Name of City and/or County:
Ironton
Name of Plan or Project:
Redevelopment Plan for the Downtown TIF District
Report Period:
10/1/2018 to 9/1/2019
Name of the Person Who Prepared this Annual Report:
Leslie Seabaugh, SEMO Regional Planning Commission
City or County Contact Agency:
Private Sector Developer:
None
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
School District:
Arcadia Valley R-II
Approximately 267 acres including streets and highway right-of-way. The redevelopment area border Hwy. 21 in downtown Ironton.
Description of Plan/Project:
Rehabilitate vacant and predominately vacant structures in downtown, residential developments and increase retail, restaurants, bed and breakfast and residential loft space.
Plan/Project Status:
Starting-Up
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:
100
Estimate of Retained Jobs:
80
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:
Since Inception:
$482,854.00
This Reporting Period:
$148,581.00
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:
$11,582,500.00
Property Acquisition and Relocation Costs:
$1,150,000.00
Project Implementation Costs:
$909,000.00
Total Anticipated TIF Reimbursable Project Costs:
$13,641,500.00
ANTICIPATED TOTAL PROJECT COSTS:
$24,641,500.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
21
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$4,532,000.00
Assessed Valuation Added to the Redevelopment Project:
$19,810.00
Anticipated Assessed Value at Time of District Termination:
$7,424,487.00
Total Amount of Base Year EATs:
$495,767.00
Total Amount of Base Year PILOTs:
$287,836.00
Total Annual EATs Anticipated at Time of District Termination:
$916,523.00
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:
75%
Total Years Anticipated to Capture PILOTs:
23
