Name of City and/or County:
St. Joseph
Name of Plan or Project:
EBR Enterprises, LLC/HHS Properties Inc.
Report Period:
2011-07-01 00:00:00 to 2012-06-30 00:00:00
Name of the Person Who Prepared this Annual Report:
Rich Karleskint & Judy Hovey
City or County Contact Agency:
Carolyn Harrison & Clint Thompson, Planning/CD Dir
Private Sector Developer:
EBR Enterprises, LLC & HHS Properties, Inc.
Person:
Bill Rippe & John Wilson
Original Date Plan/Project Approved:
2006-01-03 00:00:00
Most Recent Plan Amendment:
3/26/2007
School District:
St. Joseph School District #294
13.2ac located at the intersection of Blackwell Road and the Belt Highway in St. Joseph.
Description of Plan/Project:
Construction of public infrastructure improvements to Blackwell Road and Belt Highway and other public infrastructure work to facilitate private development of retail and office space in the immediate area.
Plan/Project Status:
Fully operational
How was the "but-for" Determination Made?:
Unusual/extraordinary costs made project financially unfeasible in the market, required significant public infrastructure investment to remedy existing inadequate conditions and capacity to support development and required parcel ass'y and/or relo costs.
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:
203
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:
$645,173.12
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$756,490.06
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:
$813,337.27
This Reporting Period:
$200,462.91
Reimbursement to city/county (or other public entity) for eligible costs:
Since Inception:
$599,144.18
This Reporting Period:
$61,959.68
ANTICIPATED TIF REIMBURSEMENT COSTS:
Public Infrasture and Site Development Costs:
$3,656,539.00
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$265,954.00
Total Anticipated TIF Reimbursable Project Costs:
$5,529,620.00
ANTICIPATED TOTAL PROJECT COSTS:
$31,633,074.00
TIF FINANCING METHOD:
Pay-as-you-go
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:
$130,310.00
Assessed Valuation Added to the Redevelopment Project:
$1,966,580.00
Anticipated Assessed Value at Time of District Termination:
$6,214,456.49
Total Amount of Base Year EATs:
$0.00
Total Amount of Base Year PILOTs:
$8,943.83
Total Annual EATs Anticipated at Time of District Termination:
$429,237.39
Total Annual PILOTs Anticipated at Time of District Termination:
$364,146.62
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
23
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
23
