Name of City and/or County:
Kansas City
Name of Plan or Project:
11th Street TIF Plan
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:
11th Street Corridor Redevelopment Corporation
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
05/01/2015
School District:
Kansas City, MO
Generally bounded by 6th & 7th Streets on the north, 14th Street on the south, Broadway Blvd and Wyandotte Street on the east and Pennysylvania Avenue and Summit Street on the west.
Description of Plan/Project:
Rehabilitation of multiple historic buildings and parking garages, development of additional office, commercial, & residential space along with the necessary utility and streetscape 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:
895
Estimate of Retained Jobs:
2100
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$28,670,000.00
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$64,380,000.00
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:
$3,250,000.00
$219,673.00
AMOUNT PAID ON DEBT SERVICES:
Payments of principal and interest on outstanding bonded debt:
This Reporting Period:
$0.00
Reimbursement of developer for eligible cost:
Since Inception:
$79,950,000.00
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:
$890,558.00
Property Acquisition and Relocation Costs:
$8,421,127.00
Project Implementation Costs:
$3,294,965.00
Total Anticipated TIF Reimbursable Project Costs:
$102,274,030.00
ANTICIPATED TOTAL PROJECT COSTS:
$267,936,524.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
0
Current Anticipated Estimate (# of Year to Retirement):
0
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$8,225,129.00
Assessed Valuation Added to the Redevelopment Project:
$28,655,599.00
Anticipated Assessed Value at Time of District Termination:
$39,875,207.00
Total Amount of Base Year EATs:
$766,540.00
Total Amount of Base Year PILOTs:
$0.00
Total Annual EATs Anticipated at Time of District Termination:
$2,446,199.00
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
