Name of City and/or County:
St. Peters
Name of Plan or Project:
Old Town Redevelopment Area TIF
Report Period:
10/1/2016 to 9/1/2017
Name of the Person Who Prepared this Annual Report:
Julie Powers and Rita Westerson
City or County Contact Agency:
Private Sector Developer:
na
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
School District:
Ft. Zumwalt
The redevelopment area is bounded on the east by Spencer Creek, on the south by the right-of-way of Interstate 70, on the west by Dardenne Creek and on the north by the Corps of Engineers Old Town St. Peters Levee.
Description of Plan/Project:
The plan permits the use of TIF funds to increase the flood protection to the 500-year level from 100 year protection to encourage redevelopment of tracts fronting I-70, revitalization of Old Town St. Peters and development of infrastructure for development of industrial and commercial sites. Infrastructure improvements near a new commercial development have been completed the large commercial development is completed and open for business.
Plan/Project Status:
Seeking Developer
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:
$8,602,713.00
Amount on Hand:
$3,178,905.00
Economic Activity Taxes (EATs):
Total Received since inception:
$8,704,113.00
Amount on Hand:
$3,774,985.00
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:
$8,130,000.00
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$200,000.00
Total Anticipated TIF Reimbursable Project Costs:
$8,330,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$236,100,100.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
2
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$4,205,440.00
Assessed Valuation Added to the Redevelopment Project:
$12,219,996.00
Anticipated Assessed Value at Time of District Termination:
$76,950,400.00
Total Amount of Base Year EATs:
$55,536.00
Total Amount of Base Year PILOTs:
$355,569.00
Total Annual EATs Anticipated at Time of District Termination:
$159,000.00
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
