HomeMy WebLinkAbout2007-06 Briarcliff Development West Platte Road Redevelopment Plan.,- J
RESOLUTION N0.2007-06
EXPRESSING THE INTENT OF THE CITY OF RIVERSIDE, MISSOURI TO INDUCE
BRIARCLIFF DEVELOPMENT COMPANY, AT ITS SOLE RISK, TO PERFORM CERTAIN
PRELIMINARY WORK RELATING TO TAE PROPOSED WEST PLATTE ROAD
REDEVELOPMENT PLAN AND TO PROVIDE CERTAIN REIMBURSEMENTS FOR THE
COSTS THEREOF.
WHEREAS, the Board of Aldermen issued a Request for Proposals to redevelop approximately
64 acres in the vicinity of West Platte Road at the easterly limits of the City.
WHEREAS, Briarcliff Development Company ("Developer") submitted a response to the
Request for Proposals, a copy of which is on file at City Hall ("TIF Proposal"), providing for commercial
and residential projects ("Projects").
WHEREAS, Developer desires to perform certain utility and storm water work and preliminary
grading work as well as relocations of displacees (collectively, the "Work") prior to the approval of the
proposed West Platte Road Redevelopment Plan ("TIF Plan") in order to be in a position to take
advantage of the 2007 construction season if the TIF Plan is approved.
WHEREAS, the Developer has represented to the TIF Commission and the Board of Aldermen
that it would not redevelop the Redevelopment Area without the use of payments in lieu of taxes and
economic activity taxes generated by the commercial portion of the Projects to pay for certain
redevelopment costs as described in the TIF Proposal ("Reimbursable Project Costs").
WHEREAS, the TIF Proposal proposes the approval of Reimbursable Froject Costs associated
with the Work.
WHEREAS, the City intends, subject to approval of the TIF Plan and the execution of a
Redevelopment Contract, to provide for reimbursement of all City and TIF Commission costs and
expenses and Reimbursable Project Costs associated with the Work.
WHEREAS, this Resolution is meant only to be a statement of the current intent of the City, and
does not constitute a binding agreement of the City to act upon such intent.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE
CITY OF RIVERSIDE, MISSOURI, AS FOLLOWS:
Section 1. The City hereby expresses its intent to take all steps necessary to cause the
consideration of the. TIF Plan which will provide for approval of the Redevelopment Projects under the
TIF Plan, including but not limited to the Work, and provide for the reimbursement or payment of certain
costs and expenses necessary for such Work ("Reimbursable Project Costs"), all as to be set forth in the
TIF Plan.
Section 2. This Resolution shall be considered a legislative finding and conclusion that the
proposed Redevelopment Area (as described in the TIF Proposal) has not been subject to growth and
development through investment by private enterprise and will not reasonably be anticipated to be
developed without the approval of the TIF Plan. The City finds that the existing conditions of the
R ., s.
proposed Redevelopment Area as described in the TIF Proposal are a fair depiction of the Redevelopment
Area and cause the proposed Redevelopment Area to qualify to be designated as a "blighted area" as
defined in the Act. These conditions include deterioration of improvements and the existence of
conditions which endanger life or property so that the area is an economic and/or social liability with an
inability to be properly developed.
Section 3. The City declares its intent, subject to the approval of the TIF Plan and the
execution of a Redevelopment Contract, to reimburse, solely from and only to the extent of available tax
increment financing revenues, all or a portion of the Developer's reimbursable redevelopment project
costs relating to the Work, including such costs of the Developer that are incurred prior to the approval of
the TIF Plan (provided such costs are in accordance with such TIF Plan and designated as reimbursable
pursuant to the TIF Plan and Redevelopment Contract).
Section 4. The maximum amount of Developer reimbursement for Work covered by the
intent expressed in this Resolution is $400,000 for utilities, $100,000 for relocations and $160,000 for
preliminary grading, which is based on the projected Reimbursable Redevelopment Project Costs
associated with the Work.
Section 5. This resolution expresses the intent of the City only as of the date of its adoption
and does not bind the City to act upon that intent; the Developer understanding and agreeing that the
performance of any Work is at the sole cost, expense and risk of the Developer.
PA,~SED AND APPROVED BY THE BOARD OF ALDERMEN OF RNERSIDE, MISSOURI,
THI~ AY OF MAY, 2007.
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i Ka een L. Rose, Mayor
A est:
Lo ' e Rusick, City Jerk