HomeMy Public PortalAbout2013-10-28-TIF Resolution - Capital MallRESOLUTION NO. __ 1_ __ _
TAX INCREMENT FINANCING COMMISSION
OF
THE CITY OF JEFFERSON, MISSOURI
A RESOLUTION OF THE CITY OF JEFFERSON TAX INCREMENT FINANCING
COMMISSION RECOMMENDING APPROVAL OF THE CAPITAL MALL TAX
INCREMENT FINANCING REDEVELOPMENT PLAN, DESIGNATING A
REDEVELOPMENT AREA, RECOMMENDING A DESIGNATION OF BLIGHT
WITHIN THE REDEVELOPMENT AREA, RECOMMENDING DESIGNATION OF
THE REDEVELOPMENT PROJECT AREAS AND APPROVAL OF THE
REDEVELOPMENT PROJECTS WITffiN THE REDEVELOPMENT AREA , AND
RECOMMENDING APPROVAL OF A DEVELOPER TO THE CITY COUNCIL OF
THE CITY OF JEFFERSON, MISSOURI.
WH EREAS, the C ity of Jefferson Tax Increment Financin g Commiss ion ("TIF
Co mmi ssion") has been dul y form ed by th e City Coun cil of the C ity of Jefferso n, Missou ri
("C ity Co uncil ") purs uant to Se cti on 99.820 .2 ofthe Revised Statutes of Mi ssouri ("RSMo");
WH EREA S, on September 12 , 201 3, the City m ailed writt en n oti ces of the schedul ed TI F
Commi ssion public h earing to all tax in g d is tri c ts fro m whi ch taxabl e prop erty is included in the
p rop osed Rede ve lopment Are a ("Taxin g Di stricts"), in co mpli ance with Secti o ns 99.8 25 and
99 .830, RSMo ;
WH EREAS, Capital Mall JC , LLC ("Develo pe r"), submitted a proposal for app roval of
the Capital Mal l Redevel opment Plan ("TIF Plan "), whi ch wa s placed on fil e in the Office of the
C ity Clerk on Se ptemb er 27 , 2 01 3;
WHEREAS , on Septemb er 29 , 2013 , the C it y publ ished notice in the N ews Tribun e of
th e sch eduled TI F Commi ss ion publi c heari ng to co nsid er th e merits of the propo se d T IF Plan, in
co mpliance wi th Section 99.830, RSMo ;
WHEREA S, in accordance with th e written proce dures re lating to bids a nd proposals for
impl eme ntation of red evelopme nt proj e cts , on October 10 , 201 3, the City publish ed in the N ews
Tribune a notice of request for propos al s and bids , w hi ch provided reasona bl e o pportunity fo r
any person to submit proposals and bid s, for proposed redevelopment plans and fo r the
implementat io n of the proposed redeve lopment proj ects submi tted the rewith , in co mp li ance with
Sectio n 99.820.1(3), RS Mo;
WHEREAS , on Octo ber 16, 201 3, th e City ma iled written notice s of the schedul ed T IF
Commi ss ion publi c hearing to all perso ns in whose name the ge ne ral taxes fo r the last precedin g
year were p aid o n each lot, bl oc k, tract, or parce l of lan d lying within the Redeve lopm ent Area,
in co mpli ance w ith Secti on 99.8 30, RSMo;
WHEREAS, on October 20, 20 13, the City again publi shed notice in the News Tribune of
the scheduled TIF Commission public hearing to consider the merits of the proposed TIF Plan, in
compliance with Section 99.830, RSMo;
WHEREAS, copies of the notices of the public hearing h ave been submitted to the
Director of the D epartment of Eco nomic D evelop ment , in compliance with Sections 99.825 and
99.830, RSMo;
WHEREAS, on October 28, 2013, at 5:30 p.m., the TIF Commissio n opened the public
hearing and heard testimony and ev id en ce from a ll interes ted parties regarding the proposed TIF
Plan, and the n closed the public hearin g;
WHEREAS , the public hearin g conducted by the TIF Commission to consid er the TIF
Plan was open to the public, a quorum of the Commissioners was present and acted throughout,
and the proper notice of such heari ng was g iv en in accordance with all applicable laws including
Chapter 6 10 , RSMo ;
WHEREAS, after considering the evidence and testimony received at the public hearing,
the TIF Co mmi ssion now de sires to reco mmend that the City Council make required findings
and take certain actions to adopt and impl ement the T IF Plan.
NOW, THEREFORE, be it re so lved by the Tax Increm ent Financing Commission for the
City of Jefferson:
1. Findings. In acco rdan ce with Section 99.8 10 , RSMo, the TIF Commission
makes th e following findings and recommends that the City Council by ordinance make the
fo ll owin g findings regarding the TIF Plan :
A. The TIF Plan se ts forth in writing a general description of the program to
be und ertaken to acco mpli sh its objectives, including the estim ated redevelopment
project costs, the anticipated so urces of funds to pay the costs, evid ence of the
commitm ents to finance th e project costs, the anticipated type and term of the sources of
funds to pay costs, the anticipa te d type and terms of the obligations to be issued, the most
recent eq uali zed assessed valuation of the prop erty within the Redevelopment Area
which is to be subjected to payment s in lieu of taxes and economic ac tivity taxes pursuant
to Section 99.845 , RSMo, an estimate as to the equa lized assesse d valuation after
redeve lopment, and the gene ral land uses to apply in the Redevelopment Area;
B. The Redevelopment Area o n the whole is a bli ghted area, as s uch term is
defined in Section 99.805(1), RSMo , due to the presence of several blighting factors as
set forth in the Blight Study included in the TIF Plan. Specifically, the Commission
reco mm ends that the C ity Coun ci l find that the Bli ght Study provides substantial
ev id en ce that the proposed re development area on the who le meets the TIF statutory
requirements for a "bli g hted area" due to the predominance of blighting factors existing
in the proposed re development area. T he fac tors present in the parcel s of land described
in the Blight Study includ e a comb in ation of the followin g : inadequate street layout ,
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unsanitary or unsafe conditions, deterioration of site improvements, improper subdivision
or obsolete platting, or the existence of conditions which endanger life or property by fire
and other causes. The study further concludes, and the TIF Commission agrees, that
these blighting factors have resulted in an economic or social liability and/or constitute a
menace to the public health, safety, morals, or welfare in its present condition and use.
The TIF Plan is also accompanied by an affidavit, signed by the Developer, attesting to
the blighting conditions of the Redevelopment Area;
C. The proposed redevelopment satisfies the "but for " test set forth in Section
99 .810, RSMo, in that the Redevelopment Area on the whole has not been subject to
growth and development through investment by private enterprise and would not
reasonably be anticipated to be developed without the adoption of tax increment
financing , and the TIF Plan is accompanied by an affidavit , signed by the Developer,
attesting to this statement ;
D . The TIF Plan is m conformance with the document entitled
"Comprehensive Plan Update for the City of Jefferson, Missouri," which is the
comprehensive plan for the development of the City as a whole;
E. The TIF Plan contains estimated dates of completion of the redevelopment
projects and estimated dates for the retirement of obligations incurred to finance
redevelopment project costs , and said dates are not more than twenty-three (23) years
from the adoption of an ordinance approving a Redevelopment Project within the
Redevelopment Area and further, no property for a project will be acquired by eminent
domain later than five (5) years from the adoption of the ordinance approving the project;
F. A Relocation Assistance Plan has been developed for relocation assistance
for businesses and residences , and the relocation of any business or residents in the
Redevelopment Area, if necessary , will take place in accordance with the Relocation
Policy attached to the TIF Plan as Exhibit N ;
G . A cost-benefit analysis showing the economic impact of the TIF Plan on
each taxing district and political subdivision within the Redevelopment Area if the
project is built pursuant to the TIF Plan or is not built and evidence that the proposed
project is financially feasible for the Developer to construct with TIF assistance has been
provided to the City and the TIF Commission ;
H. The TIF Plan does not include the initial development or redevelopment of
any gambling establishment; and
I. The areas selected for the Redevelopment Project include only those
parcels of real property and improvements thereon which will be directly and
substantially benefited by the Redevelopment Project improvements.
2. Recommendations . The TIF Commission recommends that the City Council
take the following actions with respect to the TIF Plan:
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A. Adopt an ordinance to make the findings recommended m Section 1
above ;
B. Approve the TIF Plan;
C. Designate the Redevelopment Area as a redevelopment area as provided in
Section 99 .805(12);
D. Designate the Redevelopment Project Area and approve the
Redevelopment Projects described in the TIF Plan ;
E . Declare that Capital Mall JC , LLC , is the developer for the TIF Plan;
F . Negotiate and enter into a contract with the Developer for implementation
of the TIF Plan; and
G. Adopt an ordinance at the appropriate time to initiate tax increment
financing in the Redevelopment Project Area within the Redevelopment Area.
APPROVED BY THE TAX INCREMENT FINANCING COMMISSION FOR THE
CITY OF JEFFERSON THIS 28th DAY OF OCTOBER, 20 13.
Pas sed this 28th day of October, 2013.
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