Name of City and/or County:
Cameron
Name of Plan or Project:
Crossroads II Tax Increment Financing Plan
Report Period:
10/1/2015 to 9/1/2016
Name of the Person Who Prepared this Annual Report:
Deborah Polk
City or County Contact Agency:
City of Cameron, Missouri
Private Sector Developer:
RP IIMEG, RP IIIOrscheln, RP IVCommercial
Original Date Plan/Project Approved:
10/1/2004
Most Recent Plan Amendment:
03/01/2009
School District:
Cameron R-1
Located in the vicinity of US Highway 69, Interstate 35 and US 36 in the City of Cameron, Missouri in or near the Crossroads Corporate Center.
Description of Plan/Project:
The Plan provides for the redevelopment of the area in multiple phases for commercial and retail uses. Redevelopment Project I was not pursued as a TIF. Redevelopment Project II is inactive. Redevelopment Project III is a 1.5 million retail project. Redevelopment Project IV is a commercial building.
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. Project required significant public infrastructure investment to remedy existing inadequate conditions. Plus obsolete platting and inadequate street layout.
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:
$205,188.82
Amount on Hand: (As of Report Date)
$3,090.89
Economic Activity Taxes (EATs):
Total Received since inception:
$148,248.20
Amount on Hand: (As of Report Date)
$2,233.15
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:
$348,372.09
This Reporting Period:
$98,385.58
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:
$3,309,897.00
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$128,718.00
Total Anticipated TIF Reimbursable Project Costs:
$3,628,615.00
ANTICIPATED TOTAL PROJECT COSTS:
$29,096,613.00
TIF FINANCING METHOD:
Pay-as-you-go
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
23
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$112,430.00
Assessed Valuation Added to the Redevelopment Project:
$500,000.00
Anticipated Assessed Value at Time of District Termination:
$6,406,663.00
Total Amount of Base Year EATs:
$0.00
Total Amount of Base Year PILOTs:
$0.00
Total Annual EATs Anticipated at Time of District Termination:
$500,712.00
Total Annual PILOTs Anticipated at Time of District Termination:
$377,646.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
23
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
23