50 Highway Tax Increment Financing Plan
Section 1 Description of the Plan and Project  
Name of City and/or County: Sedalia  
Name of Plan or Project: 50 Highway Tax Increment Financing Plan  
Report Period: 08/01/2017 to 08/01/2018  
Name of the person who prepared this annual report: John Simmons  
Contact Information:    
City or County Contact Agency:  
Phone: 660-827-3000  
Private Sector Developer: Star Acquisitions  
Person: Timothy D. Harris  
Phone: 816-781-3322  
Original Date Plan/Project Approved:  
Ordinance Number: 10392  
Most Recent Plan Amendment:  
Ordinance Number:  
State House District: 118  
State Senate District: 28  
School District Pettis county R-XII & Sedalia 200  
Location:    
Land generally located North of Highway 50, East of Oak Grove Lane, and south of West Main Street and land generally located South of Highway 50, East of Westwood Avenue, and West of Winchester Road.  
Description of Plan/Project:    
Redevelopment of two areas of vacant land connected by Highway 50 right-of-way and including the design and construction of approximately 22,000 square feet of restaurant, retail, and/or other commercial facilities. The TIF resources are need to offset the extraordinary costs of the development to cure the blight.  
Plan/Project Status: Starting-Up
Area Type:  
How was the "but-for" determination made?:    
 
Number of Relocated Residences During This Report Period: 0    
Number of Relocation Businessess During This Report Period: 0    
Number of Parcels Acquired Through Use of Eminent Domain Power During This Report Period: 0    
Identify any business that have relocation to the Redevelopment Area during this report period:    
Name Address Phone Number New or Relocated? Rel. from What City/County
Aspen Dental 3503 W Broadway Blvd, Sedalia, MO 65301 (660) 460-4176
Scooters Coffee 3507 W Broadway Blvd, Sedalia, MO 65301 (660) 851-0220
Estimate of New Jobs: 0 Actual To Date: 0
Estimate of Retained Jobs: 0 Actual To Date: 0
     
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: $0.00
    (As of Report Date)  
Economic Activity Taxes (EATs):      
Total received since inception: $0.00 Amount on Hand: $0.00
    (As of Report Date)  
       
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 $0.00
Site Development (grading, dirt moving, etc): $0.00 $0.00
Rehab of existing buildings: $0.00 $0.00
Acquisition of land or buildings: $0.00 $0.00
Other: $0.00 $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: $903,434.00  
Property Acquisition and Relocation Costs: $1,155,000.00  
Project Implementation Costs: $230,000.00  
Other: $0.00  
Other: $0.00  
Total Anticipated TIF Reimbursable Project Costs $2,288,464.00  
     
ANTICIPATED TOTAL PROJECT COSTS: $11,129,616.00  
TIF FINANCING METHOD:  
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: $214,730.00  
Assessed valuation added to the redevelopment project: $0.00  
Anticipated Assessed Value at Time of District Termination: $2,203,554.00  
Total Amount of Base Year EATs: $0.00  
Total Amount of Base Year PILOTs: $14,854.00  
Total Annual EATs Anticipated at Time of District Termination: $563,655.00  
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