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Aldermen hear five-year TIF report showing revenues, debt timelines for Branson Landing and Hills
Summary
City staff presented the required five-year Tax Increment Financing report for Branson Landing, Branson Hills and the Aquarium at the Boardwalk, outlining revenue flows, outstanding bond levels and projected payoffs; aldermen asked about maturity dates and refinancing plans.
Allison, the city finance staff member presenting the five-year TIF report, told the Board of Aldermen on Tuesday that the Branson Landing, Branson Hills and Aquarium at the Boardwalk TIF districts generated the incremental revenues that repay development bonds and incentives. "We bring in about $11,000,000 a year, sometimes $12,000,000," Allison said, and she walked the board through how base and increment values direct tax collections back to bonds or developers.
The presentation said Branson Landing began in 2002 (amended 2005) and accounted for several projects with a cited total development cost of about $176,000,000; Branson Hills began in 2004 with an estimated $65,000,000 project cost. Allison said the city is collecting incremental payments and currently projects sufficient sales-tax revenue to meet future balloon payments without refinancing. She told the board the Branson Landing TIF ends in 2028 and Branson Hills in 2029, and cited outstanding principal figures: about $50,000,000 on Branson Landing and $19,000,000 on Branson Hills.
Alderman (S9) questioned a maturity date shown in older documents and asked whether the city would still collect assessments once a particular bond tranche matured. Allison explained that the bond issued in 2005a will be paid off first and the 2005b tranche will be paid later, which is why payment dates and TIF termination dates differ. On refinancing, Allison said the city is planning to use current sales-tax allocations and required reserve funds to meet large maturities in 2027 without refinancing "We currently are looking at it to not refinance, and we are projecting the income to be there to not have to refinance," she said.
Mayor (S1) and other aldermen thanked Allison for the detailed report and reminded listeners that the full presentation and supporting spreadsheets are posted on the city's website for public review. No formal vote was required on the five-year report; the hearing was informational and closed after questions from aldermen.
