HomeMy Public PortalAboutORD16201BILL NO. 2021-079
SPONSORED BY Councilmember Fitzwater
ORDINANCE NO. /1,2,0
AN ORDINANCE OF THE CITY OF JEFFERSON, MISSOURI, FINDING THAT
THE AREA DESCRIBED AS THE PROJECT TEN PIN REDEVELOPMENT AREA
IS A BLIGHTED AREA AS DEFINED IN CHAPTER 353 OF THE REVISED
STATUTES OF MISSOURI, AS AMENDED AND THAT THE REDEVELOPMENT
OF SUCH AREA IS NECESSARY AND IN THE PUBLIC INTEREST; APPROVING
A DEVELOPMENT PLAN FOR SUCH AREA; APPROVING A GRANT OF REAL
PROPERTY TAX ABATEMENT; APPROVING A DEVELOPMENT AGREEMENT;
AND PROVIDING FURTHER AUTHORITY.
WHEREAS, by reason of age, obsolescence, inadequate or outmoded design or
physical deterioration, a portion of a certain area situated within the
City of Jefferson, Missouri (the "City") and legally described in Exhibit
A, attached to and incorporated by reference in this Ordinance (the
"Project Ten Pin Redevelopment Area"), has become an economic and
social liability, and that such conditions are conducive to ill health, the
transmission of disease, crime, and/or the inability to pay reasonable
taxes; and
WHEREAS, a development plan entitled "Development Plan - Project Ten Pin
Redevelopment Project," a copy of which is attached to and
incorporated by reference in this Ordinance as Exhibit B (the
"Development Plan"), has been prepared in accordance with the
requirements of the Urban Redevelopment Corporations Law, Chapter
353 RSMo., as amended ("Chapter 353") and has been submitted by
the Jefferson City Redevelopment Corporation (the "353 Corporation")
to the Council of the City of Jefferson (the "Council") for consideration;
and
WHEREAS, the Development Plan at Exhibit C thereto contains an analysis of the
Project Ten Pin Redevelopment Area entitled "Study of Blighting
Factors Project Ten Pin Redevelopment District" (the "Blight Analysis")
which has been prepared to assist the Council in determining whether
the Project Ten Pin Redevelopment Area is a "blighted area" within the
meaning of Chapter 353; and
WHEREAS, the Development Plan describes and calls for a redevelopment project
(the "Redevelopment Project") to be undertaken by the 353
Corporation, its successors and assigns which includes a grant of
limited real property tax abatement as provided under Chapter 353;
and
WHEREAS, in accordance with the requirements of Chapter 353, the City has
provided written notice to each political subdivision whose boundaries
for ad valorem taxation purposes include any portion of the real
property within the Project Ten Pin Redevelopment Area of the
proposed grant of tax abatement and which notice stated that each
such political subdivision shall have the right to be heard at a public
hearing to consider the Development Plan and the grant of tax
abatement and has provided, together with such notice, a written
statement of the impact on ad valorem taxes that the proposed grant of
tax abatement would have on such political subdivision; and
WHEREAS, in accordance with the requirements of Chapter 353, the City has held
a duly noticed public hearing on February 7 at 6:00 p.m. at the
Jefferson City Hall, 320 E. McCarty Street, Jefferson City, MO 65101,
(the “Public Hearing”) for the stimulation of comment concerning the
Development Plan, the Blight Analysis, the Redevelopment Project,
and the proposed grant of limited tax abatement; and
WHEREAS, following the closure of the Public Hearing and upon consideration of
the testimony presented, the Council has determined that it is
necessary and in the interest of the public health, safety, morals, and
general welfare of the people of the City that the Council take the
appropriate official action respecting the findings and determinations
set forth in the Blight Analysis and the approval of the Development
Plan, the Redevelopment Project, and the proposed grant of property
tax abatement and, in connection therewith, the approval of a certain
Development Agreement in substantially the form attached as Exhibit
C to and incorporated by reference in this Ordinance (the
“Development Agreement”).
NOW, THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE CITY OF
JEFFERSON, MISSOURI AS FOLLOWS:
Section 1. The setting of the date and time of the Public Hearing and the
giving of the respective notices, by publication and in writing, together with the
preparation and furnishing of the Tax Impact Statement to each affected political
subdivision and all prior acts and activities attendant thereto are hereby approved,
confirmed, ratified and endorsed.
Section 2. Upon due consideration of the Blight Analysis and the testimony
presented at the Public Hearing, it is hereby found, determined, and declared that
the Project Ten Pin Redevelopment Area constitutes a “blighted area” as that term
is used and defined in Chapter 353.
Section 3. It is hereby further found, determined, and declared that the
redevelopment of the Project Ten Pin Redevelopment Area and the implementation
of the Redevelopment Project as provided in the Development Plan and pursuant to
Chapter 353 is necessary and in the interest of the public health, safety, morals,
and general welfare of the people of the City.
Section 4. The Development Plan, in substantially the form of Exhibit B,
having been duly reviewed and considered, is hereby approved.
Section 5. The Development Agreement by and among the City, the 353
Corporation, and DGVGB, LLC, in substantially the form of Exhibit C, having been
duly reviewed and considered, is hereby approved and the Mayor of the City is
hereby authorized and directed to execute and deliver the Development Agreement
on behalf of the City.
Section 6. Any redevelopment corporation acquiring real property within the
Project Ten Pin Redevelopment Area shall be entitled to abatement of ad valorem
taxes on such real property in accordance with the following schedule:
Commencing at the time such urban redevelopment corporation acquires the real
property, for the first ten (10) years following (the “Initial Period”), such property
shall not be subject to assessment or payment of general ad valorem taxes
imposed by the City or by the state or any political subdivision thereof, except to the
extent and in such amount of the assessed valuation of the land, exclusive of
improvements, as was determined by the Cole County Assessor upon acquisition of
title by the urban redevelopment corporation of such property, subject to the
payment of Payment in Lieu of Taxes as set forth in the Development Agreement;
for the next fifteen (15) years (the “Next Ensuing Period”), ad valorem taxes upon
the real property in the Project Ten Pin Redevelopment Area shall be measured by
the assessed valuation thereof as determined by the Cole County Assessor upon
the basis of fifty percent (50%) of the true value of such real property, including both
the land and any improvements thereon. The amounts of such tax assessments
shall not be increased during such periods so long as the real property is used in
accordance with the Development Plan. After the expiration of the twenty-five (25)
year period, the real property shall be subject to assessment and payment of all ad
valorem based on the true value of the real property.
Section 7. The grant of limited real property tax abatement provided for in this
Ordinance shall inure to the benefit of such urban redevelopment corporation and to
any successors and assigns with interest in real property originally acquired by the
urban redevelopment corporation so long as such successors and assigns shall
continue to use such property as provided in the Development Plan and in
accordance with all requirements of the Development Agreement. The real
property within the Redevelopment Corporation shall be acquired by the 353
Corporation on or before December 31, 2022. In the event the 353 Corporation
shall fail to acquire any portion of the property within the Project Ten Pin
Redevelopment Area by such time, the development rights hereunder including,
without limitation, the right of real property tax abatement shall automatically
terminate as to the un-acquired portions. In the event of a conflict between this
Ordinance and the Development Agreement, the terms of the Development
Agreement shall govern and this Ordinance shall be deemed amended accordingly.
Section 8. The Mayor, City Administrator, City Finance Director, and City
Clerk are hereby each further authorized to take any and all actions as may be
deemed necessary or convenient to carry out and comply with the intent of this
Ordinance and with the implementation of the Development Plan, the Development
Agreement, and the Redevelopment Project, and to execute and deliver for and on
behalf of the City all certificates, instruments, agreements, or other documents as
may be necessary, desirable, convenient, or proper to carry out the matters herein
authorized.
Section 9. The portions of this Ordinance shall be severable. In the event that
any portion of this Ordinance is found by a court of competent jurisdiction to be
invalid, the remaining portions of this Ordinance are valid, unless the court finds the
valid portions of this Ordinance are so essential and inseparably connected with
and dependent upon the void portions that it cannot be presumed that the Council
would have enacted the valid portions without the invalid ones, or unless the court
finds that the valid portions standing alone are incomplete and are incapable of
being executed in accordance with the legislative intent.
Section 10. This ordinance shall be in full force and effect from and after its
passage and approval.
Presiding Officer
ATTEST:
Approved:
'7�ilr 8oz2
Mayor Carrie Tergin
APPROVED AS TO FORM:
City of Jefferson
320 E. McCarty Street
Jefferson City, MO 65101
(573) 634-6311
January 13, 2022
By Certified Mail, Return Receipt Requested
Missouri Department of Revenue
County Tax Section
P.O. Box 453
Jefferson City, MO 65105
Cole County Commission
311 E. High Street, Room 200
Jefferson City, MO 65101
Cole County Collector
311 E. High Street, Room 100
Jefferson City, MO 65101
Jefferson City School District
315 E. Dunklin Street
Jefferson City, MO 65101
Re:
Carrie Tergin
Mayor
Emily Donaldson
City Clerk
edonaldson@jeffcitymo.org
City of Jefferson
320 E. McCarty Street
Jefferson City, MO 65101
Missouri River Regional Library
214 Adams Street
Jefferson City, MO 65101
Cole County Special Services
1908 Boggs Creek Road
Jefferson City, MO 65101
Notice of Public Hearing and Tax Impact Statement
Proposed Development Plan, 2017 Christy Drive
Ladies and Gentlemen:
The City Council of the City of Jefferson, Missouri, will hold a public hearing on
Monday, February 7th, 2022, at 6:00 p.m., in the Council Chambers at City Hall, 320
East McCarty, Jefferson City, Missouri regarding a proposed Development Plan and
grant of partial real property tax abatement pursuant to Missouri's Urban Redevelopment
Corporations Law for certain real property commonly known as 2017 Christy Drive in
Jefferson City, Missouri (the "Public Hearing"). At the Public Hearing, you will have a
right to be heard on this matter.
This notice and the attached Statement of the Impact on Ad Valorem Taxes on
Affected Political Subdivisions are being furnished to you pursuant to Section 353.110 of
the Urban Redevelopment Corporations Law. Any inquiries prior to the Public Hearing
Individuals should contact the ADA Coordinator at (573) 634-6570 to request accommodations or alternative formats as
required under the Americans with Disabilities Act. Please allow three business days to process the request.
Project Ten Pin Redevelopment Project
Mailing to Taxing Districts
Page 2 of 2
may be addressed to Nathan Nickolaus, Esq., Special Counsel, who may be reached at
660-672-4597 or by e-mail at NNickolaus@laubermunicipal.com.
Sincerely,
AstAtitAido"
Emily Donaldson
City Clerk
Encl.
Individuals should contact the ADA Coordinator at (573) 634-6570 to request accommodations or alternative formats as
required under the Americans with Disabilities Act. Please allow three business days to process the request.
PROJECT TEN PIN REDEVELOPMENT PROJECT
CITY OF JEFFERSON CITY, MISSOURI
JEFFERSON REDEVELOPMENT CORPORATION
Statement of the Estimated Impact on Ad Valorem Taxes of Affected Political
Subdivisions
Introduction and Redevelopment Project Overview
The City of Jefferson City, Missouri (the "City") is considering a grant of tax abatement
pursuant to the Urban Redevelopment Corporations Law, Chapter 353 of Revised
Statutes of Missouri, as amended ("Chapter 353"), for certain improved real property
located at 2017 Christy Drive within the corporate limits of the City (the "Redevelopment
Area"). The Redevelopment Area is comprised of a single lot which was the former
Capitol Bowl (Westgate Lanes) bowling alley. Consistent with the requirements of Chapter
353, the Jefferson Redevelopment Corporation (the "Redevelopment Corporation") in
conjunction with the Jefferson City Area Economic Development Corporation has
submitted a development plan (the "Development Plan") to the City Council proposing the
redevelopment of the Redevelopment Area and identifying tax abatement as a
development tool necessary for the redevelopment to occur.
The Redevelopment Area exhibits several conditions that support a determination by the
City Council that the Redevelopment Area, on the whole, constitutes a "blighted area" (as
that term is defined and used in Chapter 353). In response, the Development Plan
proposes the rehabilitation of the existing building as well as re -grading and cleanup of
the property so that the Redevelopment Area may be returned to productive use as an
entertainment venue, primarily bowling. Successful completion of the Redevelopment
Project will produce new jobs and improve the quality of life within the City and benefit the
greater Cole County area.
The following Statement of the Estimated Impact on Ad Valorem Taxes of Affected
Political Subdivisions (this "Tax Impact Statement") is being furnished to you pursuant to
Section 353.110 of Chapter 353 and is based upon an estimate of assessed valuation of
taxable real property and personal property within the Redevelopment Area before and
after the proposed redevelopment.
Assumptions and Considerations
Current and Estimated Valuations. The Redevelopment Area is currently owned by
DGVGB LLC("End-User"). DGVGB LLC is proposing, subject to the approval of the
Redevelopment Project and the associated tax abatement, to invest $4.1 million into the
property, including $685,000 in personal property which will not be subject to abatement.
The current building was substantially damaged by the 2019 tornado and currently is
unusable. As a result, the assessed value of the building and land dropped from $276,448
in 2019 to $88,000 in 2022.
1
The assigned post -redevelopment valuation for real property improvements
provided in this Tax Impact Statement is based upon anticipated substantial
improvements to the buildings and land. These amounts are multiplied by the commercial
assessment rate of thirty-two percent (32%). Estimates of post -redevelopment valuation
for personal property are based upon initial estimated personal property expenditures
multiplied by the personal property assessment rate of thirty-three and one-third percent
(331/3%).1
Proposed Tax Abatement. Chapter 353 allows for grants of real property tax abatement
for a total maximum period of twenty-five years. The Development Plan and the
Redevelopment Project call for a grant of abatement 75% of taxes on real property within
the Redevelopment Area for the first ten years followed by a 50% abatement for the
remaining 15 years. In the twenty-sixth, the End -User will pay taxes based upon the then -
current true value of the land and improvements. Moreover, the grant of tax relief under
Chapter 353 involves abatement of taxes on real property only and does not affect
personal property taxes.
Consistent with Chapter 353, the Abatement Period will start following the
acquisition of the Redevelopment Area by the Redevelopment Corporation, which is
expected to occur prior to December 31, 2022, and shall thus apply to tax years 2022
through 2029, inclusive. Upon conclusion of the Abatement Period, this Tax Impact
Statement anticipates that all taxing jurisdictions will receive revenues representing the
full valuation of the real and personal property in the Redevelopment Area. Additionally,
during the Abatement Period and afterward, it is anticipated that affected taxing
jurisdictions will continue to receive personal property tax revenues based on the
additional personal property and equipment to be installed by the End -User in the building
as a result of the Redevelopment Project (see below).
Levy Rates, Valuations Held Constant. Levy rates shown for each taxing district reflect
2021 rates per $100 of assessed valuation. This Tax Impact Statement does not predict,
nor make estimates based on any future levy rate increases. Accordingly, should any
taxing district increase its levy rate during the ten (10) year Abatement Period, that taxing
district will likely receive more revenue than the estimates provided in this Tax Impact
Statement. This Tax Impact Statement anticipates a modest two percent (2%) annual
increase in the value of the real property. This Tax Impact Statement makes no
predictions regarding the depreciation and/or replacement of personal property and
equipment at the Redevelopment Area over the Abatement Period and assumes that
replacement of personalty and equipment over time along with maintenance will result in
maintenance of the valuations of such personal property at the initial estimates provided
in this Tax Impact Statement. Thus, estimates of valuation over time have been held
constant and no attempt has been made to estimate effects of appreciation, depreciation,
or inflation over the Abatement Period and beyond.
Impact to Affected Political Subdivisions
' For calculation purposes 33 1/3rd was simplified to 33.33%
2
Ad Valorem Real Property Taxes. As noted above, the proposed abatement equates to
an abatement of one hundred percent (100%) of the ad valorem taxes attributable to the
improvements on the property for twenty-five (25) years. For the purpose of estimating
the long-term impact of the proposed project, a thirty-year period was considered. For
purposes of comparison, this Tax Impact Statement assumes that without the proposed
tax relief no significant change to the property would result. This assumption is based in
part on the long-term history of the property and the associated lack of investment. The
effects on individual entities receiving a share of the Commercial Surtax were not
examined, however, a total combined impact on all such entities is provided on the table
attached.
It is estimated that for all affected districts, the increase in personal property tax,
primarily gaming equipment, will offset the loss in real property taxes beginning in the first
year (year 1 on the table). By the end of the twenty-year period studied, each jurisdiction
will have received at least twice as much in real property taxes as a result of the
Redevelopment Project than such district would have received without redevelopment.
Taxes on Personal Property. Currently, there is no taxable personal property located on
the property. As a result, none of the affected jurisdictions receive personal property tax
from the Redevelopment Area. However, under the proposed Development Plan, the
End -User intends to invest $685,000 in games and equipment to be located at the
Redevelopment Area. Only these items are considered as most other items such as the
bowling alleys themselves are likely to be considered fixtures and thus exempt from tax.
Net Tax Impact
As stated above, the tax abatement associated with the Redevelopment Project will cause
an increase in the total taxes beginning in year one. After the real property tax abatement
ends the cumulative gains in revenue will accelerate accordingly. Projected gains are
estimated to continue to rise throughout the subsequent ten-year period.
In addition to resultant gains in net tax revenue, the Redevelopment Project is expected
to result in further benefits for the greater Jefferson City and Cole County areas that are
not easily quantifiable within this Tax Impact Statement. The Redevelopment Project will
directly create 25 new full-time equivalent jobs within the Redevelopment Area. The
amount of new wages paid and resulting purchases made by new employees can be
expected to produce additional tax revenues and positive economic activity within Cole
County. Finally, the cooperation demonstrated among affected jurisdictions in the
undertaking of the Redevelopment Project and its resulting success may potentially
encourage the attraction of other job -producing businesses to the area.
3
JC School Dist
Year
Without 353
Project
With 353
Project
Annual
Difference
Cumulative
Difference
0
$4,222.15
$109.01
($4,113.14)
($4,113.14)
1
$4,306.60
$14,178.42
$9,871.82
$9,871.82
2
$4,392.73
$14,439.93
$10,047.20
$19,919.02
3
$4,480.58
$14,706.45
$10,225.87
$30,144.89
4
$4,570.19
$14,978.07
$10,407.88
$40,552.77
5
$4,661.60
$15,254.91
$10,593.31
$51,146.08
6
$4,754.83
$15,537.05
$10,782.22
$61,928.30
7
$4,849.93
$15,824.61
$10,974.68
$72,902.99
8
$4,946.92
$16,117.68
$11,170.76
$84,073.75
9
$5,045.86
$16,416.39
$11,370.53
$95,444.27
10
$5,146.78
$16,720.83
$11,574.05
$107,018.32
11
$5,249.72
$20,721.26
$15,471.55
$122,489.87
12
$5,354.71
$21,086.95
$15,732.24
$138,222.11
13
$5,461.80
$21,459.47
$15,997.67
$154,219.78
14
$5,571.04
$21,838.95
$16,267.91
$170,487.69
15
$5,682.46
$22,225.52
$16,543.06
$187,030.75
16
$5,796.11
$22,619.32
$16,823.21
$203,853.96
17
$5,912.03
$23,020.48
$17,108.45
$220,962.41
18
$6,030.27
$23,429.16
$17,398.89
$238,361.30
19
$6,150.88
$23,845.50
$17,694.62
$256,055.92
20
$6,273.90
$24,269.64
$17,995.74
$274,051.65
21
$6,399.37
$24,701.73
$18,302.36
$292,354.01
22
$6,527.36
$25,141.93
$18,614.57
$310,968.58
23
$6,657.91
$25,590.40
$18,932.49
$329,901.07
24
$6,791.07
$26,047.29
$19,256.23
$349,157.30
25
$6,794.57
$26,512.78
$19,718.20
$368,875.50
26
$6,930.46
$26,987.01
$20,056.55
$388,932.05
27
$6,934.11
$27,470.18
$20,536.06
$409,468.12
28
$7,072.80
$27,962.44
$20,889.64
$430,357.76
29
$7,076.59
$28,463.97
$21,387.38
$451,745.14
30
$7,218.12
$28,974.96
$21,756.83
$473,501.97
Total
$142,031.37
$506,793.73
$473,501.97
$473,501.97
4
Cole County
Year
Without
353
Project
With 353
Project
Annual
Difference
Cumulative
Difference
0
$54.47
$1.41
($53.07)
($53.07)
1
$55.56
$182.92
$127.36
$74.30
2
$56.67
$186.30
$129.62
$203.92
3
$57.81
$189.73
$131.93
$335.85
4
$58.96
$193.24
$134.28
$470.13
5
$60.14
$196.81
$136.67
$606.79
6
$61.34
$200.45
$139.11
$745.90
7
$62.57
$204.16
$141.59
$887.49
8
$63.82
$207.94
$144.12
$1,031.61
9
$65.10
$211.80
$146.70
$1,178.31
10
$66.40
$215.72
$149.32
$1,327.63
11
$67.73
$267.33
$199.61
$1,527.23
12
$69.08
$272.05
$202.97
$1,730.20
13
$70.47
$276.86
$206.39
$1,936.60
14
$71.87
$281.75
$209.88
$2,146.48
15
$73.31
$286.74
$213.43
$2,359.91
16
$74.78
$291.82
$217.04
$2,576.95
17
$76.27
$297.00
$220.72
$2,797.68
18
$77.80
$302.27
$224.47
$3,022.15
19
$79.36
$307.64
$228.29
$3,250.43
20
$80.94
$313.11
$232.17
$3,482.61
21
$82.56
$318.69
$236.13
$3,718.73
22
$84.21
$324.37
$240.16
$3,958.89
23
$85.90
$330.15
$244.26
$4,203.15
24
$87.61
$336.05
$248.43
$4,451.58
25
$87.66
$342.05
$254.39
$4,705.97
26
$89.41
$348.17
$258.76
$4,964.73
27
$89.46
$354.41
$264.95
$5,229.68
28
$91.25
$360.76
$269.51
$5,499.19
29
$91.30
$367.23
$275.93
$5,775.11
30
$93.12
$373.82
$280.70
$6,055.81
Total
$1,832.41
$6,538.39
$6,108.88
$6,055.81
5
State of Missouri
Year
Without
353
Project
With 353
Project
Annual
Difference
Cumulative
Difference
0
$26.40
$0.68
($25.72)
($25.72)
1
$26.93
$88.65
$61.73
$61.73
2
$27.47
$90.29
$62.82
$124.55
3
$28.02
$91.96
$63.94
$188.49
4
$28.58
$93.65
$65.08
$253.57
5
$29.15
$95.38
$66.24
$319.80
6
$29.73
$97.15
$67.42
$387.22
7
$30.33
$98.95
$68.62
$455.84
8
$30.93
$100.78
$69.85
$525.69
9
$31.55
$102.65
$71.10
$596.79
10
$32.18
$104.55
$72.37
$669.16
11
$32.83
$129.56
$96.74
$765.90
12
$33.48
$131.85
$98.37
$864.27
13
$34.15
$134.18
$100.03
$964.30
14
$34.83
$136.55
$101.72
$1,066.01
15
$35.53
$138.97
$103.44
$1,169.45
16
$36.24
$141.43
$105.19
$1,274.64
17
$36.97
$143.94
$106.97
$1,381.62
18
$37.71
$146.50
$108.79
$1,490.41
19
$38.46
$149.10
$110.64
$1,601.05
20
$39.23
$151.75
$112.52
$1,713.57
21
$40.01
$154.45
$114.44
$1,828.01
22
$40.81
$157.21
$116.39
$1,944.40
23
$41.63
$160.01
$118.38
$2,062.78
24
$42.46
$162.87
$120.40
$2,183.19
25
$42.48
$165.78
$123.29
$2,306.48
26
$43.33
$168.74
$125.41
$2,431.89
27
$43.36
$171.76
$128.41
$2,560.30
28
$44.22
$174.84
$130.62
$2,690.91
29
$44.25
$177.98
$133.73
$2,824.64
30
$45.13
$181.17
$136.04
$2,960.68
Total
$888.08
$3,168.85
$2,960.68
$2,960.68
6
Road and Bridge
Year
Without
353
Project
With 353
Project
Annual
Difference
Cumulative
Difference
0
$244.55
$6.31
($238.24)
($238.24)
1
$249.44
$821.23
$571.79
$333.55
2
$254.43
$836.38
$581.95
$915.50
3
$259.52
$851.81
$592.29
$1,507.79
4
$264.71
$867.55
$602.84
$2,110.63
5
$270.01
$883.58
$613.58
$2,724.20
6
$275.41
$899.92
$624.52
$3,348.72
7
$280.91
$916.58
$635.67
$3,984.39
8
$286.53
$933.56
$647.02
$4,631.41
9
$292.26
$950.86
$658.59
$5,290.01
10
$298.11
$968.49
$670.38
$5,960.39
11
$304.07
$1,200.20
$896.13
$6,856.52
12
$310.15
$1,221.38
$911.23
$7,767.75
13
$316.35
$1,242.96
$926.60
$8,694.35
14
$322.68
$1,264.94
$942.26
$9,636.61
15
$329.13
$1,287.33
$958.19
$10,594.80
16
$335.72
$1,310.14
$974.42
$11,569.22
17
$342.43
$1,333.37
$990.94
$12,560.16
18
$349.28
$1,357.04
$1,007.76
$13,567.93
19
$356.27
$1,381.16
$1,024.89
$14,592.82
20
$363.39
$1,405.73
$1,042.33
$15,635.16
21
$370.66
$1,430.75
$1,060.09
$16,695.25
22
$378.07
$1,456.25
$1,078.18
$17,773.43
23
$385.63
$1,482.23
$1,096.59
$18,870.02
24
$393.35
$1,508.69
$1,115.34
$19,985.36
25
$393.55
$1,535.65
$1,142.10
$21,127.46
26
$401.42
$1,563.12
$1,161.70
$22,289.16
27
$401.63
$1,591.10
$1,189.47
$23,478.64
28
$409.66
$1,619.62
$1,209.95
$24,688.59
29
$409.88
$1,648.67
$1,238.78
$25,927.37
30
$418.08
$1,678.26
$1,260.18
$27,187.55
Total
$8,226.62
$29,354.09
$27,425.79
$27,187.55
7
Jefferson City
Year
Without
353
Project
With 353
Project
Annual
Difference
Cumulative
Difference
0
$404.80
$10.45
($394.35)
($394.35)
1
$412.90
$1,359.36
$946.46
$552.12
2
$421.15
$1,384.43
$963.28
$1,515.39
3
$429.58
$1,409.98
$980.41
$2,495.80
4
$438.17
$1,436.03
$997.86
$3,493.66
5
$446.93
$1,462.57
$1,015.64
$4,509.30
6
$455.87
$1,489.62
$1,033.75
$5,543.04
7
$464.99
$1,517.19
$1,052.20
$6,595.25
8
$474.29
$1,545.29
$1,071.00
$7,666.25
9
$483.77
$1,573.93
$1,090.15
$8,756.40
10
$493.45
$1,603.11
$1,109.67
$9,866.06
11
$503.32
$1,986.66
$1,483.34
$11,349.40
12
$513.38
$2,021.72
$1,508.33
$12,857.73
13
$523.65
$2,057.43
$1,533.78
$14,391.52
14
$534.13
$2,093.82
$1,559.69
$15,951.21
15
$544.81
$2,130.88
$1,586.07
$17,537.28
16
$555.70
$2,168.63
$1,612.93
$19,150.21
17
$566.82
$2,207.10
$1,640.28
$20,790.48
18
$578.15
$2,246.28
$1,668.12
$22,458.61
19
$589.72
$2,286.19
$1,696.48
$24,155.08
20
$601.51
$2,326.86
$1,725.35
$25,880.43
21
$613.54
$2,368.29
$1,754.74
$27,635.17
22
$625.81
$2,410.49
$1,784.68
$29,419.85
23
$638.33
$2,453.49
$1,815.16
$31,235.01
24
$651.10
$2,497.29
$1,846.20
$33,081.20
25
$651.43
$2,541.92
$1,890.49
$34,971.69
26
$664.46
$2,587.39
$1,922.93
$36,894.62
27
$664.81
$2,633.71
$1,968.90
$38,863.52
28
$678.11
$2,680.91
$2,002.80
$40,866.32
29
$678.47
$2,728.99
$2,050.52
$42,916.84
30
$692.04
$2,777.98
$2,085.94
$45,002.78
Total
$13,617.30
$48,588.99
$45,397.13
$45,002.78
8
Cole County Special Services
Year
Without
353
Project
With 353
Project
Annual
Difference
Cumulative
Difference
0
$81.58
$2.11
($79.47)
($79.47)
1
$83.21
$273.94
$190.73
$111.26
2
$84.87
$278.99
$194.12
$305.38
3
$86.57
$284.14
$197.57
$502.96
4
$88.30
$289.39
$201.09
$704.05
5
$90.07
$294.74
$204.67
$908.72
6
$91.87
$300.19
$208.32
$1,117.04
7
$93.71
$305.75
$212.04
$1,329.09
8
$95.58
$311.41
$215.83
$1,544.92
9
$97.49
$317.18
$219.69
$1,764.60
10
$99.44
$323.06
$223.62
$1,988.23
11
$101.43
$400.35
$298.93
$2,287.15
12
$103.46
$407.42
$303.96
$2,591.11
13
$105.53
$414.62
$309.09
$2,900.20
14
$107.64
$421.95
$314.31
$3,214.51
15
$109.79
$429.42
$319.63
$3,534.14
16
$111.99
$437.03
$325.04
$3,859.18
17
$114.23
$444.78
$330.55
$4,189.73
18
$116.51
$452.67
$336.16
$4,525.90
19
$118.84
$460.72
$341.88
$4,867.77
20
$121.22
$468.91
$347.69
$5,215.47
21
$123.64
$477.26
$353.62
$5,569.09
22
$126.11
$485.77
$359.65
$5,928.74
23
$128.64
$494.43
$365.79
$6,294.53
24
$131.21
$503.26
$372.05
$6,666.58
25
$131.28
$512.25
$380.97
$7,047.56
26
$133.90
$521.41
$387.51
$7,435.07
27
$133.97
$530.75
$396.78
$7,831.84
28
$136.65
$540.26
$403.61
$8,235.45
29
$136.73
$549.95
$413.22
$8,648.68
30
$139.46
$559.82
$420.36
$9,069.04
Total
$2,744.18
$9,791.74
$9,148.51
$9,069.04
9
Library
Year
Without
353
Project
With 353
Project
Annual
Difference
Cumulative
Difference
0
$176.00
$4.54
($171.46)
($171.46)
1
$179.52
$591.03
$411.51
$240.05
2
$183.11
$601.93
$418.82
$658.87
3
$186.77
$613.04
$426.26
$1,085.13
4
$190.51
$624.36
$433.85
$1,518.98
5
$194.32
$635.90
$441.58
$1,960.56
6
$198.20
$647.66
$449.46
$2,410.02
7
$202.17
$659.65
$457.48
$2,867.50
8
$206.21
$671.86
$465.65
$3,333.15
9
$210.34
$684.32
$473.98
$3,807.13
10
$214.54
$697.01
$482.46
$4,289.59
11
$218.83
$863.76
$644.93
$4,934.52
12
$223.21
$879.01
$655.80
$5,590.32
13
$227.67
$894.54
$666.86
$6,257.18
14
$232.23
$910.35
$678.13
$6,935.31
15
$236.87
$926.47
$689.60
$7,624.90
16
$241.61
$942.88
$701.27
$8,326.18
17
$246.44
$959.61
$713.16
$9,039.34
18
$251.37
$976.64
$725.27
$9,764.61
19
$256.40
$994.00
$737.60
$10,502.21
20
$261.53
$1,011.68
$750.15
$11,252.36
21
$266.76
$1,029.69
$762.93
$12,015.29
22
$272.09
$1,048.04
$775.95
$12,791.24
23
$277.53
$1,066.73
$789.20
$13,580.44
24
$283.08
$1,085.78
$802.69
$14,383.13
25
$283.23
$1,105.18
$821.95
$15,205.08
26
$288.90
$1,124.95
$836.06
$16,041.14
27
$289.05
$1,145.09
$856.04
$16,897.18
28
$294.83
$1,165.61
$870.78
$17,767.97
29
$294.99
$1,186.52
$891.53
$18,659.50
30
$300.89
$1,207.82
$906.93
$19,566.43
Total
$5,920.56
$21,125.65
$19,737.88
$19,566.43
10
Jefferson City Fire Pension Fund
Year
Without
353
Project
With 353
Project
Annual
Difference
Cumulative
Difference
0
$84.57
$2.18
($82.38)
($82.38)
1
$86.26
$283.99
$197.73
$115.34
2
$87.98
$289.23
$201.24
$316.59
3
$89.74
$294.56
$204.82
$521.41
4
$91.54
$300.00
$208.47
$729.87
5
$93.37
$305.55
$212.18
$942.05
6
$95.24
$311.20
$215.96
$1,158.01
7
$97.14
$316.96
$219.82
$1,377.83
8
$99.08
$322.83
$223.75
$1,601.58
9
$101.07
$328.81
$227.75
$1,829.33
10
$103.09
$334.91
$231.82
$2,061.15
11
$105.15
$415.04
$309.89
$2,371.04
12
$107.25
$422.36
$315.11
$2,686.15
13
$109.40
$429.82
$320.43
$3,006.58
14
$111.59
$437.43
$325.84
$3,332.42
15
$113.82
$445.17
$331.35
$3,663.77
16
$116.09
$453.06
$336.96
$4,000.73
17
$118.42
$461.09
$342.68
$4,343.40
18
$120.78
$469.28
$348.49
$4,691.90
19
$123.20
$477.62
$354.42
$5,046.31
20
$125.66
$486.11
$360.45
$5,406.76
21
$128.18
$494.77
$366.59
$5,773.35
22
$130.74
$503.58
$372.84
$6,146.19
23
$133.36
$512.57
$379.21
$6,525.40
24
$136.02
$521.72
$385.69
$6,911.10
25
$136.09
$531.04
$394.95
$7,306.04
26
$138.81
$540.54
$401.72
$7,707.77
27
$138.89
$550.22
$411.33
$8,119.10
28
$141.67
$560.08
$418.41
$8,537.51
29
$141.74
$570.12
$428.38
$8,965.89
30
$144.58
$580.36
$435.78
$9,401.67
Total
$2,844.83
$10,150.87
$9,484.05
$9,401.67
11
SURTAX
Year
Without
353
Project
With 353
Project
Annual
Difference
Cumulative
Difference
0
$510.40
$0.00
($510.40)
($510.40)
1
$520.61
$1,713.98
$1,193.37
$682.97
2
$531.02
$1,745.59
$1,214.57
$1,897.54
3
$541.64
$1,777.81
$1,236.17
$3,133.70
4
$552.47
$1,810.64
$1,258.17
$4,391.87
5
$563.52
$1,844.11
$1,280.59
$5,672.46
6
$574.79
$1,878.22
$1,303.42
$6,975.88
7
$586.29
$1,912.98
$1,326.69
$8,302.57
8
$598.01
$1,948.41
$1,350.39
$9,652.96
9
$609.98
$1,984.52
$1,374.54
$11,027.50
10
$622.17
$2,021.32
$1,399.14
$12,426.64
11
$634.62
$2,504.92
$1,870.30
$14,296.94
12
$647.31
$2,549.12
$1,901.81
$16,198.75
13
$660.26
$2,594.15
$1,933.90
$18,132.65
14
$673.46
$2,640.03
$1,966.57
$20,099.21
15
$686.93
$2,686.76
$1,999.83
$22,099.04
16
$700.67
$2,734.36
$2,033.69
$24,132.73
17
$714.68
$2,782.86
$2,068.18
$26,200.91
18
$728.98
$2,832.26
$2,103.29
$28,304.20
19
$743.56
$2,882.59
$2,139.04
$30,443.23
20
$758.43
$2,933.86
$2,175.44
$32,618.67
21
$773.60
$2,986.10
$2,212.50
$34,831.17
22
$789.07
$3,039.31
$2,250.25
$37,081.42
23
$804.85
$3,093.53
$2,288.68
$39,370.09
24
$820.95
$3,148.76
$2,327.81
$41,697.91
25
$821.37
$3,205.03
$2,383.66
$44,081.57
Total
$17,169.64
$61,251.20
$44,081.57
$44,081.57
12
U.S. Postal Service
CERTIFIED MAIL RECEIPT
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9590 9402 5092 9092 1798 58
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9590 9402 5092 9092 1798 72
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Exhibit A
Legal Description of Redevelopment Area
Part of the South Half of the Northwest Quarter of Section 24, Township 44 North, Range 12
West, in the City of Jefferson, Cole County, Missouri, being more particularly shown and
described as Tract A on survey recorded November 24, 2008 in Survey Record Book B, Page 68,
Cole County Recorder's Office.
EXCEPT that part shown and described as Tract A-1 on survey of record in Survey Record Book
C, Page 43, Cole County Records and conveyed to Riley Brothers LLC in Warranty Deed
recorded in Book 713, Page 812, Cole County Records.
Property Address: 2017 CHRISTY DRIVE, JEFFERSON CITY, MO 65101
Subject to easements, restrictions, reservations, and covenants of record, if any.
Development Plan
PROJECT TEN PIN
2017 Christy Drive
Jefferson City, Missouri
Prepared for
The City Council of the City of Jefferson City, Missouri
on behalf of
Jefferson City Redevelopment Corporation
Exhibit B
1
Development Plan
PROJECT TEN PIN
2017 Christy Dr.
Jefferson City, Missouri
City of Jefferson City, Missouri
Jefferson City Redevelopment Corporation
Introduction
This Development Plan (this “Plan”) sets forth a program of redevelopment intended to
eliminate or mitigate certain factors which cause an area containing approximately a
single lot in Jefferson City, Missouri, located at 2017 Christ Drive, Jefferson City, Missouri
and legally described in Exhibit A and depicted on Exhibit B, both attached to and
incorporated in this Plan by reference (the “Redevelopment Area”), to constitute a
“blighted area,” as that term is used and defined in the Urban Redevelopment
Corporations Law, Chapter 353 of the Revised Statutes of Missouri, as amended
(“Chapter 353”). A study entitled “Study of Blighting Factors within the Ten Pin
Redevelopment Area” chronicling conditions of blight in the Redevelopment Area (the
“Blight Analysis”) has been performed and has concluded that evidence of physical,
social and economic conditions of blight exist in the Redevelopment Area. A copy of the
Blight Analysis is attached as Exhibit C and is incorporated in this Plan by reference and
sets forth the factors which support this determination.
The Redevelopment Area encompasses a single parcel of land in Jefferson City. The
Parcel is owned by DGVGB, LLC (the “End-User”). The Redevelopment Area consists of
the former Capitol Bowl (formerly Westgate Bowling). The location was the last bowling
alley within 20 miles of Jefferson City. Because of the unique nature of its former use and
the tornado damage, redevelopment is not likely to occur unaided. To address the
blighting factors present in the Redevelopment Area the Jefferson City Redevelopment
Corporation (the “353 Corporation”) has determined that redevelopment of the property
as a bowling and entertainment center will have the greatest positive impact on the
surrounding properties. This Plan has been prepared in accordance with Chapter 353,
and procedural ordinances of the City governing consideration of redevelopment
proposals, which calls for the grant of limited real property tax abatement to induce
redevelopment and preservation of both lots.
Chapter 353 Provisions and Requirements
Chapter 353 as a redevelopment tool is available to all Missouri cities regardless of size.
Chapter 353 encourages redevelopment by providing for real property tax abatement for
properties within designated redevelopment areas. Under Chapter 353, real property
acquired by an Urban Redevelopment Corporation (as that term is used in Chapter 353)
and used in accordance with an approved redevelopment plan may receive tax relief in
the form of partial real property tax abatement for a period of up to twenty-five years.
Taxation of personal property remains unaffected.
2
Before authorizing a redevelopment project, and granting property tax abatement, the
governing body of a city must schedule and hold a public hearing, notify affected taxing
districts in writing, and provide to the taxing districts a written statement identifying the
estimated impact of the proposed property tax abatement. Following the public hearing,
the city may approve the project and the tax abatement by ordinance. The ordinance
must set the time for acquisition of property by the Urban Redevelopment Corporation
and for the expiration of the development rights granted.
Redevelopment Objectives
The principal objectives of this Plan are the reduction or elimination of blighted conditions
within the Redevelopment Area and the improvement of the site to encourage
redevelopment of the surrounding areas.
Providing a place for people to bowl and engage in other forms of entertainment is a
significant factor in the quality of life for the people of Jefferson City. Increasing and
maintaining a high quality of life has been shown to significantly increase the economic
vitality of a community. While the availability of jobs was the determining factor thirty
years ago, today quality of life is the determining factor for where potential workers choose
to locate. The availability of workers is the number one factor that businesses use when
choosing to locate in a community. Quality of life is not just low crime rates and good
schools, although those are important. Quality of life is about those things that make
people feel good about living in a place.
This plan is designed to allow the former bowling alley to return to economic viability.
New and improved bowling facilities will attract users from within and outside the
community. The provision of other entertainments such as pool and video games offers
entertainment to a new demographic.
To induce these actions, this Plan also calls for the abatement of 75% real property taxes
on improvements for a ten-year period and a 50% reduction in property taxes for the
following fifteen-year period to incentivize and induce the called-for redevelopment
activities.
Description of the Redevelopment Project
A. Redevelopment Project Activities
The Redevelopment will be substantially similar to the project as shown in Exhibit D,
attached hereto.
No use of eminent domain will be necessary under this Plan. No request for the City to
exercise eminent domain on behalf of the 353 Corporation has been or will be made.
B. Relocation Plan
The Council of the City of Jefferson City (the “City Council”) by ordinance has established
a relocation policy for projects undertaken pursuant to Chapter 353 and other
3
redevelopment statutes (the “Relocation Policy”), all in accordance with requirements of
Sections 523.200 et seq. of the Revised Statutes of Missouri, as amended. This Plan
incorporates the Relocation Policy as the relocation plan for the Redevelopment Project.
This Plan as proposed does not require relocation activities.
C.Redevelopment Terms and Proposed Limitations on Tax Abatement
Chapter 353 allows for grants of real property tax abatement for a total maximum period
of twenty-five years. This Plan calls for a grant of abatement 75% of taxes on real
property improvments only within the Redevelopment Area for a period of ten (10) years
followed by a 50% abatement for the following fifteen years. Throughout this twenty-five-
year period and thereafter, all affected taxing districts will continue to receive personal
property taxes on existing and new equipment and personalty.
Land Use Plan
The Redevelopment Area is part of a C-2 zoning district. No change to the underlying
zoning district is required.
Duration of Plan
This Plan and all development rights hereunder shall expire at the end of the twenty-five-
year term of granted tax abatement that begins when the 353 Corporation acquires the
real property within the Redevelopment Project Area, which acquisition shall occur no
later than December 31, 2022.
Plan Amendments
This Plan may be amended from time to time by the City Council by ordinance. Any such
amendment that substantially departs from the terms of any redevelopment agreement
between the City and the End-User, shall additionally require approval by any affected
developer or sub-developer.
4
Exhibit A
Legal Description of Redevelopment Area
Part of the South Half of the Northwest Quarter of Section 24, Township 44 North, Range 12
West, in the City of Jefferson, Cole County, Missouri, being more particularly shown and
described as Tract A on survey recorded November 24, 2008 in Survey Record Book B, Page 68,
Cole County Recorder's Office.
EXCEPT that part shown and described as Tract A-1 on survey of record in Survey Record Book
C, Page 43, Cole County Records and conveyed to Riley Brothers LLC in Warranty Deed
recorded in Book 713, Page 812, Cole County Records.
Property Address: 2017 CHRISTY DRIVE, JEFFERSON CITY, MO 65101
Subject to easements, restrictions, reservations, and covenants of record, if any.
5
Exhibit B
Map of Redevelopment Area
Aerial Overview
and
Redevelopment Project Activities
6
EXHIBIT C
Study of Blighting Factors
within the Redevelopment Area
Study of Blighting Factors
within the Project Ten Pin Redevelopment District
1
Introduction.
In accordance with Chapter 353, this analysis of factors within the Redevelopment District
(the “District”) described in that certain development plan entitled “Development Plan –
Historic Downtown Jefferson City Community Improvement District Redevelopment
District” (the “Plan”) has been prepared to assist the Jefferson City City Council (the
“Council”) in determining whether the District constitutes a “blighted area,” as that term is
used and defined in the Urban Redevelopment Corporations Law, Chapter 353 of the
Revised Statutes of Missouri, as amended (“Chapter 353”).
Description of Redevelopment District
The District is located in the south-central part of the City of Jefferson City, Missouri, as
depicted on Exhibit A attached to the Plan and incorporated by reference in this analysis.
The District consists of a single tract of land.
The District consists of the former Capitol Bowl bowling alley. The bowling alley was
formerly known as Westgate Lanes. At one point Jefferson City had three bowling alleys.
Rainbow Lanes Bowling Alley was destroyed by fire in 2015. Capitol Bowling was
destroyed by the 2019 EF-3 Tornado. This left Jefferson City with no bowling facilities
within 20 miles.
At the time of this study, the District is zoned C-2. The C-2 District is intended to
accommodate general trades and commercial services not permitted in central and
neighborhood commercial districts located at select nodes, intersections, and highway
2
interchanges to serve the motoring public and highway users (City Code § 35-26(D).).
Definition of Blight
Chapter 353 requires as a prerequisite to the undertaking of proposed redevelopment
activities, including the granting of real property tax abatement, that the Council make a
determination that the District is a “blighted area,” as that term is used and defined in
Chapter 353. A “blighted area” is defined by Chapter 353 to mean:
“That portion of the city within which the legislative authority of such city
determines that by reason of age, obsolescence, inadequate or
outmoded design or physical deterioration have become economic and
social liabilities and that such conditions are conducive to ill health,
transmission of disease, crime or inability to pay reasonable taxes.
(§ 353.020(2), Missouri Revised Statutes, as amended) (emphasis added).
The determination of statutory “blight” need not encompass the entire District. Rather,
Chapter 353 expressly provides that “any such area may include buildings and
improvements not in themselves blighted, and any real property, whether improved or
unimproved, the inclusion of which is deemed necessary for the effective clearance, re-
planning, reconstruction, rehabilitation of the area of which such buildings, improvements,
or real property form a part.” Based on the analysis detailed below, the Council has a
sufficient factual basis to support a determination that the District is indeed a “blighted
area” under Chapter 353.
Chapter 99 RSMo (Tax Increment Financing) has a similar definition of “Blight” which
reads as follows:
“Blighted area”, an area which, by reason of the predominance of defective
or inadequate street layout, insanitary 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, or any combination of such factors, retards the provision of housing
accommodations or constitutes an economic or social liability or a menace
3
to the public health, safety, morals, or welfare in its present condition and
use;
(§ 99.805(1) RSMo.)
DETERMINATION OF BLIGHT
The following factors demonstrate that the District is a “blighted area” as that term is
defined and used in Chapter 353 and applicable judicial determinations:
Blight factors present within the District include:
(1) unsafe conditions;
(2) deterioration of site improvements;
(3) any combination of such factors which constitutes an economic or social liability
or a menace to the public health, safety, morals, or welfare in its present condition
and useObsolescence and Economic Underutilization
Each is discussed below.
1. Unsafe Conditions.
As a result of the tornado, one entire wall
of the structure collapsed. Under the City
Code buildings so damaged are
considered to be dangerous (City Code §
8-82). Although the structure has now
been repaired, the costs of repair make
4
the project economically unviable.
2. Deterioration of site improvements:
The building was constructed in 1961. It was
almost 60 years old when the tornado struck.
The tornado obviously caused additional
damage.
3. Economic Liability:
As a result of the damage, the property has become an economic liability. Its damaged
appearance serves as a drag on surrounding property. As stated above, repairs have
begun, however, such repairs would not have been possible without the promise of
incentives.
SUMMARY OF FINDINGS AND RECOMMENDATIONS
The following summarizes the findings of this analysis. This analysis concludes that the
District meets the statutory definition of ‘blight’” for numerous reasons including:
1. The District consists of a single very damaged and abandoned building. This
abandoned building is damaged to an extent that it is not likely to be placed back
into productive service without expensive improvements which makes it
economically unviable. Therefore, the District would meet the definition of blight as
found defined by §353.020(2) RSMo.
2. The building is suffering from physical deterioration agrivated by damage inflicted
5
by an EF-3 tornado. These physical deficiencies make the property in the District
unappealing, reducing its marketability. They also create financial burdens on
prospective users of the property, which also functions to reduce their value. As a
result, the property meets the definition of blight as found defined by §353.020(2)
RSMo.
3. The District constitutes an economic and social liability due to underutilization and
obsolescence. As such it is unlikely that prospective users would invest in these
improvements without assistance.
CONCLUSION:
This analysis demonstrates that the District exhibits conditions that the meet statutory
definition of blight. There is clear evidence supporting a determination by the Council that
the Redevelopment District constitutes a “blighted area” so that the clearance, re-
planning, reconstruction, or rehabilitation of the Redevelopment District is necessary to
effectuate the purposes of Chapter 353, as amended. This analysis recommends that
the Council so find and determine.
6
EXHIBIT A
7
EXHIBIT D
8
We have a unique opportunity to create a much-needed
place where friends and families can come to hang out,
enjoy their time together and provide a service missing
from our community. Bowling has been a staple sport
in America for the last 100 years and we are missing it
in Jefferson City. Although the times have changed,
people want and need a place to congregate and have
fun.
BUSINESS PLAN
9
EXECUTIVE SUMMARY
• Opportunity: No bowling alley or family entertainment center within a 20-mile
radius
• Mission: Provide a unique experience for sports enthusiasts who want to have
fun, eat well and enjoy time together.
• Your Solution: Have a state-of-the-art bowling facility that includes other
gaming such as, air hockey, darts, pool, ping-pong, foosball, all the big games on
screen, good food and a place that kids enjoy going to with their parents.
• Market Focus: Primarily adults looking for a place they can come and enjoy time
together and bring their family
• Expected Returns: We expect gross revenue to exceed $2,864,000 annually with
gross profit over $2,400,000 and operating expenses just over $1,700,000 for an
EBITDA just over $730,000 roughly 25% of annual gross revenue.
10
COMPANY OVERVIEW
• Company Summary: Striker’s Grill & Tornado Alley are a premier social
venue for friends, family and business associates to get together to enjoy a
beer, watch the game, participate in indoor sporting activities, games and
bowling.
• Mission Statement: Striker’s Grill & Tornado Alley will be the place where
people in and around JC come to have fun, have a beer, and enjoy a social
atmosphere.
• Company History: Striker’s Grill & Tornado Alley is the culmination or 5
lifetimes of unique experiences among 5 friends that know how to have a
good time and want others around them to do the same.
o As a lifelong resident of Jefferson City, with strong ties to his
community and known for his positive attitude and can do spirit, Brian
Bloomer, has many years of experience in the restaurant and bar
industry, as well as construction. Brian has worked at Ameren’s
Callaway nuclear plant for the past 16 years. He runs a successful self-
storage facility and remodeling business in Jefferson City. He is a
strong proponent of ensuring our community provides adequate
opportunities for family activities and jumped at the opportunity to
bring a bowling center back Jeff City.
o It wouldn’t surprise many people who grew up with Brad Vandegriffe
to see him owning a bowling alley. After all, his grandfather Herb
Toben (a member of the Missouri Bowling Hall of Fame) ran a very
successful bowling alley in his small town of Owensville for 30+ years
before retiring and working at the alley up into his late 70’s. Back then
Owensville bowl was the place to be and bowling and hanging out was
11
a family business. As a successful leader and consultant, he saw the
opportunity as a sure win for his community and because of other
successful business ventures, knew this was a great opportunity.
o Jeremy Geisler, known for his laid-back attitude, socializing (loves to
talk) and love of sports and family knew that when Mark Gerlach
started talking about this old abandoned bowling alley that he had to
get us all together. As a successful small business owner and
entrepreneur Jeremy brings a unique ability to put all the pieces in the
right places.
o As mentioned above, it was Mark Gerlach who first saw this old
building for what it was…an opportunity to bring bowling back to JC.
Mark wasn’t scared of the tornado damage because well Mark isn’t
scared of anything and he just so happens to be one of the most
respected construction contractors in Central Missouri. Mark saw
what many didn’t…that with just a small amount of vision and a lot of
elbow grease an old dilapidated bowling alley could be transformed
into a truly unique social gathering place for central Missouri to enjoy.
Marks knack for hard work, knowledge of construction, and business
success told him that SG&TA was a winning idea with the right team in
place.
o While forming the team Mark and the rest of the knew exactly who
they wanted playing point guard. A guy who needs no introduction in
the gaming, restaurant, and sports bar business, enter Scot Drinkard.
Scot grew up in the indoor sports arena, working at, running and
eventually owning a pool hall, and multiple successful bars and
restaurants. Not only is he a well-respected businessman in the
12
community, he was the perfect addition to putting together SG&TA
and this awesome entertainment venue.
5 guys, all with different experiences and stories, but all of them
know how to have fun and wanted a place for you to do the same!
That is why SG&TA is the premier social hang out in Central
Missouri and that is why, regardless of if you are looking to bowl,
play pool, watch the game, eat a great meal, throw some darts, play
a little ping-pong, or just go to a place to see and hang out with
others, you have come to the right place!
• Markets and Products: Bowling is a $10 billion dollar industry with over 67
million people in the United States having bowled at least 1 game last year. With
an average HH income of $71,200 and an active lifestyle about 96% bowlers like
other sports activities as well. In the US the bowling industry typically
recommends a population density of 2000 per lane within a 5 mile radius,
however, the radius should be expanded past 5 miles for more rural area’s or
city’s with only one bowling alley; i.e. a 24 lane center should have a population
of 48,000. The Jefferson City metro area is made up of about 149000 people
roughly 80,000 within a 10-mile radius with the city itself having roughly 43000.
Taking a conservative approach of 5000 people per lane and an area population
of 80000 (population within 10 miles of center) we believe SG&TA can support
our 16-lane family entertainment center.
o Prior to Capitol Bowl closing, its previous two years revenues were 1.2
and 1.3 million dollars. That breaks down to a gross revenue of roughly
$52,000 per lane. Based on past history, lack of other facilities, and a
concept that is designed to generate more revenue per bowler and
general inflation over the last several years we believe that we can
increase our per lane revenue by 25% to roughly $65000 per lane, add in
13
additional restaurant revenue, social games revenue, alcohol revenue,
and redemption gaming revenue will generate a gross revenue over
$2,864,000 annually (see appendix a.). We will market league play, family
outings, happy hours, big games, pool tournaments, birthday parties,
work get togethers, family fun nights, teen events, great food, great game
day atmosphere, and just a little more upscale than your avg bowling
alley.
OPERATING PLAN
Responsibilities that will need to be determined:
• Management Team:
• Legal Structure and Ownership: DGVGB LLC
• Sourcing and Order Fulfillment: Scot Drinkard Fulfillment LLC
• Payment: TBD Pending RFP
• Technology: TBD Pending RFP
• Key Customers: This will be a family friendly adult entertainment center
focusing on ages 21 & up, more specifically families and businesses who want
to get together or do team events
14
• Key Employees and Organization:
• Key Messages: Good food and good entertainment equal good fun!
• Marketing Activities:
o Media advertising (newspaper, magazine, television, radio)
o Direct mail
o Telephone solicitation
o Seminars or business conferences
o Joint advertising with other companies
o Word of mouth or fixed signage
o Digital marketing such as social media, email marketing or SEO
o Outside sales rep to coordinate corporate events
CONSTRUCTION COST ESTIMATE
15
Appendix a.
Redemption Gaming Cost and Revenue Projections
Social Grill Tap & Tornado Alley
Purchase Price: Move in ready
Value:
$490,200 $6,600,000
Improvements Estimated Cost
Actual
Cost
Demo $60,000
Roof $377,000
Siding $39,000
Gutters $3,000
Brick & Stonework $25,000
Windows & Doors $15,000
Trash $10,000
Plumbing $150,000
Electrical $350,000
HVAC $150,000
Concrete Polishing $60,000
Paint $35,000
Foam Insulation $50,000
Signs $15,000
Permitting and Architecture $50,000
Tops $10,000
Parking Lot Repair $100,000
Railings $15,000
Security System $30,000
Games, Pool, Ping-Pong, Foosball
etc.…tables
$685,000
Labor $150,000
Restaurant $250,000
Bowling Alleys and Equipment $981,000
All in cost $4,100,200
16
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2
5
0
$
6
,
7
5
0
T
o
t
a
l
G
a
m
e
s
&
S
u
p
p
o
r
t
$
4
2
7
,
5
0
0
S
a
l
e
s
,
A
n
n
u
a
l
$
8
1
9
,
0
0
0
$
5
8
5
,
0
0
0
$
3
5
1
,
0
0
0
F
r
e
i
g
h
t
,
D
e
l
i
v
e
r
y
,
I
n
s
t
a
l
l
a
t
i
o
n
,
m
i
s
c
e
l
l
a
n
y
4
5
,
0
0
0
C
o
s
t
o
f
S
a
l
e
s
$
1
2
2
,
8
5
0
$
8
7
,
7
5
0
$
5
2
,
6
5
0
D
e
b
i
t
C
a
r
d
S
y
s
t
e
m
4
5
,
0
0
0
G
r
o
s
s
M
a
r
g
i
n
$
6
9
6
,
1
5
0
$
4
9
7
,
2
5
0
$
2
9
8
,
3
5
0
R
e
d
e
m
p
t
i
o
n
S
t
a
r
t
U
p
I
n
v
e
n
t
o
r
y
(
S
t
o
r
e
)
1
2
,
5
0
0
S
a
l
e
s
P
a
y
r
o
l
l
$
1
4
2
,
4
0
0
$
1
1
3
,
9
2
0
$
9
9
,
6
8
0
R
e
d
e
m
p
t
i
o
n
S
t
o
r
e
(
u
s
u
a
l
l
y
i
n
c
o
n
s
t
r
u
c
t
i
o
n
b
u
d
g
e
t
)
$
3
5
,
0
0
0
T
e
c
h
P
a
y
r
o
l
l
$
2
0
,
8
0
0
$
1
8
,
7
2
0
$
1
6
,
6
4
0
P
a
r
t
s
-
S
e
r
v
i
c
e
$
8
,
1
9
0
$
5
,
8
5
0
$
3
,
5
1
0
O
t
h
e
r
$
3
2
,
7
6
0
$
2
3
,
4
0
0
$
1
4
,
0
4
0
T
o
t
a
l
$
5
6
5
,
0
0
0
R
e
s
e
r
v
e
f
o
r
N
e
w
G
a
m
e
s
$
4
0
,
9
5
0
$
2
9
,
2
5
0
$
1
7
,
5
5
0
T
o
t
a
l
O
p
E
x
p
e
n
s
e
s
$
2
4
5
,
1
0
0
$
1
9
1
,
1
4
0
$
1
5
1
,
4
2
0
O
p
e
r
a
t
i
n
g
P
r
o
f
i
t
$
4
5
1
,
0
5
0
$
3
0
6
,
1
1
0
$
1
4
6
,
9
3
0
C
a
s
h
O
n
C
a
s
h
P
a
y
b
a
c
k
(
Y
e
a
r
s
)
1
.
2
5
1
.
8
5
3
.
8
5
S
i
m
p
l
e
R
O
I
8
0
%
5
4
%
2
6
%
S
a
l
e
s
P
a
y
r
o
l
l
1
2
0
H
o
u
r
s
w
k
H
r
'
s
+
M
n
g
S
a
l
e
s
H
o
u
r
l
y
W
a
g
e
$
1
0
p
e
r
H
o
u
r
T
e
c
h
P
a
y
r
o
l
l
2
0
H
o
u
r
s
T
e
c
h
H
o
u
r
l
y
W
a
g
e
$
2
0
p
e
r
H
o
u
r
17
Appendix b.
Bowling and overall revenue projections
Y
e
a
r
1
Y
e
a
r
2
Y
e
a
r
3
Y
e
a
r
4
Y
e
a
r
5
N
u
m
b
e
r
o
f
B
o
w
l
i
n
g
L
a
n
e
s
1
6
A
s
s
u
m
p
t
i
o
n
s
:
G
a
m
e
s
p
l
a
y
e
d
p
e
r
y
e
a
r
/
p
e
r
l
a
n
e
(
G
r
o
w
t
h
P
e
r
Y
e
a
r
i
n
Y
e
l
l
o
w
)
0
.
0
5
%
7
,
2
5
0
7
,
2
5
4
7
,
2
5
7
7
,
2
6
1
7
,
2
6
5
T
o
t
a
l
o
f
p
a
i
d
g
a
m
e
s
x
n
u
m
b
e
r
o
f
l
a
n
e
s
1
1
6
,
0
0
0
1
1
6
,
0
5
8
1
1
6
,
1
1
6
1
1
6
,
1
7
4
1
1
6
,
2
3
2
A
v
e
r
a
g
e
p
r
i
c
e
p
e
r
g
a
m
e
(
I
n
c
r
e
a
s
e
P
e
r
Y
e
a
r
i
n
Y
e
l
l
o
w
)
2
.
2
0
%
7
.
0
0
$
7
.
1
5
$
7
.
3
1
$
7
.
4
7
$
7
.
6
4
$
H
o
u
r
l
y
=
3
5
.
0
0
$
S
a
l
e
s
-
G
r
o
s
s
R
e
v
e
n
u
e
B
o
w
l
i
n
g
R
e
v
e
n
u
e
(
i
n
c
l
u
d
i
n
g
p
r
i
v
a
t
e
p
a
r
t
i
e
s
)
8
1
2
,
0
0
0
.
0
0
$
8
3
0
,
2
7
8
.
9
3
$
8
4
8
,
9
6
9
.
3
4
$
8
6
8
,
0
8
0
.
4
9
$
8
8
7
,
6
2
1
.
8
5
$
S
h
o
e
r
e
n
t
a
l
(
P
l
a
c
e
A
m
o
u
n
t
/
P
a
i
r
i
n
Y
e
l
l
o
w
B
o
x
)
3
.
0
0
$
9
7
,
4
4
0
.
0
0
$
9
7
,
4
8
8
.
7
2
$
9
7
,
5
3
7
.
4
6
$
9
7
,
5
8
6
.
2
3
$
9
7
,
6
3
5
.
0
3
$
F
o
o
d
S
a
l
e
s
8
1
2
,
0
0
0
.
0
0
$
8
3
0
,
2
7
8
.
9
3
$
8
4
8
,
9
6
9
.
3
4
$
8
6
8
,
0
8
0
.
4
9
$
8
8
7
,
6
2
1
.
8
5
$
A
l
c
o
h
o
l
i
c
B
e
v
e
r
a
g
e
s
a
l
e
s
(
5
0
%
o
f
F
o
o
d
S
a
l
e
s
)
4
0
6
,
0
0
0
.
0
0
$
4
1
5
,
1
3
9
.
4
7
$
4
2
4
,
4
8
4
.
6
7
$
4
3
4
,
0
4
0
.
2
4
$
4
4
3
,
8
1
0
.
9
2
$
A
m
u
s
e
m
e
n
t
M
a
c
h
i
n
e
s
(
$
2
5
0
/
g
a
m
e
)
4
5
5
8
5
,
0
0
0
.
0
0
$
6
1
4
,
2
5
0
.
0
0
$
6
4
4
,
9
6
2
.
5
0
$
6
7
7
,
2
1
0
.
6
3
$
7
1
1
,
0
7
1
.
1
6
$
V
i
r
t
u
a
l
R
e
a
l
i
t
y
3
%
1
0
0
,
0
0
0
.
0
0
$
1
0
3
,
0
0
0
.
0
0
$
1
0
6
,
0
9
0
.
0
0
$
1
0
9
,
2
7
2
.
7
0
$
1
1
2
,
5
5
0
.
8
8
$
O
t
h
e
r
G
a
m
e
s
3
%
5
2
,
0
0
0
.
0
0
$
5
3
,
5
6
0
.
0
0
$
5
5
,
1
6
6
.
8
0
$
5
6
,
8
2
1
.
8
0
$
5
8
,
5
2
6
.
4
6
$
3
%
-
$
-
$
-
$
-
$
-
$
3
%
-
$
-
$
-
$
-
$
-
$
T
o
t
a
l
Y
e
a
r
l
y
G
r
o
s
s
R
e
v
e
n
u
e
s
2
,
8
6
4
,
4
4
0
.
0
0
$
2
,
9
4
3
,
9
9
6
.
0
5
$
3
,
0
2
6
,
1
8
0
.
1
2
$
3
,
1
1
1
,
0
9
2
.
5
9
$
3
,
1
9
8
,
8
3
8
.
1
5
$
C
o
s
t
o
f
G
o
o
d
s
S
o
l
d
A
m
u
s
e
m
e
n
t
(
@
2
5
%
o
f
s
a
l
e
s
)
1
4
6
,
2
5
0
.
0
0
$
1
5
3
,
5
6
2
.
5
0
$
1
6
1
,
2
4
0
.
6
3
$
1
6
9
,
3
0
2
.
6
6
$
1
7
7
,
7
6
7
.
7
9
$
A
l
c
o
h
o
l
i
c
B
e
v
e
r
a
g
e
s
(
@
3
0
%
o
f
s
a
l
e
s
)
1
2
1
,
8
0
0
.
0
0
$
1
3
6
,
9
9
6
.
0
2
$
1
4
0
,
0
7
9
.
9
4
$
1
4
3
,
2
3
3
.
2
8
$
1
4
6
,
4
5
7
.
6
1
$
F
o
o
d
(
@
3
0
%
o
f
s
a
l
e
s
)
2
4
3
,
6
0
0
.
0
0
$
2
7
3
,
9
9
2
.
0
5
$
2
8
0
,
1
5
9
.
8
8
$
2
8
6
,
4
6
6
.
5
6
$
2
9
2
,
9
1
5
.
2
1
$
G
r
o
s
s
P
r
o
f
i
t
o
n
S
a
l
e
s
2
,
3
5
2
,
7
9
0
.
0
0
$
2
,
3
7
9
,
4
4
5
.
4
8
$
2
,
4
4
4
,
6
9
9
.
6
7
$
2
,
5
1
2
,
0
9
0
.
0
9
$
2
,
5
8
1
,
6
9
7
.
5
4
$
O
p
e
r
a
t
i
n
g
E
x
p
e
n
s
e
s
B
u
i
l
d
i
n
g
/
P
r
o
j
e
c
t
/
R
e
n
t
a
l
E
x
p
e
n
s
e
(
B
u
i
l
t
i
n
O
t
h
e
r
T
a
b
)
3
0
3
,
6
7
1
.
7
0
$
3
0
3
,
6
7
1
.
7
0
$
3
0
3
,
6
7
1
.
7
0
$
3
0
3
,
6
7
1
.
7
0
$
3
0
3
,
6
7
1
.
7
0
$
P
a
y
r
o
l
l
E
x
p
e
n
s
e
(
2
5
%
o
f
T
o
t
a
l
R
e
v
e
n
u
e
)
7
1
6
,
1
1
0
.
0
0
$
7
3
5
,
9
9
9
.
0
1
$
7
5
6
,
5
4
5
.
0
3
$
7
7
7
,
7
7
3
.
1
5
$
7
9
9
,
7
0
9
.
5
4
$
S
u
p
p
l
i
e
s
(
2
.
7
%
o
f
T
o
t
a
l
R
e
v
e
n
u
e
)
7
7
,
3
3
9
.
8
8
$
7
9
,
4
8
7
.
8
9
$
8
1
,
7
0
6
.
8
6
$
8
3
,
9
9
9
.
5
0
$
8
6
,
3
6
8
.
6
3
$
R
e
p
a
i
r
s
&
M
a
i
n
t
e
n
a
n
c
e
(
2
.
7
%
o
f
T
o
t
a
l
R
e
v
e
n
u
e
)
7
7
,
3
3
9
.
8
8
$
7
9
,
4
8
7
.
8
9
$
8
1
,
7
0
6
.
8
6
$
8
3
,
9
9
9
.
5
0
$
8
6
,
3
6
8
.
6
3
$
A
d
v
e
r
t
i
s
i
n
g
&
P
r
o
m
o
t
i
o
n
(
4
.
5
%
o
f
T
o
t
a
l
R
e
v
e
n
u
e
)
1
2
8
,
8
9
9
.
8
0
$
1
3
2
,
4
7
9
.
8
2
$
1
3
6
,
1
7
8
.
1
1
$
1
3
9
,
9
9
9
.
1
7
$
1
4
3
,
9
4
7
.
7
2
$
U
t
i
l
i
t
i
e
s
(
5
.
6
%
o
f
T
o
t
a
l
R
e
v
e
n
u
e
)
1
6
0
,
4
0
8
.
6
4
$
1
6
4
,
8
6
3
.
7
8
$
1
6
9
,
4
6
6
.
0
9
$
1
7
4
,
2
2
1
.
1
8
$
1
7
9
,
1
3
4
.
9
4
$
T
a
x
e
s
&
I
n
s
u
r
a
n
c
e
(
3
.
5
%
o
f
T
o
t
a
l
R
e
v
e
n
u
e
)
1
0
0
,
2
5
5
.
4
0
$
1
0
3
,
0
3
9
.
8
6
$
1
0
5
,
9
1
6
.
3
0
$
1
0
8
,
8
8
8
.
2
4
$
1
1
1
,
9
5
9
.
3
4
$
O
t
h
e
r
E
x
p
e
n
s
e
s
(
5
%
o
f
T
o
t
a
l
R
e
v
e
n
u
e
)
1
4
3
,
2
2
2
.
0
0
$
1
4
7
,
1
9
9
.
8
0
$
1
5
1
,
3
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DEVELOPMENT AGREEMENT
THIS DEVELOPMENT AGREEMENT (this “Agreement”) is made and entered into as of this
______ day of ____________, 2022, by and among the CITY OF JEFFERSON CITY,
MISSOURI, a city of the third class and Missouri municipal corporation located in Cole County
(the “City”); the JEFFERSON REDEVELOPMENT CORPORATION, a Missouri Urban
Redevelopment Corporation having a principal office at 320 E. McCarty St., Jefferson City,
Missouri 65101, (the “Corporation”); and DGVGB, LLC, a Missouri Limited Liability Company.
having a principal office at 2017 Christy Drive, Jefferson City, Missouri 65101 (the “Company”).
Capitalized terms used and not defined herein shall have the meanings ascribed to them in Article
I of this Agreement.
RECITALS
A.The Company is the owner of a certain parcel of real property located in the City known
and numbered as 2017 Christy Drive, Jefferson City, Missouri (the “Property”) and wishes to
redevelop and expand the Property for use as a bowling alley, entertainment facility and family
restaurant which activities are anticipated to result in the creation of thirty (30) new Full-Time and
new permanent part-time jobs at the Property as well as creating a needed entertainment venue; by
the Approving Ordinance, the City Council has found, determined and declared that the Property,
on the whole, is a “blighted area” (as that term is defined and used in Chapter 353) and has
approved the Plan for the redevelopment of the Property.
B.Section 349.012 of the Revised Statutes of Missouri, as amended, authorizes the governing
body of any municipality or county to spend its funds to promote commercial and industrial
development and, in order to achieve such promotion, to engage in any activities which it deems
necessary; sections 70.210 through 70.320 of the Revised Statutes of Missouri, as amended,
authorize municipalities and counties to contract with any private person, firm, association, or
corporation for the planning, development, construction, acquisition, or operation of any public
improvement or facility, or for a common service, provided, that the subject and purposes of any
such contract or cooperative action are within the scope of the powers of such municipality or
county.
C.The City and the Corporation now wish to have the Company undertake, in accordance
with the Plan, the redevelopment of the Property and the implementation of the Project and the
City is willing to expend funds in the form of limited real property tax abatement as hereinafter
provided to induce the completion of and promote the Project, subject to the provision by the
Company of certain guarantees of minimum job creation and retention at the Property; such
activities and undertakings are within the scope of the respective powers of the City and the City
Council has found and determined that these expenditures and undertakings are for a public
purpose.
D.The Approving Ordinance provides for a grant of limited tax abatement for the Property,
subject to satisfaction by the Company, as successor to the Corporation, of certain conditions and
obligations as set forth in this Agreement, and, as a further inducement to the Company to
undertake the Project and to provide or retain at least thirty (30) Full-Time equivalent jobs at the
Exhibit C
2
Development Agreement Project Ten Pin (v.3)
Property and develop and maintain the entertainment venue and the Project in accordance with
this Agreement, the Corporation, utilizing the provisions of Chapter 353, wishes to make available
to the Company the benefits of the grant of limited tax abatement as provided for in the Approving
Ordinance and the Plan, subject to the terms and conditions of this Agreement.
AGREEMENT
NOW, THEREFORE, in consideration of the above premises and the mutual covenants set forth
in this Agreement, the City, the Corporation, and the Company each hereby agree as follows:
ARTICLE 1. - MEANINGS OF TERMS
Section 1.1 Definitions. Except as otherwise defined, as used in this Agreement, the following
words and terms shall have the following meanings:
“Applicable Regulations” shall mean, collectively, all federal, state, and local laws,
statutes, ordinances, rules, regulations, executive orders, and codes including, without limitation,
those of the City and of the County applicable to or affecting the Property or the Project.
“Approving Ordinance” shall mean Ordinance No. ___ of the City adopted and approved
by the City Council on ___________, 2022 approving, among other things, the Plan and a grant
of limited real property tax abatement for the Property.
“Assignment” shall mean the Assignment and Assumption Agreement in substantially the
form of Exhibit A, attached to and incorporated by reference in this Agreement.
“Benefits” shall mean, collectively, the health, dental, vision, life, or other insurance
benefits, and bonus and retirement programs as customarily provided from time to time to full-
time employees of the Company under the Company’s then-current employment policies and
practices.
“Chapter 353” shall mean the Missouri Urban Redevelopment Corporations Law, Chapter
353 of the Revised Statutes of Missouri, as amended.
“City” shall mean the City of Jefferson City, Missouri, a constitutional charter city .
“City Council” shall mean the duly elected and serving governing body of the City.
“Company” shall mean DGVGB, LLC, a Missouri corporation in good standing having
a principal office at 2017 Christy Drive, Jefferson City, Missouri 65101.
3
Development Agreement Project Ten Pin (v.3)
“Corporation” shall mean Jefferson Redevelopment Corporation, an urban
redevelopment corporation duly authorized under Chapter 353 of the Revised Statutes of Missouri,
as amended, and having a principal office at 320 E. McCarty St., Jefferson City Missouri 65101.
“Full-Time Jobs” means Full-Time Equivalent Jobs (FTEs) calculated by taking the total
number of hours worked by all eligible employees during a calendar year divided by 2000;
provided that neither independent contractors, over-the-road truck drivers and haulers, rail and
barge vehicle operators, nor contract personnel utilized or employed by the Company shall
constitute employees for purposes of this Agreement.
“Full-Time Job Requirement” shall mean, for each year of the Project, 30 FTEs.
“Initial Period” shall mean, with respect to the grant of partial real property tax abatement
set forth in Section 3.1(a) of this Agreement, a period of years beginning in the calendar year the
Corporation becomes the owner of the parcels of real property comprising the Property and
extending, subject to the terms of this Agreement, for a period therefrom to December 31, 2032.
“Next Ensuing Period” shall mean, with respect to the grant of partial real property tax
abatement set forth in Section 3.1(b) of this Agreement, a period of years beginning in the calendar
year following the expiration of the Initial Period and extending for a period of fifteen (15) years
with the Next Ensuing Period of fifteen (15) tax years ending on December 31, 2047.
“Plan” shall mean the development plan entitled “Development Plan - Project Ten Pin”
including all portions and exhibits thereto and approved or referenced in the Approving Ordinance.
“Project” shall mean, collectively, the redevelopment and expansion of the facilities on
the Property for use as provided in the Recitals, and the cleanup of the Property.
“Property” shall mean that certain real property comprising approximately 2.06 acres
located in the City known and numbered as 2017 Christy Drive, Jefferson City, Missouri and more
particularly described in Exhibit B, attached to and incorporated by reference in this Agreement.
“Target Job Shortfall Ratio” shall mean the applicable Full-Time Job Requirement
minus the actual number of Full-Time Jobs which, if less than the Full-Time Job Requirement,
shall be divided by the Full-Time Job Requirement (rounded to the nearest 1/100th). For example,
if in a Testing Period for which the Full-Time Job Requirement is 30 it is determined that there are
25 Full-Time Jobs, then the Target Job Shortfall Ratio shall be 0.17 as illustrated by the following
formula:
(30-25)/30 = 0.17.
“Target Jobs” shall mean the average number of Full-Time Jobs at the Property and the
Project during each calendar year, as certified to the City annually by the Company, subject to
verification by the City, all in accordance with ARTICLE 4 of this Agreement.
4
Development Agreement Project Ten Pin (v.3)
“Testing Period” shall mean, as applicable, (a) the calendar year beginning on January 1,
2022, and ending on December 31, 2047, or (b) each full calendar year thereafter ending on
December 31, 2047.
“Third Party Action” shall mean any action, proceeding or demand initiated at any time
by a party other than a named party to this Agreement and directed to the City, the County or the
Corporation, or naming the City, the Corporation or any of their respective officials, officers,
agents, attorneys, employees or representatives as a party and arising out of this Agreement, the
Assignment, the Project, the Approving Ordinance, the Plan, Chapter 353, amounts paid or rebated
by the City or the County to the Company under this Agreement, or any portion(s) of any of the
foregoing or any actions taken pursuant to any of the foregoing.
Section 1.2 Rules of Construction. Words of the masculine gender shall be deemed and
construed to include correlative words of the feminine and neuter genders. Unless the context
shall otherwise indicate, the words importing the singular number shall include the plural and
vice versa, and words importing person shall include firms, associations, and corporations,
including public bodies, as well as natural persons.
Section 1.3 Computation of Time. Wherever this Agreement calls for the performance of any
act by reference to a day or number of days, to a month or number of months or to a year or
number of years, each such computation shall be made based upon calendar days, calendar
months, and calendar years, as applicable unless otherwise expressly provided.
Section 1.4 Recitals; Other Items Incorporated in this Agreement. The recitals contained
in this Agreement are important and material parts of this Agreement and are hereby
acknowledged and incorporated by reference and made a part of this Agreement. The
provisions of Chapter 353 up to and including the date of the Approving Ordinance, the
provisions of the Approving Ordinance, and of the Plan are also hereby incorporated by
reference and made a part of this Agreement.
ARTICLE 2. IMPLEMENTATION OF THE PROJECT
Section 2.1 Acquisition of the Property; Timing of Project. The Company shall convey to
the Corporation by special warranty deed in substantially the form of Exhibit C, attached to
and incorporated by reference in this Agreement, title to all parcels comprising the Property
not later than December 15, 2022. Upon such conveyance, the Corporation by special
warranty deed shall promptly, upon compliance by the Company or designee with requirements
of this Section 2.1, but in no event later than December 31, 2022, re-convey the parcels
comprising the Property to the Company or the Company’s designee. The Company shall
complete the property cleanup and remodeling portions of the Project with respect to such
Property within six (6) months after such transfer to the Company. In the event of failure of
the Corporation to so acquire the parcels comprising the Property within the time limit set forth
in this Section 2.1, the development rights hereunder including, without limitation, the right of
partial tax abatement granted in the Approving Ordinance shall automatically terminate. Any
transferee (including, without limitation, the Company or designee) of the Property wishing to
avail themselves of the partial tax abatement provisions provided for in this Agreement, prior
to any such transfer, as a condition precedent to the continuance of tax abatement, shall agree
5
Development Agreement Project Ten Pin (v.3)
in writing, in substantially the form of the to assume the obligations of the Plan and this
Agreement with respect to the Property.
Section 2.2. Company’s Control over the Project; Delays. Subject to the schedule set forth
in Section 2.1 of this Agreement, the Company shall have complete and exclusive control over the
implementation and timing of the Project and the management and operation of the Project and
the Property, subject to the requirements of this Agreement. Notwithstanding anything to the
contrary contained in this Article II, in the Plan, or in the Approving Ordinance, the time within
which redevelopment activities other than the acquisition and re-conveyance of the Property as set
forth in Section 2.1 of this Agreement, are to commence or be completed will automatically be
extended appropriately as a result of actions or inactions not within the reasonable control of the
Company, including construction delays, delays caused by competent legal authority, strikes,
lockouts, labor disputes, riots, fire or other casualties, tornadoes, acts of God, acts of the public
enemy, accidents, governmental restrictions, unanticipated or unusual site conditions, priorities
regarding acquisition of or use of materials, litigation challenging the rights of the Company, or
delays caused by local, state or federal governments; provided that in the event of such delays, the
Company shall promptly notify the City and the Corporation in writing stating the nature of the
delay which, in the opinion of the Company, justifies the extension.
Section 2.3. Company to Adhere to All Applicable Regulations. To the full extent that any
Applicable Regulation applies to any aspect of occupancy of the Property or the construction of
the Project, the Company covenants and agrees to take all such actions as are necessary to
materially comply with such Applicable Regulation, and the Company, the Property and the
Project shall each be subject to all lawful inspections and the Company shall perform all such
necessary acts as are required by Applicable Regulations.
Section 2.4. Building and Site Maintenance. Upon substantial completion of the Project, the
Company at the Company’s expense shall maintain all buildings and exterior areas at all times in
a good state of repair.
Section 2.5. Breach and Compliance. In the event of non-compliance with the terms of the
Plan or of this Article II, written notice of same may be delivered to the Company by the City or
the Corporation and, if the Company shall not have corrected such substantial non-compliance
within forty-five (45) days after receipt of such notice (unless the time for such correction is further
extended in writing by the City or the Corporation, as applicable), or upon failure of the Company
to complete the redevelopment activities within the time limits set forth in Section 2.1 of this
Agreement as further subject to time extension as provided in Section 2.2 of this Agreement, the
City or the Corporation may jointly or individually institute such proceedings as may be necessary
or desirable in their opinion to cure and remedy such default including, without limitation, the
remedy of specific performance.
ARTICLE 3. PARTIAL TAX ABATEMENT
Section 3.1 Partial Tax Abatement. The rights and obligations of the parties with respect to
the grant of partial real property tax abatement approved in the Approving Ordinance shall be
governed by and in accordance with Chapter 353 and this ARTICLE 3 .
6
Development Agreement Project Ten Pin (v.3)
(a) Initial Period. The parcels of real property comprising the Property as and when
acquired by the Corporation pursuant to Chapter 353 and this Agreement shall not be
subject to assessment or payment of general ad valorem property taxes imposed by the
City or by the State of Missouri or any political subdivision thereof for the Initial
Period, except to such extent and in such amount as may be imposed upon such real
property during such Initial Period measured solely by the amount of the assessed
valuation of the land, exclusive of improvements, acquired pursuant to Chapter 353
and owned by the Corporation, as was determined by the Cole County Assessor for
taxes due and payable thereon during the calendar year preceding the calendar year
during which the Corporation acquired title to such real property. The amounts of such
tax assessments shall not be increased during such Initial Period so long as the real
property is held by the Corporation, or by the Company or any other subsequent
transferee of the Property pursuant to Section 3.2 of this Agreement and used in
accordance with the Plan and this Agreement and any amendments thereto; provided
that in the event the Company fails to complete the Project within the period provided
for in Section 2.1, subject to Section 2.2 of this Agreement, all rights to partial tax
abatement hereunder shall terminate and each parcel of the Property shall be subject to
assessment and payment of all ad valorem taxes based on the true value of the real
property.
(b) Payments in Lieu of Taxes. During the Initial Period the Corporation, or its successor
in interest, shall pay, on or before December 31 of each year, to the Cole County
Collector an amount equal to twenty-five percent (25%) of the amount of the property
tax which would otherwise be due on the property if it were assessed at its actual value.
The Collector will upon receipt redistribute such funds to the other taxing entities pro
rata.
(c) Next Ensuing Period. For the Next Ensuing Period, ad valorem taxes upon each of
the parcels comprising the Property shall be measured by the assessed valuation thereof
as determined by the Cole County Assessor upon the basis of fifty percent (50%) of
the true value of such real property, including both the land and any improvements
thereon, nor shall such valuation be increased above fifty percent (50%) of the true
value of such real property during the Next Ensuing Period so long as such real property
is owned by the Corporation or by the Company or any other subsequent purchaser of
the real property pursuant to Section 3.2 of this Agreement and used in accordance with
the Plan and this Agreement. After expiration of the Initial Period and the Next Ensuing
Period, all as provided for in this ARTICLE 3, each parcel of real property comprising
the Property shall be subject to assessment and payment of all ad valorem taxes based
on the true value of the real property.
Section 3.2 Company’s Right to Transfer Property; Withdrawals. The Company shall
retain the right, subject to the requirements of ARTICLE 2 and ARTICLE 4 of this Agreement,
to assign this Agreement and to sell, assign, transfer, lease, mortgage and convey any part of
or interest in the real property comprising the Property, to any person, corporation, partnership,
public authority, joint venture or other entity, including, without limitation, any affiliate of the
7
Development Agreement Project Ten Pin (v.3)
Company either before or after completion of the Project as provided herein; provided that no
such transfer (including the transfer of any interest in the real property comprising the Property
to the Corporation) shall be deemed to release the Company from the indemnification
requirements set forth in Section 5.1 of this Agreement; and provided, further, that all such
transfers prior to completion of the Project shall be subject to the Plan and the requirements of
this Agreement to complete the Project; and provided further, that all such transfers, before or
after completion of the Project, shall be subject to the land use requirements of the Plan. The
Company may divide interests or estates in the Project or the real property comprising the
Property. After transfer of the real property comprising the Property to the Corporation in
accordance with Article II of this Agreement, any transferee or successor in interest to the
Property, or to any part thereof, including, without limitation, the Company, shall be entitled
to the real property tax relief of section 353.110 of the Revised Statutes of Missouri, as
amended, without further action from the City Council or the City so long as the transferee or
successor in interest prior to such transfer executes and agrees to be bound by the terms of this
Agreement by execution of an Assignment and continues to use, operate, and maintain such
real property for the land uses provided in the Plan. Any purchaser or transferee not executing
such an Assignment shall not be entitled to avail themselves of the partial tax abatement
provisions provided for in this Agreement. If any portion of the Property shall be used for a
purpose different than that described in the Plan, or in the event that the purchaser or transferee
does not desire the Property or any portion thereof to continue under the Plan and this
Agreement, such portion of the Property shall be assessed for ad valorem taxes upon the full
true value of such portion and may be owned and operated free from any of the conditions,
restrictions, or provisions of Chapter 353, the Approving Ordinance and this Agreement, but
the withdrawal of any portion or portions which constitute less than the area comprising the
entire Property shall not constitute a withdrawal of other remaining portions of the Property
from the benefit of Chapter 353 or the Approving Ordinance with respect to the grant of partial
real property tax.
ARTICLE 4. TARGET JOBS
Section 4.1 Target Jobs Required. The parties hereto acknowledge and agree that the
Company anticipates the creation or retention at the Property and the Project in each year of
the Project of the number of Target Jobs set forth as the Full-Time Jobs Requirement in Section
1.1 of this Agreement and of not less than thirty (30) Target Jobs no later than December 31,
2024, and that the creation of such Target Jobs constitutes a material inducement to the City,
the County and the Corporation to enter into this Agreement. Accordingly, the Company
hereby agrees that beginning on January 1, 2023, and in each year thereafter during the term
of this Agreement, in any year the Company fails for any reason to provide the Target Jobs
equal to the Full-Time Job Requirement for the applicable period, not later than December 31st
of the applicable year to make supplemental payments in lieu of taxes in accordance with the
following procedure and schedule:
Section 4.1.1. Certification of Full-Time Jobs. Commencing on January 1, 2023 and
continuing for each month during each Testing Period, the Company shall determine
monthly the number of Full-Time Jobs then existing at the Property and the Project and
8
Development Agreement Project Ten Pin (v.3)
shall certify such number to the City in an annual summary report submitted not later than
the fifteenth day of January of the next succeeding year. The City may verify the
information contained in such report in accordance with ARTICLE 4 of this Agreement,
provided that the City shall complete verification activities, if any, and notify the Company
of the results of such activities on or before the 30th day following the Company’s
submission of the applicable report. If the City provides no such notice on or before such
30th day, the Company’s report shall be deemed accurate as certified for purposes of this
Section 4.1.1.
Section 4.1.2. Calculation of Supplemental Payments In Lieu of Taxes. Promptly, after
receipt of each Full-Time Jobs certification report submitted as provided in Section 4.1.1
of this Agreement, subject to verification as provided in Section 4.3 of this Agreement, the
City shall determine if the number of Target Jobs equals or exceeds the applicable Full-
Time Job Requirement. For any Testing Period in which the number of Target Jobs is less
than the applicable Full-Time Job Requirement, the Company agrees to pay with respect
to such Testing Period not later than April 15th of the calendar year following such Testing
Period additional supplemental payments in lieu of taxes calculated as follows:
the “true value in money” of the real property improvements constituting the
Project and the Property as determined from time to time by the Cole County
Assessor (i) multiplied by 0.32 (ii) divided by $100; (iii) multiplied by the
combined ad valorem levies for all affected taxing jurisdictions; and (iv)
multiplied by the Target Job Shortfall Ratio. By way of illustration, the
applicable calculation formula is set forth below:
“true value in money” x 0.32 ÷ $100 x combined ad valorem levy amount
x Target Jobs Shortfall Ratio
= supplemental payment in lieu of taxes;
provided that, in the event that in any Testing Period the number of Full-Time Jobs equals
or exceeds the Target Jobs, no such calculation shall be performed for such year and no
supplemental payment in lieu of taxes shall be required for such year; and provided further
that in the event of a sustained period of significant decline in the level of aggregate
economic activity within the United States (as distinguished from (a) business or other
decisions within the discretion or control of the Company, or parents, affiliates, assignees,
subsidiaries, or nominees of the Company or (b) other external factors not related to decline
in national economic activity) and only in such event, which results in a substantial
reduction in the number of Full-Time Jobs at the Property and Project during a Testing
Period, the Company may request in a writing specifying and documenting the conditions
which affect or result in the reduction of Full-Time Jobs submitted to the City Council that,
notwithstanding the Company’s failure to meet Target Job requirements during such
Testing Period, that the City waive or reduce the amount of supplemental payments in lieu
of taxes due for such Testing Period and the City Council, upon due consideration and a
finding in its sole discretion that: (i) a sustained period of significant decline in the level of
aggregate national economic activity has occurred; (ii) that such decline has caused a
substantial reduction in the number of Full-Time Jobs at the Property and the Project; and
9
Development Agreement Project Ten Pin (v.3)
(iii) that such reduction is not due to business or other decisions within the discretion or
control of the Company, or of its parents, affiliates, assignees, subsidiaries, or nominees or
other external factors not related to decline in national economic activity, may waive or
reduce such amount of supplemental payments in lieu of taxes due in respect of such
Testing Period.
Section 4.1.3. Covenant to Pay Payments in Lieu of Taxes; Notice and Lien; Default
in Payment; Termination of Tax Exemption. The Company, for itself and its successors
and assigns, hereby covenants and warrants to the City, the County and the Corporation
and each of them that the Company shall make payment promptly upon notice of all
supplemental payments in lieu of taxes as and when due from time to time under this
Agreement. The City, the County, the Company, and the Corporation each agree that, upon
provision of notice to the Company, each supplemental payment in lieu of taxes shall
constitute a lien against the Property, which lien shall be enforceable by the City in the
same manner as provided in section 67.469 of the Revised Statutes of Missouri, as
amended, (or any other means provided by law for the enforcement of liens, as the City
may elect in its sole discretion) and shall remain a lien on the Property and the Project until
paid in full through voluntary payment by the owner of the Property or payment through
collection by the City as provided in this Section 4.1.3. The City shall send written notice
to the Company of any supplemental payment in lieu of taxes amount due as required by
Section 4.2 this Agreement and the amount shall be due and payable within fifteen (15)
days of receipt of said notice; provided that the City shall be entitled to record a Notice of
Lien in the records of the Cole County Recorder of Deeds if a supplemental payment in
lieu of taxes is not paid within thirty (30) days of notice by the City to the Company. In
the event the Company fails to pay any such supplemental payment in lieu of taxes within
one hundred eighty days (180) of notice by the City to the Company, the City, in the City’s
sole and absolute discretion and in addition to any other remedies that may be available to
the City at law or in equity, may adopt an ordinance terminating the grant of exemption
from assessment and payment of ad valorem taxes for the Property and the Project set forth
in Article III of this Agreement. Upon adoption of such ordinance terminating the grant of
exemption from assessment and payment in full of any payments in lieu of taxes or
supplemental payments in lieu of taxes and interest thereon then due and payable under
this Agreement, no party shall have any further obligation to any other party other than as
expressly provided in this Agreement.
Section 4.2 Notice. After determination that a supplemental payment in lieu of taxes is due in
respect of a Testing Period, the City shall notify the Company of the amount of the
supplemental payment in lieu of taxes due within sixty (60) days after receiving the report
certifying Full-Time Jobs from the Company for that Testing Period.
Section 4.3 Cooperation in Verification of Full-Time Jobs. The Company shall use
commercially reasonable efforts to cooperate with the City in promptly making available at the
Property and the Project upon request by the City such employment records and similar
documentation prepared or maintained by the Company, its parent, affiliates, subsidiaries or
nominees which the City may reasonably require to verify the number of Full-Time Jobs in
10
Development Agreement Project Ten Pin (v.3)
any Testing Period in accordance with the terms of Section 4.1.1 of this Agreement; provided
that nothing in this Agreement shall require the Company to disclose confidential or
proprietary information maintained by the Company, its parent, affiliates, subsidiaries or
nominees.
ARTICLE 5. FURTHER OBLIGATIONS OF THE COMPANY; REPRESENTATIONS
Section 5.1 Third Party Actions; Indemnification. The Company shall indemnify, defend
and hold the City, the Corporation, and their respective officials, agents, attorneys, employees
and representatives acting in any capacity harmless from any Third Party Action. The
Company shall have the right, but not the obligation to assume the costs of defense of any
Third Party Action with counsel of the City’s choosing; provided that the Company shall have
the further right to elect to abandon any such defense which the Company has assumed
hereunder and to cancel this Agreement and, if the Company so elects, neither the City, the
County, nor the Corporation shall have any obligation to defend or to assume the costs of
defense of any such action; and provided further that in any such instance, the Company shall
indemnify, defend and hold the City, the County, the Corporation, and the officials, agents,
attorneys, employees and representatives of each of them, all harmless from all such Third
Party Actions. The indemnification obligations of the Company hereunder shall not be
assignable or delegable by the Company without the prior written consent of the City and the
County and shall survive termination of this Agreement for any reason. In no event shall the
City, the County, the Corporation or any official, agent, attorney, employee or representative
of any of them have any liability to the Company or to any parent or affiliate of the Company
for damages or otherwise in the event that all or any part of the Plan, the Approving Ordinance
or any determination therein, the grant of partial real property tax abatement, the provisions
for payment of sales tax amounts set forth in Article V of this Agreement, or this Agreement
or any portion thereof, shall be declared invalid or unconstitutional in whole or in part by a
final (as to which all rights of appeal have been exhausted or expired) judgment of a court of
competent jurisdiction, or as a result of initiation of a Third Party Action, the Company is
prevented from enjoying the rights and privileges of the Company hereunder.
Section 5.2 Invalidation; Cancellation of Agreement. In the event that Chapter 353, the grant
of partial real property tax abatement, or the Approving Ordinance shall be declared invalid in
whole or in part, then and in any such event, this Agreement shall terminate and no party shall
have any further obligation to any other party (whether or not a signatory to this Agreement)
hereunder; provided that notwithstanding the foregoing, the obligation of the Company to
indemnify, defend and hold harmless the City, the County and the Corporation under Section
6.1 of this Agreement hereof shall survive termination or cancellation of this Agreement for
any reason.
Section 5.3 Compliance with Section 285.530 of the Revised Statutes of Missouri.
Contemporaneous with the Company’s execution of this Agreement, the Company shall by
sworn affidavit in substantially the form of Exhibit D, attached to and incorporated by
reference in this Agreement, and provision of documentation, affirm the Company’s
enrollment and participation in a federal work authorization program with respect to the
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employees working in connection with the Project, all as required by section 285.530 of the
Revised Statutes of Missouri, as amended. The Company shall also sign and deliver to the
City an affidavit affirming that the Company does not and will not knowingly employ in
connection with the Project any person who is an unauthorized alien and, if and as required by
section 285.530 of the Revised Statutes of Missouri, as amended, the Company shall obtain
from each contractor and subcontractor employed by or on behalf of the Company in
connection with the Project affidavits affirming that such contractors and subcontractors do
not and will not knowingly employ in connection with the Project any person who is an
unauthorized alien.
Section 5.4 Representations of the Company. The Company hereby represents and warrants
to the City, the County, and the Corporation that:
(a) The Company is a duly organized Missouri limited liability company existing and
in good standing and duly authorized to do business and be subject to service of process in
Missouri;
(b) The execution and delivery of this Agreement by the Company will not conflict
with or result in a breach of any of the terms of, or constitute a default under, any indenture,
mortgage, deed of trust, lease or other agreement or instrument to which the Company or
any parent, affiliate or principal of the Company is a party or by which the Company or
any parent, affiliate or principal of the Company is bound or any applicable articles of
organization, or operating agreement, or any of the rules or regulations of any
governmental authority applicable to the Company or any parent, affiliate or principal of
the Company;
(c) The Company has full corporate power to execute and deliver and perform the
terms and obligations of this Agreement. The Company has been authorized by all
necessary action to execute and deliver this Agreement, which shall constitute the legal,
valid and binding obligation of the Company, enforceable in accordance with its terms,
subject to bankruptcy and other laws affecting creditors’ rights generally and to general
principles of equity;
(d) There are no actions or proceedings by or before any court, governmental
commission, board, bureau, or any other administrative agency pending, threatened, or
affecting the Company that would impair its ability to perform under this Agreement; and
(e) The Company has obtained or will obtain as and when required by Applicable
Regulations, and shall maintain, all government permits, certificates, and consents
(including, without limitation, environmental approvals required by any Applicable
Regulations) necessary to conduct the Company’s business and to construct, complete, and
operate the Project on the Property.
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Section 5.5 Survival of Covenants. All warranties, representations, covenants, and
agreements of the Company contained in this Article VI or elsewhere in this Agreement shall
survive termination of this Agreement for any reason.
ARTICLE 6. MISCELLANEOUS PROVISIONS
Section 6.1 Term of Agreement. This Agreement shall remain in full force and effect so long
as the Corporation, the Company as transferee of any real property in the Property in
accordance with Article II of this Agreement, or any of the Company’s successors or assigns
shall enjoy limited tax relief under Chapter 353 and at the termination of such tax relief, this
Agreement shall terminate and become null and void, provided that the Project has been
completed. The respective rights and privileges given to the Corporation and the Company by
this Agreement and the respective duties and obligations imposed on the Corporation and the
Company shall apply only to the Project and the Property.
Section 6.2 Notice. Whenever notice or other communication is called for in this Agreement
to be given or is otherwise given, such notice or other communication hall be in writing and
shall be personally delivered or sent by registered or certified mail, return receipt requested,
addressed as follows:
If to the City: with a copy to:
City of Jefferson City Lauber Municipal Law
320 E. McCarty 308 E. High, Suite 108
Jefferson City, Missouri 65101 Jefferson City, Missouri 65101
Attn: City Administrator Attn: Nathan M. Nickolaus, Esq.
If to the Corporation:
JEFFERSON REDEVELOPMENT CORPORATION
320 E. McCarty St.
Jefferson City, Missouri 65101
Attn: President
If to the Company:
DGVGB, LLC
Attn: Scot Alan Drinkard
232 East High St.
Jefferson City, Missouri 65101
With copy to:
BANDRE’ HUNT & SNIDER, LLC
Attn: Thomas B. Snider
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227 Madison St.
Jefferson City, Missouri 65101
or to such other persons as the parties may designate in writing from time to time in accordance
with this paragraph and all said notices shall be deemed given upon the deposit in the United States
mail or upon hand delivery.
Section 6.3 Further Assistance. The City, the Corporation, and the Company each agree to
take such actions as may be necessary or appropriate to carry out the terms, provisions and
intent of this Agreement and to aid and assist each other in carrying out said terms, provisions
and intent.
Section 6.4 Severability. The provisions of this Agreement shall be deemed severable. If any
word, phrase, term, sentence, paragraph, or other portion of this Agreement shall, at any time
or to any extent, be invalid or unenforceable, the remainder of this Agreement shall not be
affected by such partial invalidity, and each remaining word, phrase, term, sentence, paragraph
covenant, or other portion of this Agreement shall be valid and be enforced to the fullest extent
permitted by law.
Section 6.5 Headings; Agreement Preparation. The headings and captions of this Agreement
are for convenience and reference only, and in no way define, limit, or describe the scope or
intent of this Agreement of any provision thereof and shall in no way be deemed to explain,
modify, amplify or aid in the interpretation or construction of the provisions of this Agreement.
In any interpretation, construction or determination of the meaning of any provision of this
Agreement, no presumption whatsoever shall arise from the fact that the Agreement was
prepared by or on behalf of any party hereto.
Section 6.6 Choice of Law; Venue. This Agreement and its performance shall be deemed to
have been fully executed, made by the parties in, and governed by and construed in accordance
with the laws of the State of Missouri applicable to contracts made and to be performed wholly
within such state, without regard to choice or conflict of laws provisions. The parties hereto
agree that any action at law, suit in equity, or other judicial proceeding arising out of this
Agreement shall be instituted only in the Circuit Court of Cole County, Missouri or in federal
court of the Western District of Missouri and waive any objection based upon venue or forum
non conveniens or otherwise.
Section 6.7 Entire Agreement; Amendments; No Waiver by Prior Actions. The parties
hereto agree that this Agreement shall constitute the entire agreement among the parties and
no other agreements or representations other than those contained in this Agreement have been
made by the parties. This Agreement shall be amended only in writing and effective when
signed by the duly authorized agents of the parties. The failure of any party hereto to insist in
any one or more cases upon the strict performance of any term, covenant or condition of this
Agreement to be performed or observed by another party shall not constitute a waiver or
relinquishment for the future of any such term, covenant or condition.
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Section 6.8 No Waiver of Sovereign Immunity. Nothing in this Agreement shall be construed
or deemed to constitute a waiver of the City’s or of the County’s sovereign immunity.
Section 6.9 Relationship of the Parties; No Third-Party Beneficiaries. Nothing contained
in this Agreement nor any act of the City, the County, the Corporation or the Company shall
be deemed or construed to create a partnership or agency relationship between or among any
party and this Agreement is and shall be limited to the specific purposes set out herein. Other
than as expressly provided in this Agreement, no party shall be the agent of, or have any rights
to create any obligations or liabilities binding on, another party. The parties do not intend to
confer any benefit under this Agreement on any other person or entity other than the parties
hereto.
Section 6.10 Binding Effect. Except as otherwise expressly provided in this Agreement, the
covenants, conditions, and agreements contained in this Agreement shall bind and inure to the
benefit of the Company, the City, the County, and the Corporation, and their respective
permitted successors and assigns.
Section 6.11 Counterparts. This Agreement may be executed in several counterparts, each of
which shall be an original, but all of which shall constitute one and the same instrument.
IN WITNESS WHEREOF, the parties have set their hands and seals as of the day and year first
written above.
CITY OF JEFFERSON CITY
By:
Carrie Tergin, Mayor
ATTEST:
__________________________
City Clerk
JEFFERSON REDEVELOPMENT
CORPORATION
By:
President
ATTEST:
_________________________
Secretary
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Development Agreement Project Ten Pin (v.3)
DGVGB, LLC
By:
Scott A. Drinkard, Member
ATTEST:
_________________________
Secretary
ACKNOWLEDGEMENTS
STATE OF MISSOURI )
) SS.
COUNTY OF COLE )
On this ____ day of _______________, 2022, before me appeared Jerry Jeffrey, to me personally
known, who being by me duly sworn, did say that he is the Mayor of the CITY OF JEFFERSON
CITY , MISSOURI, a municipal corporation and that the seal affixed to the foregoing instrument
is the official seal of said City, and that said instrument was signed and sealed in behalf of said
City by authority of its City Council and said Mayor acknowledged said instrument to be the free
act and deed of said City.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in the
County and State aforesaid, the day and year first above written.
_______________________________
` Notary Public
My commission expires:
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Development Agreement Project Ten Pin (v.3)
STATE OF MISSOURI )
) SS.
COUNTY OF COLE )
On this ___ day of , 2022 before me appeared Corey Mehaffy, to me
personally known, who being by me duly sworn, did say that he is the President of the
JEFFERSON REDEVELOPMENT CORPORATION, an urban redevelopment corporation duly
authorized and existing pursuant to Chapter 353 of the Revised Statutes of Missouri, as amended,
and that the foregoing instrument was signed in behalf of said corporation by authority of its board
of directors and said officer acknowledged said instrument to be the free act and deed of said
corporation.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal
in the County and State aforesaid, the day and year first above written.
________________________________
Notary Public
My commission expires:
STATE OF _________ )
) SS.
COUNTY OF ____________ )
On this ___ day of , 2022 before me appeared Scot A. Drinkard, to me
personally known, who being by me duly sworn, did say that he is a Member of DGVGB, LLC,
an Missouri limited liability company duly authorized and in good standing, and duly authorized
to do business in Missouri, and that the foregoing instrument was signed in behalf of said limited
liability company by authority of its Members and acknowledged said instrument to be the free act
and deed of said limited liability company.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal
in the County and State aforesaid, the day and year first above written.
________________________________
Notary Public
My commission expires:
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Development Agreement Project Ten Pin (v.3)
EXHIBIT A
ASSIGNMENT AND ASSUMPTION AGREEMENT (Form Only)
THIS ASSIGNMENT AND ASSUMPTION AGREEMENT (this “Agreement”) is made and
entered into as of the _____ day of ______, 20__, by and between the JEFFERSON
REDEVELOPMENT CORPORATION, a Missouri Urban Redevelopment Corporation/DGVGB,
LLC, as successor in interest to the JEFFERSON REDEVELOPMENT CORPORATION
(“Assignor”) and
________________________________________________________________________, a
________________________ (“Assignee”). Capitalized terms not defined herein shall have the
meanings ascribed to them in the “Development Agreement,” as hereinafter defined.
RECITALS
A. Assignor is the “Corporation”/“Company” under a certain Development Agreement dated
as of ______________, 2022 which is incorporated in this Agreement by this reference (the
“Development Agreement”) by and among DGVGB, LLC, JEFFERSON REDEVELOPMENT
CORPORATION, the City of Jefferson City, Missouri (the “City”) and the County of Cole,
Missouri, which provides for the implementation of the Project in furtherance of the Plan and for
the City’s grant of real property tax abatement for the Property pursuant to Chapter 353.
B. The Development Agreement provides that Assignor shall have the right to assign the
Development Agreement and to transfer the Property or any portion thereof acquired by Assignor
pursuant to the Development Agreement and the Plan and that any such transferee or successor in
interest to such property, or any part thereof shall be entitled to the property tax relief provided for
in section 353.110 of the Revised Statutes of Missouri, as amended, without further action by the
City Council or the City so long as such transferee or successor in interest continues to use, operate,
and maintain such property for the uses provided in the Plan and in accordance with the
Development Agreement. The Development Agreement further provides that any such transferee
or successor in interest in the Property shall agree in writing to assume the Company’s obligations
under the Development Agreement with respect to the real property or interest so transferred.
C. Assignor is the transferee of ______________________ pursuant to a certain Warranty
Deed dated as of ____________ 20___ and recorded at Book ___, page ___ in the Office of the
Cole County Recorder of Deeds and wishes to assign and Assignee wishes to assume the
Company’s rights, duties and obligations under the Development Agreement, all pursuant to the
terms and conditions hereinafter set forth.
AGREEMENT
NOW, THEREFORE, in consideration of the premises and the mutual promises and agreements
hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows:
1. Assignor hereby assigns to Assignee all of its right, title, and interest in and to the
Development Agreement with the effect that as of the date hereof, Assignee shall in all respects
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Development Agreement Project Ten Pin (v.3)
stand and serve in the place of Assignor under the Development Agreement including, without
limitation the right to partial real property tax abatement as set forth in the Development
Agreement and approved by the Approving Ordinance and the obligation to make certain payments
in lieu of taxes and to provide and maintain at the Property an d the Project the Target Jobs, and
Assignee hereby accepts such assignment and assumes and agrees to fully and timely perform all
of the remaining obligations and duties of the Company under the Development Agreement.
2. Assignor hereby represents and warrants to Assignee that as of the date of execution of this
Agreement by the parties: (i) Assignor has neither received notice nor has knowledge of any
default in or breach of any term or condition of the Development Agreement and (ii) Assignor has
neither received notice nor has knowledge of any claim or assertion of a claim contesting the
validity or legality of the Plan, the Property, or the ordinances approving the Plan and the
Development Agreement. Subject to the representations and warranties contained in this
paragraph, assignment of the Development Agreement is made hereunder without recourse to
Assignor. Assignor makes no other representation or warranty with respect to the Development
Agreement.
3. This Agreement and its performance shall be deemed to have been fully executed, made
by the parties in, and governed by and construed in accordance with the laws of the State of
Missouri applicable to contracts made and to be performed wholly within such state, without
regard to choice or conflict of laws provisions. The parties hereto agree that any action at law, suit
in equity, or other judicial proceeding arising out of this Agreement shall be instituted only in the
Circuit Court of Cole County, Missouri or in federal court of the Western District of Missouri and
waive any objection based upon venue or forum non conveniens or otherwise.
4. The parties hereto agree that this Agreement shall constitute the entire agreement between
the parties and no other agreements or representations other than those contained in this Agreement
have been made by the parties. This Agreement shall be amended only in writing and effective
when signed by the duly authorized agents of the parties.
5. The provisions of this Agreement shall be deemed severable. If any word, phrase, term,
sentence, paragraph, or other portion of this Agreement shall, at any time or to any extent, be
invalid or unenforceable, the remainder of this Agreement shall not be affected by such partial
invalidity, and each remaining word, phrase, term, sentence, paragraph covenant, or other portion
of this Assignment shall be valid and be enforced to the fullest extent permitted by law.
6. This Agreement may be executed in several counterparts, each of which shall be an
original, but all of which shall constitute one and the same instrument.
[Remainder of page intentionally left blank; signature pages follow]
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Development Agreement Project Ten Pin (v.3)
IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed as of the
day and date first written above.
ASSIGNOR
JEFFERSON REDEVELOPMENT CORPORATION, a Missouri Urban
Redevelopment Corporation
By: ________________________________
Title:
ATTEST:
___________________________
Secretary
ASSIGNEE
By: _________________________________
Title:
ATTEST:
__________________________
STATE OF MISSOURI )
) SS.
COUNTY OF COLE )
On this ____ of , 20___, before me appeared ______________________,
to me personally known, who being, by me duly sworn, did say that he/she is the
_______________ of the JEFFERSON REDEVELOPMENT CORPORATION, a Missouri urban
redevelopment corporation/DGVGB, LLC, an Missouri corporation as successor in interest to
JEFFERSON REDEVELOPMENT CORPORATION, and that the foregoing instrument was
signed in behalf of said corporation by authority of its board of directors and said
_________________ acknowledged said instrument to be the free act and deed of said corporation.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in
the County and State aforesaid, the day and year first above written.
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Development Agreement Project Ten Pin (v.3)
_______________________________
Notary Public
My commission expires:
STATE OF )
) SS.
COUNTY OF ___________ )
On this ___ of , 20__, before me appeared _________________, to me
personally known, who being, by me duly sworn, did say that he/she is the _________________
of ______________________, a _____________________corporation, and that the seal affixed
to the foregoing instrument is the corporate seal of said corporation and that said instrument was
signed and sealed in behalf of said corporation by authority of its board of directors and said
__________________ acknowledged said instrument to be the free act and deed of said
corporation.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in
the County and State aforesaid, the day and year first above written.
______________________________
Notary Public
My commission expires:
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Development Agreement Project Ten Pin (v.3)
EXHIBIT B
PROPERTY LEGAL DESCRIPTION
Part of the South Half of the Northwest Quarter of Section 24, Township 44 North, Range 12
West, in the City of Jefferson, Cole County, Missouri, being more particularly shown and
described as Tract A on survey recorded November 24, 2008 in Survey Record Book B, Page 68,
Cole County Recorder's Office.
EXCEPT that part shown and described as Tract A-1 on survey of record in Survey Record Book
C, Page 43, Cole County Records and conveyed to Riley Brothers LLC in Warranty Deed
recorded in Book 713, Page 812, Cole County Records.
Property Address: 2017 CHRISTY DRIVE, JEFFERSON CITY, MO 65101
Subject to easements, restrictions, reservations, and covenants of record, if any.
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Development Agreement Project Ten Pin (v.3)
EXHIBIT C
FORM OF DEED
EXHIBIT D
FORM OF AFFIDAVIT
STATE OF _______________ )
) SS.
COUNTY OF_____________ )
AFFIDAVIT
I, the undersigned, am over the age of 18 years and have personal knowledge of the matters
stated herein.
I am a duly authorized officer of DGVGB, LLC, a corporation duly organized and existing
in good standing under the laws of the State of Missouri and duly authorized to do business in
Missouri (the “Company”), and am authorized by the Company to attest to the matters set forth in
this Affidavit.
I hereby affirm the Company's enrollment and participation in a “federal work
authorization program” as defined in section 285.525 of the Revised Statutes of Missouri, as
amended, with respect to the employees working in connection with the installation of portions of
the “Project” (as that term is defined and used in that certain Development Agreement dated as of
______________, 2022 by and among the City of Jefferson City, the County of Cole, the
JEFFERSON REDEVELOPMENT CORPORATION and the Company).
The Company does not and will not knowingly employ any person who is an “unauthorized
alien” as defined in section 285.525 of the Revised Statutes of Missouri, as amended, in connection
with the construction and installation of the Project.
Further Affiant Sayeth Not.
_______________________________
By: ___________________________
Printed name: ___________________
Title: __________________________
Subscribed and sworn to before me this _____ day of __________________, 2022.
_____________________________
Notary Public
My commission expires: