Name of City and/or County:
Jefferson City
Name of Plan or Project:
Southside Tax Increment Financing Plan
Report Period:
10/1/2014 to 9/1/2015
Name of the Person Who Prepared this Annual Report:
Shiela Pearre
City or County Contact Agency:
City of Jefferson
Private Sector Developer:
Dunklin Street Properties, Inc.
Person:
Lawrence Kolb & Steven Rollins
Original Date Plan/Project Approved:
11/1/2009
Most Recent Plan Amendment:
07/01/2012
School District:
Jefferson City School District
An 8 squre-block area in what is known as the south side of Jefferson City, about 1/2 mile south of the downtown core area including the 100 blocks of East and West Dunklin Street and the 600-700 blocks of Jefferson Street & Madison Street.
Description of Plan/Project:
Redevelopment of a commercial area to include sidewalk replacement, curbs, gutters, sewer line and under ground stormwater system repairs.
Plan/Project Status:
Fully-Operational
How was the "but-for" Determination Made?:
Project had unusual/extraordinary costs that made the project financially unfeasible in the market place.
Number of Relocated Residences During This Report Period:
0
Number of Relocated Businesses During This Report Period:
0
Number of Parcels Acquired Through Use of Eminent Domain Power During This Report Period:
0
Identify Any Businesses That Have Relocation to the Redevelopment Area During this Report Period:
Estimate of Retained Jobs:
0
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$58,041.05
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$83,122.40
Amount on Hand:
$0.00
Total Revenue on hand in the Special Allocation Fund as of Report Date:
EXPENDITURES FOR TOTAL PROJECT COSTS FUNDED BY TIF:
Total Since Inception:
Report Period Only:
Public Infrastructure (streets, utilities, etc):
Site Development (grading, dirt moving, etc):
Rehab of Existing Buildings:
Acquisition of Land or Buildings:
AMOUNT PAID ON DEBT SERVICES:
Payments of principal and interest on outstanding bonded debt:
This Reporting Period:
$0.00
Reimbursement of developer for eligible cost:
Since Inception:
$140,013.45
This Reporting Period:
$57,683.22
Reimbursement to city/county (or other public entity) for eligible costs:
Since Inception:
$1,150.00
This Reporting Period:
$460.00
ANTICIPATED TIF REIMBURSEMENT COSTS:
Public Infrasture and Site Development Costs:
$530,000.00
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$0.00
Total Anticipated TIF Reimbursable Project Costs:
$530,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$530,000.00
TIF FINANCING METHOD:
Industrial Revenue Bond
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
10
Current Anticipated Estimate (# of Year to Retirement):
15
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$668,760.00
Assessed Valuation Added to the Redevelopment Project:
$449,040.00
Anticipated Assessed Value at Time of District Termination:
$3,500,000.00
Total Amount of Base Year EATs:
$273,394.29
Total Amount of Base Year PILOTs:
$0.00
Total Annual EATs Anticipated at Time of District Termination:
$0.00
Total Annual PILOTs Anticipated at Time of District Termination:
$0.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
15
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
15
