View Tif

Section 1: Description of the Plan and Project

Name of City and/or County:

Columbia

Name of Plan or Project:

Tiger Hotel Redevelopment TIF

Report Period:

10/1/2017 to 9/1/2018

Name of the Person Who Prepared this Annual Report:

LYNN CANNON

Contact Information:

City or County Contact Agency:

Phone:

5738747333

Private Sector Developer:

COLUMBIA HOTEL INVESTMENT INC.

Person:

GLYN LAVERICK

Phone:

573-875-8888

Original Date Plan/Project Approved:

Ordinance Number:

20350

Most Recent Plan Amendment:

03/01/2011

Ordinance Number:

20905

State House District:

State Senate District:

School District:

COLUMBIA PUBLIC SCHOOL

Location:

The property is located at 23 S. Eighth Street in downtown Columbia and covers approx. 111,180 square feet. Commonly known as the former TIGER Hotel.

Description of Plan/Project:

Transform the former hotel from its current use as retirement apartments into a newly renovated boutique style historic lodging facility.

Plan/Project Status:

Fully-Operational

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:

$302,176.95

Amount on Hand:
(As of Report Date)

$0.00

Economic Activity Taxes (EATs):

Total Received since inception:

$107,796.83

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:

$100,000.00

$0.00

AMOUNT PAID ON DEBT SERVICES:

Payments of principal and interest on outstanding bonded debt:

Since Inception:

$421,228.64

This Reporting Period:

$63,541.06

Reimbursement of developer for eligible cost:

Since Inception:

$1,785,000.00

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:

$235,000.00

Property Acquisition and Relocation Costs:

$0.00

Project Implementation Costs:

$200,000.00

Other:

$1,350,000.00

Other:

$0.00

Total Anticipated TIF Reimbursable Project Costs:

$1,785,000.00

ANTICIPATED TOTAL PROJECT COSTS:

$8,925,000.00

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:

$322,700.00

Assessed Valuation Added to the Redevelopment Project:

$1,043,699.00

Anticipated Assessed Value at Time of District Termination:

$2,925,587.00

Total Amount of Base Year EATs:

$13,781.14

Total Amount of Base Year PILOTs:

$21,373.78

Total Annual EATs Anticipated at Time of District Termination:

$41,588.00

Total Annual PILOTs Anticipated at Time of District Termination:

$0.00

Percentage of EATs Captured:

50%

Total Years Anticipated to Capture EATs:

Percentage of PILOTs Captured:

100%

Total Years Anticipated to Capture PILOTs:

The Office of Missouri State Auditor

Scott Fitzpatrick

Tiger Hotel Redevelopment TIF

Section 1: Description of the Plan and Project

- None -

Section 2: Tax Increment Financing Revenues