Name of City and/or County:
Bonne Terre
Name of Plan or Project:
Highway 47/67 TIF District Development
Report Period:
10/1/2018 to 9/1/2019
Name of the Person Who Prepared this Annual Report:
Greg Shinn, CPA
City or County Contact Agency:
Private Sector Developer:
The Ordchard LCJames Bess
Person:
Howard WoodJames Bess
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
10/01/2015
School District:
North St Francois County R-1
Area 1 - Bounded by City limits and Hwy 67 on the north, Leadbelt Golf Course on the east, Turkey Creek to the west and Hwy 47 to the south.
Description of Plan/Project:
Each area includes water, sewer and stormwater extensions, street, curbs and gutters and environmental cleanup. In addition, Area 1 also includes property acquisition which was used to purchase and develop a small business incubator site.
Plan/Project Status:
Under Construction
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:
500
Estimate of Retained Jobs:
200
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$1,304,148.00
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$1,054,982.00
Amount on Hand:
$195,955.00
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:
$1,649,672.00
This Reporting Period:
$241,080.00
Reimbursement of developer for eligible cost:
Since Inception:
$406,926.00
This Reporting Period:
$0.00
Reimbursement to city/county (or other public entity) for eligible costs:
Since Inception:
$48,791.00
This Reporting Period:
$0.00
ANTICIPATED TIF REIMBURSEMENT COSTS:
Public Infrasture and Site Development Costs:
$9,122,246.00
Property Acquisition and Relocation Costs:
$40,000.00
Project Implementation Costs:
$1,425,000.00
Total Anticipated TIF Reimbursable Project Costs:
$11,510,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$41,893,792.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
3
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$68,830.00
Assessed Valuation Added to the Redevelopment Project:
$2,981,570.00
Anticipated Assessed Value at Time of District Termination:
$11,388,044.00
Total Amount of Base Year EATs:
$2,192.00
Total Amount of Base Year PILOTs:
$0.00
Total Annual EATs Anticipated at Time of District Termination:
$512,809.00
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
