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HomeMy WebLinkAbout1995-064 - Creation of the TIFCORDINANCE NO. ~~f~~" AN ORDINANCE CREATING A COMMISSION TO BE KNOWN AS THE TA% INCREMENT FINANCING COMMISSION OF RIVERSIDE, MISSOURI; AUTHORIZING THE TRANSACTION OF BUSINESS AND THE E%ERCISING OF POWERS; PROVIDING FOR THE TERMS OF COMMISSION MEMBERS, AND CONSENTING TO THE APPOINTMENT OF THE INITIAL MEMBERS PURSUANT TO SECTIONS 99.800 TO 99.865, INCLUSIVE, OF THE REVISED STATUTES OF MISSOURI, KNOWN AS THE REAL PROPERTY TAX INCREMENT ALLOCATION REDEVELOPMENT ACT. WHEREAS, Riverside, Missouri (the "City") is a City of the fourth class and a political subdivision of the State of Missouri, duly created, organized and existing under the Constitution and the laws of the State of Missouri; WHEREAS, the General Assembly in House Bills Nos. 1411 and 1587 enacted the Real Property Tax Increment Allocation Redevelopment Act (the "Act"), which Act is now effective as amended; WHEREAS, Section 99.820.2 of the Act requires the governing body of the City to create a Tax Increment Financing Commission of nine (9) persons to be appointed in such manner and to serve such terms as provided by the Act prior to the adoption of an ordinance approving the designation of a redevelopment area, plan or project under the Act; and WHEREAS, the City desires to create a commission pursuant to the Act and desires to authorize the exercise of powers under the Act; NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN (the "Board") OF THE CITY OF RIVERSIDE, MISSOURI: Section 1. There is created pursuant to Section 99.820.2 of the Act a commission to be known as the "Tax Increment Financing Commission of Riverside, Missouri" (the "Commission"). The Commission shall have continuous existence unless and until terminated by the adoption of an ordinance of the Board terminating it. Section 2. The Commission shall be composed of nine members to be appointed as follows: (A) Six members shall be appointed by the Mayor of the City, with the consent of the Board. (B) Within thirty (30) days after the receipt of notice of a proposed redevelopment area, redevelopment plan or redevelopment project required by Section 99.830 of the Act, two members shall be appointed by the school boards, whose districts are included within such redevelopment plan or redevelopment area. The manner of selection of the members is left to the discretion of the affected districts. (C) Within thirty (30) days after receipt of the mailed notice required by Section 99.830 of the Act, notice of a proposed redevelopment area, redevelopment plan or redevelopment project, one member shall be appointed, in any manner agreed upon by the affected districts, to represent all other districts levying ad valorem taxes (excluding the representatives of the Board) within the area selected for a redevelopment plan or redevelopment area. Section 3. The terms of the members shall be as follows: (A) With regard to the term of the first six (6) members appointed by the Mayor with the consent of the Board: (1) two shall be designated to serve for terms of two years; (2) two shall be designated to serve for terms of three years; and (3) two shall be designated to serve for terms of four years. Thereafter, members appointed by the Mayor with the consent of the Board shall serve for a term of four years. all vacancies shall be filled for the unexpired terms in the same manner as were the original appointments. (B) The members who are appointed by the school board and other taxing districts shall serve on the Commission for a term which coincides with the length of time such redevelopment project, redevelopment plan or the designation of the redevelopment area for which they were appointed is being considered for approval by the Commission. Such term will terminate upon final approval of such redevelopment project, redevelopment plan or designation of the redevelopment area by the Board. Section 4. Those Commission members who are appointed by the school boards or other taxing districts shall only be authorized to vote on matters specifically and directly relating to the redevelopment plan, redevelopment project or redevelopment area upon which their affected taxing districts levy ad valorem taxes. Section 5. The Commission, upon the effective date of this ordinance, shall organize itself and elect from its number a chairman, vice chairman, treasurer and secretary, each to serve for one year terms or until their successors are elected. 2 Section 6. The Commission shall meet regularly and shall adopt such rules and regulations for operation as shall enable it to maintain an orderly procedure for its business and to effectively and efficiently exercise the powers authorized by the statute and delegated to it by the Board. Section 7. The Commission shall keep records and minutes of its meetings and shall report annually to the Board with regard to its activities. Passed by he Board of the City of Riverside, Missouri this ,~~~ day o f ~%~r~{J, ij,~~z-tom 19 9 5 . Betty Burch"'Mayor A~~S T : l_../I / ~ ~: ~' i /~ ~f%frL~~~~~C1 Grace Keme -g, City C1~rk (~ APPROVED AS TO FORM: Donald A. Witt, City Attorney 3