Name of City and/or County:
Perryville
Name of Plan or Project:
Redevelopment Plan for downtown Perryville Tax
Report Period:
Oct 1 2022 12:00AM to Sep 1 2023 12:00AM
Name of the Person Who Prepared this Annual Report:
Leslie Seabaugh, SEMO Regional Planning Commission
City or County Contact Agency:
Private Sector Developer:
None
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
State House District:
116, 145
School District:
Perry County School District 32
Approximately 54 acres on and around the courthouse square in downtown Perryville
Description of Plan/Project:
The City will fund grants to various property owners for rehabilitation and stabilization of commercial buildings, fade improvements, signage, electrical, water and sewer improvements.
Plan/Project Status:
Fully-Operational
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 New Jobs:
100
Estimate of Retained Jobs:
50
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$36,399.00
Amount on Hand:
$7,831.00
Economic Activity Taxes (EATs):
Total Received since inception:
$434,802.00
Amount on Hand:
$93,541.00
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:
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:
$5,250,000.00
Property Acquisition and Relocation Costs:
$500,000.00
Project Implementation Costs:
$1,787,500.00
Total Anticipated TIF Reimbursable Project Costs:
$12,691,750.00
ANTICIPATED TOTAL PROJECT COSTS:
$3,300,000.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
11
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$2,250,017.00
Assessed Valuation Added to the Redevelopment Project:
$141,404.00
Anticipated Assessed Value at Time of District Termination:
$13,986,839.00
Total Amount of Base Year EATs:
$127,093.00
Total Amount of Base Year PILOTs:
$111,560.00
Total Annual EATs Anticipated at Time of District Termination:
$522,155.00
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
