View Tif

Section 1: Description of the Plan and Project

Name of City and/or County:

West Plains

Name of Plan or Project:

S. U.S. Hwy. 60 Corridor/Porter Wagoner Bl. R.P.

Report Period:

4/1/2013 to 3/1/2014

Name of the Person Who Prepared this Annual Report:

Allen Brinkman

Contact Information:

City or County Contact Agency:

City of West Plains

Phone:

417-256-7176

Private Sector Developer:

Walmart, Hoover Prop, Silvey Prop, Stewart constru

Person:

Ted Frumkin,Rick Hoover,Richard Silvey,Carey Stewa

Phone:

5012739472

Original Date Plan/Project Approved:

5/1/1994

Ordinance Number:

3413

Most Recent Plan Amendment:

05/01/2003

Ordinance Number:

3813

State House District:

154 formerly 151

State Senate District:

School District:

R-7

Location:

Phase I - Walmart, Southern Hills Shopping Center Phase II - Aquatic Center, Broadway-Porter Wagoner, Harlin Drive, connects downtown to shopping Phase III - Hoover Mall, 63 Bypass NW of walmart area Phase IV - Downtown, Downtown Square Phase V, VI - Missouri State University, Garfield Street Phase VII - Carey Stewart, S side of 63 Bypass past Hwy 160-63 Jct Phase VIII - Richard Silvey, N side of 63 Bypass at Hwy 160-63 Jct

Description of Plan/Project:

Phase I-Walmart, install traffic light to improve traffic flow Phase II-Harlin Drive, widen and rebuild street Phase III-Hoover Mall, street utility, water soil/erosion improvements, commercial development Phase IV-Downtown, upgrade existing infrastructure and make parking changes and sidewalk improvements Phase V & VI-Missouri State University, 5 parcels of land for classroom construction Phase VII-Stewart Mall Phase VIII-Silvey Mall

Plan/Project Status:

Fully-Operational

Area Type:

Blight, Conservation, Economic Development

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.

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:

701

Actual To Date:

701

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:

$0.00

Amount on Hand:
(As of Report Date)

$0.00

Economic Activity Taxes (EATs):

Total Received since inception:

$2,870,985.72

Amount on Hand:
(As of Report Date)

$1,685.50

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

$1,685.50

EXPENDITURES FOR TOTAL PROJECT COSTS FUNDED BY TIF:

Total Since Inception:

Report Period Only:

Public Infrastructure (streets, utilities, etc):

$1,817,111.90

$0.00

Site Development (grading, dirt moving, etc):

$0.00

Rehab of Existing Buildings:

$0.00

Acquisition of Land or Buildings:

$0.00

Other:

$76,567.00

$0.00

AMOUNT PAID ON DEBT SERVICES:

Payments of principal and interest on outstanding bonded debt:

Since Inception:

$2,481,270.60

This Reporting Period:

$0.00

Reimbursement of developer for eligible cost:

Since Inception:

$204,286.64

This Reporting Period:

$0.00

Reimbursement to city/county (or other public entity) for eligible costs:

Since Inception:

$252,083.82

This Reporting Period:

$189,535.45

ANTICIPATED TIF REIMBURSEMENT COSTS:

Public Infrasture and Site Development Costs:

$1,960,385.00

Property Acquisition and Relocation Costs:

$0.00

Project Implementation Costs:

$0.00

Other:

$0.00

Other:

$0.00

Total Anticipated TIF Reimbursable Project Costs:

$1,960,385.00

ANTICIPATED TOTAL PROJECT COSTS:

$3,904,249.00

TIF FINANCING METHOD:

Pay-as-you-go; Industrial Revenue Bond; Loan

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:

$0.00

Assessed Valuation Added to the Redevelopment Project:

$0.00

Anticipated Assessed Value at Time of District Termination:

$0.00

Total Amount of Base Year EATs:

$676,260.00

Total Amount of Base Year PILOTs:

$0.00

Total Annual EATs Anticipated at Time of District Termination:

$8,148,729.00

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:

Total Years Anticipated to Capture PILOTs:

The Office of Missouri State Auditor

Scott Fitzpatrick

S. U.S. Hwy. 60 Corridor/Porter Wagoner Bl. R.P.

Section 1: Description of the Plan and Project

- None -

Section 2: Tax Increment Financing Revenues