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Section 1: Description of the Plan and Project

Name of City and/or County:

New Florence

Name of Plan or Project:

Boonslick Hwy Redevelopment Plan

Report Period:

1/1/2008 to 2/28/2009

Name of the Person Who Prepared this Annual Report:

Adell Jones

Contact Information:

City or County Contact Agency:

Adell Jones, City Clerk

Phone:

573-835-2106

Private Sector Developer:

McDonald's Corporation

Person:

Mike Powers, Developer

Phone:

314-537-0809

Original Date Plan/Project Approved:

11/7/1996

Ordinance Number:

L2-1996

Most Recent Plan Amendment:

2/2009

Ordinance Number:

B1-2009 & B4-2009

State House District:

State Senate District:

School District:

Montgomery Co R-2

Location:

Approximately 45 acres at I-70 and Mo-19 Hwy in New Florence

Description of Plan/Project:

Construction of a fast-food restaurant and C-store, with a motel, grocery store and department store as follow-on phases of the development.

Plan/Project Status:

District Dissolved

Area Type:

Blight & Economic Development

How was the "but-for" Determination Made?:

The project required significant public infrastructure investment to remedy existing inadequate conditions and capacity to support development.

Number of Relocated Residences During This Report Period:

Number of Relocated Businesses During This Report Period:

Number of Parcels Acquired Through Use of Eminent Domain Power During This Report Period:

Identify Any Businesses That Have Relocation to the Redevelopment Area During this Report Period:

- None -

Estimate of New Jobs:

Actual To Date:

Estimate of Retained Jobs:

Actual To Date:

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:

$284,726.21

Amount on Hand:
(As of Report Date)

$0.00

Economic Activity Taxes (EATs):

Total Received since inception:

$437,804.66

Amount on Hand:
(As of Report Date)

$0.00

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):

$322,084.20

$39,659.60

Site Development (grading, dirt moving, etc):

$13,758.60

$0.00

Rehab of Existing Buildings:

$0.00

Acquisition of Land or Buildings:

$0.00

Other:

$60,872.15

$378,153.74

AMOUNT PAID ON DEBT SERVICES:

Payments of principal and interest on outstanding bonded debt:

Since Inception:

$192,922.94

This Reporting Period:

$0.00

Reimbursement of developer for eligible cost:

Since Inception:

$335,842.80

This Reporting Period:

$39,659.60

Reimbursement to city/county (or other public entity) for eligible costs:

Since Inception:

$60,872.15

This Reporting Period:

$42,000.00

ANTICIPATED TIF REIMBURSEMENT COSTS:

Public Infrasture and Site Development Costs:

$621,273.00

Property Acquisition and Relocation Costs:

$300,000.00

Project Implementation Costs:

$253,727.00

Other:

$0.00

Other:

$0.00

Total Anticipated TIF Reimbursable Project Costs:

$1,175,000.00

ANTICIPATED TOTAL PROJECT COSTS:

$1,175,000.00

TIF FINANCING METHOD:

Pay-as-you-go, TIF Notes

MATURITY OF TIF OBLIGATIONS:

Original Estimate (# of Years to Retirement):

Current Anticipated Estimate (# of Year to Retirement):

ESTIMATED INCREASE IN TAX GENERATION:

Original Assessed Value of the Redevelopment Project:

$83,110.00

Assessed Valuation Added to the Redevelopment Project:

$574,310.00

Anticipated Assessed Value at Time of District Termination:

$574,310.00

Total Amount of Base Year EATs:

$0.00

Total Amount of Base Year PILOTs:

Total Annual EATs Anticipated at Time of District Termination:

Total Annual PILOTs Anticipated at Time of District Termination:

Percentage of EATs Captured:

50%

Total Years Anticipated to Capture EATs:

Percentage of PILOTs Captured:

100%

Total Years Anticipated to Capture PILOTs:

The Office of Missouri State Auditor

Scott Fitzpatrick

Boonslick Hwy Redevelopment Plan

Section 1: Description of the Plan and Project

- None -

Section 2: Tax Increment Financing Revenues