Name of City and/or County:
Unionville
Name of Plan or Project:
Unionville TIF Plan
Report Period:
9/1/2006 to 8/31/2007
Name of the Person Who Prepared this Annual Report:
Sharon Steele
City or County Contact Agency:
Sharon Steele, City Clerk
Private Sector Developer:
Original Date Plan/Project Approved:
12/2/1999
Most Recent Plan Amendment:
4/8/2004
School District:
Putnam County R-1
TIF District consists of the City Square along Main Street from 15th to 18th Streets; Grant Street from 15th to 18th Streets; 17th Street from Washington to Union and on 16th Street from Washington to Union.
Description of Plan/Project:
Rebuild sewer & water lines, install new sidewalks and related streepscape improvements for the purpose of enhancing commercial business redevelopment in the downtown core of the city of Unionville.
Plan/Project Status:
Seeking developer
How was the "but-for" Determination Made?:
Unusual/extraordinary costs made the project financially unfeasible in the market.
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:
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:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$37,361.33
Amount on Hand:
$11,953.68
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:
$25,551.14
This Reporting Period:
$4,512.91
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:
$0.00
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$0.00
Total Anticipated TIF Reimbursable Project Costs:
$574,520.00
ANTICIPATED TOTAL PROJECT COSTS:
$574,520.00
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:
$1,857,795.00
Assessed Valuation Added to the Redevelopment Project:
$89,720.00
Anticipated Assessed Value at Time of District Termination:
$2,524,258.00
Total Amount of Base Year EATs:
$195,912.00
Total Amount of Base Year PILOTs:
$0.00
Total Annual EATs Anticipated at Time of District Termination:
$390,000.00
Total Annual PILOTs Anticipated at Time of District Termination:
$0.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
15
Percentage of PILOTs Captured:
0%
Total Years Anticipated to Capture PILOTs:
0
