Ordinance 70750

Summary

BOARD BILL #261 INTRODUCED BY ALDERMAN RODDY AN ORDINANCE RECOMMENDED BY THE TAX INCREMENT FINANCING COMMISSION OF THE CITY OF ST. LOUIS TO AMEND THE CITY FOUNDRY SAINT LOUIS REDEVELOPMENT PLAN AND REDEVELOPMENT PROJECT AREAS BY AMENDING THE REDEVELOPMENT PLAN BY: (1) COMBINING REDEVELOPMENT PROJECT AREAS 2 AND 3 INTO A NEW REDEVELOPMENT PROJECT AREA 2; (2) REVISING THE BOUNDARY BETWEEN REDEVELOPMENT AREA 1 AND THE NEW REDEVELOPMENT AREA 2; (3) CHANGING THE USE IN NEW REDEVELOPMENT AREA 2 FROM RESIDENTIAL TO RETAIL AND OFFICE; (4) REVISING THE FINANCING PLAN TO REMOVE TAX ABATEMENT AS AN INCENTIVE IN REDEVELOPMENT AREA 2; AND (5) ACTIVATING THE NEW REDEVELOPMENT AREA 2; ESTABLISHING THE CITY FOUNDRY SAINT LOUIS RPA2 SPECIAL ALLOCATION FUND; MAKING FINDINGS WITH RESPECT THERETO; AUTHORIZING CERTAIN ACTIONS BY CITY OFFICIALS; AND CONTAINING A SEVERABILITY CLAUSE.

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