Name of City and/or County:
Rolla
Name of Plan or Project:
Westside Marketplace Redevelopment Project
Report Period:
10/1/2017 to 9/1/2018
Name of the Person Who Prepared this Annual Report:
James Shields
City or County Contact Agency:
Private Sector Developer:
UTW Rolla Development, LLC
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
School District:
Rolla 31 School District
The approximately 144 acres of land located on the west, northwest, and north sides of the intersection of Interstate 44 I-44 and Kingshighway. The Area is within the City of Rolla, Missouri, on its west side, with a small portion of the Area in unincorporated Phelps County.
Description of Plan/Project:
Envisioned to be implemented over three phases in three separate RPAs. Each RPA will involve the replatting of land, the construction of public infrastructure to serve the development within the applicable RPA, and the construction of new commercial buildings and related site improvements
Plan/Project Status:
Fully-Operational
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 New Jobs:
250
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:
$56,045.00
Amount on Hand:
$56,045.00
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:
$1,086,147.00
This Reporting Period:
$1,086,147.00
Reimbursement of developer for eligible cost:
Since Inception:
$1,500,000.00
This Reporting Period:
$0.00
Reimbursement to city/county (or other public entity) for eligible costs:
Since Inception:
$75,000.00
This Reporting Period:
$0.00
ANTICIPATED TIF REIMBURSEMENT COSTS:
Public Infrasture and Site Development Costs:
$0.00
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$0.00
Total Anticipated TIF Reimbursable Project Costs:
$0.00
ANTICIPATED TOTAL PROJECT COSTS:
$0.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
17
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$130,658.00
Assessed Valuation Added to the Redevelopment Project:
$254,430.00
Anticipated Assessed Value at Time of District Termination:
$13,438,628.00
Total Amount of Base Year EATs:
$0.00
Total Amount of Base Year PILOTs:
$0.00
Total Annual EATs Anticipated at Time of District Termination:
$1,655,700.00
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:
75%
Total Years Anticipated to Capture PILOTs:
22
