Name of City and/or County:
Osage Beach
Name of Plan or Project:
Marina View Redevelopment Area
Report Period:
1/1/2017 to 1/1/2018
Name of the Person Who Prepared this Annual Report:
Karri Bell
City or County Contact Agency:
Private Sector Developer:
JQH-Lake of the Ozarks Development LLC
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
The area is an approximately 28 acres located off of Passover Road and is adjacent to what is currently known as Mungenast Marina.
Description of Plan/Project:
The Plan proposes to completely redevelop the Area by eliminating blighting conditions through the demolition of existing structures, installation of utilities, installation of access drives, and the construction of an approximately three hundred 300 room hotel with appurtenant facilities which will include, but is not limited to, an approximately one hundred thousand 100,000 square foot flexible space convention center and health spa.
Plan/Project Status:
Inactive
How was the "but-for" Determination Made?:
The Redevelopment Area as a whole is a blighted area, and has not been subject to growth and development through investment by private enterprise and will not reasonable be expected to be developed without the adoption of tax increment financing.
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:
$0.00
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$0.00
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:
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:
$72,259.00
This Reporting Period:
$0.00
ANTICIPATED TIF REIMBURSEMENT COSTS:
Public Infrasture and Site Development Costs:
$1,700,000.00
Property Acquisition and Relocation Costs:
$2,000,000.00
Project Implementation Costs:
$0.00
Total Anticipated TIF Reimbursable Project Costs:
$3,700,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$98,888,200.00
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:
$77,030.00
Assessed Valuation Added to the Redevelopment Project:
$0.00
Anticipated Assessed Value at Time of District Termination:
$12,447,781.00
Total Amount of Base Year EATs:
$0.00
Total Amount of Base Year PILOTs:
$2,984.00
Total Annual EATs Anticipated at Time of District Termination:
$515,955.00
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:
50%
Total Years Anticipated to Capture PILOTs:
23
