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Section 1: Description of the Plan and Project

Name of City and/or County:

Kansas City

Name of Plan or Project:

11th Street TIF Plan

Report Period:

5/1/2015 to 4/1/2016

Name of the Person Who Prepared this Annual Report:

Sandra L.Rayford

Contact Information:

City or County Contact Agency:

Tax Increment Financing Commission

Phone:

8166912109

Private Sector Developer:

11th Street Corridor Redevelopment Corporation

Person:

Will Hitzeman

Phone:

8164358158

Original Date Plan/Project Approved:

12/1/1992

Ordinance Number:

921355

Most Recent Plan Amendment:

05/01/2015

Ordinance Number:

150328

State House District:

State Senate District:

School District:

Kansas City, MO

Location:

The plan area as amended through the 10th Amendment is generally bounded by 6th & 7th Streets on the north,14th Street on the south, Broadway Boulevard and Wyandotte Street on the east Pennsylvania Avenue and Summit Street on the west.

Description of Plan/Project:

Rehabilitation of the Centennial Bldg and attached garage , development of the Cathedral Square project with 2 office bldgs & underground parking, historic preservation including 1021,1029, &1032 Pennsylvania Ave and 1021, 1025, &1033 Jefferson St. & Renovation existing structures for office space, rehabilitation & renovation of Thayer Pl, the Poindexter Bldg, 700 Central Bldg, & development off additional office, commercial, & residential

Plan/Project Status:

Fully-Operational

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 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:

Name	Address	Phone Number	New or Relocated?	Rel. from What City/County
None

Estimate of New Jobs:

895

Actual To Date:

4680

Estimate of Retained Jobs:

2100

Actual To Date:

1140

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:

$290,565.49

Amount on Hand:
(As of Report Date)

$0.00

Economic Activity Taxes (EATs):

Total Received since inception:

$46,612,011.00

Amount on Hand:
(As of Report Date)

$0.00

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

$0.00

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:

$3,561,270.00

$324,572.00

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:

$56,961,057.00

This Reporting Period:

$5,386,076.00

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:

$890,558.00

Property Acquisition and Relocation Costs:

$8,421,127.00

Project Implementation Costs:

$3,294,965.00

Other:

$80,416,401.00

Other:

$8,836,844.00

Total Anticipated TIF Reimbursable Project Costs:

$101,859,895.00

ANTICIPATED TOTAL PROJECT COSTS:

$255,200,206.00

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:

$8,225,129.00

Assessed Valuation Added to the Redevelopment Project:

$28,655,599.00

Anticipated Assessed Value at Time of District Termination:

$39,875,207.00

Total Amount of Base Year EATs:

$766,540.25

Total Amount of Base Year PILOTs:

$0.00

Total Annual EATs Anticipated at Time of District Termination:

$2,446,199.00

Total Annual PILOTs Anticipated at Time of District Termination:

$6,999,133.00

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

11th Street TIF Plan

Section 1: Description of the Plan and Project

Section 2: Tax Increment Financing Revenues