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Section 1: Description of the Plan and Project

Name of City and/or County:

St. Louis

Name of Plan or Project:

1136 Washington Avenue (A.D. Brown Bldg.) (352-58)

Report Period:

7/1/2014 to 6/1/2015

Name of the Person Who Prepared this Annual Report:

Dale E. RuthsatzLisa Harmon

Contact Information:

City or County Contact Agency:

St Louis Development Corporation

Phone:

314-657-3732

Private Sector Developer:

A.D. Brown Acquisition Corp., LLC

Person:

Jeff N Crossland

Phone:

310-477-5100

Original Date Plan/Project Approved:

12/1/2004

Ordinance Number:

66556

Most Recent Plan Amendment:

Ordinance Number:

State House District:

State Senate District:

School District:

City of St Louis

Location:

1136 Washington Ave. at southeast corner of Washington at Tucker Blvd. in downtown St. Louis

Description of Plan/Project:

Renovation of 9-story A. D. Brown Building for 89 condominiums with ground floor commercialand related parking.

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.

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:

$1,837,676.00

Amount on Hand:
(As of Report Date)

$70,938.00

Economic Activity Taxes (EATs):

Total Received since inception:

$232.00

Amount on Hand:
(As of Report Date)

$0.00

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

$70,938.00

EXPENDITURES FOR TOTAL PROJECT COSTS FUNDED BY TIF:

Total Since Inception:

Report Period Only:

Public Infrastructure (streets, utilities, etc):

$0.00

Site Development (grading, dirt moving, etc):

$0.00

Rehab of Existing Buildings:

$0.00

Acquisition of Land or Buildings:

$0.00

Other:

$3,525,000.00

$0.00

AMOUNT PAID ON DEBT SERVICES:

Payments of principal and interest on outstanding bonded debt:

Since Inception:

$1,795,137.00

This Reporting Period:

$215,148.00

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:

$92,684.00

This Reporting Period:

$13,020.00

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:

$3,650,000.00

ANTICIPATED TOTAL PROJECT COSTS:

$25,371,000.00

TIF FINANCING METHOD:

General Obligation Bonds

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:

$331,000.00

Assessed Valuation Added to the Redevelopment Project:

$2,685,370.00

Anticipated Assessed Value at Time of District Termination:

$7,957,400.00

Total Amount of Base Year EATs:

$46,879.54

Total Amount of Base Year PILOTs:

$24,066.00

Total Annual EATs Anticipated at Time of District Termination:

$165,277.00

Total Annual PILOTs Anticipated at Time of District Termination:

$554,493.00

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

1136 Washington Avenue (A.D. Brown Bldg.) (352-58)

Section 1: Description of the Plan and Project

- None -

Section 2: Tax Increment Financing Revenues