County Contact Agency:
City of Sedalia
Phone:
660-827-3000 ext 127
Private Sector Developer:
N/A
Original Date Plan/Project Approved:
11/17/2008 0:00
Most Recent Plan Amendment:
School District:
Sedalia 200 School District
The Sedalia Midtown Redevelopment Area contains approximately 163 acres of land and encompasses a large portion of the historic downtown. The area is bounded generally by 9th Street and Broadway Avenue on the south, Moniteau Avenue on the west, Marvin St
Description of Plan/Project:
The redevelopment plan focuses resources to provide opportunities for infrastructure development and rehabilitations, residential reinvestment, and private investment.
How was the "but-for" Determination Made?:
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:
0
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$108,625.64
Amount on Hand: (As of Report Date)
$108,777.08
Economic Activity Taxes (EATs):
Total Received since inception:
$3,757.00
Amount on Hand: (As of Report Date)
$3,757.92
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:
$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:
$5,000,000.00
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$0.00
Total Anticipated TIF Reimbursable Project Costs:
$0.00
ANTICIPATED TOTAL PROJECT COSTS:
$5,000,000.00
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:
$4,526,543.00
Assessed Valuation Added to the Redevelopment Project:
$1,434,200.00
Anticipated Assessed Value at Time of District Termination:
$7,304,432.00
Total Amount of Base Year EATs:
$904,000.00
Total Amount of Base Year PILOTs:
$296,226.00
Total Annual EATs Anticipated at Time of District Termination:
$538,553.00
Total Annual PILOTs Anticipated at Time of District Termination:
$157,800.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
23
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
23