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Section 1: Description of the Plan and Project

Name of City and/or County:

Cape Girardeau

Name of Plan or Project:

Downtown Cape Girardeau TIF- RPA #1

Report Period:

11/1/2017 to 11/1/2018

Name of the Person Who Prepared this Annual Report:

Molly Mehner

Contact Information:

City or County Contact Agency:

Phone:

573-339-6320

Private Sector Developer:

Old Town Cape Historic Landmark Preservation Group

Person:

Jeffrey Maurer

Phone:

573-450-2285

Original Date Plan/Project Approved:

Ordinance Number:

4844

Most Recent Plan Amendment:

Ordinance Number:

State House District:

147

State Senate District:

School District:

Cape Girardeau Public School District 63

Location:

Property 1 Marquette TowerLocated on Parcel Nos. 211070009011000000 338 Broadway and 211070009013000000 0 N. Fountain PT LOT/Parking.Property 2 H&H Building/Marquette CenterLocated on Parcel Nos. 211070008006001001 400 Broadway, units 1, 2, 3 and 5, 211070008006001002 400 Broadway, unit 4, 211070008006001000 400 Broadway, common area, 211070008004000000 221 N. Fountain Street, and 211070008004001000 0 N. Fountain PT LOT/Parking.

Description of Plan/Project:

The first component of the project was the Marquette Tower Property. This part of the project involved the Marquette Tower Building which serves as the project epicenter of the more broadly defined Marquette Tech Center. The project is anchored by Codefi, a co-working and technology incubator organization that began in 2014. The second component is the redevelopment of the H&H Building and Marquette Center for a 91-key Marriott Hotel.

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:

100

Actual To Date:

175

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:

$83,286.69

Amount on Hand:
(As of Report Date)

$22,231.74

Economic Activity Taxes (EATs):

Total Received since inception:

$10,085.09

Amount on Hand:
(As of Report Date)

$4,726.00

Total Revenue on hand in the Special Allocation Fund as of Report Date:

$26,957.74

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:

$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:

$73,493.87

This Reporting Period:

$0.00

Reimbursement to city/county (or other public entity) for eligible costs:

Since Inception:

$0.00

This Reporting Period:

$1,000.00

ANTICIPATED TIF REIMBURSEMENT COSTS:

Public Infrasture and Site Development Costs:

$0.00

Property Acquisition and Relocation Costs:

$0.00

Project Implementation Costs:

$0.00

Other:

$0.00

Other:

$0.00

Total Anticipated TIF Reimbursable Project Costs:

$2,497,242.00

ANTICIPATED TOTAL PROJECT COSTS:

$21,153,520.00

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:

$1,995,710.00

Assessed Valuation Added to the Redevelopment Project:

$201,880.00

Anticipated Assessed Value at Time of District Termination:

$0.00

Total Amount of Base Year EATs:

$11,866.54

Total Amount of Base Year PILOTs:

$0.00

Total Annual EATs Anticipated at Time of District Termination:

$0.00

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:

90%

Total Years Anticipated to Capture PILOTs:

The Office of Missouri State Auditor

Scott Fitzpatrick

Downtown Cape Girardeau TIF- RPA #1

Section 1: Description of the Plan and Project

- None -

Section 2: Tax Increment Financing Revenues