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Section 1: Description of the Plan and Project

Name of City and/or County:

Perry County

Name of Plan or Project:

Redevelopment Plan for the Highway 51/61 Tax

Report Period:

10/1/2013 to 9/1/2014

Name of the Person Who Prepared this Annual Report:

Chauncy Buchheit

Contact Information:

City or County Contact Agency:

Perry County Commission

Phone:

5735474242

Private Sector Developer:

none

Person:

Phone:

Original Date Plan/Project Approved:

1/1/2010

Ordinance Number:

Most Recent Plan Amendment:

Ordinance Number:

State House District:

145-116

State Senate District:

School District:

Perry County 32

Location:

The Redevelopment Area lies mainly north of U. S. Highway 61 and along both sides of State Highway 51 in the general vicinity of the U. S. Highway 61 and State Highway 51 intersection.The Redevelopment Area consists of 1 approximately 699 acres .

Description of Plan/Project:

Project 1 includes street, water lines, sewer lines, and gas main extensions to serve the Gilster-Mary Lee site, as well as property acquisition for the site. In addition, parking lot pavement is being proposed for the Gilster-Mary Lee site in order to cut down the dust associated with heavy truck traffic in and out of the Industrial Park.

Plan/Project Status:

Under Construction

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:

500

Actual To Date:

451

Estimate of Retained Jobs:

200

Actual To Date:

200

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:

$157,094.00

Amount on Hand:
(As of Report Date)

$157,094.00

Economic Activity Taxes (EATs):

Total Received since inception:

$0.00

Amount on Hand:
(As of Report Date)

$0.00

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

$157,094.00

EXPENDITURES FOR TOTAL PROJECT COSTS FUNDED BY TIF:

Total Since Inception:

Report Period Only:

Public Infrastructure (streets, utilities, etc):

$331,223.00

$0.00

Site Development (grading, dirt moving, etc):

$103,437.42

$0.00

Rehab of Existing Buildings:

$0.00

Acquisition of Land or Buildings:

$0.00

Other:

$76,023.47

$1,654.47

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:

$148,120.04

This Reporting Period:

$47,057.50

ANTICIPATED TIF REIMBURSEMENT COSTS:

Public Infrasture and Site Development Costs:

$5,132,500.00

Property Acquisition and Relocation Costs:

$530,000.00

Project Implementation Costs:

$1,742,500.00

Other:

$1,072,250.00

Other:

$0.00

Total Anticipated TIF Reimbursable Project Costs:

$12,427,250.00

ANTICIPATED TOTAL PROJECT COSTS:

$46,800,000.00

TIF FINANCING METHOD:

Pay-as-you-go; General Obligation Bonds; Industrial Revenue Bond; TIF Notes

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:

$482,946.00

Assessed Valuation Added to the Redevelopment Project:

$1,090,625.00

Anticipated Assessed Value at Time of District Termination:

$15,826,407.00

Total Amount of Base Year EATs:

$0.00

Total Amount of Base Year PILOTs:

$23,622.91

Total Annual EATs Anticipated at Time of District Termination:

$12,686.00

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

Redevelopment Plan for the Highway 51/61 Tax

Section 1: Description of the Plan and Project

- None -

Section 2: Tax Increment Financing Revenues