Highway 51/61 Redevelopment Plan TIF
Section 1 Description of the Plan and Project  
Name of City and/or County: Perry County  
Name of Plan or Project: Highway 51/61 Redevelopment Plan TIF  
Report Period: 10/01/2017 to 09/01/2018  
Name of the person who prepared this annual report: Leslie Seabaugh, SEMO Regional Planning Commission  
Contact Information:    
City or County Contact Agency:  
Phone: 573-547-4242  
Private Sector Developer: none  
Person:  
Phone:  
Original Date Plan/Project Approved:  
Ordinance Number:  
Most Recent Plan Amendment:  
Ordinance Number:  
State House District: 145-116  
State Senate District: 27  
School District Perry County School District 32  
Location:    
Approximately 699 acres along US 61 and State Highway 51  
Description of Plan/Project:    
Street, Water, sewer, gas, property acquisition, parking  
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:    
- None -
Estimate of New Jobs: 500 Actual To Date: 451
Estimate of Retained Jobs: 200 Actual To Date: 200
     
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: $474,228.00 Amount on Hand: $70.00
    (As of Report Date)  
Economic Activity Taxes (EATs):      
Total received since inception: $44,614.71 Amount on Hand: $0.00
    (As of Report Date)  
       
Total Revenue on hand in the Special Allocation Fund as of Report Date: $70.00
   
EXPENDITURES FOR TOTAL PROJECT COSTS FUNDED BY TIF: Total Since Inception: Report Period Only:
Public Infrastructure (streets, utilities, etc): $3,470,766.47 $0.00
Site Development (grading, dirt moving, etc): $103,965.42 $528.00
Rehab of existing buildings: $0.00 $0.00
Acquisition of land or buildings: $0.00 $0.00
Other: $136,538.63 $895.00
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: $386,808.99 This Reporting Period: $0.00
ANTICIPATED TIF REIMBURSEMENT COSTS:    
Public Infrasture and Site Development Costs: $5,132,500.00  
Property Acquisition and Relocation Costs: $530,000.00  
Project Implementation Costs: $1,742,500.00  
Other: $1,072,250.00  
Other: $0.00  
Total Anticipated TIF Reimbursable Project Costs $12,427,250.00  
     
ANTICIPATED TOTAL PROJECT COSTS: $46,800,000.00  
TIF FINANCING METHOD:  
MATURITY OF TIF OBLIGATIONS:    
Original Estimate (# of Years to Retirement): 23  
Current Anticipated Estimate (# of Year to Retirement): 23  
     
ESTIMATED INCREASE IN TAX GENERATION:    
Original assessed value of the redevelopment project: $482,946.00  
Assessed valuation added to the redevelopment project: $2,054,317.00  
Anticipated Assessed Value at Time of District Termination: $15,826,407.00  
Total Amount of Base Year EATs: $0.00  
Total Amount of Base Year PILOTs: $23,622.91  
Total Annual EATs Anticipated at Time of District Termination: $12,686.00  
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