Name of City and/or County:
Kirksville
Name of Plan or Project:
Kirksville Downtown Improvement TIF Plan
Report Period:
1/1/2016 to 12/1/2016
Name of the Person Who Prepared this Annual Report:
Lindsay Leckbee
City or County Contact Agency:
Private Sector Developer:
na
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
11/01/2000
School District:
Kirksville R-III
Location in the Central Business District. It is described as follows. Illinois St. on N. from Marion to the alley East of Franklin Buchanan to First St. First to Washington Washington to Missouri St. Extended Missouri St. to City Limits City Limits to Normal Normal to Truman Campus Franklin to Pierce Pierce to Marion Marion to Illinois.
Description of Plan/Project:
Plan is intended to fund the implementation of the Kirksville Downtown Development Plan. Plan calls for the area to be developed as one mixed-use development project. Project includes construction of new business buildings, remodeling of existing buildings facade & infrastructure improvements renovation of streets, sidewalks & other public areas, enhanced wayfinding/pedestrian access, improved traffic, sales & property tax in downtown.
Plan/Project Status:
Fully-Operational
How was the "but-for" Determination Made?:
Number of Relocated Residences During This Report Period:
0
Number of Relocated Businesses During This Report Period:
20
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:
100
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$2,980,123.00
Amount on Hand:
$524,186.00
Economic Activity Taxes (EATs):
Total Received since inception:
$1,296,915.00
Amount on Hand:
$0.00
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:
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:
$0.00
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$0.00
Total Anticipated TIF Reimbursable Project Costs:
$0.00
ANTICIPATED TOTAL PROJECT COSTS:
$15,052,479.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
5
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$6,950,220.00
Assessed Valuation Added to the Redevelopment Project:
$4,608,790.00
Anticipated Assessed Value at Time of District Termination:
$18,640,660.00
Total Amount of Base Year EATs:
$0.00
Total Amount of Base Year PILOTs:
$0.00
Total Annual EATs Anticipated at Time of District Termination:
$2,321,045.00
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
