Name of City and/or County:
Branson
Name of Plan or Project:
Branson Hills Redevelopment Project
Report Period:
10/1/2006 to 9/30/2007
Name of the Person Who Prepared this Annual Report:
Ferris Brown
City or County Contact Agency:
Ferris Brown, Finance Director
Private Sector Developer:
Ozark Diversied Development Company
Original Date Plan/Project Approved:
7/12/2004
Ordinance Number:
2004-096
Most Recent Plan Amendment:
3/2/2005
Ordinance Number:
2005-021
School District:
Branson R-4
141 acres located at the northwest and southwest corners of the intersection of US Highway 65 and Branson Hills Pkwy
Description of Plan/Project:
Construction of of approximately 796,824sf retail space for a Home Depot, Target, TJ Maxx, Kohls Department Store, Wal-Mart, Sam's Club and 13 outparcels.
Plan/Project Status:
Fully operational
How was the "but-for" Determination Made?:
Unusual/extraordinary costs made project financially unfeasible in the market, required significant public infrastructure investment to remedy existing inadequate conditions and capacity to support development and required parcel assembly/relocation costs
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:
1
Identify Any Businesses That Have Relocation to the Redevelopment Area During this Report Period:
Estimate of New Jobs:
750
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:
$452,704.00
Amount on Hand:
$452,704.00
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):
$8,523,437.00
$2,451,241.00
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:
Since Inception:
$12,523,437.00
This Reporting Period:
$2,451,241.00
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:
$24,865,799.00
Property Acquisition and Relocation Costs:
$19,234,509.00
Project Implementation Costs:
$3,899,692.00
Total Anticipated TIF Reimbursable Project Costs:
$48,000,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$119,495,634.00
TIF FINANCING METHOD:
Other Bond
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:
$0.00
Assessed Valuation Added to the Redevelopment Project:
$0.00
Anticipated Assessed Value at Time of District Termination:
$38,108,146.00
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:
$4,029,460.00
Total Annual PILOTs Anticipated at Time of District Termination:
$4,029,460.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
23
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
23
