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<br />September 7, 2011 JRFT adopted Final Report <br /> <br />October 17, 2011 Final Report of JRTF presented in joint session of both City <br />Councils <br /> <br />November 2011 Olivette and University City Joint Redevelopment Implementation <br />Committee, JRIC, established <br /> <br />February 2012 Armstrong Teasdale LLP approved by City Councils to provide <br />consulting legal services to work with JRIC for an <br />Intergovernmental Agreement <br /> <br />The JRIC was tasked to recommend an Intergovernmental Agreement that would address: <br /> <br /> Economic incentives <br /> <br /> Marketing and promotion <br /> <br /> Revenue-sharing <br /> <br /> Common zoning regulations <br /> Complementary architectural design and side development standards <br /> <br /> Common streetscape standards <br /> <br /> Form-based code or other appropriate zoning mechanisms for regulating <br /> <br />development <br /> Laying ground work for the preparation of a master redevelopment plan <br /> <br /> <br />1. Draft Intergovernmental Cooperation Agreement, ICA <br />A. Creation of Joint Development Commission, JDC <br /> <br /> Needs to be formed within 60 days of the effective date of the ICA <br /> <br /> JDC oversees planning and development of Redevelopment area <br /> <br /> Governed by 10-member board <br /> <br /> Will form an Urban Redevelopment Corporation under Chapter 353 <br />RSMo within 120 days of ICA effective date <br /> <br /> Granted specific powers and authorities <br />B. Establish a Redevelopment Area <br />C. Formation of Transportation Development District, TDD <br /> <br /> University City and Olivette will file a joint petition within 90 days <br />following of JDC and 353 Corp <br /> <br /> Only includes Core Area <br /> <br /> Sales tax of up to 1% and special assessment <br /> <br /> Used for transportation and other public infrastructure projects and <br />public services as specified by JDC within the TDD boundaries <br />D. Additional components to oversee JDC operations <br /> <br /> Marketing and promotion efforts <br /> <br /> Use of consultants <br /> <br /> Establish account for funds generated <br />E. Implementation of other Economic Development incentives <br /> <br /> Tax Increment Financing, TIF <br /> <br /> Special Benefit Districts: Community Improvement District, CID and <br />Neighborhood Improvement District, NID <br /> <br /> Economic Development Sales Tax <br /> <br /> Sales Tax reimbursement agreements <br /> <br />2 <br /> <br /> <br />