Name of City and/or County:
Neosho
Name of Plan or Project:
Neosho Tax Increment Finance District
Report Period:
10/1/2016 to 9/1/2017
Name of the Person Who Prepared this Annual Report:
Daphne Pevahouse
City or County Contact Agency:
Private Sector Developer:
None
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
01/01/2007
Ordinance Number:
274-2007
School District:
Neosho R-5
Area has three separate Redevelopment areas defined as North, South, and Center. The North area is the area along Hwy 86 from the Old Seneca Road to Hwy 71. The Southern District is the area along Hwy 71 south of the intersection of Hwy 60 and alternate 71 to new Hwy 71. The Center District extends east and west from the intersection of Hwy 71-60-71A
Description of Plan/Project:
Funding debt service and direct costs related to improvements to infrastructure, streets, and utilities to new areas at the edge of the City that have been annexed or is annexed
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:
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:
326
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$1,628,342.92
Amount on Hand: (As of Report Date)
$934,262.94
Economic Activity Taxes (EATs):
Total Received since inception:
$2,783,437.79
Amount on Hand: (As of Report Date)
$1,241,728.77
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:
$2,993,331.92
This Reporting Period:
$53,593.83
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:
$0.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
20
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$1,002,490.00
Assessed Valuation Added to the Redevelopment Project:
$5,613,730.00
Anticipated Assessed Value at Time of District Termination:
$10,471,152.00
Total Amount of Base Year EATs:
$134,844.00
Total Amount of Base Year PILOTs:
$0.00
Total Annual EATs Anticipated at Time of District Termination:
$650,000.00
Total Annual PILOTs Anticipated at Time of District Termination:
$0.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
12
Percentage of PILOTs Captured:
50%
Total Years Anticipated to Capture PILOTs:
12