Name of City and/or County:
Cabool
Name of Plan or Project:
Cabool Tax Increment Financing Redevelopment
Report Period:
10/1/2008 to 9/30/2009
Name of the Person Who Prepared this Annual Report:
Kim Elliott
City or County Contact Agency:
Kim Elliott, City Clerk
Private Sector Developer:
Original Date Plan/Project Approved:
6/21/1993
Most Recent Plan Amendment:
School District:
Cabool R-4 School District
The Project Area is located in the central business district of the city of Cabool.
Description of Plan/Project:
The TIF Plan is instrumental in the creation of economic activity in the depressed central business district. The Plan provides incentives for the necessary improvement of public infrastructure to compliment development.
Plan/Project Status:
Fully Operational
How was the "but-for" Determination Made?:
Project required significant public infrastructure investment to remedy existing inadequate conditions and capacity to support development in the local area.
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:
111
Estimate of Retained Jobs:
25
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$0.00
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$114,689.52
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:
$72,448.45
This Reporting Period:
$55,739.85
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:
$0.00
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$0.00
Total Anticipated TIF Reimbursable Project Costs:
$0.00
ANTICIPATED TOTAL PROJECT COSTS:
$0.00
TIF FINANCING METHOD:
Pay-as-you-go
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
7
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$2,260,150.00
Assessed Valuation Added to the Redevelopment Project:
$0.00
Anticipated Assessed Value at Time of District Termination:
$2,735,000.00
Total Amount of Base Year EATs:
$215,000.00
Total Amount of Base Year PILOTs:
$0.00
Total Annual EATs Anticipated at Time of District Termination:
$300,000.00
Total Annual PILOTs Anticipated at Time of District Termination:
$0.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
7
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
7
