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HomeMy WebLinkAbout2011-011 IDA Resolution Establish Horizons Community Improvement District IDA RESOLUTION NO. 2011-011 A RESOLUTION APPROVING AND AUTHORIZING EXECUTION AND FILING OF A PETITION TO ESTABLISH THE HORIZONS COMMUNITY IMPROVEMENT DISTRICT WHEREAS, The Industrial Development Authority of the City of Riverside, Missouri desires to create a community improvement district on property owned by the Authority within the Horizons Development Area; NOW THEREFORE, BE IT RESOLVED BY THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI, AS FOLLOWS: THAT the Petition to Establish the Horizons Community Improvement District in substantially the same form as attached hereto as Exhibit "A" is hereby approved; FURHTER THAT, the President is hereby authorized to execute, deliver and file with the appropriate authorities the Petition to Establish the Horizons Community Improvement District on behalf of The Industrial Development Authority of the City of Riverside, Missouri, with such changes as are approved by the officer executing such document, such execution being conclusive proof of such approval, and the Assistant Secretary is authorized to attest thereto; FURTHER THAT the President and Assistant Secretary are hereby authorized to execute such additional documents and take such actions as are necessary or desirable to effectuate the intent of this Resolution; PASSED AND ADOPTED by the Industrial Development Authority and APPROVED by the President of thq Industrial Development Authority of the City of Riverside, Missouri, the ,')'k day of 2011. Pamela J. Darat President ATTEST: Sarah Wagner, Assi nt ecretary Approved as to Form: Nancy Thompson, City Attorney 1 FAndustrial Development AuthontyWeeting 12122011 MDA Reso 2011-011 -Horizons CID Petition Approval.docx BEFORE THE BOARD OF ALDERMEN OF THE CITY OF RIVERSIDE,MISSOURI IN THE MATTER OF: ) HORIZONS COMMUNITY IMPROVEMENT ) DISTRICT ) PETITION TO ESTABLISH THE HORIZONS COMMUNITY IMPROVEMENT DISTRICT TO: MS. CLERK OF THE CITY OF RIVERSIDE,MISSOURI This petition ("Petition") is submitted pursuant to the Community Improvement District Act, Sections 67.1401 to 67.1571 of the Revised Statutes of Missouri (the "Act'), by the property owners, or their authorized representative, whose signature appears below (the "Petitioners") to establish the South 63 Corridor Community Improvement District (the "District') in the City of Riverside, Missouri (the "City"). I. Description Of The District A. Legal Description 1. The District includes all of the real property within the area legally described on Exhibit A,attached to and incorporated by reference in this Petition. B. Boundary Map 1. A map illustrating the boundaries of the District is attached as Exhibit B, attached to and incorporated by reference in this Petition. C. Petitioners 1. Petitioners represent: (1) more than fifty percent (50%) per capita of all owners of real property within the boundaries of the District; and (2) property owners collectively owning parcels representing more than fifty percent (50%) of the total assessed value of real property within the boundaries of the District. II. Five Year Service Plan A. Purposes of the District 1. The District will fund public improvements, provide services, impose a sales tax, incur obligations,and fund its administration. Petition to Establish Horizons Community Improvement WA 3176863.1 District B. District Improvements 1. The District may construct, or cause to be constructed, storm water management and related infrastructure improvements within the District and for the benefit of the District, as authorized pursuant to the Act. C. Services 1. The District may provide for the upkeep and maintenance of the District's storm water management improvements, as funds are available and as authorized pursuant to the Act. D. Administrative Activities 1. The District will provide for the District administrative activities including but not limited to accounting, and legal services as well as providing insurance all for the benefit of the District, as the Board deems necessary or desirable, and as authorized pursuant to the Act. E. Estimated Costs and Budget 1. The estimated costs of administration, services and district improvements to be incurred by the District, during its first five years, and the District's five-year budget are shown on Exhibit C to this petition. 2. In addition to the estimated costs shown in Exhibit C, the District may, by resolution, reimburse any party or parties for costs incurred prior to formation of the District in furtherance of formation of the District or in furtherance of any District purposes or services. F. Plan of Finance 1. The District may issue bonds or other obligations ("Obligations") to finance the costs of the District Improvements, other costs to be incurred by the District for the benefit of the District, costs of issuance, capitalized interest, and debt service reserve fund(s). 2. The District may finance the costs of the Services and Administrative Activities on a pay as you go basis to the extent revenue is available. G. Revenue Measures 1. Sales Tax. Pursuant to § 67.1545 of the Act, the District shall have the power and authority, upon approval by the qualified voters, to impose a sales tax at a rate not to exceed one(1)percent as may be approved by the qualified voters. 2. Property Tax. The District shall the power and authority to submit to the qualified voters of the District for approval or to impose a property tax. 3. Special Assessments. The District shall have the power to impose special assessments. Petition to Establish 2 Horizons Community Improvement WA 3176863.1 District 4. Business License Taxes. The District shall have the power and authority to submit to the qualified voters of the District for approval or to impose a business license tax. 5. Other Tax/Assessment Measures. The District shall have the power and authority to impose any tax, license or assessment allowable under the Act. M. Governance of District A. Type of District 1. The District shall be a separate political subdivision governed by a board of directors (the "Board of Directors") appointed by the Mayor of the City with the consent of a majority of the Board of Aldermen of the City in accordance with §67.1451.5 of the Act. The District shall have all of the powers granted to and/or exercisable by a community improvement district pursuant to the Act, except as otherwise expressly limited by this Petition. B. Board of Directors 1. Number a. The District shall be governed by a Board of Directors consisting of five (5)directors. 2. Qualifications a. Each Director, during his or her term, shall meet the following requirements: (i) be at least 18 years of age;and (ii) either be (i) a fee owner of real property within the District or a legally authorized representative thereof(an "Owner"); or (ii) an owner or legally authorized representative of a business organization or other entity operating within the District (an "Operator"); or a registered voter residing within the District (a "Resident")as provided in the Act; and (iii) be a citizen of the State of Missouri for not less than one year prior to taking office. 3. Initial Board Members and Terms The initial directors constituting the board of directors and the term of each initial director will be as follows: a. for a term of four years; b. for a term of four years; Petition to Establish 3 Horizons Community Improvement WA 3176863.1 District C. for a term of two years; d. for a term of two years; e. for a term of two years; or until their respective successors are selected in accordance with the Act. 4. Terms; Successor Directors The initial Directors shall serve for the terms set out opposite their names set forth above in this Petition or until their successors are appointed in accordance with the Act and this Petition. Their successors shall be appointed to serve four- year terms. In the event of a vacancy on the Board of Directors, the remaining directors shall elect an interim Director to fill the vacancy for the unexpired term in accordance with the Act and this Petition. All successor Directors and any interim Director shall meet the qualifications of Section III.B.2 of this Petition and of§67.1451.2 of the Act. IV. Assessed value A. The total assessed value of all of the real property within the District is V. Blight Determination A. The Petitioners are seeking a determination that the District, or any legally described portion thereof, is a blighted area. A blight study is attached as Exhibit D. VI. Life of District A. The District shall exist for twenty five(25)years. VII. Request to Establish District A. By execution and submission of this Petition, the Petitioners request that the Board of Aldermen hold a public hearing in accordance with §67.1421 of the Act and adopt an ordinance to establish the District as set out in this Petition and in accordance with the Act and this Petition. VIII. Notice to Petitioner A. The signature of Petitioners signing this Petition may not be withdrawn later than seven (7)days after this Petition is filed with the Clerk of the City. IX. Severability; Conflicts A. If any provision of this Petition shall be held or determined to be invalid, inoperative or unenforceable as applied in any particular case, or in all cases, because it conflicts Petition to Establish 4 Horizons Community Improvement WA 3176863.1 District with any other provision or provisions of this Petition or for any other reason, such circumstances shall not have the effect of rendering the provision in question inoperative or unenforceable in any other case or circumstance, or of rendering any other provision contained in this Petition invalid, inoperative or unenforceable to any extent whatsoever. Except where such provision is expressly required by the Act, if any provision of this Petition shall be in conflict with any provision of the Development Agreement, the provision of the Development Agreement shall govern and this Petition shall be deemed amended accordingly. Petition to Establish 5 Horizons Community Improvement WA 3176863.1 District SIGNATURE PAGE FOR PETITION TO ESTABLISH THE HORIZONS COMMUNITY IMPROVEMENT DISTRICT The undersigned requests that the Board of Aldermen of Riverside, Missouri establish the Horizons Community Improvement District according to the preceding Petition and authorize the creation of the District. Name of Owner: The Industrial Development Authority of the City of Riverside,Missouri Owner's Telephone Number: Owner's Mailing Address: 2950 NW Vivion Road Riverside, Missouri 64105 Name of Signer: State Basis of Legal Authority to Sign: President Signer's Telephone Number: Signer's Mailing Address: Entity Type: Public Corporation The map number and assessed value of the properties owned: Map Number: Parcel Number: Assessed Value: Petition to Establish 6 Horizons Community Improvement WA 3176863.1 District By executing this Petition, the undersigned represents and warrants that such person has received a copy of this Petition and its exhibits, has read this Petition and its exhibits, is authorized to execute this Petition on behalf of the property owner named immediately above, and authorizes this signature page to be attached to the original of this Petition to be filed in the Office of the City Clerk of the City of Riverside, Missouri. The undersigned also acknowledges that the signature may not be withdrawn later than sev en(7)days after this Petition is filed with the City Clerk. A.(.ZCt /2- ZO The Industrial rfevelment Authority of the butC City of Riverside,Missouri Acknowledgement STATE OF MISSOURI ) ss. COUNTY OFRR ) Before me personally appeared�� me personally known to be the individual described in and who executed the foregoing Petition. WITNESS my hand and official seal this day of 2011. Notary Public Printed Name: My Commission Expires: %%011111111/j// l P H u W q/G yP err P :IF''• 'Commoa c' Platte County 12 7�= O...MISSb /Im Expires`��1A, Petition to Establish Horizons Community Improvement WA 3176863.1 District EXHIBIT A PETITION TO ESTABLISH THE HORIZONS COMMUNITY IMPROVEMENT DISTRICT DISTRICT BOUNDARY LEGAL DESCRH'TION Petition to Establish Horizons Community Improvement WA 3176863.1 District EXEHBIT B PETITION TO ESTABLISH THE HORIZONS COMMUNITY IMPROVEMENT DISTRICT BOUNDARY MAP Petition to Establish 9 Horizons Community Improvement WA 3176863.1 District EXHIBIT C PETMON TO ESTABLISH THE HORIZONS COMMUNITY IMPROVEMENT DISTRICT IMPROVEMENT COSTS TO BE UNDERTAKEN Horizons Community Improvement District Five-Year Costs of Services Estimate Budget Estimated Revenues in First Five Years $228,000 TOTAL REVENUES $228,000 Expenditures in First Five Years Cost of Formation &Tax Levy $30,000 Revenues Pledged to District Improvements& Services $168,000 Administrative Legal $10,000 Insurance $10,000 Accounting $10,000 TOTAL EXPENDITURES $228,000 Petition to Establish 10 Horizons Community Improvement WA 3176863.1 District