2007-09-04 Agenda - Laserfiche WebLink

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the District proceeds as provided for in the Petition hereto will serve a public purpose by remediating blight and encouraging the redevelopment of real property within the District. Section Eight . The City of University City has declared the District Property to be a “blighted area” under Chapter 353 of the Revised Statutes of J-4-i Missouri (Ordinance No. ________), which was approved on ______________, and has approved a plan submitted by the Cates Avenue Redevelopment Corporation for the redevelopment of the area. Section Nine . Within one hundred twenty (120) days after the end of each fiscal year, the District shall submit a report to the Clerk of the City and the Missouri Department of Economic Development stating the services provided, revenues collected and expenditures made by the District during such fiscal year, and copies of written resolutions approved by the board of the District during the fiscal year. The Clerk shall retain this report as part of the official records of the City and shall also cause this report to be spread upon the records of the City Council, pursuant to Section 67.1471 of the CID Act. Section Ten . The term for the existence of the District shall begin on the date this Ordinance becomes effective and shall continue for the term set forth in the Petition, as may be amended from time to time. Section Eleven . Pursuant to the CID Act, the City Council shall not decrease the level of publicly funded services in the District existing prior to the creation of the District or transfer the burden of providing the services to the District unless the services at the same time are decreased throughout the City, nor shall the City Council discriminate in the provision of the publicly funded services between areas included in the District and areas not so included. Section Twelve . The Clerk shall report in writing the creation of the Cates Avenue Community Improvement District to the Missouri Department of Economic Development. Section Thirteen . The Petition provides that the District shall be governed by a Board of Directors consisting of five individual directors (collectively the September 4, 2007