Title
City Support for Amendments to the Missouri Community Improvement District (CID) Act Regarding Location of CID-Funded Public Improvements
Body
Issue/Request:
This items seeks Committee support for City staff to pursue amendments to the Missouri CID Act to authorize CID funding for public improvements outside the boundaries of a CID if the public improvements have a direct and substantial benefit to the properties in the CID area.
Key Issues:
The CID Act prohibits a CID from funding public improvements outside the boundaries of a CID. This creates problems with achieving a validly signed CID petition in many cases, and can cause developers to take extraordinary and artificial steps to meet the petition signing requirements. This can also cause jurisdictional issues which require extraordinary measures to solve.
Proposed City Council Motion:
I move that the Committee direct staff to work with the City’s lobbyist and pursue the proposed amendments to the CID Act.
Background:
The Missouri Community Improvement District Act (CID Act) contains the restriction that all public improvements funded by a CID must be physically located within the geographic boundaries of the CID. This has caused numerous problems for CIDs throughout the state for the following reasons:
1. It creates problems with achieving a validly signed CID petition.
2. It can create jurisdictional problems which require extraordinary measures to solve.
The attached memorandum from the Law Department explains the concerns in more detail. This statutory restriction causes unique problems for the Paragon Star project in particular, and a change in the state statute would address the problem and allo more funds from the transportation development district to be spent on debt retirement.
Impact/Analysis:
The proposed CID Act amendments present no financial or other impacts for the City. The proposed amendments would address the concerns for all CIDs in the City and also throughout the s...
Click here for full text