Name of City and/or County:
St. Louis County
Name of Plan or Project:
Affton Plaza Redevelopment Area
Report Period:
1/1/2017 to 12/1/2017
Name of the Person Who Prepared this Annual Report:
Greg Kremer
City or County Contact Agency:
Private Sector Developer:
Affton Plaza JV, LLC
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
Approximately 11.6 acres including right-of-ways generally bound by Weber Road to the north, Mackenzie road to the west and Gravois Road to the southeast.
Description of Plan/Project:
The renovation and rehabilitation of the existing Affton Plaza shopping center and the potential construction of new commercial buildings.
Plan/Project Status:
Under Construction
How was the "but-for" Determination Made?:
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 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:
$0.00
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$8,234.00
Amount on Hand:
$7,166.39
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:
Since Inception:
$76,066.00
This Reporting Period:
$76,066.00
Reimbursement of developer for eligible cost:
Since Inception:
$1,536,200.00
This Reporting Period:
$0.00
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:
$100,000.00
Property Acquisition and Relocation Costs:
$900,000.00
Project Implementation Costs:
$2,250,000.00
Total Anticipated TIF Reimbursable Project Costs:
$3,250,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$14,845,000.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
22
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$1,560,460.00
Assessed Valuation Added to the Redevelopment Project:
$1,717,540.00
Anticipated Assessed Value at Time of District Termination:
$3,278,000.00
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:
$195,099.00
Total Annual PILOTs Anticipated at Time of District Termination:
$0.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
23
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
23
