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BULLET St. Louis City Ordinance 69297

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Official printed copies of St. Louis City Ordinances may be obtained from the Register's Office at the St. Louis City Hall.


BOARD BILL NO. [12] 51

INTRODUCED BY ALDERMAN SHANE COHN

An ordinance amending Ordinance #64592 approved February 17, 1999, by modifying terms of the real estate tax abatement for the 3952-58 South Grand Avenue in the Gravois/South Grand/Meramec Redevelopment Area authorized by Ordinance #64592.

WHEREAS, Ordinance #64592 approved an amended Redevelopment Plan for the Gravois/South Grand/Meramec Redevelopment Area ('Area") after affirming that the area was blighted as defined in Section 99.320 of the Revised Statutes of Missouri, 2000, as amended (the "Statute" being Sections 99.300 to 99.715 inclusive).

WHEREAS, the second paragraph of Section Fourteen of Ordinance #64592 provides that "if property in the Area is sold by the LCRA to an urban redevelopment corporation formed pursuant to Chapter 353 of the Missouri Statutes, or if any such corporation shall own property within the Area, then for the first ten (10) years after the date the redevelopment corporation shall acquire title to such property, taxes on such property shall be based upon the assessment of land, exclusive of any improvements thereon, during the calendar year preceding the calendar year during which such corporation shall have acquired title to such property. In addition to such taxes, any such corporation shall for the same ten (10) year period make a payment in lieu of taxes to the Collector of Revenue of the City of St. Louis in an amount based upon the assessment on the improvements located on the property during the calendar year preceding the calendar year during which such corporation shall have title of such property. If property shall be tax-exempt because it is owned by the LCRA and leased to any such corporation, then such corporation for the first ten (10) years of such lease shall make payments in lieu of taxes to the Collector of Revenue of the City in an amount based upon the assessment on the property, including land and improvements, during the calendar year preceding the calendar year during which such corporation shall lease such property."

WHEREAS, many properties in the Area have been redeveloped, including the property at 3952-58 South Grand Avenue, but after the completion of 3952-58 South Grand Avenue in 2006, tax abatement was not implemented and it has been determined that in order to properly implement tax abatement it must be based on the 2006 "pre-development" assessed value of the property rather than the assessed value "during the calendar year preceding the calendar year" during which tax abatement is initiated.

NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF ST. LOUIS AS FOLLOWS:

SECTION ONE. The second paragraph of Section Fourteen of Ordinance #64592 is hereby amended to read as follows:

If the property in the area is sold by the LCRA to an urban redevelopment corporation formed pursuant to Chapter 353 of the Missouri Statutes, or if any such corporation shall own property within the Area, then for the first ten (10) years after the date the redevelopment corporation shall acquire title to such property, taxes on such property shall be based upon the assessment of land, exclusive of any improvements thereon, as if January 1, of the preceding year. In addition to such taxes, any such corporation shall for the same ten (10) year period make a payment in lieu of taxes to the Collector of Revenue of the City of St. Louis in an amount based upon the assessment on the improvements located on the property during the calendar year preceding the calendar year during which such corporation shall title of such property except for the parcel of property located at 3952-58 South Grand Avenue, for which the payment in lieu of taxes shall be based on the assessment as of January 1, 2006 provided that improvements made to the fašade of such property shall not include bars on any windows or doors and be approved by the Cultural Resources Office of the City's Planning and Urban Design Agency. If property shall be tax-exempt because it is owned by the LCRA and leased to any such corporation, then such corporation for the first ten (10) years of such lease shall make payments in lieu of taxes to the Collector of Revenue of the City in an amount based upon the assessment on the property, including land and improvements thereon, during the calendar year preceding the calendar year during which such corporation shall title of such property except for the parcel of property located at 3952-58 South Grand Avenue, for which the payment in lieu of taxes shall be based on the assessment as of January 1, 2006.

SECTION TWO. Section F of the attached "Blighting Study and Plan for the Gravois/South Grand/Meramec Redevelopment Area" (the "Plan") approved by Ordinance 64592 is hereby deleted and replace with the following:

SECTION FOURTEEN. The Redeveloper may seek ten (10) year tax abatement pursuant to Sections 99.700-99.715, Revised Statutes of Missouri, 2000, as amended, upon application as provided therein.
In lieu of the ten (10) year abatement outlined above, a Redeveloper which is an urban redevelopment corporation formed pursuant to Chapter 353 of the Missouri Statutes shall hereby be entitled to real property ad valorem tax abatement for a total of up to ten (10) years from the commencement of such tax abatement, in accordance with the following provisions:

If property in the Area is sold by the LCRA to an urban redevelopment corporation formed pursuant to Chapter 353 of the Missouri Statutes, or if any such corporation shall own property within the Area, then for the first ten (10) years after the date the redevelopment corporation shall acquire title to such property, taxes on such property shall be based upon the assessment of land, exclusive of any improvements thereon, as of January 1, of the preceding year. In addition to such taxes, any such corporation shall for the same ten (10) year period make a payment in lieu of taxes to the Collector of Revenue of the City of St. Louis in an amount based upon the assessment on the improvements located on the property during the calendar year preceding the calendar year during which such corporation shall have acquired title to such property except for the parcel of property located at 3952-58 South Grand Avenue, for which the payment in lieu of taxes shall be based on the assessment as of January 1, 2006 provided that improvements made to the fašade of such property shall not include bars on any windows or doors and be approved by the Cultural Resources Office of the City's Planning and Urban Design Agency. If property shall be tax- exempt because it is owned by the LCRA and leased to any such corporation, then such corporation for the first ten (10) years of such lease shall make payments in lieu of taxes to the Collector of Revenue of the City in an amount based upon the assessment on the property, including land and improvements, during the calendar year preceding the calendar year during which such corporation shall lease such property except for the parcel of property located at 3952-58 South Grand Avenue, for which the payment in lieu of taxes shall be based on the assessment as of January 1, 2006..
All payments in lieu of taxes shall be a lien upon the property and, when paid to the Collector of Revenue of the City shall be distributed as all other property taxes. These partial tax relief and payment in lieu of taxes provisions, during up to said ten (10) year period, shall inure to the benefit of all successors in interest in the property of the redevelopment corporations, so long as such successors shall continue to use such property as provided in this Plan and in any contract with the LCRA. In no event shall such benefits extend beyond ten (10) years after the redevelopment corporation shall have acquired title to the property.

SECTION THREE. All other sections of Ordinance #64592 and all other sections of the Plan shall remain the same as approved on February 17, 1999.

Legislative History
1ST READING REF TO COMM COMMITTEE COMM SUB COMM AMEND
10/17/2012
2ND READING FLOOR AMEND FLOOR SUB PERFECTN PASSAGE
ORDINANCE VETOED VETO OVR SIGNED BY MAYOR
69297

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