Name of City and/or County:
Kansas City
Name of Plan or Project:
1200 Main/South Loop Project 01 (KC Live) TIF
Report Period:
5/1/2016 to 4/1/2017
Name of the Person Who Prepared this Annual Report:
Sandra L. Rayford
City or County Contact Agency:
Private Sector Developer:
Kansas City Live, LLC
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
04/01/2016
School District:
Kansas City, MO
The overall TIF Plan is an irregular area generally bounded by Central St and Baltimore Ave on the west, 10th/11/12th Streets on the north, Oak/McGee/Walnut Streets on the east & the south right of wah of I-35/Truman Rd on the south.Project 1 is generally bounded by 13th Street on the north, Truman Road on the south Grand Blvd on the east and Baltimore Ave on the west.
Description of Plan/Project:
Project 1 proposed acquisition, development, construction & rehabilitation of 350,000 to 425,000 sq. ft. of entertainment and retail uses, 2,000 parking spaces, streetscape, park development and associated public infrastructure and utility improvements.
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 New Jobs:
2034
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:
$4,340,901.00
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$19,292,575.00
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:
Since Inception:
$75,988,482.00
This Reporting Period:
$16,538,844.00
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:
$11,995,822.00
Property Acquisition and Relocation Costs:
$22,950,846.00
Project Implementation Costs:
$24,975,303.00
Total Anticipated TIF Reimbursable Project Costs:
$164,948,209.00
ANTICIPATED TOTAL PROJECT COSTS:
$321,135,195.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
22
Current Anticipated Estimate (# of Year to Retirement):
16
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$1,440,000.00
Assessed Valuation Added to the Redevelopment Project:
$25,345,927.00
Anticipated Assessed Value at Time of District Termination:
$0.00
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:
$7,559,068.00
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
