Name of City and/or County:
Sedalia
Name of Plan or Project:
Sedalia Midtown TIF Redevelopment Plan & Project
Report Period:
8/1/2016 to 8/1/2017
Name of the Person Who Prepared this Annual Report:
John Simmons
City or County Contact Agency:
Private Sector Developer:
None
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
05/01/2016
School District:
Sedalia 200
A large portion of the historic downtown of Sedalia, Missouri. The area is bounded generally by 9th Street and Broadway Avenue on the South, Moniteau Avenue on the West, Marvin Street on the East and Jefferson Street on the North. The area consists of 1789 parcels which includes residential, industrial and commercial areas in or near the downtown area.
Description of Plan/Project:
The redevelopment plan focuses resources to provide opportunities for infrastructure development and rehab, residential reinvestment and private investment. Activities to be undertaken as part of the redevelopment plan to achieve this goal include building rehab, infill development, street improvements and enhancements to pedestrian facilities. This investment is intended to spur additional private development throughout the district.
Plan/Project Status:
Under Construction
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:
0
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$557,091.82
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$3,757.92
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:
Since Inception:
$64,602.86
This Reporting Period:
$5,109.65
ANTICIPATED TIF REIMBURSEMENT COSTS:
Public Infrasture and Site Development Costs:
$700,000.00
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$50,000.00
Total Anticipated TIF Reimbursable Project Costs:
$2,573,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$10,303,000.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
0
Current Anticipated Estimate (# of Year to Retirement):
0
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$4,277,060.00
Assessed Valuation Added to the Redevelopment Project:
$2,266,160.00
Anticipated Assessed Value at Time of District Termination:
$7,593,334.00
Total Amount of Base Year EATs:
$904,000.00
Total Amount of Base Year PILOTs:
$248,677.00
Total Annual EATs Anticipated at Time of District Termination:
$904,000.00
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
