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HomeMy WebLinkAbout[06a] TIF Reports 2013 • CITY OF ST. J OSEPH wry.cityof stjoseph.com Date: May 21, 2014 Administrator Memo To: Members of the EDA Judy Weyrens City Administrator Weyrens Mayor Memo From: Cynthia Smith-Strack-MDG, Inc. Rick Schultz RE: Tax Increment Financing Reports to State Auditor's Office Councilors Steve Frank Bob Loso Background Renee Symanietz Attached please find the initial summary portion of reports on TIF District 2-1 (Millstream)and Dale Wick District 2-2 (St. Joe Meat Market). Complete reports are available in electronic form at your request. EDA Doug Danielson The TIF reports must be submitted to the Office of the State Auditor on an annual basis.The Steve Frank reports track the use of TIF locally and when combined across the State. There is a standard Larry Bosch technical form all municipalities must use to report on open districts.The forms are distributed Gary Osberg by the State Auditor's Office. Dale Wick Action Authorization to submit the required report to the OSA is kindly requested. THIS PAGE INTENTIONALLY LEFT BLANK '16711_2013 Dist(1)TIF 2-1 Millstream Shops and Lofts Saint Jose. - TIF 2-1 Millstream Pro ect - 2013 Annual Re. •rti . Form Home Overview District Info I Debt Interfund Loans PAYG Project Costs Transfers IZMI321 Balance Sheet Tax Increment Financing Annual Reporting Form for the Year Ended December 31,2013 iTIF District Name: TIF 2-1 Millstream Project Development Authority: Saint Joseph District Type: Redevelopment County Where TIF District is Located: Steams County Identification Number,if any. 131 Is the small city exception being used? Not Applicable Is this TIF district in a fiscal disparities area? No If yes,under what option? Not Applicable I Original TIF Plan information i I 9 TIF Plan Approval Date: 05/03/2007 10 Certification Request Date: 08/16/2007 11 Certification Date: w i 08/14/2008 District Duration 12 Month and year of first receipt of tax increment(actual or antic *Ied): 07/2009 E© Required Decertification Date: I 12/31/2034 J TIF Plan Estimates - Original Plan 05/03/2007 05/03/2007 ESTIMATED TAX INCREMENT REVENUES(from tax increment generated by the district) 14 Tax increment revenues distributed from the county $ 1,598,000 EQ Interest and investment earnings ry $ 0 16' Sales/lease proceeds $ 0 En Market value homestead credit $ 0 18 Total Estimated Tax Increment Revenues ESTIMATED PROJECT/FINANCING COSTS(to be paid or financed with tax increment) Project costs 19 Land/building acquisition $ 487,000 m Site improvements/preparation costs $ 0 El Utilities $ 15,000 22 Other qualifying improvements $ 0 El Construction of affordable housing -� $ 0 En Small city authorized costs,if not already Included above ., $ 0 25. Administrative costs EIIIIIIrr 26 Estimated Tax Increment Project Costs , Estimated financing costs 27i Interest expense -,.. I$ 950,000 281 Total Estimated Project/Financing Coats to be Paid From Tax Increment IIIII 05/03/2007 ESTIMATED FINANCING 129J Total amount of bonds to be issued w f$- 467,000 Overview Page 1 of 18 I 188049_2013_Dist IF 2-2 St.Joe Meat Market Saint Jose•h - TIF 2-2 St.Jose'h Meat Market - 2013 Annual Re••din! Form Home Overview District Info Debt Interfund Loans PAYG Pr•'-ctCosts Transfers MEM Balance Sheet Tax Increment Financing Annual Reporting Form for the Year Ended December 31,2013 TIF District Name: TIF 2-2 St.Joseph Meat Market © Development Authority: Saint Joseph 3 District Type: Economic Development 0 County Where TIF District is Located: Steams © County Identification Number,if any 0149 6 Is the small city exception being used? No El is this TIF district in a fiscal disparities area? No 8 If yes,under what option? Not Applicable Original TIF Plan Information 9 TIE Plan Approval Date: 1 04/21/2011 10 Certification Request Date: 04/212011 11' Certification Date: 03/272012 District Duration 112 Month and year of first receipt of tax increment(actual or anticipated): 07/2013 iT3-1 Required Decertification Date: 12/312021 TIF Plan Estimates - Original Plan 04/21/2011 • 04/21/2011 ESTIMATED TAX INCREMENT REVENUES(from tax increment generated by the district) go Tax increment revenues distributed from the county w ® Interest and investment earnings .. , 16 Sales/lease proceeds $ 0 ID Market value homestead credit $ 0 18; Total Estimated Tax Increment Revenues T. ESTIMATED PROJECT/FINANCING COSTS(to be paid or financed with tax increment) Project costs 19 Land/building acquisition $ 0 20j Site Improvements/preparation costs $ 50,000 21; Utilities $ 0 22 Other qualifying improvements $ 11,000 23, Construction of affordable housing $ 0 24 Small city authorized costs,if not already included above $ 0 25 Administrative costs $ 8,589 26{ Estimated Tax increment Project Costs $ 0909 Estimated financing costs 271 Interest expense r$ 17,000 128; Total Estimated ProjecflFlnarcing Costs to be Paid From Tax Increment } $ 88 589 04/21/2011 ESTIMATED FINANCING 29 Total amount of bonds to be issued I$ 100,000 1 Overview Page 1 of 18