|
Old Town Redevelopment Area TIF
|
|
Section 1 Description of the Plan and Project |
|
|
Name of City and/or County: |
St. Peters
|
|
|
Name of Plan or Project: |
Old Town Redevelopment Area TIF
|
|
|
Report Period: |
10/01/2018 to 09/01/2019
|
|
|
Name of the person who prepared this annual report: |
Julie Powers and Rita Westerson
|
|
|
Contact Information: |
|
|
|
City or County Contact Agency: |
|
|
|
Phone: |
636-477-6600
|
|
|
Private Sector Developer: |
na
|
|
|
Person: |
|
|
|
Phone: |
|
|
|
Original Date Plan/Project Approved: |
|
|
|
Ordinance Number: |
2469
|
|
|
Most Recent Plan Amendment: |
|
|
|
Ordinance Number: |
|
|
|
State House District: |
17
|
|
|
State Senate District: |
23
|
|
|
School District |
Ft Zumwalt
|
|
|
Location: |
|
|
|
The redevelopment area is bounded on the east by Spencer Cree, on the south by the right-of-way of Interstate 70, on the west by Dardenne Creek and on the north by the Corps of Engineers Old Town St. Peters Levee.
|
|
|
Description of Plan/Project: |
|
|
|
The plan permits the use of TIF Funds to increase the flood protection to the 500-year level from 100 year protection to encourage redevelopment of tracts fronting I-70, revitalization of Old Town St. Peters and development of infrastructure for development of industrial and commercial sites. Infrastructure improvements near a new commercial development have been completed the large commercial development is completed and open for business.
|
|
|
Plan/Project Status: |
Seeking Developer
|
|
|
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 |
|
All-Stars Transmission, LLC |
320 Depot Street |
(636) 397-0220 |
Relocated |
St. Charles |
|
American Builders & Contractors Supply Co. |
5140 N. Service Road |
(636) 279-1398 |
New |
|
|
ASAP Lock & Key, LLC |
300 Main Street |
(636) 634-8062 |
New |
|
|
Auto Star Motor Co, LLC |
148 N. Gatty |
(636) 397-4677 |
Relocated |
O'Fallon |
|
Bob Marquart Masonry |
1100 Mid Rivers Industrial |
(636) 443-1900 |
Relocated |
Belfountain Neighbors |
|
Budget HVAC & Plumbing, LLC |
310 Main Street |
(636) 887-2800 |
Relocated |
Wright City |
|
Country Club Limousines |
5140 North Service Road |
(636) 928-5466 |
|
St. Charles (city) |
|
Da-Elite Bar & Grill, LLC |
100 Main Street |
(314) 949-6012 |
New |
|
|
Done Right Lawn Care LLC |
148 N. Gatty Drive |
636-373-3902 |
|
New business |
|
Duggan Contracting Corporation |
1130 Mid Rivers Industrial |
(636) 936-1566 |
Relocated |
St. Peters |
|
El Patio Café, LLC |
100 Main Street |
(636) 978-0117 |
New |
|
|
Fixture Concepts |
1110 Mid Rivers Industrial |
(636) 441-2210 |
Relocated |
St. Peters |
|
Innovative Drywall Solutions |
1120 Mid Rivers Industrial |
(636) 936-2288 |
New |
|
|
Kenney Outdoor Solutions |
82 Didion Drive |
(314) 731-1499 |
New |
|
|
M & M Guns & Supplies, LLC |
16 Main St. |
(636) 387-1199 |
New |
|
|
Malone's Landscaping |
80 Didion Drive |
(636) 970-1099 |
Relocated |
Florissant |
|
Mark's Karts |
338 Depot Avenue |
(314) 313-9008 |
New |
|
|
Mary's Morsels & More |
119 Main St. |
(636) 279-1550 |
New |
|
|
Mattingly Lumber & Millwork, Inc. |
119 Didion Drive |
(636) 343-3877 |
New |
|
|
Metro Lift Propane |
167 Ecology |
(636) 397-3010 |
|
Hazelwood |
|
Michael's Carpet & Linoleum, Inc. |
106 N. Church Street |
(636) 970-6000 |
New |
|
|
Old Town Auto & Truck Repair, LLC |
338 Depot Street |
(636) 397-0100 |
New |
|
|
Palmer Insurance & Investments |
305 Depot Street |
(636) 970-2000 |
Relocated |
St. Charles City |
|
Pavement Solutions |
20 Mid Rivers Trade Ct. |
(314) 731-0500 |
New |
|
|
Professional Scuba Repair |
119 Didion Drive |
(636) 577-5626 |
New |
|
|
R & A Contracting, Inc. |
1480 Mid-Rivers Industrial Drive |
|
New |
|
|
Ronan New Vision Signs and Solutions |
330 Depot Avenue |
636-397-5112 |
|
New Business |
|
SMF, Inc. |
1140 Mid Rivers Industrial |
(314) 862-0918 |
Relocated |
St. Louis city |
|
Stevenson Heating & Cooling |
103 Main St. |
(314) 602-4432 |
New |
|
|
Trademark Real Estate |
219 Main Street |
636-614-4888 |
|
New Business |
|
Twin Rivers Kennel |
101 Didion Dr. |
(636) 397-3323 |
Relocated |
St. Charles County |
|
Wm. Noble & Co, LLC |
5160 N. Service Road |
(636) 244-3107 |
New |
|
|
|
Estimate of New Jobs: |
0
|
Actual To Date: |
591
|
|
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: |
$11,187,298.00
|
Amount on Hand: |
$0.00
|
|
|
|
(As of Report Date) |
|
|
Economic Activity Taxes (EATs): |
|
|
|
|
Total received since inception: |
$11,331,571.00
|
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): |
$15,863,521.00
|
$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: |
$0.00
|
$0.00
|
|
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: |
$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: |
$8,130,000.00
|
|
|
Property Acquisition and Relocation Costs: |
$0.00
|
|
|
Project Implementation Costs: |
$200,000.00
|
|
|
Other: |
$0.00
|
|
|
Other: |
$0.00
|
|
|
Total Anticipated TIF Reimbursable Project Costs |
$8,330,000.00
|
|
|
|
|
|
|
ANTICIPATED TOTAL PROJECT COSTS: |
$236,100,100.00
|
|
|
|
|
|
|
TIF FINANCING METHOD: |
|
|
|
MATURITY OF TIF OBLIGATIONS: |
|
|
|
Original Estimate (# of Years to Retirement): |
23
|
|
|
Current Anticipated Estimate (# of Year to Retirement): |
0
|
|
|
|
|
|
|
ESTIMATED INCREASE IN TAX GENERATION: |
|
|
|
Original assessed value of the redevelopment project: |
$4,205,440.00
|
|
|
Assessed valuation added to the redevelopment project: |
$19,210,415.00
|
|
|
Anticipated Assessed Value at Time of District Termination: |
$76,950,400.00
|
|
|
Total Amount of Base Year EATs: |
$55,532.00
|
|
|
Total Amount of Base Year PILOTs: |
$355,569.00
|
|
|
Total Annual EATs Anticipated at Time of District Termination: |
$159,000.00
|
|
|
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
|
|