Name of City and/or County:
Kansas City
Name of Plan or Project:
11th Street, Project B (Blossom House) TIF Plan
Report Period:
5/1/2014 to 4/1/2015
Name of the Person Who Prepared this Annual Report:
SANDRA L. RAYFORD
City or County Contact Agency:
Tax Increment Financing Commission
Private Sector Developer:
Walnut Creek Ranch, LLC
Original Date Plan/Project Approved:
12/1/1992
Most Recent Plan Amendment:
01/01/2012
School District:
Kansas City, Missouri
North of 11th Street between Jefferson and Pennsylvania Streets and south of the alley in Project B.
Description of Plan/Project:
The project provides for the historic preservation and renovation of the Blossom House 1030-1032 Pennsylvania and expansion of the Blossom House to accommodate office leasing the Brockett/Griffin House 1021 Jefferson Brockett Carriage House 1024 Jefferson.
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:
16
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$40,548.00
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$101,977.00
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:
$77,820.77
This Reporting Period:
$0.00
Reimbursement to city/county (or other public entity) for eligible costs:
This Reporting Period:
$0.00
ANTICIPATED TIF REIMBURSEMENT COSTS:
Public Infrasture and Site Development Costs:
$0.00
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$0.00
Total Anticipated TIF Reimbursable Project Costs:
$1,992,506.00
ANTICIPATED TOTAL PROJECT COSTS:
$12,014,250.00
TIF FINANCING METHOD:
Pay-as-you-go
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
0
Current Anticipated Estimate (# of Year to Retirement):
0
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$58,519.00
Assessed Valuation Added to the Redevelopment Project:
$646,053.00
Anticipated Assessed Value at Time of District Termination:
$718,173.00
Total Amount of Base Year EATs:
$0.00
Total Amount of Base Year PILOTs:
$6,468.00
Total Annual EATs Anticipated at Time of District Termination:
$89,953.00
Total Annual PILOTs Anticipated at Time of District Termination:
$49,040.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
23
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
23
