60/61 TIF District
Section 1 Description of the Plan and Project  
Name of City and/or County: Sikeston  
Name of Plan or Project: 60/61 TIF District  
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: Four Corners Development Co., Inc.  
Person: Scott Matthews  
Phone: 573-471-1960  
Original Date Plan/Project Approved:  
Ordinance Number: 5326,5329,5333  
Most Recent Plan Amendment: 06/01/2002  
Ordinance Number: 5461  
State House District: 149  
State Senate District: 25  
School District Sikeston R-VI  
Location:    
At the intersection of HWYS 60 and 61 in Southeast Missouri  
Description of Plan/Project:    
A mixture of commercial and residential development  
Plan/Project Status: District Dissolved
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
NONE
Estimate of New Jobs: 180 Actual To Date: 387
Estimate of Retained Jobs: 80 Actual To Date: 100
     
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: $1,536,707.00 Amount on Hand: $0.00
    (As of Report Date)  
Economic Activity Taxes (EATs):      
Total received since inception: $5,226,973.00 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): $5,027,400.00 $0.00
Site Development (grading, dirt moving, etc): $265,282.00 $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: $5,103,011.00 This Reporting Period: $0.00
Reimbursement of developer for eligible cost:    
Since Inception: $0.00 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: $6,775,000.00  
Property Acquisition and Relocation Costs: $75,000.00  
Project Implementation Costs: $150,000.00  
Other: $0.00  
Other: $0.00  
Total Anticipated TIF Reimbursable Project Costs $7,000,000.00  
     
ANTICIPATED TOTAL PROJECT COSTS: $43,707,000.00  
TIF FINANCING METHOD:  
MATURITY OF TIF OBLIGATIONS:    
Original Estimate (# of Years to Retirement): 15  
Current Anticipated Estimate (# of Year to Retirement): 0  
     
ESTIMATED INCREASE IN TAX GENERATION:    
Original assessed value of the redevelopment project: $2,592,760.00  
Assessed valuation added to the redevelopment project: $3,488,880.00  
Anticipated Assessed Value at Time of District Termination: $6,000,000.00  
Total Amount of Base Year EATs: $126,031.00  
Total Amount of Base Year PILOTs: $1,830,660.00  
Total Annual EATs Anticipated at Time of District Termination: $8,045,776.00  
Total Annual PILOTs Anticipated at Time of District Termination: $0.00  
Percentage of EATs Captured: 50%  
Total Years Anticipated to Capture EATs: 12
Percentage of PILOTs Captured: 100%  
Total Years Anticipated to Capture PILOTs: 12