Name of City and/or County:
Cape Girardeau
Name of Plan or Project:
Downtown Cape Girardeau TIF RPA 2
Report Period:
Jan 1 2022 12:00AM to Dec 1 2022 12:00AM
Name of the Person Who Prepared this Annual Report:
Lisa Mills
City or County Contact Agency:
Private Sector Developer:
City of Cape Girardeau
Person:
Attn Finance Director
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
School District:
Cape Girardeau School District
RPA 2 is within downtown Cape Girardeau, generally bounded by North Main Street, midblock between Lorimier and Spanish Streets, Morgan Street, Oak Street and Water Street.
Description of Plan/Project:
The Redevelopment Plan proposes redevelopment of RPA 2 for commercial and residential uses. The City will serve as master developer to coordinate public improvements and identify other developers to undertake private redevelopment activities.
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:
$0.00
Amount on Hand:
$0.00
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:
$6,935,000.00
Property Acquisition and Relocation Costs:
$400,000.00
Project Implementation Costs:
$798,000.00
Total Anticipated TIF Reimbursable Project Costs:
$13,343,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$55,343,000.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
23
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$5,054,540.00
Assessed Valuation Added to the Redevelopment Project:
$0.00
Anticipated Assessed Value at Time of District Termination:
$13,269,073.00
Total Amount of Base Year EATs:
$446,250.00
Total Amount of Base Year PILOTs:
$286,633.00
Total Annual EATs Anticipated at Time of District Termination:
$526,958.00
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
