Sedalia Midtown TIF Redevelopment Plan & Project
Section 1 Description of the Plan and Project  
Name of City and/or County: Sedalia  
Name of Plan or Project: Sedalia Midtown TIF Redevelopment Plan & Project  
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 x1115  
Private Sector Developer: None  
Person:  
Phone:  
Original Date Plan/Project Approved:  
Ordinance Number: 9684  
Most Recent Plan Amendment: 07/01/2018  
Ordinance Number: 10750  
State House District: 118  
State Senate District: 28  
School District Sedalia 200  
Location:    
A large portion of the historic downtown of Sedalia, Missouri. The area is bounded generally by 9th Street and Broadway Avenue on the South, Moniteau Avenue on the West, Marvin Street on the East and Jefferson Street on the North. The area consists of 1789 parcels which includes residential, industrial and commercial areas in or near the downtown area.  
Description of Plan/Project:    
The redevelopment plan focuses resources to provide opportunities for infrastructure development and rehab, residential reinvestment and private investment. Activities to be undertaken as part of the redevelopment plan to achieve this goal include building rehab, infill development, street improvements and enhancements to pedestrian facilities. This investment is intended to spur additional private development throughout the district.  
Plan/Project Status: Under Construction
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
Advantage Hiring Services 505 S. Ohio 660-553-5266
Anytime Fitness 110 W. 3rd 660-951-1010
Bridges of Missouri 122 S. Ohio 660-827-7517
Craft Beer Cellar 800 South Ohio
Mason Jar 216 S Ohio New Business
Mi Pueblito 620 South Osage
Nostalgia Vintage Apparel 515 S. Ohio 660-851-2749
Salon Vogue 313 S. Ohio 660-826-4826
Take 2 Resale 307 S. Ohio
Twarkles 307 S Ohio New Business
Two-Bit Barbershop 404 South Ohio 660-851-2999
Estimate of New Jobs: 26 Actual To Date: 136
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: $709,376.22 Amount on Hand: $0.00
    (As of Report Date)  
Economic Activity Taxes (EATs):      
Total received since inception: $3,757.92 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): $129,908.17 $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: $86,280.00 $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: $76,160.73 This Reporting Period: $11,557.87
ANTICIPATED TIF REIMBURSEMENT COSTS:    
Public Infrasture and Site Development Costs: $700,000.00  
Property Acquisition and Relocation Costs: $0.00  
Project Implementation Costs: $50,000.00  
Other: $1,598,000.00  
Other: $100,000.00  
Total Anticipated TIF Reimbursable Project Costs $3,086,066.00  
     
ANTICIPATED TOTAL PROJECT COSTS: $12,599,500.00  
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: $7,277,060.00  
Assessed valuation added to the redevelopment project: $2,156,480.00  
Anticipated Assessed Value at Time of District Termination: $7,593,334.00  
Total Amount of Base Year EATs: $904,000.00  
Total Amount of Base Year PILOTs: $248,677.00  
Total Annual EATs Anticipated at Time of District Termination: $623,077.00  
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