Ordinances by Topic Local Economy

An ordinance (the “Ordinance”) recommended by the Board of Estimate and Apportionment of the City (the “Board of Estimate and Apportionment”) and the Board of Public Service of The City of St. Louis, Missouri (the “City”) authorizing the St. Louis Municipal Finance Corporation (the “Corporation”), in its discretion, to issue and sell its new bonds (defined herein as “New Revenue Bonds”) supported by payments by the City and with limitations on the amounts due as City payments with respect thereto, in an aggregate principal amount not to exceed $105,000,000

An ordinance approving a Redevelopment Plan for the 2811-15 Locust St. Area ("Area") after finding that the Area is blighted as defined in Section 99.320 of the Revised Statutes of Missouri, 2016, as amended, (the "Statute" being Sections 99.300 to 99.715 inclusive), containing a description of the boundaries of said Area in the City of St. Louis ("City"), attached hereto and incorporated herein as Attachment "A", finding that redevelopment and rehabilitation of the Area is in the interest of the public health, safety, morals and general welfare of the people of the City; approving the Plan dated July 24, 2018, for the Area ("Plan"), incorporated herein by attached Exhibit "B", pursuant to Section 99.430; finding that there is a feasible financial plan for the development of the Area which affords maximum opportunity for development of the Area by private enterprise; finding that no property in the Area may be acquired by the Land Clearance for Redevelopment Authority of the City of St. Louis ("LCRA") through the exercise of eminent domain; finding that the property within the Area is unoccupied, but if it should become occupied the Redeveloper shall be responsible for relocating any eligible occupants displaced as a result of implementation of the Plan; finding that financial aid may be necessary to enable the Area to be redeveloped in accordance with the Plan; finding that there shall be available five (5) year tax abatement based on 90% of the assessed value of the incremental improvements; and pledging cooperation of the Board of Aldermen and requesting various officials, departments, boards and agencies of the City to cooperate and to exercise their respective powers in a manner consistent with the Plan.

An ordinance approving a Redevelopment Plan for the 408 – 410 N. Sarah St. Area ("Area") after finding that the Area is blighted as defined in Section 99.320 of the Revised Statutes of Missouri, 2016, as amended, (the "Statute" being Sections 99.300 to 99.715 inclusive), containing a description of the boundaries of said Area in the City of St. Louis ("City"), attached hereto and incorporated herein as Attachment "A", finding that redevelopment and rehabilitation of the Area is in the interest of the public health, safety, morals and general welfare of the people of the City; approving the Plan dated August 28, 2018, for the Area ("Plan"), incorporated herein by attached Exhibit "B", pursuant to Section 99.430; finding that there is a feasible financial plan for the development of the Area which affords maximum opportunity for development of the Area by private enterprise; finding that no property in the Area may be acquired by the Land Clearance for Redevelopment Authority of the City of St. Louis ("LCRA") through the exercise of eminent domain; finding that the property within the Area is unoccupied, but if it should become occupied the Redeveloper shall be responsible for relocating any eligible occupants displaced as a result of implementation of the Plan; finding that financial aid may be necessary to enable the Area to be redeveloped in accordance with the Plan; finding that there shall be available seven (7) year tax abatement based on 90% of the assessed value of the incremental improvements; and pledging cooperation of the Board of Aldermen and requesting various officials, departments, boards and agencies of the City to cooperate and to exercise their respective powers in a manner consistent with the Plan.

AN ORDINANCE RECOMMENDED BY THE BOARD OF ESTIMATE AND APPORTIONMENT AUTHORIZING THE ISSUANCE AND DELIVERY OF NOT TO EXCEED FIFTY MILLION DOLLARS ($50,000,000) PRINCIPAL AMOUNT OF GENERAL OBLIGATION BONDS, SERIES 2018, OF THE CITY OF ST. LOUIS, MISSOURI, FOR THE PURPOSES OF PAYING THE COSTS OF THE PROJECT (AS DEFINED HEREIN) AND THE COSTS OF ISSUANCE OF SUCH BONDS, ALL FOR THE GENERAL WELFARE, SAFETY, AND BENEFIT OF THE CITIZENS OF THE CITY OF ST. LOUIS, MISSOURI; AUTHORIZING THE PREPARATION, EXECUTION AND DISTRIBUTION OF THE PRELIMINARY OFFICIAL STATEMENT AND THE OFFICIAL STATEMENT, AND THE PREPARATION, EXECUTION AND DELIVERY OF THE BOND PURCHASE AGREEMENT, THE CONTINUING DISCLOSURE AGREEMENT AND THE TAX COMPLIANCE CERTIFICATE, AND OTHER MATTERS WITH RESPECT THERETO; AUTHORIZING THE NEGOTIATION AND PURCHASE OF BOND INSURANCE, IF ANY, AND THE APPROVAL AND EXECUTION OF DOCUMENTS NECESSARY TO COMPLY WITH THE DUTIES OF THE CITY OF ST. LOUIS, MISSOURI UNDER ANY AGREEMENT FOR BOND INSURANCE; PROVIDING FOR THE LEVY AND COLLECTION OF AN ANNUAL TAX FOR THE PURPOSE OF PAYING THE PRINCIPAL OF AND INTEREST ON SUCH BONDS AS THEY BECOME DUE; AUTHORIZING THE TAKING OF OTHER ACTIONS AND APPROVAL AND EXECUTION OF OTHER DOCUMENTS AS NECESSARY AND DESIRABLE TO CARRY OUT AND COMPLY WITH THE INTENT HEREOF; SUPERSEDING PROVISIONS OF PRIOR ORDINANCES OF THE CITY TO THE EXTENT INCONSISTENT WITH THE TERMS HEREOF; CONTAINING A SEVERABILITY CLAUSE; AND CONTAINING AN EMERGENCY CLAUSE.

B.B.#67 – Coatar - An ordinance to terminate and dissolve the Orpheum Theater Community District pursuant to the Community Improvement District Act, Sections 67.1401 – 67.1575 of the Revised Statutes of Missouri.

An Ordinance pertaining to the Transit Sales Tax imposed pursuant to Section 94.660, RSMo., as adopted and approved by the voters of St. Louis City on August 2, 1994, pursuant to Ordinance 63168 creating the “City Public Transit Sales Tax Trust Fund” directing the Treasurer of the City of St. Louis to deposit funds received pursuant to said sales tax into the “City Public Transit Sales Tax Trust Fund – Account ONE” appropriating $11,560,000 from the said sales tax for the period herein stated to the Bi-State Development Agency for certain purposes; providing for the payment of such funds during the period July 1, 2018, through June 30, 2019; further providing that in no event shall the Comptroller draw warrants on the Treasurer for an amount greater than the amounts of the proceeds deposited in the “City Public Transit Sales Tax Trust Fund” during the period of July 1, 2018 through June 30, 2019; and containing a severability clause.

An ordinance directing the St. Louis Development Corporation (SLDC) to complete an annual City Economic Growth Strategy Report (the “Report”) and present the findings of the Report to members of the Board of Aldermen and the Board of Aldermen Financial Analyst.

BOARD BILL #172 INTRODUCED BY ALDERMAN JACK COATAR AN ORDINANCE AFFIRMING ADOPTION OF A DEVELOPMENT PLAN, DEVELOPMENT AREA, AND DEVELOPMENT PROJECT UNDER THE AUTHORITY OF THE MISSOURI DOWNTOWN AND RURAL ECONOMIC STIMULUS ACT, SECTIONS 99.915 TO 99.1060 OF THE REVISED STATUTES OF MISSOURI, AS AMENDED (THE “ACT”); AUTHORIZING AND DIRECTING THE EXECUTION OF A FIRST AMENDMENT TO DEVELOPMENT AGREEMENT BETWEEN THE CITY OF ST. LOUIS AND BALLPARK VILLAGE DEVELOPMENT CORPORATION IN ACCORDANCE WITH THE ACT AND SAID DEVELOPMENT PLAN; PRESCRIBING THE FORM AND DETAILS OF SAID AGREEMENT; MAKING CERTAIN FINDINGS AS REQUIRED BY THE ACT WITH RESPECT TO SAID AGREEMENT; DESIGNATING BALLPARK VILLAGE DEVELOPMENT CORPORATION AS DEVELOPER OF THE DEVELOPMENT AREA IN ACCORDANCE WITH THE ACT; MAKING CERTAIN FINDINGS WITH RESPECT THERETO; AUTHORIZING OTHER RELATED ACTIONS BY CITY OFFICIALS IN CONNECTION WITH THE AGREEMENT AND THE DEVELOPMENT OF CERTAIN PROPERTY WITHIN THE DEVELOPMENT AREA; AND CONTAINING A SEVERABILITY CLAUSE.