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Section 1: Description of the Plan and Project

Name of City and/or County:

Kirksville

Name of Plan or Project:

South Highway 63 TIF Plan

Report Period:

1/1/2015 to 12/1/2015

Name of the Person Who Prepared this Annual Report:

Lindsay Leckbee

Contact Information:

City or County Contact Agency:

City of Kirksville

Phone:

660-627-1224

Private Sector Developer:

Kirksville Mall, LLC

Person:

Art King

Phone:

573-864-0569

Original Date Plan/Project Approved:

7/1/2009

Ordinance Number:

11883, 11884

Most Recent Plan Amendment:

Ordinance Number:

State House District:

State Senate District:

School District:

Kirksville R-III

Location:

Commencing at the S.E. corner of the S.E. Quarter of N.E. Quarter, Section 16, T62N, R15W, Adair County, Missouri and being more particularly described as follows Thence South 88 degrees 36 minutes West 660 feet to POINT OF BEGINNING Thence North 00 degrees, 32 minutes East 659.82 feet to a point Thence South 88 degrees 20 minutes East 330 feet to a point hence North 00 degrees 32 minutes East 630 feet to the South Right-of-way line of LaHarpe Street. Thence Easterly along said South Right-of-way line of LaHarpe Street, South 88 degrees 20 minutes East 30 feet to a point Thence leaving said South Right-of-line of LaHarpe Street, South 00 degrees 32 minutes West, 182 feet to a point Thence South 88 degrees 20 East, 269 feet to a point on the West Right-of-way line of U.S. Highway 63. Thence Southerly along the said west Right-of-way line of U.S. Highway 63 the following courses and distances South 00 degrees 32 minutes West, 776 feet to a point North 89 degrees 28 minutes West, 6 feet to a point South 00 degrees 32 minutes West, 328.97 feet to a point Thence leaving said West Right-of-way line of U. S. Highway 63, North 88 degrees 35 minutes West 624.98 feet to point of beginning.

Description of Plan/Project:

The Redevelopment Project will include private development and construction of related and necessary public infrastructure. This will include construction and renovation of various commercial uses, including office, general commercial, institutional, and retail with estimated building area of approximately 137,918 square feet of gross leasable retail area, along with adequate parking and sidewalks. It will also include construction of related and necessary public improvement such as sidewalks, roads, traffic control and improvements and utility infrastructure

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. 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.

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:

$289,869.00

Amount on Hand:
(As of Report Date)

$189,086.00

Total Revenue on hand in the Special Allocation Fund as of Report Date:

$189,086.00

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):

$0.00

Rehab of Existing Buildings:

$0.00

Acquisition of Land or Buildings:

$0.00

Other:

$100,783.00

$40,529.00

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:

$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:

$0.00

ANTICIPATED TOTAL PROJECT COSTS:

$15,052,479.00

TIF FINANCING METHOD:

Pay-as-you-go

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:

$1,241,540.00

Assessed Valuation Added to the Redevelopment Project:

$0.00

Anticipated Assessed Value at Time of District Termination:

$18,640,660.00

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:

$2,321,045.00

Total Annual PILOTs Anticipated at Time of District Termination:

$19,765,061.00

Percentage of EATs Captured:

50%

Total Years Anticipated to Capture EATs:

Percentage of PILOTs Captured:

100%

Total Years Anticipated to Capture PILOTs:

The Office of Missouri State Auditor

Scott Fitzpatrick

South Highway 63 TIF Plan

Section 1: Description of the Plan and Project

- None -

Section 2: Tax Increment Financing Revenues