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Home My Public Portal About2017-06-14 - TIF Resolution 2017-01 Adopted RESOLUTION NO. 2017-01 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 ST. MARY'S HOSPITAL TAX INCREMENT FINANCING PLAN,DESIGNATING A REDEVELOPMENT AREA, RECOMMENDING A DESIGNATION OF BLIGHT WITHIN THE REDEVELOPMENT AREA, RECOMMENDING DESIGNATION OF THE REDEVELOPMENT PROJECT AREA AND APPROVAL OF THE REDEVELOPMENT PROJECTS WITHIN THE REDEVELOPMENT AREA,AND RECOMMENDING APPROVAL OF A DEVELOPER TO THE CITY COUNCIL OF THE CITY OF JEFFERSON,MISSOURI. WHEREAS, the City of Jefferson Tax Increment Financing Commission ("TIF Commission") has been duly formed by the City Council of the City of Jefferson, Missouri ("City Council")pursuant to Section 99.820.2 of the Revised Statutes of Missouri ("RSMo."); WHEREAS, F & F Development, LLC, ("Developer"), originally submitted a proposal for approval of the St. Mary's Hospital Tax Increment Financing Plan("TIF Plan") in June 2016, which was subsequently updated and revised by the Developer, most recently on May 1, 2017; WHEREAS, in accordance with the written procedures relating to bids_and proposals for implementation of redevelopment projects, on March 23, 2017, the City published in the News Tribune a notice of request for proposals and bids, which provided reasonable opportunity for any person to submit proposals and bids, for proposed redevelopment plans and for the implementation of the proposed redevelopment projects submitted therewith, in compliance with Section 99.820.1(3), RSMo.; WHEREAS, on March 27, 2017, the City mailed written notices of the scheduled TIF Commission public hearing to all taxing districts from which taxable property is included in the proposed Redevelopment Area ("Taxing Districts"), in compliance with Sections 99.825 and 99.830, RSMo.; WHEREAS, on May 7, 2017, the City published 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, on May 5, 2017, the City mailed written notices of the scheduled TIF Commission public hearing to all persons in whose name the general taxes for the last preceding year were paid on each lot, block, tract, or parcel of land lying within the Redevelopment Area, in compliance with Section 99.830, RSMo.; • WHEREAS, on May 14, 2017,the City again published 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 thenotices of the public hearing have been assembled to be submitted to the Director of the Department of Economic Development, in compliance with Sections 99.825 and 99.830, RSMo.; WHEREAS, on May 18,'2017, at 6:00 p.m., the TIF Commission opened the public hearing and heard testimony and evidence from all interested parties regarding the proposed TIF Plan, and then continued the public hearing to June 14, 2017, at 6:00 p.m.; WHEREAS, on June 14, 2017, at 6:00 p.m., the TIF Commission resumed the public hearing and heard additional testimony and evidence from all interested parties regarding the proposed TIF Plan, and then closed the public hearing; WHEREAS, the public hearing conducted by the TIF Commission to consider the TIF Plan was open to the public, a quorum of the Commissioners was present and acted throughout, and the proper notice of such hearing was given in accordance with all applicable laws_including Chapter 610, RSMo.; WHEREAS, after considering the evidence and testimony received at the public hearing, the TIF Commission now desires to recommend that the City Council make required findings and take certain actions to adopt and implement the TIF Plan. NOW, THEREFORE, be it resolved by the Tax Increment Financing Commission for the City of Jefferson: 1. Findings. In accordance with Section 99.810, RSMo., the TIF Commission makes the following findings and recommends that the City Council, by ordinance, make the following findings regarding the TIF Plan: A. The TIF Plan sets forth in writing a general description of the program to be undertaken to accomplish' its objectives, including the estimated redevelopment project costs, the anticipated sources of funds to pay the costs, evidence of the commitments to finance the project costs, the anticipated type and term of the sources of funds to pay costs, the anticipated type and terms of the obligations to be issued, the most recent equalized assessed valuation of the property within the Redevelopment Area which is to be subjected to payments in lieu of taxes and economic activity taxes pursuant to Section 99.845, RSMo., an estimate as to the equalized assessed valuation after redevelopment, and the general land uses to apply in the Redevelopment Area; B. The Redevelopment Area on the whole is a blighted area, as such 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 recommends that the City Council find that the blight study provides substantial evidence 2 that the proposed redevelopment area on the whole meets the TIF statutory requirements for a "blighted area" due to the predominance of blighting factors existing in the proposed redevelopment area. The factors present in the parcels of land described in the blight study include a combination of the following: defective or inadequate street layout, unsanitary or unsafe conditions, deterioration of site improvements, and 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 in conformance with the document titled "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; 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 Plan attached to the TIF Plan; 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 area selected for the Redevelopment Projects include only those parcels of real property and improvements thereon which will be directly and substantially benefited by the Redevelopment Project improvements. 3 2. Recommendations. The TIF Commission recommends that the City Council take the following actions with respect to the TIF Plan: A. Adopt an ordinance to make the findings recommended in Section 1 above; B. Approve the TIF Plan; C. Designate the Redevelopment Area as a redevelopment area as provided in Section 99.805(12), RSMo.; D. Designate the Redevelopment Project Area and approve the Redevelopment Projects described in the TIF Plan; E. Declare that F &F Development, 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 for the Redevelopment Project Area within the Redevelopment Area. PASSED AND APPROVED BY THE TAX INCREMENT FINANCING COMMISSION OF THE CITY OF JEFFERSON, MISSOURI, THIS 14th DAY OF JUNE, 2017. 44", /41r,4153-- Chairman 4