Name of City and/or County:
Madison County
Name of Plan or Project:
Redevelopment Plan for the Hwy 67/72 Tax Increment
Report Period:
10/1/2018 to 9/1/2019
Name of the Person Who Prepared this Annual Report:
Leslie Seabaugh, SEMO Regional Planning Commission
City or County Contact Agency:
Private Sector Developer:
none
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
10/01/2004
School District:
Frederictown R-1
Approximately 1200 acres along both sides of US 67 and at the 4 corners of US 67 and state Route 72
Description of Plan/Project:
Providing infrastructure to the City of Fredericktown's industrial park and to help with hazard mitigation due to flooding of the City's water plant. Also provide a by-pass around flood areas and to make road and street improvements and signals.
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:
0
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$3,297,382.00
Amount on Hand:
$391,779.00
Economic Activity Taxes (EATs):
Total Received since inception:
$5,297,469.00
Amount on Hand:
$201,933.00
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:
$8,545,502.31
This Reporting Period:
$442,208.93
Reimbursement of developer for eligible cost:
Since Inception:
$848,440.00
This Reporting Period:
$0.00
Reimbursement to city/county (or other public entity) for eligible costs:
This Reporting Period:
$0.00
ANTICIPATED TIF REIMBURSEMENT COSTS:
Public Infrasture and Site Development Costs:
$13,550,000.00
Property Acquisition and Relocation Costs:
$100,000.00
Project Implementation Costs:
$1,550,000.00
Total Anticipated TIF Reimbursable Project Costs:
$15,200,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$71,000,000.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
6
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$159,800.00
Assessed Valuation Added to the Redevelopment Project:
$4,252,090.00
Anticipated Assessed Value at Time of District Termination:
$22,728,443.00
Total Amount of Base Year EATs:
$250,072.00
Total Amount of Base Year PILOTs:
$7,431.00
Total Annual EATs Anticipated at Time of District Termination:
$461,150.00
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
