Name of City and/or County:
Ste. Genevieve
Name of Plan or Project:
Valle Springs TIF District
Report Period:
5/1/2017 to 12/1/2017
Name of the Person Who Prepared this Annual Report:
Leslie Seabaugh, SEMO Regional Planning
City or County Contact Agency:
Private Sector Developer:
none
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
05/01/2002
School District:
Ste. Genevieve R-2
The Redevelopment Area is generally bounded by and lies along both sides of St. Route M in the area referred to as Valle Springs, also south of US 61 west of St. Route M and east of Mo Route 32. The redevelopment area encompasses approximately 506 acres including street and highway.
Description of Plan/Project:
The original TIF provided water, sewer and sidewalks to serve a developing industrial/commercial area. The amended plan provides for property assembly, water, sewer, and storm drainage, site improvement and relocation assistance.
Plan/Project Status:
District Dissolved
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:
120
Estimate of Retained Jobs:
200
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$4,785,883.00
Amount on Hand: (As of Report Date)
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$6,189,581.00
Amount on Hand: (As of Report Date)
$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:
$6,175,003.00
This Reporting Period:
$0.00
Reimbursement of developer for eligible cost:
Since Inception:
$211,658.00
This Reporting Period:
$0.00
Reimbursement to city/county (or other public entity) for eligible costs:
Since Inception:
$2,225,467.00
This Reporting Period:
$0.00
ANTICIPATED TIF REIMBURSEMENT COSTS:
Public Infrasture and Site Development Costs:
$5,129,134.00
Property Acquisition and Relocation Costs:
$3,729,000.00
Project Implementation Costs:
$83,124.00
Total Anticipated TIF Reimbursable Project Costs:
$9,400,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$14,534,009.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
0
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$1,498,518.00
Assessed Valuation Added to the Redevelopment Project:
$5,379,702.00
Anticipated Assessed Value at Time of District Termination:
$6,878,220.00
Total Amount of Base Year EATs:
$281,000.00
Total Amount of Base Year PILOTs:
$74,926.00
Total Annual EATs Anticipated at Time of District Termination:
$678,918.00
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