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Section 1: Description of the Plan and Project

Name of City and/or County:

Chillicothe

Name of Plan or Project:

Fast Lanes Recreational Center TIF

Report Period:

10/1/2007 to 9/30/2008

Name of the Person Who Prepared this Annual Report:

Robert Cowherd, Esq.

Contact Information:

City or County Contact Agency:

Rozanne Frampton, City Clerk

Phone:

660-646-1877

Private Sector Developer:

Grand River Entertainment

Person:

Robert Cowherd

Phone:

660-646-0627

Original Date Plan/Project Approved:

11/8/2004

Ordinance Number:

2004-87

Most Recent Plan Amendment:

Ordinance Number:

State House District:

State Senate District:

School District:

Chillicothe R-2

Location:

2870 Grand Avenue on the north side of the city of Chillicothe

Description of Plan/Project:

Site development and appurtenant infrastructure improvements for construction of a recreational facility.

Plan/Project Status:

Fully operational

Area Type:

Not specified

How was the "but-for" Determination Made?:

Unusual/extraordinary costs made project financially unfeasible in the market.

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
Fast Lane Family Entertainment Center	2870 Grand Ave, Chillicothe, MO		New

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:

$59,685.47

Amount on Hand:
(As of Report Date)

$0.00

Economic Activity Taxes (EATs):

Total Received since inception:

$35,094.06

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):

$42,850.00

$0.00

Site Development (grading, dirt moving, etc):

$287,384.00

$0.00

Rehab of Existing Buildings:

$0.00

Acquisition of Land or Buildings:

$280,000.00

$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:

$94,779.53

This Reporting Period:

$42,186.00

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:

ANTICIPATED TOTAL PROJECT COSTS:

TIF FINANCING METHOD:

Not specified

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:

$170.00

Assessed Valuation Added to the Redevelopment Project:

$488,030.00

Anticipated Assessed Value at Time of District Termination:

$488,200.00

Total Amount of Base Year EATs:

$0.00

Total Amount of Base Year PILOTs:

$9.96

Total Annual EATs Anticipated at Time of District Termination:

$10,661.00

Total Annual PILOTs Anticipated at Time of District Termination:

$31,525.00

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

Fast Lanes Recreational Center TIF

Section 1: Description of the Plan and Project

Section 2: Tax Increment Financing Revenues