Success Notification Overlay
Failure Notification Overlay
Ellsinore TIF District
Section 1 Description of the Plan and Project  
Name of City and/or County: Ellsinore  
Name of Plan or Project: Ellsinore TIF District  
Report Period: 07/01/2013 to 06/01/2014  
Name of the person who prepared this annual report: Laura A. Lashley  
Contact Information:    
City or County Contact Agency: City of Ellsinore  
Phone: 573-322-5333  
Private Sector Developer: Kearbey Enterprises, LLC  
Person: David Kearbey  
Phone: 573-322-5322  
Original Date Plan/Project Approved: 09/01/2012  
Ordinance Number: Ord No 131  
Most Recent Plan Amendment: 04/01/2014  
Ordinance Number: 151  
State House District: 153  
State Senate District: 3  
School District East Carter County R-2 School District  
Location:    
There are two redevelopment plan areas. RPA1 is located in the downtown Ellsinore area, RPA2 is located on U.S. Highway 60 in Ellsinore. Ordinance 131 has been previously sent which includes maps of both RPAs.  
Description of Plan/Project:    
Redevelopment of an old lumber yard into a home improvement store and a general merchandise store. Demolition of unsafe buildings and public improvements in RPA1. RPA1 extends utilities and other infrastructure for retail development on Hwy. 60.  
Plan/Project Status: Fully-Operational
Area Type: Blight  
How was the "but-for" determination made?:    
Project had unusual/extraordinary costs that made the project financially unfeasible in the market place. Project required significant public infrastructure investment to remedy existing inadequate conditions. Project required significant public infrastructure investment to construct adequate capacity to support the project. Project required parcel assembly and/or relocation costs.  
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
Ross Oil Hwy 60 W RR2, Box 2111, Ellsinore, MO 63937 573-322-0999 N/A
Van Dykes 1 East Cleveland Ave., Ellsinore, MO 63937 573-322-5322 N/A
Estimate of New Jobs: 20 Actual To Date: 0
Estimate of Retained Jobs: 6 Actual To Date: 0
     
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: $0.00 Amount on Hand: $0.00
    (As of Report Date)  
Economic Activity Taxes (EATs):      
Total received since inception: $25,000.00 Amount on Hand: $25,000.00
    (As of Report Date)  
       
Total Revenue on hand in the Special Allocation Fund as of Report Date: $25,000.00
   
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: $10,931.00 $10,931.00
AMOUNT PAID ON DEBT SERVICES:    
Payments of principal and interest on outstanding bonded debt:    
Since Inception: $0.00 This Reporting Period: $0.00
Reimbursement of developer for eligible cost:    
Since Inception: $10,931.00 This Reporting Period: $0.00
Reimbursement to city/county (or other public entity) for eligible costs:    
Since Inception: $13,613.00 This Reporting Period: $13,613.00
ANTICIPATED TIF REIMBURSEMENT COSTS:    
Public Infrasture and Site Development Costs: $150,000.00  
Property Acquisition and Relocation Costs: $150,000.00  
Project Implementation Costs: $180,750.00  
Other: $905,000.00  
Other: $0.00  
Total Anticipated TIF Reimbursable Project Costs $1,385,750.00  
     
ANTICIPATED TOTAL PROJECT COSTS: $3,404,750.00  
TIF FINANCING METHOD: Pay-as-you-go  
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: $435,700.00  
Assessed valuation added to the redevelopment project: $150,940.00  
Anticipated Assessed Value at Time of District Termination: $2,707,152.00  
Total Amount of Base Year EATs: $60,000.00  
Total Amount of Base Year PILOTs: $19,244.00  
Total Annual EATs Anticipated at Time of District Termination: $199,915.00  
Total Annual PILOTs Anticipated at Time of District Termination: $0.00  
Percentage of EATs Captured: 50%  
Total Years Anticipated to Capture EATs: 23
Percentage of PILOTs Captured: 50%  
Total Years Anticipated to Capture PILOTs: 23