HomeMy WebLinkAbout2002-131 - Amendments to the Gateway Redevelopment PlanBILL NO..~~ ~,~~
ORDINANCE NO. •~~~ ~~~~
AN ORDINANCE APPROVING AMENDMENTS TO THE GATEWAY
REDEVELOPMENT PLAN, AS AMENDED.
WHEREAS, the Tax Increment Financing Commission of Riverside, Missouri
("Commission") was created pursuant to Ordinance No. 95-64, adopted by the Board of
Aldermen of Riverside, Missouri (the "Board of Aldermen") on September 12, 1995;
WHEREAS, the Real Property Tax Increment Allocation Redevelopment Act, Sections
99.800 to 99.865 of the Revised Statutes of Missouri, as amended (the "Act"), requires the
Commission to: (a) hold hearings with respect to proposed redevelopment areas, redevelopment
plans and redevelopment projects; (b) vote on the approval of the same; and (c) make its
recommendations on the same to the Board of Aldermen;
WHEREAS, the City, pursuant to Ordinance No. 2001-108, enacted on October 2, 2001,
adopted and approved the Gateway Redevelopment Plan (the "Plan") in order to facilitate the
improvement, revitalization and remediation of blighting conditions on properties located within
the Gateway Redevelopment Area (the "Redevelopment Area");
WHEREAS, amendments to the Plan are proposed include acknowledging the
incorporation of the Gateway Grant and Loan Program into the L-385 Levee Redevelopment
Plan and amendments relating thereto; and
WHEREAS, the Commission, pursuant to Resolution 2002-11-02, has approved such
amendments and recommended same to the Board of Aldermen.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE
CITY OF RIVERSIDE, MISSOURI AS FOLLOWS:
Section 1. The City Finds that the amendments do not alter the exterior boundaries of the
Redevelopment Area, affect the general land uses established pursuant to the Plan or change the
nature of any redevelopment project.
Section 2. The First Amendment to the Gateway Redevelopment Plan, attached hereto as
Exhibit A, is approved.
Section 3. This Ordinance shall be in full force and effect from and after its passage and
approval.
PASSED BY TI~~ BOARD OF ALDERMEN OF THE CITY OF RIVERSIDE,
MISSOURI, THIS DAY OF DECEMBER, 2002.
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E%HIBIT A
FIRST AMENDMENT TO THE GATEWAY REDEVELOPMENT PLAN
RIVERSIDE, MISSOURI
INTRODUCTION
The Gateway Redevelopment Plan (the "Original Plan") was approved by the Board of
Aldermen pursuant to Ordinance No. 2001-108 passed on October 2, 2001 with the
recommendation of same by the Tax Increment Financing Commission of the City of Riverside,
Missouri (the "TIF Commission") pursuant to Resolution No. 01-01 passed on October 1, 2001,
(after public hearing on June 27, 2001 and July 11, 2001), all in accordance with the provisions
of the Real Property Tax Increment Allocation Redevelopment Act, Missouri Revised Statutes,
Sections 99.800 through 99.865 (the "Act").
Pursuant to the Original Plan, the Gateway Grant and Loan Revitalization Program (the
"Grant and Loan Program") was established. The Grant and Loan Program provides annual
funding by the City to properties within the Gateway Plan Redevelopment Area to assist in the
elimination of blight and revitalization of properties within the Gateway Plan Redevelopment
Area. The City's funding of the Grant and Loan Program is not derived in any way from the TIF
revenues generated under the Gateway Plan and will not be derived from TIF revenues generated
under either the Gateway Plan or the L-385 Levee Redevelopment Plan; rather, the Grant and
Loan Program is funded from the general revenues of the City.
The City desires to extend the benefits of the Grant and Loan Program to certain
properties located within the Redevelopment Area established under the L-385 Levee
Redevelopment Plan (in addition to those under this Plan) along Vivion Road, Gateway Road
and/or Platte Road (as further described in the L-385 Levee Redevelopment Plan, as amended).
The extension of the benefits of the Grant and Loan Program to such properties will serve the
public interest of elimination of blight and revitalization of the Vivion Road and Gateway
Road/Platte Road corridors and fostering a pleasant, attractive environment that will contribute
to the development and revitalization of those portions of the Redevelopment Area established
under both Redevelopment Plans. Concurrent with this Amendment, an amendment is proposed
to the L-385 Levee Redevelopment Plan to provide eligibility under the Grant and Loan Program
to such properties in addition to those under this Plan.
AMENDMENT
I. GRANT AND LOAN PROGRAM.
1. The first pazagraph of Section I of Article VI of the Gateway Plan is deleted and replaced
with the following:
"As a part of this Plan, the City establishes the Grant and
Loan Revitalization Program to assist in funding neighborhood
improvements (i.e., facade improvements, streetscape
improvements and pazlcing, etc.). The Grant and Loan
Revitalization Program is also being approved as a part of the L-
304113
385 Levee Redevelopment Plan. The properties located within the
Gateway Redevelopment Area as well as those properties along
Vivion Road, Gateway Road and/or Platte Road (as further
described on the map attached to the 2002 Amendment to the L-
385 Levee Redevelopment Plan) located within the
Redevelopment Area established under the L-385 Levee
Redevelopment Plan, as amended, (the "Eligible Areas"), are
eligibility to participate in and obtain funding pursuant to the
Gateway Grant and Loan Revitalization Program. The Grant and
Loan Revitalization Program, attached as Exhibit L, provides for
an annual amount of funds as determined by the City for the Grant
Program and a revolving amount for the Loan Program. These
amounts will not be Reimbursable Project Costs but rather will be
funded by the City to assist in the elimination of blight and
revitalization of the Eligible Areas."
2. The Redevelopment Plan is further amended by deleting in its entirety Exhibit L and
replacing it with and incorporating therein, the revised Exhibit L attached hereto.
II. FULL FORCE AND EFFECT. The Gateway Redevelopment Plan, as amended hereby,
shall remain in full force and effect in accordance with its terms.
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EXHIBIT L
GRANT AND LOAN REVITALIZATION PROGRAM
INTRODUCTION
The Board of Aldermen of the City of Riverside, Missouri has approved the Gateway
Redevelopment Plan (the "Gateway Plan") and the Amended and Restated L-385 Levee
Redevelopment Plan, as amended (the "Levee Plan"), which include the Grant and Loan
Revitalization Program. The Grant and Loan Revitalization Program is intended to encourage
ongoing redevelopment and revitalization and provide financial incentives to businesses,
developers and owners of property located within the Gateway Redevelopment Area, which area
includes the properties along Vivion Road, Gateway Road and/or Platte Road, and certain
properties located along Vivion Road, Gateway Road and/or Platte Road (as further described on
the Map attached to the Levee Plan) in the Redevelopment Area established under the Levee
Plan ("Eligible Areas"), to remove blight, encourage redevelopment and increase the economic
vitality of this area.
Pursuant to the Gateway Plan and the Levee Plan, the City has established the Grant and
Loan Revitalization Program to assist in funding neighborhood improvements (i.e., facade
improvements, streetscape improvements and pazking, etc.) in the Eligible Areas. The
neighborhood improvements will foster a pleasant, attractive environment which will contribute
to the development and revitalization of the Gateway Plan Redevelopment Area and the Levee
Plan Redevelopment Area.
The Board solicits projects from Eligible Areas that would benefit the Gateway Plan
Redevelopment Area and/or the Levee Plan Redevelopment Area. Persons interested in
requesting assistance will complete the attached application and submit it to the City for
consideration.
ASSISTANCE PROGRAM
A combination of grants and low-interest loans may be used as determined by the City to
accomplish the improvement projects not to exceed a specific dollaz amount set by the City in
addition to tax increment financing assistance.
A $100,000 fund for the Grant Program has been established for the first yeaz of the
Grant Program to assist eligible businesses within the Eligible Areas with specified improvement
types that have been selected by the Boazd of Aldermen. Thereafter, the size of the annual fund
will be set by the Board of Aldermen.
With respect to the Loan Program, a revolving loan fund of $500,000 is anticipated to be
established by the City to assist eligible businesses within the Eligible Areas with specified
improvement types that have been selected by the Boazd of Aldermen. Funding for the Loan
Program, as well as interest rates, terms, down payments and other requirements will be
determined by the City.
ELIGIBLE AREAS AND ELIGIBLE PROJECTS
Eligible Areas are those located within the boundaries of the Gateway Plan
Redevelopment Area and those properties designated in the Levee Plan as Eligible Areas.
Eligible projects may include:
- Improvements to building facades
- Roadside frontage improvements
- Other Site Redevelopment (Loan Program Only)
- Parking improvements
- Streetscape and landscaping improvements
- Improvements to comply with ADA (Loan Program Only)
- Relocation to Business Park within City (Loan Program Only)
- Other improvements designated by the Board
FORM OF ASSISTANCE
The program will provide assistance in the form of grants and low interest loans.
TYPE AMOUNT
Grant 50% of the cost of the proposed project with a maximum of $5,000.
Loan 50% of the cost of the proposed project with a maximum of $25,000.
Applicant must be a for-profit business with gross annual revenues of less than $500,000 and less
than 100 employees. This program requires matching funds be expended by the applicant.
Neither the grant nor the loan can exceed 25% of the appraised value of the property for the prior
year; provided however, in the case of new construction, such amount cannot exceed 25% of the
construction contract for the real improvements.
The City will evaluate the proposals, in part, on the basis of the amount of funds being
invested by the applicant. The grant funds will be provided after the private investment has been
applied to the project and only after the work for which the grant will approved has been
completed.
SUBMISSION OF PROPOSALS
The City will consider proposals from time to time as set by the Boazd of Aldermen.
Proposals may be submitted to the City Administrator at: City Hall, 2950 Vivion Road,
Riverside, Missouri.
Initially proposals will be considered on a quarterly basis. Proposals may be submitted
during the lsr (January, February, March) and 3rd (July, August, September) quarters of each
calendaz year. For proposals submitted during January, February and March of each yeaz, such
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submissions will be reviewed during the months of April, May and June. For proposals
submitted during July, August and September of each year, such submissions will be reviewed
during the months of October, November and December of each year.
The City reserves the right to accept or reject any and all proposals. All applicants
and their contractors must be current on all taxes in order to be considered.
ADDITIONAL INFORMATION
For additional information, please contact David Blackburn, City Administrator, 2950
Vivion Road, Riverside, Missouri.
The City reserves the right to accept or reject any and all proposals.
The City reserves the right to change, supplement and/or waive any requirement or
time period under the program.
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