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Section 1: Description of the Plan and Project

Name of City and/or County:

Cape Girardeau

Name of Plan or Project:

Esquire TIF

Report Period:

8/1/2018 to 10/1/2018

Name of the Person Who Prepared this Annual Report:

Alexander S. McElroy

Contact Information:

City or County Contact Agency:

Phone:

5734346327

Private Sector Developer:

TAG Development Team, LLC

Person:

Cara Naeger

Phone:

Original Date Plan/Project Approved:

Ordinance Number:

5106

Most Recent Plan Amendment:

Ordinance Number:

State House District:

147

State Senate District:

School District:

Location:

DESCRIPTIONTHAT PART OF LOT 50, IN RANGE E, IN THE CITY AND COUNTY OF CAPE GIRARDEAU, STATE OF MISSOURI, BEING PART OF THE NORTHEAST QUARTER OF SECTION 6, TOWNSHIP 30 NORTH, RANGE 14 EAST OF THE FIFTH PRINCIPAL MERIDIAN DESCRIBED AS FOLLOWSBEGINNING at the Southeast Corner of said Lot 50, said point being on the North side of Broadway Street and the West side of a 16.25 public alley thence N 833741 W, along the North Right of way of Broadway Street, 76.79 feet thence N 071744 E, 123.86 feet to a Curve to the Right, having a Radius of 8.28 feet, and a Length of 3.38 feet the Chord of said arc bears N 145353 E, 3.36 feet thence S 833741 E, 74.17 feet to the West line of the aforementioned alley thence S 061854 W, 127.16 feet to the PLACE OF BEGINNING containing 9626 square feet, more or less.

Description of Plan/Project:

The Esquire Theater building was completed in 1947 and was operated as a movie theater from 1947 to 1985. A handful of churches and businesses have temporarily rented the building from time to time after 1985, but the building has generally been vacant for many years and is currently very dilapidated. TAG Development Team, LLC the Developer has proposed using tax increment financing to fund a portion of the costs associated with restoring, rehabilitating and renovating the Esquire Theater building into an event space capable of hosting community events, gatherings, concerts, wedding receptions, conferences and meetings the Redevelopment Project.

Plan/Project Status:

Starting-Up

Area Type:

How was the "but-for" Determination Made?:

Number of Relocated Residences During This Report Period:

Number of Relocated Businesses During This Report Period:

Number of Parcels Acquired Through Use of Eminent Domain Power During This Report Period:

Identify Any Businesses That Have Relocation to the Redevelopment Area During this Report Period:

- None -

Estimate of New Jobs:

Actual To Date:

Estimate of Retained Jobs:

Actual To Date:

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:

$0.00

Amount on Hand:
(As of Report Date)

$0.00

Economic Activity Taxes (EATs):

Total Received since inception:

$0.00

Amount on Hand:
(As of Report Date)

$0.00

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):

$0.00

Site Development (grading, dirt moving, etc):

$0.00

Rehab of Existing Buildings:

$0.00

Acquisition of Land or Buildings:

$0.00

Other:

$0.00

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:

$0.00

This Reporting Period:

$0.00

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:

$870,000.00

ANTICIPATED TOTAL PROJECT COSTS:

$2,650,000.00

TIF FINANCING METHOD:

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:

$18,370.00

Assessed Valuation Added to the Redevelopment Project:

$621,630.00

Anticipated Assessed Value at Time of District Termination:

$640,630.00

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:

$0.00

Total Annual PILOTs Anticipated at Time of District Termination:

$0.00

Percentage of EATs Captured:

Total Years Anticipated to Capture EATs:

Percentage of PILOTs Captured:

Total Years Anticipated to Capture PILOTs:

The Office of Missouri State Auditor

Scott Fitzpatrick

Esquire TIF

Section 1: Description of the Plan and Project

- None -

Section 2: Tax Increment Financing Revenues