Main Center Redevelopment Corporation Board

MAIN CENTER REDEVELOPMENT CORPORATION MEETING Wednesday, April 13, 2022 1:30 p.m. Administration Training Room (Room 210) Blue Springs City Hall 903 W. Main Street Blue Springs, Missouri 1. Call meeting to order 2. Roll Call/Confirmation of Quorum 3. Approval of April 11, 2019 and October 22, 2019 Main Center Redevelopment Corporation Meeting Minutes 4. Presentation – Loving Cup, LLC / Scooter’s Coffee Office Space – 210 NW 11th Street 5. Consideration of tax abatement for Loving Cup, LLC / Scooter’s Coffee Office Space – 210 NW 11th Street 6. Presentation – The Dwellings apartments – 110 and 106 9th Street 7. Consideration of tax abatement for The Dwellings apartments – 110 and 106 9th Street 8. Adjourn Agenda was posted at City Hall and on the City’s website on April 12, 2022 Sheryl Morgan, City Clerk TO: Main Center Redevelopment Corporation members and Press FROM: Christine Cates Acting City Administrator DATE: April 12, 2022 SUBJECT: Agenda Explanations Items 4 & 5 - Loving Cup, LLC / Scooter’s Coffee Office Space Jacob Burnett, Director of Business Development of Loving Cup, LLC will review the proposed improvements to 210 NW 11th Street to house Loving Cup’s corporate offices, including the type of interior and exterior improvements in the project’s $660,000 budget. Acting City Administrator Christine Cates will share details of the tax abatement application and the Tax Impact Analysis for Level B (10 year 100% abatement +15 years 50% abatement), as well as the application’s conformity with the adopted MCRC 353 Tax Abatement Policy. At the conclusion of the presentations, a motion will be in order to approve the Level B (10 year 100% +15 year 50%) abatement for Loving Cup, LLC at 210 NW 11th Street. Item 6 & 7 - The Dwellings/John Broker John Broker, Dwellings by Design will review the proposed project at 110 and 106 9th Street for five 8-plex apartment buildings with dedicated parking with a budget of $4,355,000. Acting City Administrator Christine Cates will share details of the tax abatement application and the Tax Impact Analysis for Level A (2) (10 year 100% abatement +15 years 75% abatement), as well as the application’s conformity with the adopted MCRC 353 Tax Abatement Policy. At the conclusion of the presentations, a motion will be in order to approve the Level A (2) (10 year 100% +15 year 75%) abatement for The Dwellings at 110 and 106 9th Street.  MCRC BOARD OF DIRECTORS MEETING MINUTES OF MEETING April 11, 2019 A meeting of the Main Center Redevelopment Corporation Board of Directors was held on Wednesday, April 11, 2019 at 9:00 a.m. at Pizza Shoppe with Gailen Snyder presiding. BOARD MEMBERS IN Ken Billups, Jr. Cindy Miller ATTENDANCE Jen Hauschild Gailen Snyder Vickie Jacks Also present were Megan Miller, Attorney – Gilmore & Bell; Economic Development Coordinator Teresa Evans; Applicants John Broker – Dwellings by Design and Mike Yancik – Elevate Design & Build, and Kent Edmondson, Council Liaison. CALL MEETING TO Chairman Gailen Snyder called the meeting to order at 9:00 a.m. ORDER APPROVE PREVIOUS Ken Billups, Jr. moved to approve the Minutes of the February 26, 2019 MINUTES meeting. Motion seconded by Cindy Miller and carried unanimously. PRESENTATION – Economic Development Coordinator, Teresa Evans made a presentation JONES PLACE on the tax abatement application from Dwellings By Design KC, LLC for Jones Place, 106 & 108 SW 8th, Blue Springs, Missouri. Ms. Evans discussed the type of interior and exterior improvements included in the new construction project’s $1,528,000 budget and the application’s conformity with the adopted Policy. APPROVAL OF Cindy Miller moved to recommend the approval of the Jones Place JONES PLACE MCRC Tax Abatement application, providing tax abatement corresponding to the investment threshold at 25% for Central Jackson County Fire Protection District for 10 years, and 100% for years one through five for Blue Springs School District (BSSD) and all remaining taxing entities, and 50% for years six through ten for BSSD and all remaining taxing entities; and authorizing President of Main Center Redevelopment Corporation to execute the Abatement Agreement at the appropriate time. The motion was seconded by Ken Billups, Jr. and carried with the following vote: Ken Billups, Jr. – AYE Cindy Miller – AYE Jen Hauschild – AYE Gailen Snyder – AYE Vickie Jacks - AYE OTHER BUSINESS No other business noted. 1 ADJOURNMENT At 9:26 a.m. there was no further business to come before the Board; Vickie Jacks moved the meeting be adjourned. Motion seconded by Cindy Miller and carried unanimously. ATTEST: ___________________________________ Gailen Snyder, Chairman ______________________________ Sheryl Morgan, City Clerk 2  MCRC BOARD OF DIRECTORS MEETING MINUTES OF MEETING October 22, 2019 A meeting of the Main Center Redevelopment Corporation Board of Directors was held on Tuesday, October 22, 2019 at 9:00 a.m. at Pizza Shoppe with Chairman Snyder presiding. BOARD MEMBERS IN Ken Billups, Jr. – Arrived 9:03 a.m. Cindy Miller ATTENDANCE Jen Hauschild Gailen Snyder Vickie Jacks – Absent Also in attendance were Acting Community Development Director Mike Mallon and Jaime Russell, owner of Anthem Photography. CALL TO ORDER AND Chairman Snyder called the meeting to order at 9:00 a.m. and confirmed CONFIRMATION OF a quorum of the Board was present. QUORUM CONSIDERATION OF Acting Community Development Director Mike Mallon presented the APPLICATION FROM information on the tax abatement application from Anthem Photography ANTHEM in order to redevelop/remodel 209 NW 11th Street into a photography PHOTOGRAPHY studio and responded to questions from the Board. APPROVAL OF Board Member Cindy Miller moved to recommend approval of the tax ANTHEM abatement application from Anthem Photography in order to PHOTOGRAPHY TAX redevelop/remodel 209 NW 11th Street into a photography studio; provide ABATEMENT tax abatement corresponding to the investment threshold at 25% for APPLICATION CJCFD for 10 years, and 100% for all remaining taxing entities for 10 years; and authorize Chair to execute the Abatement Agreement at the appropriate time. Motion seconded by Board Member Jen Hauschild and carried with the following votes: Cindy Miller – AYE Vickie Jacks – ABSENT Ken Billups, Jr. – AYE Gailen Snyder – AYE Jen Hauschild – AYE OTHER BUSINESS Acting Director of Community Development Mike Mallon gave a verbal update of Unified Development Code Text Amendments that were approved at the City Council Meeting on October 21, 2019. ADJOURNMENT At 9:22 a.m. there was no further business to come before the Board, Board Member Cindy Miller moved the meeting be adjourned. Motion seconded by Board Member Jen Hauschild and carried unanimously. ATTEST: ___________________________________ Gailen Snyder, Chairman ______________________________________ Mike Mallon Acting Director of Community Development 660,000 JB  MAIN CENTER REDEVELOPMENT CORPORATION Schedule 1 - Redevelopment Project Costs Loving Cup, LLC 210 NW 11th Street BUDGET ACTUAL PROJECT COSTS Request 1 Request 2 Total Costs Reimbursable Total Dollar Project Costs Owner or Other Total Percent of Total Project Costs Amount of Financing Submitted Questioned Verified Submitted Questioned Verified Reimbursable Budget Budget Reimbursable Costs Verified Costs Verified EXTERIOR IMPROVEMENTS Demolition $ 7,500 $ - - Excavating & Grading $ 53,000 $ - - Parking Lots & Drives $ 5,000 $ - - Utilities By Owner $ - - Landscaping $ 8,000 $ - - Exterior Construction $ 175,300 $ - - Exterior Lighting $ 3,000 $ - - Windows & Exterior Doors $ 7,500 $ - - Façade & Signage $ 5,000 $ - - Roofing & Guttering $ 6,400 $ - - Contingency $ - - Total Exterior Improvements $ 270,700 $ - $ - $ - $ - $ - $ - $ - $ - $ - - INTERIOR IMPROVEMENTS Demolition $ 7,500 $ - - Interior Construction $ 109,300 $ - - Electrical $ 60,000 $ - - Plumbing $ 30,000 $ - - HVAC $ 58,000 $ - - Finish Work (Paint, Tile, Carpet) $ 33,600 $ - - Contingency $ - - Total Interior Improvements $ 298,400 $ - $ - $ - $ - $ - $ - $ - $ - $ - - Soft Costs GC Fees $ 70,000 Application Fees & Permits TBD $ - - Design & Engineering $ 14,250 Surveys $ 4,400 $ - - Phase 1 $ 2,000 Legal Fees TBD $ - - Contingency $ - - Total Soft Costs $ 90,650 $ - $ - $ - $ - $ - $ - $ - $ - $ - - Total of Developed Project $ 659,750 $ - $ - $ - $ - $ - $ - $ - $ - $ - -  CHAPTER 353 REDEVELOPMENT CORPORATION TAX IMPACT ANALYSIS Main Center Redevelopment Corporation Loving Cup, LLC dba Scooters Coffee Office Space SECTION A. ASSUMPTIONS SECTION 1 PROPERTIES APPRAISED ASSESSED ADDRESS PARCEL CLASS VALUE VALUE 201 NW 11th Street 35-710-19-40-01-0-00-000 $ 456,000 32% $ 145,920 SECTION 2 2021 TAX LEVIES Per $100 AV TAX CODE AREA 042 Blue Springs School District $ 5.7286 $ 5.7286 CJC Fire Protection District $ 1.3440 $ 0.3360 City of Blue Springs $ 0.6366 $ 0.6366 Handicap Workshop $ 0.0663 $ 0.0663 Jackson County $ 0.5824 $ 0.5824 Mental Health $ 0.1077 $ 0.1077 Metropolitan Community College $ 0.2028 $ 0.2028 Midcontinent Public Library $ 0.3468 $ 0.3468 State Blind Pension Fund $ 0.0300 $ 0.0300 Replacement Tax $ 1.4370 $ 1.4370 Total $ 10.4822 $ 9.4742 SECTION 3 2021 LAND ASSESSED VALUE TOTAL IMPROVEMENT LAND ASSESSED ADDRESS ASSESSED ASSESSED VALUE VALUE VALUE 201 NW 11th Street $ 145,920 $ 25,834 $ 120,086 SECTION 4 INFLATION RATE PER YEAR 2% SECTION 5 ABATEMENT TERM 25 Years SECTION 6 PROPOSED IMPROVEMENTS $ 659,750 ESTIMATED APPRAISED ESTIMATED ESTIMATED TOTAL ESTIMATED VALUE LAND IMPROVEMENT ADDRESS IMPROVEMENT NEW ASSESSED (Based on 75% of Total ASSESSED ASSESSED COST VALUE Improvement Cost + VALUE VALUE Current MV ) 201 NW 11th Street $ 659,750 $ 950,813 $ 304,260 $ 25,834 $ 278,426 SECTION B. ESTIMATED TAXES WITHOUT THE IMPROVEMENT PROJECT ESTIMATED ESTIMATED YEAR APPRAISED TAX VALUE 1 $ 456,000.00 $ 15,295.63 2 $ 465,120.00 $ 15,601.54 3 $ 465,120.00 $ 15,601.54 4 $ 474,422.40 $ 15,913.57 5 $ 474,422.40 $ 15,913.57 6 $ 483,910.85 $ 16,231.84 7 $ 483,910.85 $ 16,231.84 8 $ 493,589.06 $ 16,556.48 9 $ 493,589.06 $ 16,556.48 10 $ 503,460.85 $ 16,887.61 11 $ 503,460.85 $ 16,887.61 12 $ 513,530.06 $ 17,225.36 13 $ 513,530.06 $ 17,225.36 14 $ 523,800.66 $ 17,569.87 15 $ 523,800.66 $ 17,569.87 16 $ 534,276.68 $ 17,921.26 17 $ 534,276.68 $ 17,921.26 18 $ 544,962.21 $ 18,279.69 19 $ 544,962.21 $ 18,279.69 20 $ 555,861.46 $ 18,645.28 21 $ 555,861.46 $ 18,645.28 22 $ 566,978.68 $ 19,018.19 23 $ 566,978.68 $ 19,018.19 24 $ 578,318.26 $ 19,398.55 25 $ 578,318.26 $ 19,398.55 TOTALS $ 433,794.10 SECTION C. ESTIMATED TAXES WITH IMPROVEMENT PROJECT WITHOUT ABATEMENT ESTIMATED ESTIMATED YEAR APPRAISED TAX VALUE 1 $ 950,812.50 $ 31,893.14 2 $ 969,828.75 $ 32,531.00 3 $ 969,828.75 $ 32,531.00 4 $ 989,225.33 $ 33,181.62 5 $ 989,225.33 $ 33,181.62 6 $ 1,009,009.83 $ 33,845.26 7 $ 1,009,009.83 $ 33,845.26 8 $ 1,029,190.03 $ 34,522.16 9 $ 1,029,190.03 $ 34,522.16 10 $ 1,049,773.83 $ 35,212.61 11 $ 1,049,773.83 $ 35,212.61 12 $ 1,070,769.31 $ 35,916.86 13 $ 1,070,769.31 $ 35,916.86 14 $ 1,092,184.69 $ 36,635.19 15 $ 1,092,184.69 $ 36,635.19 16 $ 1,114,028.39 $ 37,367.90 17 $ 1,114,028.39 $ 37,367.90 18 $ 1,136,308.95 $ 38,115.26 19 $ 1,136,308.95 $ 38,115.26 20 $ 1,159,035.13 $ 38,877.56 21 $ 1,159,035.13 $ 38,877.56 22 $ 1,182,215.83 $ 39,655.11 23 $ 1,182,215.83 $ 39,655.11 24 $ 1,205,860.15 $ 40,448.22 25 $ 1,205,860.15 $ 40,448.22 TOTALS $ 904,510.65 SECTION D. ESTIMATED ABATED TAXES WITH IMPROVEMENT PROJECT ESTIMATED CUMULATIVE YEAR ABATEMENT ABATEMENT 1 $ 26,118.27 $ 26,118.27 2 $ 26,694.80 $ 52,813.07 3 $ 26,694.80 $ 79,507.86 4 $ 27,282.85 $ 106,790.71 5 $ 27,282.85 $ 134,073.56 6 $ 27,882.67 $ 161,956.23 7 $ 27,882.67 $ 189,838.89 8 $ 28,494.48 $ 218,333.37 9 $ 28,494.48 $ 246,827.85 10 $ 29,118.53 $ 275,946.37 11 $ 13,205.30 $ 289,151.67 12 $ 13,523.56 $ 302,675.23 13 $ 13,523.56 $ 316,198.80 14 $ 13,848.19 $ 330,046.99 15 $ 13,848.19 $ 343,895.18 16 $ 14,179.31 $ 358,074.49 17 $ 14,179.31 $ 372,253.81 18 $ 14,517.06 $ 386,770.87 19 $ 14,517.06 $ 401,287.93 20 $ 14,861.56 $ 416,149.49 21 $ 14,861.56 $ 431,011.05 22 $ 15,212.95 $ 446,224.00 23 $ 15,212.95 $ 461,436.95 24 $ 15,571.37 $ 477,008.31 25 $ 15,571.37 $ 492,579.68 TOTALS $ 492,579.68  OFFICE USE ONLY – Updated Jan. 29, 2021 CASE # ACCT # CK # RECEIVAL DATE: DRB MEETING: HPC MEETING: MCRC MEETING: DOWNTOWN APPLICATION CDBG MEETING: 903 W Main Street, Blue Springs, MO | 816.228.0207 | PLANNER: DevelopmentSubmittals@bluespringsgov.com PROJECT LOCATION INFORMATION The Dwellings Project Name 36-920-10-10-01-0-00-000,36-920-10-05-00-0-00-000 Project Address (Parcel ID if No Address Assigned or Multiple Addresses) Legal Description (attach as a separate page if too large) APPLICATION (check all that apply) REVIEW BOARDS FINANCIAL ASSISTANCE ❑ ✔ DOWNTOWN REVIEW BOARD ❑ ✔ MCRC TAX ABATEMENT ❑ HISTORIC PRESERVATION COMMISSION ✔ ❑ FAÇADE IMPROVEMENT GRANT (MUST COMPLETE SEPARATE APPLICATION) APPLICANT INFORMATION John Broker Dwellings By Design Name of Applicant Company 1002 w main st Blue Springs Mo ^4015 Address City State Zip Code Jbroker23@gmail.com 8169185359 Email Phone Fax I agree to allow the City of Blue Springs to copy and distribute all project plans, materials, and information and post on the official City of Blue Springs web site as necessary for the project approval process, including public hearings. Additionally, I agree to pay the City of Blue Springs in full all applicable fees and costs required for the project approval process, including all public notifications. 3/23/2022 Applicant Signature Date PROPERTY OWNER INFORMATION Same Name of Property Owner Company Phone Email Address Address City State Zip Code I declare, under penalty of perjury, that in applying for this application, I am the owner of this property and that the statements herein and all information herewith submitted are, to the best of my knowledge and belief, true and correct. In the event of corporate ownership, a list of all Directors, Officers, Stockholders of each Corporation owning more than five percent (5%) of any class of stock must be attached. With the signing and submittal of this application, I authorize the City of Blue Springs to enter onto the subject property to collect data and other information in order to accurately prepare reports or other documentation for review by City Council, Boards & Commissions, and City Staff. Additionally, as the legal owner of the above property, I hereby grant authorization to complete the improvements indicated on this application. 3/23/2022 Property Owner Signature Date  REQUIRED DOCUMENTS CHECKLIST FOR ALL APPLICATIONS REQUIREMENT DESCRIPTION NUMBER ❑ Project Information st Complete on 1 page of this Application ❑ Project Description Provide narrative describing the project in space provided below. If necessary, attach additional pages ❑ Contact Information Sheet Complete the contact information on Page 3 ❑ Additional Application Requirements Complete all applicable information listed on pages 4- 6 of this application ❑ Other Required Information See UDC Chapter 402 – Review & Decision-Making Bodies & UDC Chapter 408 – Supplemental Standards for all other required information. PROJECT DESCRIPTION: The scope of this project is to revive the corner of 9th and main. We are proposing the removal of an detorating bank drivethru building along with the asphalt parking lot. We will also be demoing the house at the corner of 9 and jones also vacant and in disrepair. In its place we will build 5 8plex apartment style buildings with dedicated parking. With these buildings there will be additional green space and colorful landscaping. Page 2 of 5  CONTACT INFORMATION FORM Name of Project Lead Company Phone Email Address John Broker Dwellings by Design 8169185359 jbroker23@Gmail.com Address City State Zip Code 1002 W Main St Blue Springs Mo 64015 Name of Developer Company Phone Email Address Same Address City State Zip Code Name of Engineer Company Phone Email Address Erwin Gard Gard-Horizon (816) 295-5951 erwin@gardhorizon.com Address City State Zip Code 1040 sw luttrel Blue Springs Mo 64014 Name of Architect Company Phone Email Address Address City State Zip Code Name of Surveyor Company Phone Email Address Erwin-Gard Address City State Zip Code Name of Landscape Architect Company Phone Email Address TBD Address City State Zip Code Name of Attorney Company Phone Email Address Thomas Busch Busch Law 9134518383 tsbusch@buschlawkc.com Address City State Zip Code 8717 w 110th Overland Park Ks 66210 Name of Other Company Phone Email Address Address City State Zip Code Name of Other Company Phone Email Address Address City State Zip Code Page 3 of 5  ADDITIONAL APPLICATION REQUIREMENTS FOR DOWNTOWN REVIEW BOARD & HISTORIC PRESERVATION COMMISSION TYPE OF DEVELOPMENT REQUIREMENT FORMAT Only complete applicable sections ❑ New Building • A PDF set of scaled drawings showing the proposed site plan, PDF building elevations, and landscape plan (if applicable). o Site Plan must show setbacks from right-of-way, property lines, and any other buildings on site. o Building elevations must label building materials and colors. • A Site Plan Design Review application may also be required. ❑ Building Addition • A PDF of scaled drawings showing the proposed site plan, PDF building elevations, and landscape plan (if applicable). o Site Plan must show setbacks from right-of-way, property lines, and any other buildings on site. o Building elevations must label building materials and colors. • A Site Plan Design Review application may also be required. ❑ Building Façade • A PDF set of scaled drawings showing the proposed building PDF Alterations elevation changes. (includes signage) o Building elevations must label building materials and colors. • A PDF set of photographs and/or renderings showing the proposed changes (Before & After). • A Site Plan / Design Review application may also be required. ❑ New Accessory Structure • A PDF plot plan showing the proposed accessory structure. PDF o Plot Plan must show location of accessory structure and applicable setbacks. o Note the dimensions, square footage, height, and material of accessory structure. • A Building Permit may also be required. Page 4 of 5  ADDITIONAL APPLICATION REQUIREMENTS FOR MCRC TAX ABATEMENT PROGRAM PROJECT 110 and 106 9th st Address of Property to be Improved: ______________________________________ INFORMATION Does this applicant own the project building? ✔ YES NO Has this property received MCRC abatement before? YES ✔ NO Are you applying for any other abatement programs for this project? YES ✔ NO Amount of property taxes paid last year: $__________________________ BUILDING What is (are) the existing use (uses) of the building? OCCUPANCY Existing Business Name Business License Number Vacant Does the proposal result in a change in use of the building? If so, please explain: ✔ YES NO PROJECT The project will involve the buildings: Interior Exterior Both DETAILS 4.355 Million Estimated Investment: $___________________________ Program Level Requested: Level A(1) Level A(2) Level B Level C ESTIMATED 5-1-2022 12-1-2023 Start Date: ______________ Completion Date: ______________ TIMELINE The information submitted herein is true and accurate to the best of my (our) knowledge. Also, I (we) have read and understand the conditions of the MCRC Tax Abatement Policy and agree to abide by its conditions and guidelines. X Applicant(s) Signature Date MCRC TAX ABATEMENT PROGRAM LEVELS PURPOSE INVESTMENT THRESHOLD INCENTIVE AMOUNT APPLICATION FEE LEVEL A To attract $1,000,000 minimum – Requires 10 years 100% abatement + 15 $750 (1) “But for” economic analysis, paid by years at 100% abatement the applicant LEVEL A To attract $750,000 Minimum 10 years 100% abatement + 15 $750 (2) years at 75% abatement LEVEL B To attract mid-market $100,000 - $749,000 10 years 100% abatement + 15 $750 investments (market years at 50% abatement stimulating) LEVEL C To attract market $5,000 - $99,000 Equal to cost of improvements $250 stabilizing investments or 100% abatement for 10 (market stabilization) years, whichever occurs first Page 5 of 5  MAIN CENTER REDEVELOPMENT CORPORATION Schedule 1 - Redevelopment Project Costs The Dwellings/John Broker 110 and 106 9th St BUDGET ACTUAL PROJECT COSTS Request 1 Request 2 Total Costs Project Costs Reimbursable Total Dollar Owner or Other Total Percent of Total Project Costs Amount of Financing Submitted Questioned Verified Submitted Questioned Verified Reimbursable Budget Budget Reimbursable Costs Verified Costs Verified EXTERIOR IMPROVEMENTS Demolition $ 50,000 $ - - Excavating & Grading $ 50,000 $ - - Parking Lots & Drives $ 75,000 $ - - Utilities $ 50,000 $ - - Landscaping $ 50,000 $ - - Exterior Construction $ 1,000,000 $ - - Exterior Lighting $ 15,000 $ - - Windows & Exterior Doors $ 100,000 $ - - Façade & Signage $ 5,000 $ - - Roofing & Guttering $ 150,000 $ - - Contingency $ 20,000 $ - - Total Exterior Improvements $ 1,565,000 $ - $ - $ - $ - $ - $ - $ - $ - $ - - INTERIOR IMPROVEMENTS Demolition $ - - Interior Construction $ 1,000,000 $ - - Electrical $ 200,000 $ - - Plumbing $ 300,000 $ - - HVAC $ 250,000 $ - - Finish Work (Paint, Tile, Carpet) $ 800,000 $ - - Contingency $ 20,000 $ - - Total Interior Improvements $ 2,570,000 $ - $ - $ - $ - $ - $ - $ - $ - $ - - Soft Costs Application Fees & Permits $ 100,000 $ - - Design & Engineering $ 50,000 Surveys $ 10,000 $ - - Legal Fees $ 10,000 $ - - Contingency $ 50,000 $ - - Total Soft Costs $ 220,000 $ - $ - $ - $ - $ - $ - $ - $ - $ - - Total of Developed Project $ 4,355,000 $ - $ - $ - $ - $ - $ - $ - $ - $ - -  CHAPTER 353 REDEVELOPMENT CORPORATION TAX IMPACT ANALYSIS Main Center Redevelopment Corporation The Dwellings Apartment Complex - John Broker SECTION A. ASSUMPTIONS SECTION 1 PROPERTIES APPRAISED ASSESSED ADDRESS PARCEL CLASS VALUE VALUE 106 NW 9th Street 36-920-10-10-01-0-00-000 $ 187,000 32% $ 59,840 110 SW 9th Street 36-920-10-05-00-0-00-000 $ 104,000 19% $ 19,760 $ 291,000 $ 79,600 SECTION 2 2021 TAX LEVIES Per $100 AV TAX CODE AREA 042 A B POLICY PROPOSED Blue Springs School District $ 5.7286 $ 5.7286 $ 5.7286 CJC Fire Protection District $ 1.3440 $ 0.3360 $ 1.3440 City of Blue Springs $ 0.6366 $ 0.6366 $ 0.6366 Handicap Workshop $ 0.0663 $ 0.0663 $ 0.0663 Jackson County $ 0.5824 $ 0.5824 $ 0.5824 Mental Health $ 0.1077 $ 0.1077 $ 0.1077 Metropolitan Community College $ 0.2028 $ 0.2028 $ 0.2028 Midcontinent Public Library $ 0.3468 $ 0.3468 $ 0.3468 State Blind Pension Fund $ 0.0300 $ 0.0300 $ 0.0300 Replacement Tax $ 1.4370 NA NA Total $ 10.4822 $ 8.0372 $ 9.0452 SECTION 3 2021 LAND ASSESSED VALUE TOTAL IMPROVEMENT LAND ASSESSED SQUARE ADDRESS ASSESSED ASSESSED ACRES VALUE FOOTAGE VALUE VALUE 106 NW 9th Street $ 59,840 $ 41,184 $ 18,656 33,131.90 0.7606 110 SW 9th Street $ 19,760 $ 5,149 $ 14,611 16,125.30 0.3702 TOTAL $ 79,600 $ 46,333 $ 33,267 49,257.20 1.1308 SECTION 4 INFLATION RATE PER YEAR 2% SECTION 5 ABATEMENT TERM 25 Years [Yrs 1-10 100% Abatement and Yrs 11-25 75% Abatement] SECTION 6 PROPOSED IMPROVEMENTS $ 4,355,000 Property Class changed to Residential 19% Land Market Value changed to Residential Lot (based on $7.55 per SF) $ 371,892  ESTIMATED APPRAISED ESTIMATED ESTIMATED TOTAL VALUE ESTIMATED LAND IMPROVEMENT ADDRESS IMPROVEMENT NEW ASSESSED (Based on 75% of Total ASSESSED ASSESSED COST VALUE Improvement Cost + VALUE VALUE Land MV ) Apartment Complex $ 4,355,000 $ 3,638,142 $ 691,247 $ 70,659 $ 620,588 SECTION B. ESTIMATED TAXES WITHOUT THE IMPROVEMENT PROJECT 106 NW 9th Street 110 SW 9th Street Combined ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED YEAR APPRAISED APPRAISED VALUE TAX TAX TAX VALUE 1 $ 187,000.00 $ 6,272.55 $ 104,000.00 $ 3,724.33 $ 9,996.87 2 $ 190,740.00 $ 6,398.00 $ 106,080.00 $ 3,798.81 $ 10,196.81 3 $ 190,740.00 $ 6,398.00 $ 106,080.00 $ 3,798.81 $ 10,196.81 4 $ 194,554.80 $ 6,525.96 $ 108,201.60 $ 3,874.79 $ 10,400.75 5 $ 194,554.80 $ 6,525.96 $ 108,201.60 $ 3,874.79 $ 10,400.75 6 $ 198,445.90 $ 6,656.48 $ 110,365.63 $ 3,952.28 $ 10,608.76 7 $ 198,445.90 $ 6,656.48 $ 110,365.63 $ 3,952.28 $ 10,608.76 8 $ 202,414.81 $ 6,789.61 $ 112,572.94 $ 4,031.33 $ 10,820.94 9 $ 202,414.81 $ 6,789.61 $ 112,572.94 $ 4,031.33 $ 10,820.94 10 $ 206,463.11 $ 6,925.40 $ 114,824.40 $ 4,111.96 $ 11,037.36 11 $ 206,463.11 $ 6,925.40 $ 114,824.40 $ 4,111.96 $ 11,037.36 12 $ 210,592.37 $ 7,063.91 $ 117,120.89 $ 4,194.20 $ 11,258.10 13 $ 210,592.37 $ 7,063.91 $ 117,120.89 $ 4,194.20 $ 11,258.10 14 $ 214,804.22 $ 7,205.19 $ 119,463.31 $ 4,278.08 $ 11,483.27 15 $ 214,804.22 $ 7,205.19 $ 119,463.31 $ 4,278.08 $ 11,483.27 16 $ 219,100.30 $ 7,349.29 $ 121,852.58 $ 4,363.64 $ 11,712.93 17 $ 219,100.30 $ 7,349.29 $ 121,852.58 $ 4,363.64 $ 11,712.93 18 $ 223,482.31 $ 7,496.28 $ 124,289.63 $ 4,450.91 $ 11,947.19 19 $ 223,482.31 $ 7,496.28 $ 124,289.63 $ 4,450.91 $ 11,947.19 20 $ 227,951.96 $ 7,646.20 $ 126,775.42 $ 4,539.93 $ 12,186.13 21 $ 227,951.96 $ 7,646.20 $ 126,775.42 $ 4,539.93 $ 12,186.13 22 $ 232,511.00 $ 7,799.13 $ 129,310.93 $ 4,630.73 $ 12,429.86 23 $ 232,511.00 $ 7,799.13 $ 129,310.93 $ 4,630.73 $ 12,429.86 24 $ 237,161.22 $ 7,955.11 $ 131,897.15 $ 4,723.35 $ 12,678.45 25 $ 237,161.22 $ 7,955.11 $ 131,897.15 $ 4,723.35 $ 12,678.45 TOTALS $ 177,893.63 $ 105,624.35 $ 283,517.98 SECTION C. ESTIMATED TAXES WITH IMPROVEMENT PROJECT WITHOUT ABATEMENT ESTIMATED ESTIMATED YEAR APPRAISED TAX VALUE 1 $ 3,638,142.00 $ 72,457.89 2 $ 3,710,904.84 $ 73,907.05 3 $ 3,710,904.84 $ 73,907.05 4 $ 3,785,122.94 $ 75,385.19 5 $ 3,785,122.94 $ 75,385.19 6 $ 3,860,825.40 $ 76,892.89 7 $ 3,860,825.40 $ 76,892.89 8 $ 3,938,041.90 $ 78,430.75 9 $ 3,938,041.90 $ 78,430.75 10 $ 4,016,802.74 $ 79,999.37 11 $ 4,016,802.74 $ 79,999.37 12 $ 4,097,138.80 $ 81,599.35 13 $ 4,097,138.80 $ 81,599.35 14 $ 4,179,081.57 $ 83,231.34 15 $ 4,179,081.57 $ 83,231.34 16 $ 4,262,663.20 $ 84,895.97 17 $ 4,262,663.20 $ 84,895.97 18 $ 4,347,916.47 $ 86,593.89 19 $ 4,347,916.47 $ 86,593.89 20 $ 4,434,874.80 $ 88,325.76 21 $ 4,434,874.80 $ 88,325.76 22 $ 4,523,572.29 $ 90,092.28 23 $ 4,523,572.29 $ 90,092.28 24 $ 4,614,043.74 $ 91,894.13 25 $ 4,614,043.74 $ 91,894.13 TOTALS $ 2,054,953.83 SECTION D. ESTIMATED ABATED TAXES WITH IMPROVEMENT PROJECT ESTIMATED CUMULATIVE YEAR ABATEMENT ABATEMENT 1 $ 66,778.85 $ 66,778.85 2 $ 68,228.01 $ 135,006.85 3 $ 68,228.01 $ 203,234.86 4 $ 69,706.15 $ 272,941.00 5 $ 69,706.15 $ 342,647.15 6 $ 71,213.85 $ 413,861.00 7 $ 71,213.85 $ 485,074.85 8 $ 72,751.71 $ 557,826.56 9 $ 72,751.71 $ 630,578.26 10 $ 74,320.32 $ 704,898.59 11 $ 59,999.52 $ 764,898.11 12 $ 59,999.52 $ 824,897.64 13 $ 61,199.52 $ 886,097.15 14 $ 61,199.52 $ 947,296.67 15 $ 62,423.51 $ 1,009,720.17 16 $ 62,423.51 $ 1,072,143.68 17 $ 63,671.98 $ 1,135,815.65 18 $ 63,671.98 $ 1,199,487.63 19 $ 64,945.42 $ 1,264,433.05 20 $ 64,945.42 $ 1,329,378.46 21 $ 66,244.32 $ 1,395,622.78 22 $ 66,244.32 $ 1,461,867.11 23 $ 67,569.21 $ 1,529,436.32 24 $ 67,569.21 $ 1,597,005.53 25 $ 68,920.59 $ 1,665,926.12 TOTALS $ 1,665,926.12