Name of City and/or County:
Warrensburg
Name of Plan or Project:
Keystone & West View Pad Sites Tax Increment Finan
Report Period:
10/1/2017 to 9/1/2018
Name of the Person Who Prepared this Annual Report:
Matthew Lue
City or County Contact Agency:
Private Sector Developer:
J.W. Franklin Co., and Keystone Hospitality, LLC
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
State House District:
054, 051
School District:
Warrensburg R-VI School District
403 E. Russell Ave., located on the north side of Russell Ave., and two pad sites at West View, located on tilesouth side of Russell Ave
Description of Plan/Project:
The Redevelopment Plan proposes the development of an 83 room hotel, four restaurants or fast foodbusinesses, 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
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:
189
Estimate of Retained Jobs:
189
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$58,059.99
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$26,054.43
Amount on Hand:
$0.00
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:
This Reporting Period:
$0.00
Reimbursement of developer for eligible cost:
Since Inception:
$82,117.11
This Reporting Period:
$0.00
Reimbursement to city/county (or other public entity) for eligible costs:
Since Inception:
$1,997.31
This Reporting Period:
$1,102.50
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
Total Anticipated TIF Reimbursable Project Costs:
$2,575,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$2,575,000.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
20
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
