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Section 1: Description of the Plan and Project

Name of City and/or County:

Poplar Bluff

Name of Plan or Project:

Eight Points Tax Increment Financing Redev Plan

Report Period:

1/1/2014 to 12/1/2014

Name of the Person Who Prepared this Annual Report:

Mark Massingham

Contact Information:

City or County Contact Agency:

City of Poplar Bluff, Missouri

Phone:

(573)686-8000

Private Sector Developer:

Eight Points Development, LLC

Person:

Alan Bornstein

Phone:

(314) 259-5803

Original Date Plan/Project Approved:

8/1/2012

Ordinance Number:

Ordinance No. 7349

Most Recent Plan Amendment:

Ordinance Number:

State House District:

152 and 153

State Senate District:

School District:

Poplar Bluff R-I School District

Location:

the Redevelopment Area totals approximately 92 acres of land and is generally bordered by Interstate State Highway 67 Business and Interstate State Highway 67 By-Pass to the north, east and west and by Oak Grove Road to the south. See attached Boundary Map from the Redevelopment Plan.

Description of Plan/Project:

The primary purpose of the Plan was to establish a comprehensive program for the redevelopment of the Redevelopment Area that would reduce or eliminate certain conditions, the existence of which qualified the Redevelopment Area to be a Blighted Area in accordance with the TIF Act and would enhance the tax base of the taxing districts within area. The Project included the demolition and removal of some of the existing buildings and the construction of several new retail and commercial buildings and related site improvements. The major anchor tenants are Menards and Wal-Mart Neighborhood Market.

Plan/Project Status:

Starting-Up

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:

$0.00

Amount on Hand:
(As of Report Date)

$0.00

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:

$0.00

EXPENDITURES FOR TOTAL PROJECT COSTS FUNDED BY TIF:

Total Since Inception:

Report Period Only:

Public Infrastructure (streets, utilities, etc):

$0.00

Site Development (grading, dirt moving, etc):

$1,960,940.39

Rehab of Existing Buildings:

$0.00

Acquisition of Land or Buildings:

$5,665,954.59

Other:

$4,534,428.68

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:

$3,500,000.00

Property Acquisition and Relocation Costs:

$28,000,000.00

Project Implementation Costs:

$3,500,000.00

Other:

$0.00

Other:

$0.00

Total Anticipated TIF Reimbursable Project Costs:

$35,000,000.00

ANTICIPATED TOTAL PROJECT COSTS:

$123,500,000.00

TIF FINANCING METHOD:

General Obligation Bonds; 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:

$2,559,240.00

Assessed Valuation Added to the Redevelopment Project:

$3,513,310.00

Anticipated Assessed Value at Time of District Termination:

$9,205,052.00

Total Amount of Base Year EATs:

$128,721.00

Total Amount of Base Year PILOTs:

$108,713.00

Total Annual EATs Anticipated at Time of District Termination:

$1,535,703.00

Total Annual PILOTs Anticipated at Time of District Termination:

$158,950.00

Percentage of EATs Captured:

50%

Total Years Anticipated to Capture EATs:

Percentage of PILOTs Captured:

50%

Total Years Anticipated to Capture PILOTs:

The Office of Missouri State Auditor

Scott Fitzpatrick

Eight Points Tax Increment Financing Redev Plan

Section 1: Description of the Plan and Project

- None -

Section 2: Tax Increment Financing Revenues