Name of City and/or County:
Park Hills
Name of Plan or Project:
Parkway Drive Redevelopment District 3
Report Period:
10/1/2016 to 9/1/2017
Name of the Person Who Prepared this Annual Report:
Norman Lucas
City or County Contact Agency:
Private Sector Developer:
NA
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
School District:
Central St. Francois County R-III, Farmington R-7
District 3 includes the Flat River Industrial Park east of Production Drive and properties forming a corridor along Parkway Drive to the interchange with U.S. Highway 67 and east outer road.
Description of Plan/Project:
Plans include the extension of Parkway Drive and construction of a bridge connecting Parkway Drive to Industrial Drive. Road improvements were also planned for Industrial Drive and St. Joe Drive.
Plan/Project Status:
Seeking Developer
How was the "but-for" Determination Made?:
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:
13
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$736,766.01
Amount on Hand:
$24,648.50
Economic Activity Taxes (EATs):
Total Received since inception:
$339,536.42
Amount on Hand:
$24,648.50
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:
Since Inception:
$934,176.37
This Reporting Period:
$128,169.74
Reimbursement of developer for eligible cost:
This Reporting Period:
$0.00
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:
$3,564,420.61
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$0.00
Total Anticipated TIF Reimbursable Project Costs:
$3,564,420.61
ANTICIPATED TOTAL PROJECT COSTS:
$3,564,420.61
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:
$1,306,340.00
Assessed Valuation Added to the Redevelopment Project:
$1,538,560.00
Anticipated Assessed Value at Time of District Termination:
$14,927,973.00
Total Amount of Base Year EATs:
$30,999.34
Total Amount of Base Year PILOTs:
$25,862.00
Total Annual EATs Anticipated at Time of District Termination:
$168,787.00
Total Annual PILOTs Anticipated at Time of District Termination:
$0.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
23
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
23
