Name of City and/or County:
Springfield
Name of Plan or Project:
Brody Corners TIF
Report Period:
Jan 1 2022 12:00AM to Dec 1 2022 12:00AM
Name of the Person Who Prepared this Annual Report:
Matt Schaefer
City or County Contact Agency:
Private Sector Developer:
West Sunshine Development, LLC
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
School District:
Republic R-3
Approximately 28.65 acres generally located near the northwest corner of the intersection of West Sunshine Street and James River Freeway US 60/MO 360.
Description of Plan/Project:
The Redevelopment Plan proposes to redevelop the Area for retail, restaurant, office, and other commercial uses. TIF revenues will be used to fund approximately 3.44 Million of project costs within the Redevelopment Area, which include site excavation, extension of public utilities and sanitary sewer, and construction of stormwater facilities and public streets.
Plan/Project Status:
Starting-Up
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:
$2,992,677.00
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$450,000.00
Total Anticipated TIF Reimbursable Project Costs:
$3,442,677.00
ANTICIPATED TOTAL PROJECT COSTS:
$27,025,740.00
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:
$236,740.00
Assessed Valuation Added to the Redevelopment Project:
$0.00
Anticipated Assessed Value at Time of District Termination:
$7,174,575.00
Total Amount of Base Year EATs:
$0.00
Total Amount of Base Year PILOTs:
$12,863.27
Total Annual EATs Anticipated at Time of District Termination:
$181,291.00
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:
75%
Total Years Anticipated to Capture PILOTs:
23
