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Section 1: Description of the Plan and Project

Name of City and/or County:

Hannibal

Name of Plan or Project:

Riverbend TIF

Report Period:

7/1/2006 to 6/30/2007

Name of the Person Who Prepared this Annual Report:

Not stated

Contact Information:

City or County Contact Agency:

Lindsay Wiskirchen

Phone:

573-221-0111

Private Sector Developer:

THF Realty, Inc.

Person:

Michael H. Stoenberg

Phone:

Original Date Plan/Project Approved:

6/2/1998

Ordinance Number:

4063

Most Recent Plan Amendment:

9/19/2000

Ordinance Number:

4146

State House District:

State Senate District:

School District:

Location:

In the Huck Finn Shopping Center south of Rt. W (Palmyra Rd); west of US Hwy 61; east of Munger Ln; north of Stardust in northwestern Hannibal

Description of Plan/Project:

Extend Diamond Boulevard using city construction crews into the Huck Finn Shopping Center and related public infrastructure improvements.

Plan/Project Status:

Fully operational

Area Type:

Economic Development

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

Required significant public infrastructure investment to construct adequate 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:

$1,032,512.36

Amount on Hand:
(As of Report Date)

$0.00

Economic Activity Taxes (EATs):

Total Received since inception:

$1,448,887.57

Amount on Hand:
(As of Report Date)

$2,192.37

Total Revenue on hand in the Special Allocation Fund as of Report Date:

$2,192.37

EXPENDITURES FOR TOTAL PROJECT COSTS FUNDED BY TIF:

Total Since Inception:

Report Period Only:

Public Infrastructure (streets, utilities, etc):

$3,621,750.00

$0.00

Site Development (grading, dirt moving, etc):

$550,000.00

$0.00

Rehab of Existing Buildings:

$0.00

Acquisition of Land or Buildings:

$491,250.00

$0.00

Other:

$1,330,000.00

$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:

$3,745,000.00

Property Acquisition and Relocation Costs:

$225,000.00

Project Implementation Costs:

$15,000.00

Other:

$40,000.00

Other:

$925,000.00

Total Anticipated TIF Reimbursable Project Costs:

$4,950,000.00

ANTICIPATED TOTAL PROJECT COSTS:

$21,324,371.00

TIF FINANCING METHOD:

TIF Bond; 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:

$5,630.00

Assessed Valuation Added to the Redevelopment Project:

$3,788,490.00

Anticipated Assessed Value at Time of District Termination:

$3,320,500.00

Total Amount of Base Year EATs:

$0.00

Total Amount of Base Year PILOTs:

$0.00

Total Annual EATs Anticipated at Time of District Termination:

$15,792,000.00

Total Annual PILOTs Anticipated at Time of District Termination:

$4,450,300.00

Percentage of EATs Captured:

Total Years Anticipated to Capture EATs:

Percentage of PILOTs Captured:

Total Years Anticipated to Capture PILOTs:

The Office of Missouri State Auditor

Scott Fitzpatrick

Riverbend TIF

Section 1: Description of the Plan and Project

- None -

Section 2: Tax Increment Financing Revenues