{ 1200 Main/South Loop TIF Plan 10 Year Progress Report October 14, 2015 Sandra Rayford, Contract Compliance Manager, EDC.

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Presentation transcript:

{ 1200 Main/South Loop TIF Plan 10 Year Progress Report October 14, 2015 Sandra Rayford, Contract Compliance Manager, EDC

State law provides that 5 years after the establishment of a redevelopment plan and every 5 years thereafter, the Council shall hold a public hearing regarding TIF redevelopment plans and projects for the purpose of determining if the plan/project is making satisfactory progress under the proposed time schedule in the plan.

 Developers: Kansas City LIVE, LLC; H & R Block Servicrs, Inc.; President Hotel, LC; Andrews McMeel Universal, Inc.; 112 Redevelopers, LLC; and the City of Kansas City, MO  Designated as a blighted area  Approved by City Council on March 4, 2004 by Ordinance No  Financing: Pay-As-You-Go and City Bonds  Final expiration of TIF: December 2031  Plan Objectives: The original plan objective was to acquire, develop, construct, rehabilitate and improve office space, parking garages, public improvements, streetscape, park development, residential development, retail development, as well as all necessary public infrastructure, appurtenances and utilities. Plan information

Number of Project Areas Per Plan 8 Total Project Budget $750,213,483 Total TIF Eligible Budget $589,466,144 Number of Jobs for all projects to date 2,175 EATs Received Since Inception $50,946,291 PILOTS Received Since Inception $16,272,785 Total Certified Costs to Date $137,821,349 Initial Assessed Value at time of Plan $33,773,369 Assessed Value as of this Report $40,910,812 The 1200 Main/South Loop TIF Plan Numbers

1200 Main TIF Site Plan

Projects 1 & 1A - Power & Light District

Power & Light District Living Room

Project 1D – Mainstreet Theatre formerly known as the Empire Theatre

Project 1H – Midland Theatre

Project 2 H & R Block Headquarters

Project 3 – President Hotel

Projects 13 & 14 – AMU Boley Building/Andrews McMeel