Name of City and/or County:
St. Louis
Name of Plan or Project:
Tech Electronics (352-17)
Report Period:
7/1/2017 to 6/1/2018
Name of the Person Who Prepared this Annual Report:
Dale Ruthsatz
City or County Contact Agency:
Private Sector Developer:
Tech Electronics Inc
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
6437 Manchester Ave., bounded on the west by Dale Ave.
Description of Plan/Project:
Project consists of constructing a 7,000 sq. ft. one story office building, capable of being expanded to three stories. Project will allow Tech Electronics continued growth of its facilities and operation. THe cmpany will expand its current operation of 160 employees and 25 million annual sales in St. Louis. New project will create approximately 45 permanent new full-time jobs with salaries ranging from 55,000 to 65,000 per year.
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 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:
$385,157.00
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$245,583.00
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:
Since Inception:
$579,740.00
This Reporting Period:
$69,797.00
Reimbursement of developer for eligible cost:
This Reporting Period:
$0.00
Reimbursement to city/county (or other public entity) for eligible costs:
Since Inception:
$54,000.00
This Reporting Period:
$3,600.00
ANTICIPATED TIF REIMBURSEMENT COSTS:
Public Infrasture and Site Development Costs:
$0.00
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$0.00
Total Anticipated TIF Reimbursable Project Costs:
$900,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$4,500,000.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
7
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$170,510.00
Assessed Valuation Added to the Redevelopment Project:
$374,690.00
Anticipated Assessed Value at Time of District Termination:
$526,920.00
Total Amount of Base Year EATs:
$222,425.26
Total Amount of Base Year PILOTs:
$12,439.00
Total Annual EATs Anticipated at Time of District Termination:
$215,471.00
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
