1001 Locust (352-108)
Section 1 Description of the Plan and Project  
Name of City and/or County: St. Louis  
Name of Plan or Project: 1001 Locust (352-108)  
Report Period: 07/01/2014 to 06/01/2015  
Name of the person who prepared this annual report: Dale E. RuthsatzLisa Harmon  
Contact Information:    
City or County Contact Agency: St Louis Development Corporation  
Phone: 314-657-3732  
Private Sector Developer: Kinloch LLC  
Person: Craig Heller  
Phone: 314-241-6702  
Original Date Plan/Project Approved: 07/01/2008  
Ordinance Number: 68083  
Most Recent Plan Amendment:  
Ordinance Number:  
State House District: 58  
State Senate District: 5  
School District City of St Louis  
Location:    
The project location is 1001 Locust St., which was previously known as the Farm and Home Building.  
Description of Plan/Project:    
The project consists of the rehabilitation of a six-story building with approximately 8,800 s/f of retail space and 45,000 s/f of office space.  
Plan/Project Status: Fully-Operational
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.  
Number of Relocated Residences During This Report Period: 0    
Number of Relocation Businessess During This Report Period: 0    
Number of Parcels Acquired Through Use of Eminent Domain Power During This Report Period: 0    
Identify any business that have relocation to the Redevelopment Area during this report period:    
- None -
Estimate of New Jobs: 200 Actual To Date: 150
Estimate of Retained Jobs: 0 Actual To Date: 0
     
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: $386,704.00 Amount on Hand: $65,460.00
    (As of Report Date)  
Economic Activity Taxes (EATs):      
Total received since inception: $175,211.00 Amount on Hand: $41.00
    (As of Report Date)  
       
Total Revenue on hand in the Special Allocation Fund as of Report Date: $65,501.00
   
EXPENDITURES FOR TOTAL PROJECT COSTS FUNDED BY TIF: Total Since Inception: Report Period Only:
Public Infrastructure (streets, utilities, etc): $0.00 $0.00
Site Development (grading, dirt moving, etc): $0.00 $0.00
Rehab of existing buildings: $0.00 $0.00
Acquisition of land or buildings: $0.00 $0.00
Other: $2,112,500.00 $0.00
AMOUNT PAID ON DEBT SERVICES:    
Payments of principal and interest on outstanding bonded debt:    
Since Inception: $471,814.00 This Reporting Period: $200,889.00
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: $24,600.00 This Reporting Period: $8,200.00
ANTICIPATED TIF REIMBURSEMENT COSTS:    
Public Infrasture and Site Development Costs: $0.00  
Property Acquisition and Relocation Costs: $0.00  
Project Implementation Costs: $0.00  
Other: $0.00  
Other: $0.00  
Total Anticipated TIF Reimbursable Project Costs $1,950,000.00  
     
ANTICIPATED TOTAL PROJECT COSTS: $10,218,750.00  
TIF FINANCING METHOD: General Obligation Bonds  
MATURITY OF TIF OBLIGATIONS:    
Original Estimate (# of Years to Retirement): 23  
Current Anticipated Estimate (# of Year to Retirement): 16  
     
ESTIMATED INCREASE IN TAX GENERATION:    
Original assessed value of the redevelopment project: $466,400.00  
Assessed valuation added to the redevelopment project: $1,045,300.00  
Anticipated Assessed Value at Time of District Termination: $2,540,017.00  
Total Amount of Base Year EATs: $6,208.00  
Total Amount of Base Year PILOTs: $30,106.00  
Total Annual EATs Anticipated at Time of District Termination: $392,937.00  
Total Annual PILOTs Anticipated at Time of District Termination: $133,850.00  
Percentage of EATs Captured: 50%  
Total Years Anticipated to Capture EATs: 23
Percentage of PILOTs Captured: 100%  
Total Years Anticipated to Capture PILOTs: 23