Title
Public Hearing: Tax Increment Financing Five (5) Year Update
Body
Issue/Request:
Public Hearing: Tax Increment Financing Five (5) Year Update
Key Issues:
Missouri State Statute Section 99.865 requires a public hearing be conducted to review the progress of active Tax Increment Financing (TIF) plans for the purpose of the redevelopment projects making satisfactory progress under the proposed time scheduled contained within the approved plans for completion of the projects. This public hearing is being held to comply with the state statute as well as update the City Council on TIF activities and projects.
Proposed City Council Motion:
No motion necessary - informational public hearing
Background:
Notification of the public hearing has been provided in a newspaper of general circulation once each week for the previous four weeks in accordance with state statute. Notification has also been provided to the Missouri Department of Revenue in accordance with State Statute. Notification was published in The Pulse on 4/27, 5/4, 5/11 and is scheduled to be published on 5/18. Notification was also published in the Lee's Summit Tribune on 4/27, 5/4, 5/11 and is scheduled to be published on 5/18.
The following active projects are a part of the hearing:
|
2nd & Douglas TIF |
Longview Farm TIF |
|
291N & Highway 50 TIF |
New Longview TIF |
|
Discovery Park TIF |
Ritter Plaza TIF |
|
East 50 Highway Corridor TIF |
Streets of West Pryor TIF |
|
I470 & View High TIF |
Summit Fair TIF |
|
|
Village at View High |
The previous 5-Year Public Hearing was held on February 5, 2018.
Presenter
Ryan A. Elam, P.E., Assistant City Manager
David Bushek, Chief Counsel of Economic Development and Planning