Name of City and/or County:
West Plains
Name of Plan or Project:
S. U.S. Hwy 160 Corridor/Porter Wagoner Bl. R.P.
Report Period:
4/1/2012 0:00 to 3/31/2013 0:00
Name of the Person Who Prepared this Annual Report:
Dixie Williams
City or County Contact Agency:
City of West Plains
Private Sector Developer:
Kevin Guffey,Guy & Alan Ramseur, Jerry Hall, Travi
Original Date Plan/Project Approved:
10/17/2005 0:00
Most Recent Plan Amendment:
May-09
The major portion is south and east of U.S. Highway 63 Bypass and south of K Highway. There is a very small parcel on the north side of U.S. Highway 63 Bypass in the Monk Street area.
Description of Plan/Project:
(1) RPA 1 Proj,1-WP Properties Strip mall, 2 stand alone restaurants, stand alone auto parts retailer, outer road to connect business area to K Hwy and 63 Bypass. (2) RPA 1, Proj.2- Games People Play strip mall, remove rock (3) RPA1, Proj.5-Guffey
Plan/Project Status:
Fully-Operational, Seeking Developer, Under Construction
Area Type:
Blight, Economic Developer
How was the "but-for" Determination Made?:
Project had unusual/extraordinary costs making it financially unfeasible in the market place, it required signigicant public infrastructure investment to remedy exisiting inadequate conditions and to construct adequate capacity to support the project.
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:
$307,180.55
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$967,312.99
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):
$1,255,120.95
$240,980.30
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:
$12,775,000.00
Property Acquisition and Relocation Costs:
$71,000.00
Project Implementation Costs:
$499,000.00
Total Anticipated TIF Reimbursable Project Costs:
$14,285,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$61,838,000.00
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:
$617,710.00
Assessed Valuation Added to the Redevelopment Project:
$3,194,970.00
Anticipated Assessed Value at Time of District Termination:
$21,316,725.00
Total Amount of Base Year EATs:
$38,591.00
Total Amount of Base Year PILOTs:
$52,939.00
Total Annual EATs Anticipated at Time of District Termination:
$777,334.00
Total Annual PILOTs Anticipated at Time of District Termination:
$1,001,900.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
23
Percentage of PILOTs Captured:
50%
Total Years Anticipated to Capture PILOTs:
23
