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Section 1: Description of the Plan and Project

Name of City and/or County:

Joplin

Name of Plan or Project:

North park Crossing TIF Plan

Report Period:

11/1/2013 to 10/1/2013

Name of the Person Who Prepared this Annual Report:

Leslie Haase

Contact Information:

City or County Contact Agency:

City of Joplin

Phone:

417-624-0820 x251

Private Sector Developer:

Jeffrey L. Ungerer

Person:

Same

Phone:

785-272-1398 x285

Original Date Plan/Project Approved:

6/1/2004

Ordinance Number:

Ordinance No. 2004-134

Most Recent Plan Amendment:

Ordinance Number:

N/A

State House District:

128

State Senate District:

School District:

Joplin R-VIII School District

Location:

Approximately 31.08 acres of property in Joplin, Jasper County, Missouri, generally bound by 3rd Street to the north, Rolling Acres Addition subdivision to the east, East 7th Street to the south, and Missouri Highway 71 Range Line Road to the west.

Description of Plan/Project:

The Redevelopment Plan called for the redevelopment of the approximate 31.08 acres into individual redevelopment project areas. Each individual redevelopment project area will be its own project. The redevelopment of this area accomplishes the goals of the City for infill retail development. There are shopping areas to both the north and west providing some retail choices for consumers. Redevelopment of this area has created synergy among al

Plan/Project Status:

Fully-Operational

Area Type:

Conservation

How was the "but-for" Determination Made?:

Project required significant public infrastructure investment to remedy existing inadequate conditions. 16 of the 18 structures within the Redevelopment Area were over 35 years old. Eight of the 13 single family homes were rental units. Parcels H & I were not connected to sewers and Parcels J & K did not have sewers immediately available.

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:

500

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:

$1,340,968.10

Amount on Hand:
(As of Report Date)

$1,340,968.10

Economic Activity Taxes (EATs):

Total Received since inception:

$5,576,863.35

Amount on Hand:
(As of Report Date)

$0.00

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

$1,340,968.10

EXPENDITURES FOR TOTAL PROJECT COSTS FUNDED BY TIF:

Total Since Inception:

Report Period Only:

Public Infrastructure (streets, utilities, etc):

$1,834,681.00

$0.00

Site Development (grading, dirt moving, etc):

$3,223,645.00

$0.00

Rehab of Existing Buildings:

$0.00

Acquisition of Land or Buildings:

$0.00

Other:

$152,993.00

$0.00

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:

$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:

$8,370,900.00

Property Acquisition and Relocation Costs:

$1,450,000.00

Project Implementation Costs:

$275,000.00

Other:

$5,853,134.00

Other:

$0.00

Total Anticipated TIF Reimbursable Project Costs:

$15,949,034.00

ANTICIPATED TOTAL PROJECT COSTS:

$60,167,947.00

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:

$1,412,870.00

Assessed Valuation Added to the Redevelopment Project:

$4,935,970.00

Anticipated Assessed Value at Time of District Termination:

$8,000,000.00

Total Amount of Base Year EATs:

$541,481.00

Total Amount of Base Year PILOTs:

$64,038.00

Total Annual EATs Anticipated at Time of District Termination:

$18,705,917.00

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

North park Crossing TIF Plan

Section 1: Description of the Plan and Project

- None -

Section 2: Tax Increment Financing Revenues