Loop Area Retail and Development Strategy Action Plan

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signed by property owners that (1) Governance collectively own at least 50% of the assessed value of the real property within To successfully implement the recommended the proposed district and (2) represent more strategy, a new governing entity should be than 50% per capita of all owners of real created with greater capacity, including the property within the proposed district. ability to coordinate retail recruitment and oversee clean & safe programming, among other functions. Non-Profit Entity Structure The Special Business Districts (SBD) should become Community Improvement Districts CIDCID (CID) under the Missouri Community Improvement District Act. Doing so will allow for increased its revenue as CID assessments Functions are uncapped. For the entity to execute the strategy, a To manage the two CIDs, a corporate entity number of functions are required. These should be established that would execute the initiatives will drive the future growth of the necessary functions in the CID area. All area directly, through recruitment of new management, administration, and execution businesses and facilitation of new of functions for the area should be carried development, as well as indirectly, through out through this non-profit entity, likely a measures that ensure that The Loop Area 501(c)(3) corporation. The CIDs should serve remains a place that both people and as the source of assessment funds and would businesses view as an attractive destination. authorize the non-profit entity to expend funds on their behalf through independent Clean & Safe. The entity should hire boards that meet at least annually. personnel or contract with service providers to clean streets and sidewalks, in addition to In addition to serving as the managing entity placing additional garbage receptacles and for the two CIDs, the non-profit entity can recycling bins throughout the area. also be designated as a Chapter 353 Urban Redevelopment Corporation, which would Contracted security personnel, working with provide it with power to initiate local law enforcement, should maintain a redevelopment projects and grant tax visible and active presence in The Loop abatements. The new non-profit could also Area, especially on nights and weekends. employ increment financing mechanisms as a means to support redevelopment. Marketing & Events. The entity should continue to market The Loop Area and plan To establish a CID, the applying entity must events, as it has done previously. Events submit a five-year business plan to the host should focus on activating the East Loop. municipality, along with a petition of support 19 DLARP&DS ELMAR OOP REA ETAIL LAN EVELOPMENT TRATEGY