HomeMy Public PortalAboutORD14296 SUBSTITUTE
• BILL NO. 2007-124
SPONSORED BY COUNCILMAN Ron Medin
ORDINANCE NO. 8 6
AN ORDINANCE OF THE CITY OF JEFFERSON, MISSOURI, RE-ENACTING THE
"JEFFERSON CITY NEIGHBORHOOD REINVESTMENT ACT, PART I", AND
AUTHORIZING A SUPPLEMENTAL APPROPRIATION WITHIN THE GENERAL FUND.
BE IT ENACTED BY THE COUNCIL OF THE CITY OF JEFFERSON, MISSOURI, A
FOLLOWS:
Section 1. Title and Purpose
a. The title of this ordinance shall be "Part One of the City of Jefferson
City Neighborhood Reinvestment Act."
b. Its primary purpose is to improve existing neighborhoods in greatest
• need within the City of Jefferson, by encouraging owner occupation
of homes which have been vacant for a year or more, or which have
been used for purposes other than single family owner occupied
residences. The Act's other purposes include: increasing the value
of properties eligible to participate in the programs offered by this
ordinance, increasing the value of other properties in the
neighborhoods where participating properties are located; improving
the residential real estate market within the City of Jefferson; and
providing housing opportunities for young families, retired citizens and
people of modest means.
Section 2. Definitions.
a. The term "Eligible Real Estate" as used in this ordinance shall be defined to
mean real estate situated entirely within the corporate limits of the City and
which meets all of the following qualifications:
i. The residential structure is located on the real property built before
December 31, 1950;
ii. The real property was purchased from a third party in a good faith,
• arms-length transaction after December 31, 2006;
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. iii. The residential structure on the real property is occupied by the owner
as theowner's primary residence after December 31, 2006 and the
owner makes application for any reimbursement authorized under this
ordinance within thirty (30) calendar days following the end of the
calendar year during which the property was purchased;
iv. The residential structure on the real property is occupied by no more
than "a single family" as that term is defined in Chapter 35 of the City
Code;
V. The residential structure on the real property has either been vacant,
or used for some other purpose other than an exclusively owner-
occupied single family residence during the twelve months preceding
the date of purchase;
vi. The real property including the residential structure has a fair market
value of $50,000.00 or more at the time of purchase.
b. The term"Eligible Real Estate Taxes", as used in this ordinance, shall mean
all property tax paid on real property for a parcel of Eligible Real Estate,
imposed or collected by the City of Jefferson, Cole County, Jefferson City
• Public Schools, or any other taxing authority but shall not include taxes which
became delinquent before being paid.
Section 3. Upon receipt of a property application and certification by the Director of
Finance of eligibility,the Director of Finance shall pay the owner of a parcel of Eligible Real
Estate an amount equal to all Eligible Real Estate Taxes paid by the owner on such Eligible
Real Estate for the previous tax year.
a. The Director of Finance shall establish procedures for certifying properties
eligible for tax reimbursement under this Section, including procedures for
establishing the period of vacancy or prior use of any property being
considered for participation in programs under this Act.
b. The Director of Finance may conditionally certify properties eligible for tax
reimbursement under this Section in advance of a prospective owner
purchasing the property.
C. The owner(s) may receive reimbursement for no more than five (5)tax years
and no more than Two Thousand and no/100 dollars($2,000.00)for any one
tax year.
• Section 4. Dates relevant to this ordinance.
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a. The effective date of this ordinance shall be the date it is passed;
b. The real estate tax reimbursement authorized by this ordinance shall apply
with respect to Eligible Real Estate Taxes assessed in years 2007 and
thereafter;
C. The first year an owner may be eligible for real estate tax reimbursement
authorized by this ordinance shall be either the year in which the owner
purchases and occupies the property as the owner's primary residence, or
the following year, at the owner's election;
d. For purposes of this ordinance, real estate shall be deemed to have been
purchased on the date title was conveyed to the buyer from the seller; and
e. This ordinance shall apply only to property purchased after December 31,
2006.
Section 5. Conditions of eligibility.
• a. An owner may be an individual holding title as sole owner, a joint tenancy,
tenancy by the entireties,tenants in common, or a trust, provided the primary
beneficiaries of the trust and all members of other forms of tenancy or
ownership occupy the property as a primary residence;
b. Evidence of an owner's primary residence shall be established as the
residence shown on an individual's federal tax return;
C. An owner must continue to occupy the property for the full five years during
which the taxes are abated, unless one or more owners occupying the
property shall die or become confined to a long-term residential health care
facility before the end of the five year period;
d. The maximum annual tax reimbursement to which any owner shall be
entitled is $2,000.00
e. No more than ten (10) parcels of real estate shall be accepted and certified
during any one calendar year Eligible Real Estate.
Section 6. Recapture.
• As a further condition to participating in the program authorized by this ordinance,
the owner of real estate shall agree to permit the City to recapture the full amount
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of any tax reimbursements made under this ordinance if the owner ceases
occupying the property as the owner's primary residence within five years of the
date when the owner first becomes eligible to participate in the program. The owner
shall further agree to permit the City to assert the full amount of the reimburses
taxes as a lien on the real estate.
Section 7. There is hereby supplementaily appropriated within the General
Fund, Eight Thousand and no/100 Dollars ($8,000.00) in the Neighborhood
Reinvestment Act line item 1000-1800-2600-0000.
Section -78. This ordinance shall be in full force and effect from and after the date
of its passage and approval. ! �'
Passed:
0-ez, l 7, o��� Approved: � 1,k �D v "7
Pre ' in Officer Mayor
• ATT ST: APP ED S TO FORM:.
Ci Clerk City Counselor
CERTIFICATION BY MAYOR
Pursuant to Article VII, Section 7.1(5.) Of the Charter of the City of Jefferson,
Missouri, I hereby certify tha!jhe sums appropriated in the ordinance are available
in the various funds to t the r q fements of this bill.
Mayor