Keystone & West View Pad Sites Tax Increment Finan
Section 1 Description of the Plan and Project  
Name of City and/or County: Warrensburg  
Name of Plan or Project: Keystone & West View Pad Sites Tax Increment Finan  
Report Period: 10/01/2016 to 09/01/2017  
Name of the person who prepared this annual report: Matthew Lue  
Contact Information:    
City or County Contact Agency:  
Phone: 660-262-4640  
Private Sector Developer: J.W. Franklin Co., and Keystone Hospitality, LLC,  
Person: Jeff Franklin  
Phone: 660-747-9854  
Original Date Plan/Project Approved:  
Ordinance Number: 5178  
Most Recent Plan Amendment:  
Ordinance Number:  
State House District: 054, 051  
State Senate District: 21  
School District Warrensburg R-VI School District  
Location:    
403 E. Russell Ave., located on the north side of Russell Ave., and two pad sites at West View, located on tile south side of Russell Ave  
Description of Plan/Project:    
The Redevelopment Plan proposes the development of an 83 room hotel, four restaurants or fast food businesses, a 10,000 sq. ft. office building and a 3,000 sq. ft. retail building totaling approximately 78,000 sq. ft. The Redevelopment Plan calls for the developer to prepare the pad sites for sale to other owners/developers for construction of the stated uses.  
Plan/Project Status: Under Construction
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: 189 Actual To Date: 80
Estimate of Retained Jobs: 189 Actual To Date: 70
     
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: $29,001.26 Amount on Hand: $0.00
    (As of Report Date)  
Economic Activity Taxes (EATs):      
Total received since inception: $22,086.54 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): $364,956.00 $253,456.00
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: $39,149.73 This Reporting Period: $0.00
Reimbursement to city/county (or other public entity) for eligible costs:    
Since Inception: $894.81 This Reporting Period: $894.81
ANTICIPATED TIF REIMBURSEMENT COSTS:    
Public Infrasture and Site Development Costs: $364,956.00  
Property Acquisition and Relocation Costs: $2,135,044.00  
Project Implementation Costs: $75,000.00  
Other: $0.00  
Other: $0.00  
Total Anticipated TIF Reimbursable Project Costs $2,575,000.00  
     
ANTICIPATED TOTAL PROJECT COSTS: $2,575,000.00  
TIF FINANCING METHOD:  
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: $138,051.00  
Assessed valuation added to the redevelopment project: $205,099.00  
Anticipated Assessed Value at Time of District Termination: $6,144,000.00  
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: $10,976,410.00  
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