Shelbina Redevelopment Area TIF
Section 1 Description of the Plan and Project  
Name of City and/or County: Shelbina  
Name of Plan or Project: Shelbina Redevelopment Area TIF  
Report Period: 10/01/2006 to 09/30/2007  
Name of the person who prepared this annual report: Mary Lou Craigg, City Clerk  
Contact Information:    
City or County Contact Agency: Dennis Klusmeyer, City Administrator  
Phone: 573-588-4104  
Private Sector Developer:  
Person:  
Phone:  
Original Date Plan/Project Approved: 05/13/2003  
Ordinance Number: 1094  
Most Recent Plan Amendment: 1/24/2006  
Ordinance Number: 1155  
State House District: 8  
State Senate District: 18  
School District Shelby County R-IV  
Location:    
A broad area in the city of Shelbina mostly north of the BNSF Railroad tracks, also including the downtown core area south of the tracks and a detatched area on the west side of the city.  
Description of Plan/Project:    
Facilitate new development in the area, construct necessary new infrastructure to support development and to pay for any necessary property acquisition or relocations  
Plan/Project Status: Fully operational
Area Type: Conservation  
How was the "but-for" determination made?:    
Unusual/exteraordinary costs made project financially unfeasible in the market, required significant public infrastructure investment to remedy existing inadequate conditions and capacity to support development and required parcel assembly or relo costs  
Number of Relocated Residences During This Report Period: 0    
Number of Relocation Businessess During This Report Period: 2    
Number of Parcels Acquired Through Use of Eminent Domain Power During This Report Period: 0    
Identify any business that have relocation to the Redevelopment Area during this report period:    
Name Address Phone Number New or Relocated? Rel. from What City/County
Four R-D 351 Fairgrounds Road Relocated Shelbina
MFA Propane 701 N. Center New New business
Estimate of New Jobs: 12 Actual To Date: 12
Estimate of Retained Jobs: 7 Actual To Date: 7
     
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: $5,353.55 Amount on Hand: $0.00
    (As of Report Date)  
Economic Activity Taxes (EATs):      
Total received since inception: $10,058.86 Amount on Hand: $0.00
    (As of Report Date)  
       
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): $147,396.57 $15,770.00
Site Development (grading, dirt moving, etc): $0.00 $0.00
Rehab of existing buildings: $0.00 $0.00
Acquisition of land or buildings: $0.00 $0.00
Other: $173,710.56 $64,232.14
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: $0.00 This Reporting Period: $0.00
Reimbursement to city/county (or other public entity) for eligible costs:    
Since Inception: $15,412.41 This Reporting Period: $7,442.27
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 $0.00  
     
ANTICIPATED TOTAL PROJECT COSTS: $0.00  
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: $30,500,000.00  
Assessed valuation added to the redevelopment project: $10,569.00  
Anticipated Assessed Value at Time of District Termination: $112,000,000.00  
Total Amount of Base Year EATs: $7,649,110.00  
Total Amount of Base Year PILOTs: $459,752.00  
Total Annual EATs Anticipated at Time of District Termination: $31,360,000.00  
Total Annual PILOTs Anticipated at Time of District Termination: $2,314,409.00  
Percentage of EATs Captured: 50%  
Total Years Anticipated to Capture EATs: 23
Percentage of PILOTs Captured: 100%  
Total Years Anticipated to Capture PILOTs: 23