Name of City and/or County:
Kansas City
Name of Plan or Project:
1200 Main/South Loop Project 01 (KC LIVE) TIF
Report Period:
5/1/2017 to 4/1/2018
Name of the Person Who Prepared this Annual Report:
Sandra L. Rayford
City or County Contact Agency:
Private Sector Developer:
Kansas City Live, LLC
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
08/01/2017
School District:
Kansas City, MO
Project 1 is generally bounded by 13th St on the north, Truman Rd on the south Grand Blvd on the east and Baltimore Ave on the west. Project 1A includes the ground rights to the block bounded by 12th St on the north, 13th St on the south, Walnut St on the east and Main St on the west, excepting the property at the northeast corner of the block.
Description of Plan/Project:
Project 1 proposed acquisition, development, construction and rehabilitation of 350,000 to 425,000 sq ft of entertainment and retail uses, 2,000 parking spaces, streetscape, park development and associated public infrastructure and utility 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:
2304
Estimate of Retained Jobs:
1493
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$4,905,149.00
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$24,701,149.00
Amount on Hand:
$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:
$81,940,720.00
This Reporting Period:
$5,952,238.00
Reimbursement of developer for eligible cost:
This Reporting Period:
$0.00
Reimbursement to city/county (or other public entity) for eligible costs:
This Reporting Period:
$0.00
ANTICIPATED TIF REIMBURSEMENT COSTS:
Public Infrasture and Site Development Costs:
$11,995,822.00
Property Acquisition and Relocation Costs:
$22,950,303.00
Project Implementation Costs:
$24,975,846.00
Total Anticipated TIF Reimbursable Project Costs:
$164,948,209.00
ANTICIPATED TOTAL PROJECT COSTS:
$321,135,195.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
21
Current Anticipated Estimate (# of Year to Retirement):
16
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$1,440,000.00
Assessed Valuation Added to the Redevelopment Project:
$26,767,883.00
Anticipated Assessed Value at Time of District Termination:
$0.00
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:
$7,559,068.00
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
