Name of City and/or County:
West Plains
Name of Plan or Project:
US Highway 63 Bypass
Report Period:
4/1/2017 to 3/1/2018
Name of the Person Who Prepared this Annual Report:
Tom Stehn
City or County Contact Agency:
Private Sector Developer:
Rick Hoover
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
Phase 1 - 10 acres located in the southwest corner of 63 bypass and hwy 160, phase 2 - 45 acres located east of the 63 bypass between hwy 160 and K hwy
Description of Plan/Project:
Phase 1 - contains a national restaurant chain, strip mall, and a stand alone pharmacy. Phase 2 - future plans for retail
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:
0
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$155,436.57
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$825,013.83
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:
This Reporting Period:
$0.00
ANTICIPATED TIF REIMBURSEMENT COSTS:
Public Infrasture and Site Development Costs:
$7,000,000.00
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$0.00
Total Anticipated TIF Reimbursable Project Costs:
$7,000,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$32,005,500.00
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:
$112,790.00
Assessed Valuation Added to the Redevelopment Project:
$710,410.00
Anticipated Assessed Value at Time of District Termination:
$4,918,400.00
Total Amount of Base Year EATs:
$0.00
Total Amount of Base Year PILOTs:
$5,683.27
Total Annual EATs Anticipated at Time of District Termination:
$3,772,111.40
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
