Missouri Revised Statutes requires the City to create a commission to review redevelopment areas and make recommendations to the City Council. The Tax Increment Financing Commission encourages the economic viability of the City and assists in identifying redevelopment areas and recommending infrastructure improvements and funded by payments in lieu of taxes.
The Commission shall consist of eleven (11) members. Six (6) residents shall be appointed by the Mayor with the consent of the City Council for four year terms. Two (2) members shall be appointed by the school board whose district is included within the redevelopment plan or redevelopment area; two (2) members shall be appointed by the county within the redevelopment plan or redevelopment area; and one (1) member shall be appointed to represent all other districts levying ad valorem taxes within the area, excluding representatives of the City Council.
Members appointed by school districts and other taxing districts shall serve for a term to coincide with the length of time the redevelopment area is considered for approval and will terminate upon final approval of the project.
The Tax Increment Financing Commission shall have the following duties:
- Hold Public Hearings and provide notice pursuant to 99.825 and 99.830 RSMo.
- Vote on all proposed redevelopment plans, redevelopment projects and designation of redevelopment areas, and amendments thereto, within thirty (30) days following completion of the hearing on any such plan, project or designation;
- Make recommendations to the City Council within (90) days of the hearing required by 99.825 RSMo. concerning the adoption of, or amendment to, redevelopment plans and redevelopment projects and the designation of redevelopment areas.