Name of City and/or County:
Warrensburg
Name of Plan or Project:
Keystone & West View Pad Sites Tax Increment Finan
Report Period:
10/1/2020 to 9/1/2021
Name of the Person Who Prepared this Annual Report:
Marcella McCoy
City or County Contact Agency:
Private Sector Developer:
J.W. Franklin Co., and Keystone Hospitality, LLC
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
State House District:
054, 051
School District:
Warrensburg R-VI School District
403 E Russell Ave., located on the north side of Russell Ave., and two pad sites at West View, located on the south side of Russell Ave.
Description of Plan/Project:
The Redevelopment Plan proposes the development of an 83 room hotel, four restaurants or fast food businesses, a 10,000 sq. ft. office building and a 3,000 sq. ft. retail building totaling approximately 78,000 sq. ft. The Redevelopment Plan calls for the developer to prepare the pad sites for sale to other owners/developers for construction of the stated uses.
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 New Jobs:
189
Estimate of Retained Jobs:
189
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$464,999.48
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$51,156.21
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:
Since Inception:
$516,155.69
This Reporting Period:
$0.00
Reimbursement to city/county (or other public entity) for eligible costs:
Since Inception:
$15,818.72
This Reporting Period:
$4,606.54
ANTICIPATED TIF REIMBURSEMENT COSTS:
Public Infrasture and Site Development Costs:
$364,956.00
Property Acquisition and Relocation Costs:
$2,135,044.00
Project Implementation Costs:
$75,000.00
Total Anticipated TIF Reimbursable Project Costs:
$2,575,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$2,575,000.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
17
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$138,051.00
Assessed Valuation Added to the Redevelopment Project:
$2,015,081.00
Anticipated Assessed Value at Time of District Termination:
$6,144,000.00
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:
$10,976,410.00
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
