View Tif

Section 1: Description of the Plan and Project

Name of City and/or County:

Ste. Genevieve

Name of Plan or Project:

Redevelopment plan for the Downtown Ste. Genevieve

Report Period:

10/1/2015 to 9/1/2016

Name of the Person Who Prepared this Annual Report:

Chauncy Buchheit, SEMO Regional Planning

Contact Information:

City or County Contact Agency:

City of Ste. Genevieve

Phone:

573-883-5400

Private Sector Developer:

none

Person:

Phone:

Original Date Plan/Project Approved:

4/1/2013

Ordinance Number:

3855

Most Recent Plan Amendment:

Ordinance Number:

State House District:

116

State Senate District:

School District:

Ste.Genevieve R-2

Location:

Downtown Ste. Genevieve west of rail tracks, extending out Market Street

Description of Plan/Project:

converting existing deteriorated and vacant buildings into retail, office and service space, municipal infratstructure

Plan/Project Status:

Starting-Up

Area Type:

Conservation

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 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:

150

Actual To Date:

Estimate of Retained Jobs:

100

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:

$7,032.72

Amount on Hand:
(As of Report Date)

$46.75

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

$46.75

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:

$1,027,791.70

Acquisition of Land or Buildings:

$0.00

Other:

$0.00

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:

$7,125.81

This Reporting Period:

$7,125.81

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:

$22,325,000.00

Property Acquisition and Relocation Costs:

$500,000.00

Project Implementation Costs:

$1,543,750.00

Other:

$0.00

Other:

$0.00

Total Anticipated TIF Reimbursable Project Costs:

$24,368,750.00

ANTICIPATED TOTAL PROJECT COSTS:

$33,638,750.00

TIF FINANCING METHOD:

Pay-as-you-go; General Obligation Bonds; Industrial Revenue Bond; 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:

$5,808,120.00

Assessed Valuation Added to the Redevelopment Project:

$0.00

Anticipated Assessed Value at Time of District Termination:

$9,583,061.00

Total Amount of Base Year EATs:

$177,663.00

Total Amount of Base Year PILOTs:

$290,970.00

Total Annual EATs Anticipated at Time of District Termination:

$479,462.00

Total Annual PILOTs Anticipated at Time of District Termination:

$472,173.00

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

Redevelopment plan for the Downtown Ste. Genevieve

Section 1: Description of the Plan and Project

- None -

Section 2: Tax Increment Financing Revenues