Title
A Resolution expressing support for a revised petition for formation of the Oldham Village Transportation Development District in Jackson County Circuit Court.
Body
Issue/Request:
This resolution will approve a revised form of petition to create the transportation development district (TDD) for the Oldham Village project. The Council previously approved a resolution supporting formation of the TDD in January 2025, and this resolution would authorize staff to support a the proposed revised form of TDD petition.
Key Issues:
Approval of a resolution authorizing staff to support the formation of the TDD for the Oldham Village project.
Proposed City Council Motion:
A move for approval of a Resolution expressing support for a revised petition for formation of the Oldham Village Transportation Development District in Jackson County Circuit Court.
Background:
On January 7, 2025, the City Council held public hearings regarding the approval of the incentive package for the Oldham Village project. One of the action items following those hearings was approval of Resolution 25-01, which authorized City staff to take action in circuit to file a TDD petition and support formation of the TDD in court. However, consideration of the TDD petition did not require a City Council public hearing.
Since January 2025, the project has continued to move forward and the developer is proposing certain revisions to the form of TDD petition, as compared to the form that was reviewed and approved by the City Council at the January 7, 2025 Council meeting. The proposed revisions to the TDD petition are:
- Designation of parties - only the City and a single Developer entity will now be the petitioners, which matches the current ownership of property in the project based on the other incentives already being implemented.
- Original petition called for a “sales tax” and now it would be a “sales and use tax.”
- The format of miscellaneous statutory citations are revised.
- Miscellaneous edits to various paragraphs.
- Attorneys have been added to the signature blocks. .
- Exhibit B - The description of the location of improvements has been revised.
- Exhibit C - The estimated TDD reimbursable costs have changed. “Sales tax” changed to “sales and use tax.”
The proposed TDD is for the purpose of imposing a sales tax to fund public transportation improvements for the Oldham Village project. The TDD boundaries do not include any property that is not part of the Oldham Village project. The TDD boundaries are not coterminous with the boundaries of the 291 South Community Improvement District.
Impact/Analysis:
This revised form of petition will not substantially change the nature and scope of the TDD petition. Certain data points and the boundaries of the TDD have been revised, but the purpose and function of the TDD remain the same as reviewed by the City Council and acted upon favorably by the Council in January 2025.
Timeline:
The City and Developer will proceed to promptly file and prosecute the TDD petition, if approved by the City Council.
Start: September 24, 2025 (anticipated court filing date)
Finish: end of 2025
Presenters
David Bushek, Chief Counsel of Economic Development and Planning
Ralph Bellar, Lewis Rice, LLC, attorney for Drake Development