Name of City and/or County:
Rolla
Name of Plan or Project:
Westside Marketplace Redevelopment Project
Report Period:
Oct 1 2022 12:00AM to Sep 1 2023 12:00AM
Name of the Person Who Prepared this Annual Report:
Steffanie Rogers
City or County Contact Agency:
Private Sector Developer:
UTW Rolla Development, LLC
Original Date Plan/Project Approved:
Most Recent Plan Amendment:
School District:
Rolla 31 School District
The approximately 144 acres and is located on the west, northwest, and north sides of the intersection of Interstate 44 I-44 and Kingshighway. The Area is within the City of Rolla, Missouri, on its west side, with a small portion of the Area in unincorporated Phelps County
Description of Plan/Project:
The purpose of the Redevelopment Project is to reduce/eliminate blighted conditions on the subject property in order to facilitate economic development and revitalization of RPA 1. The Redevelopment Plan contains strategies and projections to construct a new retail center consisting of 339,000 SF of space for 5 retailers anchored by a Menards Store to retain and grow retail opportunities in the Rolla region
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:
250
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:
$1,192,864.00
Amount on Hand:
$283,745.00
Economic Activity Taxes (EATs):
Total Received since inception:
$2,367,392.00
Amount on Hand:
$89,761.00
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:
$5,086,566.00
This Reporting Period:
$1,619,687.00
Reimbursement of developer for eligible cost:
Since Inception:
$13,365,000.00
This Reporting Period:
$0.00
Reimbursement to city/county (or other public entity) for eligible costs:
Since Inception:
$75,000.00
This Reporting Period:
$0.00
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:
$0.00
ANTICIPATED TOTAL PROJECT COSTS:
$0.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
14
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$130,658.00
Assessed Valuation Added to the Redevelopment Project:
$254,430.00
Anticipated Assessed Value at Time of District Termination:
$13,438,628.00
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:
$1,655,700.00
Total Annual PILOTs Anticipated at Time of District Termination:
$0.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
14
Percentage of PILOTs Captured:
75%
Total Years Anticipated to Capture PILOTs:
14
