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Section 1: Description of the Plan and Project

Name of City and/or County:

Appleton City

Name of Plan or Project:

1st Amended & Restated Appleton City Downtown TIF

Report Period:

10/1/2013 to 9/1/2014

Name of the Person Who Prepared this Annual Report:

Susan Salmon, City Clerk

Contact Information:

City or County Contact Agency:

City of Appleton City

Phone:

660-476-2631

Private Sector Developer:

Powells Comm. rental, LLC, Farm House Kitchen LLC

Person:

Terry Powell, Eric Christie

Phone:

6604765600

Original Date Plan/Project Approved:

12/1/2003

Ordinance Number:

City Ordinance No. 03-03

Most Recent Plan Amendment:

11/01/2020

Ordinance Number:

City Ordinance No. 2012-20

State House District:

128

State Senate District:

School District:

Appleton City RII

Location:

The redevelopment area is within the downtown of Appleton City, MO, comprising roughly seventeen city blocks with frontage along the City's main thoroughfare of Highway 524th St.. The redevelopment area also extends north of 4th St. bounded by N. Hickory St. on the east, the railroad tracks on the west and 6th St. to the north. It also extends south with Walnut St. south to 3rd St. west to Maple St.

Description of Plan/Project:

The City has approved Phase IV of the TIF Plan. The intent of the Original Plan was to demolish an existing motel north of 4th St. to construct a Dollar General Store. This has been completed and Phase II was the building of a 9800 square ft. grocery store, along with relocation of a water line. Phase III is to add a Sports Bar to a newly opened restaurant, and the approval of Phase IV constructing a True Value Lumber & Hardware Store.

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:

Number of Relocated Businesses During This Report Period:

Number of Parcels Acquired Through Use of Eminent Domain Power During This Report Period:

Identify Any Businesses That Have Relocation to the Redevelopment Area During this Report Period:

- None -

Estimate of New Jobs:

Actual To Date:

Estimate of Retained Jobs:

Actual To Date:

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:

$168,089.19

Amount on Hand:
(As of Report Date)

$168,089.19

Economic Activity Taxes (EATs):

Total Received since inception:

$308,651.85

Amount on Hand:
(As of Report Date)

$13,848.77

Total Revenue on hand in the Special Allocation Fund as of Report Date:

$181,937.96

EXPENDITURES FOR TOTAL PROJECT COSTS FUNDED BY TIF:

Total Since Inception:

Report Period Only:

Public Infrastructure (streets, utilities, etc):

$21,967.85

$0.00

Site Development (grading, dirt moving, etc):

$16,040.00

$0.00

Rehab of Existing Buildings:

$0.00

Acquisition of Land or Buildings:

$0.00

Other:

$369,786.34

$53,426.34

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:

$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:

$0.00

Project Implementation Costs:

$0.00

Other:

$0.00

Other:

$0.00

Total Anticipated TIF Reimbursable Project Costs:

$0.00

ANTICIPATED TOTAL PROJECT COSTS:

$2,270,093.00

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:

$814,700.00

Assessed Valuation Added to the Redevelopment Project:

$366,400.00

Anticipated Assessed Value at Time of District Termination:

$1,075,452.00

Total Amount of Base Year EATs:

$159,102.00

Total Amount of Base Year PILOTs:

$52,054.00

Total Annual EATs Anticipated at Time of District Termination:

$810,821.81

Total Annual PILOTs Anticipated at Time of District Termination:

$0.00

Percentage of EATs Captured:

50%

Total Years Anticipated to Capture EATs:

Percentage of PILOTs Captured:

100%

Total Years Anticipated to Capture PILOTs:

The Office of Missouri State Auditor

Scott Fitzpatrick

1st Amended & Restated Appleton City Downtown TIF

Section 1: Description of the Plan and Project

- None -

Section 2: Tax Increment Financing Revenues