Name of City and/or County:
Cameron
Name of Plan or Project:
MP-L4 Redevelopment Plan
Report Period:
10/1/2018 to 9/1/2019
Name of the Person Who Prepared this Annual Report:
Deborah Polk
City or County Contact Agency:
Private Sector Developer:
KMB Properties, L.L.C.
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
School District:
Cameron R-1
Area located generally near the southeast corner of the intersection of Baldwin Drive and Lana Drive in the City of Cameron consisting of less than one acre. Such area is commonly referred to as 616 Lana Drive and 628 Lana Drive, Cameron, Missouri.
Description of Plan/Project:
The plan calls for the development of the site for commercial use the expansion of an existing business in a single phase with total project costs originally estimated at 500,000 but actual cost of 384,830.94. The redevelopment plan calls for the use of tax increment financing TIF funds originally estimated in the amount of 130,000 but actual costs were 84,192.57 plus interest for improvements including without limitation site preparation and improvements, and for professional services, all as further set forth in the redevelopment plan.
Plan/Project Status:
Fully-Operational
How was the "but-for" Determination Made?:
Also improper subdivision, obsolete platting, grading
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 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:
$0.00
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:
This Reporting Period:
$0.00
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:
$74,192.57
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$11,511.09
Total Anticipated TIF Reimbursable Project Costs:
$85,703.66
ANTICIPATED TOTAL PROJECT COSTS:
$386,342.03
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:
$122,410.00
Assessed Valuation Added to the Redevelopment Project:
$59,620.00
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:
$0.00
Total Annual PILOTs Anticipated at Time of District Termination:
$0.00
Percentage of EATs Captured:
0%
Total Years Anticipated to Capture EATs:
0
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
23
