60 West-RPA-2A
Section 1 Description of the Plan and Project  
Name of City and/or County: Sikeston  
Name of Plan or Project: 60 West-RPA-2A  
Report Period: 07/01/2018 to 06/01/2019  
Name of the person who prepared this annual report: Carroll Couch  
Contact Information:    
City or County Contact Agency:  
Phone: 573-471-2511  
Private Sector Developer: Cotton Ridge Development Co.,LLC  
Person: Michael Bohannon  
Phone: 573-471-7122  
Original Date Plan/Project Approved:  
Ordinance Number: 5973  
Most Recent Plan Amendment: 05/01/2016  
Ordinance Number: 6022  
State House District: 149  
State Senate District: 27  
School District New Madrid R-1  
Location:    
Located at the Northwest corner of HWYS 60/61 West of Wal Mart  
Description of Plan/Project:    
Construction of 100 room hotel  
Plan/Project Status: Fully-Operational
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: 10 Actual To Date: 10
Estimate of Retained Jobs: 0 Actual To Date: 0
     
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: $48,301.00 Amount on Hand: $0.00
    (As of Report Date)  
Economic Activity Taxes (EATs):      
Total received since inception: $0.00 Amount on Hand: $0.00
    (As of Report Date)  
       
Total Revenue on hand in the Special Allocation Fund as of Report Date: $0.00
   
EXPENDITURES FOR TOTAL PROJECT COSTS FUNDED BY TIF: Total Since Inception: Report Period Only:
Public Infrastructure (streets, utilities, etc): $0.00 $0.00
Site Development (grading, dirt moving, etc): $0.00 $0.00
Rehab of existing buildings: $0.00 $0.00
Acquisition of land or buildings: $0.00 $0.00
Other: $0.00 $0.00
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: $43,435.00 This Reporting Period: $0.00
Reimbursement to city/county (or other public entity) for eligible costs:    
Since Inception: $0.00 This Reporting Period: $0.00
ANTICIPATED TIF REIMBURSEMENT COSTS:    
Public Infrasture and Site Development Costs: $2,900,000.00  
Property Acquisition and Relocation Costs: $0.00  
Project Implementation Costs: $0.00  
Other: $0.00  
Other: $0.00  
Total Anticipated TIF Reimbursable Project Costs $2,900,000.00  
     
ANTICIPATED TOTAL PROJECT COSTS: $11,545,000.00  
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: $167.00  
Assessed valuation added to the redevelopment project: $1,162,590.00  
Anticipated Assessed Value at Time of District Termination: $2,770,800.00  
Total Amount of Base Year EATs: $0.00  
Total Amount of Base Year PILOTs: $107,300.00  
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