99.1027. Developmental plan, contents, adoption of, procedure.

MISSOURI STATUTES AND CODES

99.1027. Developmental plan, contents, adoption of, procedure.

Developmental plan, contents, adoption of, procedure.

99.1027. 1. A development plan shall set forth in writing a generaldescription of the program to be undertaken to accomplish the developmentprojects and related objectives and shall include, but need not be limited to:

(1) The name, street and mailing address, and phone number of the mayoror chief executive officer of the municipality;

(2) The street address of the development site;

(3) The three-digit North American Industry Classification System numberor numbers characterizing the development project;

(4) The estimated development project costs;

(5) The anticipated sources of funds to pay such development projectcosts;

(6) Evidence of the commitments to finance such development projectcosts;

(7) The anticipated type and term of the sources of funds to pay suchdevelopment project costs;

(8) The anticipated type and terms of the obligations to be issued;

(9) The most recent equalized assessed valuation of the property withinthe development project area;

(10) An estimate as to the equalized assessed valuation after thedevelopment project area is developed in accordance with a development plan;

(11) The general land uses to apply in the development area;

(12) The total number of individuals employed in the development area,categorized by full-time, part-time, and temporary positions;

(13) The total number of full-time equivalent positions in thedevelopment area;

(14) The current gross wages, state income tax withholdings, and federalincome tax withholdings for individuals employed in the development area;

(15) The total number of individuals employed in this state by thecorporate parent of any business benefiting from public expenditures in thedevelopment area, and all subsidiaries thereof, as of December thirty-first ofthe prior fiscal year, categorized by full-time, part-time, and temporarypositions;

(16) The number of new jobs to be created by any business benefitingfrom public expenditures in the development area, categorized by full-time,part-time, and temporary positions;

(17) The average hourly wage to be paid to all current and new employeesat the project site, categorized by full-time, part-time, and temporarypositions;

(18) For project sites located in a metropolitan statistical area, asdefined by the federal Office of Management and Budget, the average hourlywage paid to nonmanagerial employees in this state for the industries involvedat the project, as established by the United States Bureau of LaborStatistics;

(19) For project sites located outside of metropolitan statisticalareas, the average weekly wage paid to nonmanagerial employees in the countyfor industries involved at the project, as established by the United StatesDepartment of Commerce;

(20) A list of other community and economic benefits to result from theproject;

(21) A list of all development subsidies that any business benefitingfrom public expenditures in the development area has previously received forthe project, and the name of any other granting body from which such subsidiesare sought;

(22) A list of all other public investments made or to be made by thisstate or units of local government to support infrastructure or other needsgenerated by the project for which the funding pursuant to this act* is beingsought;

(23) A statement as to whether the development project may reduceemployment at any other site, within or without of the state, resulting fromautomation, merger, acquisition, corporate restructuring, relocation, or otherbusiness activity;

(24) A statement as to whether or not the project involves therelocation of work from another address and if so, the number of jobs to berelocated and the address from which they are to be relocated;

(25) A list of businesses that are competing with the businessbenefiting from the development plan in the county containing the developmentarea and in each contiguous county;

(26) A market study for the development area; and

(27) A certification by the chief officer of the applicant as to theaccuracy of the development plan.

2. The development plan may be adopted by a municipality in reliance onfindings that a reasonable person would believe:

(1) The development area has not been subject to growth and developmentthrough investment by private enterprise and would not reasonably beanticipated to be developed without the implementation of one or moredevelopment projects and the adoption of local and state developmentfinancing;

(2) The development plan conforms to the comprehensive plan for thedevelopment of the municipality as a whole;

(3) The estimated dates, which shall not be more than twenty-five yearsfrom the adoption of the ordinance approving any development project, of thecompletion of such development project and retirement of obligations incurredto finance development project costs have been stated, provided that noordinance approving a development project shall be adopted later than fifteenyears from the adoption of the ordinance approving the development plan andprovided that no property for a development project shall be acquired byeminent domain later than ten years from the adoption of the ordinanceapproving such development plan;

(4) In the event any business or residence is to be relocated as adirect result of the implementation of the development plan, a plan has beendeveloped for relocation assistance for businesses and residences;

(5) A cost-benefit analysis showing the economic impact of thedevelopment plan on the municipality and school districts that are at leastpartially within the boundaries of the development area. The analysis shallshow the impact on the economy if the development projects are not builtpursuant to the development plan under consideration. The cost-benefitanalysis shall include a fiscal impact study on each municipality and schooldistrict which is at least partially within the boundaries of the developmentarea, and sufficient information from the authority to evaluate whether eachdevelopment project as proposed is financially feasible; and

(6) An economic feasibility analysis including a pro forma financialstatement indicating the return on investment that may be expected withoutpublic assistance. The financial statement shall detail any assumptions made,a pro forma statement analysis demonstrating the amount of assistance requiredto bring the return into a range deemed attractive to private investors, whichamount shall not exceed the estimated reimbursable project costs.