About

Overview

• Established by the City on October 18, 2004 pursuant to Ordinance No. 15874
• Termination date for TIF capture: December 19, 2027
• Approximately 192 acres, the development was intended to include:
  • Bass Pro Store
  • Minimum of 300,000 square feet of additional retail
  • Hotel
• 3 Redevelopment Project Areas: (1) East Retail Site; (2) West Retail Site; and (3) 40 Highway Retail Site
• City entered into a Redevelopment Agreement on February 9, 2005 with Crackerneck Creek, LLC and entered into a First Amendment to Redevelopment Agreement on March 16, 2006 with Crackerneck Creek, LLC

Revenue Sources

• PILOTs: 100% of the incremental increase in property tax revenues resulting from the annual increase in property valuations over the base property valuation certified at project approval.

• EATs: 50% of the incremental increase in local eligible sales tax revenues (City, County, Zoo District, 39th Street TDD, Crackerneck Creek TDD) over the based sales levels in the year before TIF collection was activated ($0).

• Bass Pro Lease Payments:

  • 

• State TIF Revenues: The TIF revenues allocated pursuant to the Certificate of Approval for the Crackerneck Creek
  TIF Plan (November 2, 2005) are allocated to repayment of the Crackerneck Creek debt. This revenue stream
  consists of the lesser of (a) 50% of the 3% general revenue portion of the state sales tax collected on net new sales in the TIF area (includes approximately 40% of the sales at Bass Pro and other retailers in the area) or (b) a schedule of annual payments as attached to the Certificate.

Outstanding Economic Development Bonds for Crackerneck Creek:

2006B Crackerneck Creek

2013A Crackerneck Creek

2013B Crackerneck Creek

2015C Crackerneck Creek

2015D Crackerneck Creek

Overview

• Established by Final Order and Judgment Certifying Creation of the Crackerneck Creek Transportation
  Development District on July 26, 2006; City entered into a Cooperative Agreement on April 21, 2008 with the
  Crackerneck Creek Transportation Development District and Crackerneck Creek, LLC and entered into a First
  Amendment to the Cooperative Agreement on March 1, 2010

Revenue Sources

• Sales Tax: 1% sales tax is imposed on businesses within the boundaries; 50% of the revenues not captured as EATs
  by the Crackerneck Creek TIF are dedicated to the repayment of the portion of the Crackerneck Creek debt related
  to transportation improvements; tax terminates in 2036.

Overview

• Established by the City Council on December 17, 2012 pursuant to Ordinance No. 18038
• Approximately 386 acres and includes 4 Redevelopment Project Areas
  • Project Area #1 includes the Menards; TIF capture will terminate on December 16, 2035
  • Project Area #2 includes the Independence Events Center property and the EATs captured within
    Project Area #1 generated by the Events Center CID sales tax are pledged to the Independence
    Events Center obligations
  • Project Area #3 includes Crackerneck Center and includes retail commercial and service commercial uses;
    TIF capture will terminate on December 17, 2035
  • Project Area #4 includes the Crackerneck Creek TIF
    • TIF was not activated within Redevelopment Project Area #4, and the PILOTs and EATs captured
      within the Crackerneck Creek TIF Area are captured pursuant to the Crackerneck Creek TIF
    • The TIF Revenues captured within Project Area #1 and Project Area #3 are pledged to pay the
      obligations associated with the Crackerneck Creek TIF

Revenue Sources

• Redevelopment Project #1: The Quiktrip store and Menards store located generally at the northeast quadrant of
  I-70 and Little Blue Parkway generate PILOTs and EATs pursuant to the I-70 and Little Blue Parkway TIF Plan.
  These revenues are dedicated to the repayment of the Crackerneck Creek debt.
• Redevelopment Project #2: The development located at the northwest quadrant of I-470 and Highway 40 (Main
  Event, Old Chicago, Slim Chickens, Charlie’s Car Wash) generate PILOTs and EATs pursuant to the I-70 and Little
  Blue Parkway TIF Plan. These revenues are dedicated to the repayment of the Crackerneck Creek debt.

Overview

• Established by Final Order and Judgment Certifying Creation of the 39th Street Transportation Development
  District on November 19, 2001

Revenue Sources

• Sales Tax: 0.00125% (one-eighth of one-percent) sales tax is imposed on businesses within the boundaries; 50%
  of the revenues are captured as EATs by the Crackerneck Creek TIF; the remainder are dedicated to other projects;
  tax terminates on August 31, 2032