Name of City and/or County:
Bel-Ridge
Name of Plan or Project:
Natural Bridge Road TIF District
Report Period:
1/1/2017 to 12/1/2017
Name of the Person Who Prepared this Annual Report:
Peggy Kessler
City or County Contact Agency:
Private Sector Developer:
Clouds LLC
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
02/01/2006
School District:
Normandy School District & Special School District
The district encompasses approximately 133 acres generally located along the eastern side of l-170 between the southern and northern limits of Bel-Ridge.
Description of Plan/Project:
Redevelop area into a mx of commercial, retail and governmental uses.
Plan/Project Status:
Inactive
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:
$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:
Since Inception:
$5,567,296.00
This Reporting Period:
$0.00
Reimbursement of developer for eligible cost:
Since Inception:
$2,300,000.00
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:
$5,000,000.00
Property Acquisition and Relocation Costs:
$3,000,000.00
Project Implementation Costs:
$0.00
Total Anticipated TIF Reimbursable Project Costs:
$8,000,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$40,000,000.00
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:
$2,106,310.00
Assessed Valuation Added to the Redevelopment Project:
$8,658,470.00
Anticipated Assessed Value at Time of District Termination:
$0.00
Total Amount of Base Year EATs:
$0.00
Total Amount of Base Year PILOTs:
$254,073.00
Total Annual EATs Anticipated at Time of District Termination:
$126,600.00
Total Annual PILOTs Anticipated at Time of District Termination:
$0.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
20
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
20
