Springfield Plaza TIF
Section 1 Description of the Plan and Project  
Name of City and/or County: Springfield  
Name of Plan or Project: Springfield Plaza TIF  
Report Period: 01/01/2018 to 12/01/2018  
Name of the person who prepared this annual report: Matt D. Schaefer  
Contact Information:    
City or County Contact Agency:  
Phone: 417-864-1035  
Private Sector Developer: Springfield Plaza Real Estate, Inc.  
Person: Thomas B. Rankin, President  
Phone: 417-887-8826  
Original Date Plan/Project Approved:  
Ordinance Number: 26231  
Most Recent Plan Amendment:  
Ordinance Number:  
State House District: 133  
State Senate District: 30  
School District Republic R-III  
Location:    
The Springfield Plaza TIF Redevelopment Area consists of approximately 96 acres generally located near the southwest corner of the intersection of West Sunshine Street and South West Bypass.  
Description of Plan/Project:    
The Redevelopment Plan proposes to redevelop the Area into a 432,500 square foot retail and office mixed-use development. TIF revenues will be used to fund approximately 9.58 million of public improvements in and around the Redevelopment Area. Such improvements include, but are not limited to road and intersection improvements, new public streets, storm water facilities, sanitary sewers, and utilities.  
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:    
Name Address Phone Number New or Relocated? Rel. from What City/County
Bio Life Plasma Services 1815 McCurry St 417-877-1201 New Business
None
Russell Cellular (Verizon) 3800 W Sunshine St, Springfield, MO 65807 417-877-6650 New business
Sport Clips 3800 W Sunshine St, Springfield, MO 65807 417-942-9510 New business
Estimate of New Jobs: 0 Actual To Date: 114
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: $692.81 Amount on Hand: $164.70
    (As of Report Date)  
Economic Activity Taxes (EATs):      
Total received since inception: $317,020.58 Amount on Hand: $75,365.11
    (As of Report Date)  
       
Total Revenue on hand in the Special Allocation Fund as of Report Date: $75,529.81
   
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: $242,183.57 $242,183.57
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: $242,183.57 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: $8,734,000.00  
Property Acquisition and Relocation Costs: $0.00  
Project Implementation Costs: $250,000.00  
Other: $595,016.00  
Other: $0.00  
Total Anticipated TIF Reimbursable Project Costs $9,579,016.00  
     
ANTICIPATED TOTAL PROJECT COSTS: $78,454,016.00  
TIF FINANCING METHOD:  
MATURITY OF TIF OBLIGATIONS:    
Original Estimate (# of Years to Retirement): 18  
Current Anticipated Estimate (# of Year to Retirement): 18  
     
ESTIMATED INCREASE IN TAX GENERATION:    
Original assessed value of the redevelopment project: $1,292,150.00  
Assessed valuation added to the redevelopment project: $2,294,200.00  
Anticipated Assessed Value at Time of District Termination: $14,686,843.00  
Total Amount of Base Year EATs: $0.00  
Total Amount of Base Year PILOTs: $73,034.90  
Total Annual EATs Anticipated at Time of District Termination: $682,000.00  
Total Annual PILOTs Anticipated at Time of District Termination: $0.00  
Percentage of EATs Captured: 50%  
Total Years Anticipated to Capture EATs: 18
Percentage of PILOTs Captured: 75%  
Total Years Anticipated to Capture PILOTs: 18