View Tif

Section 1: Description of the Plan and Project

Name of City and/or County:

Kirksville

Name of Plan or Project:

Kirksville Downtown Improvement TIF Plan

Report Period:

1/1/2013 to 12/1/2013

Name of the Person Who Prepared this Annual Report:

Lindsay Leckbee

Contact Information:

City or County Contact Agency:

City of Kirksville

Phone:

660-627-1224

Private Sector Developer:

Person:

Phone:

Original Date Plan/Project Approved:

12/1/1999

Ordinance Number:

11429

Most Recent Plan Amendment:

11/01/2000

Ordinance Number:

11475

State House District:

State Senate District:

School District:

Kirksville R-III

Location:

Location in the Central Business District. It is described as follows Illinois St. on the N. from Marion to the alley E. of Franklin Buchanan to First St. First St. to Washington Washington to Missouri St. Extended Missouri St. to City Limits City limits to Normal Normal to Truman Campus Franklin to Pierce Pierce to Marion Marion to Illinois.

Description of Plan/Project:

Plan is intended to fund the implementation of the KV Downtown Development Plan. Under this plan the area will be developed as one mixed use development Project. Project components include construction of new business buildings remodel of existing buildings faade improvements reno of streets, sidewals & other public areas. Downtown infrastructure will be improved

Plan/Project Status:

Fully-Operational

Area Type:

Blight

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

Project had unusual/extraordinary costs that made the project financially unfeasible in the market place. Project required significant public infrastructure investment to remedy existing inadequate conditions. Project required significant public infrastructure investment to construct adequate capacity to support the project.

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:

Name	Address	Phone Number	Rel. from What City/County
Aquadome	121 N. Main St.	314-779-6235	New Ownership
Discount Textbooks	101 E. Filmore	660-342-4386	NEW
Foundations Yoga Studio	111 N. main, Suite 203	660-626-3219	NEW
Heritage House Rentals, LLC	215 W. Jefferson	660-626-5488	NEW
J & J Electronic Repair dba Joshua Clark	515 S. Elson St., Apt 6	573-944-4208	NEW
Justin Tallman dba Copy Systems	309 S. Franklin	660-665-2294	New ownership & relocated to the TIF
Kirksville License Office	112 E. Washington	660-665-0292	NEW
Leprechann, LLC dba Downtown Cafe	112 N. Franklin	660-988-0780	NEW
Lone Star Physiques	111 N. Main, Suite B2	806-535-9683	NEW
Mona's Studio	307 N. Elson	660-216-1378	NEW
Morris Oil Company	505 W. Scott	660-665-6666	Address Change
Rentschler Redesign	107 S. Franklin	660-341-8740	NEW
Sean Tathum dba The Djinn	106 S. Elson	573-286-8202	NEW
Sunspot Nutrition & tanning	111 N. Main	660-665-0772	New ownership
Yoder Get it Done	216 W. Buchanan	660-342-9761	NEW
Yogo, LLC dba Truyo	116 S. Franklin	816-838-9353	NEW
Yours Truly, LLC	108 E. Washington	660-349-8118	NEW

Estimate of New Jobs:

Actual To Date:

Estimate of Retained Jobs:

100

Actual To Date:

100

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:

$2,174,958.00

Amount on Hand:
(As of Report Date)

$2,174,958.00

Economic Activity Taxes (EATs):

Total Received since inception:

$1,105,120.00

Amount on Hand:
(As of Report Date)

$0.00

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

$2,174,958.00

EXPENDITURES FOR TOTAL PROJECT COSTS FUNDED BY TIF:

Total Since Inception:

Report Period Only:

Public Infrastructure (streets, utilities, etc):

$3,078,196.00

$0.00

Site Development (grading, dirt moving, etc):

$0.00

Rehab of Existing Buildings:

$0.00

Acquisition of Land or Buildings:

$0.00

Other:

$3,918.00

$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:

$0.00

Property Acquisition and Relocation Costs:

$0.00

Project Implementation Costs:

$0.00

Other:

$0.00

Other:

$0.00

Total Anticipated TIF Reimbursable Project Costs:

$0.00

ANTICIPATED TOTAL PROJECT COSTS:

$15,052,479.00

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:

$6,950,220.00

Assessed Valuation Added to the Redevelopment Project:

$4,417,390.00

Anticipated Assessed Value at Time of District Termination:

$18,640,660.00

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:

$2,321,045.00

Total Annual PILOTs Anticipated at Time of District Termination:

$0.00

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

Kirksville Downtown Improvement TIF Plan

Section 1: Description of the Plan and Project

Section 2: Tax Increment Financing Revenues