99.1060. Businesses relocating in development area, authority to report to department, when--status report submitted, contents--access to project sites--annual financial statements required.

MISSOURI STATUTES AND CODES

99.1060. Businesses relocating in development area, authority to report to department, when--status report submitted, contents--access to project sites--annual financial statements required.

Businesses relocating in development area, authority to report todepartment, when--status report submitted, contents--access toproject sites--annual financial statements required.

99.1060. 1. By the last day of February each year, the municipality orauthority shall report to the director of the department of economicdevelopment the name, address, phone number, and primary line of business ofany business which relocates to the development area.

2. Each year the governing body of the municipality, or its designee,shall prepare a report concerning the status of the development plan, thedevelopment area, and the included development projects, and shall submit acopy of such report to the director of the department of economic development. The report shall include the following:

(1) The name, street and mailing addresses, phone number, and chiefofficer of the granting body;

(2) The name, street and mailing addresses, phone number, and chiefofficer of any business benefiting from public expenditures in suchdevelopment plans and projects;

(3) The amount and source of revenue in the special allocation fund;

(4) The amount and purpose of expenditures from the special allocationfund;

(5) The amount of any pledge of revenues, including principal andinterest on any outstanding bonded indebtedness;

(6) The original equalized assessed value of the development area;

(7) The assessed valuation added to the development area;

(8) Payments made in lieu of taxes received and expended;

(9) The economic activity taxes generated within the development area inthe baseline year;

(10) The economic activity taxes generated within the development areaafter the baseline year;

(11) Reports on contracts made incident to the implementation andfurtherance of a development area, the development plan, and the includeddevelopment projects;

(12) A copy of the development plan;

(13) The cost of any property acquired, disposed of, rehabilitated,reconstructed, repaired, or remodeled;

(14) The number of parcels acquired by or through initiation of eminentdomain proceedings;

(15) A summary of the number of net new jobs created, categorized byfull-time, part-time, and temporary positions, and by wage groups;

(16) The comparison of the total employment in this state by the anybusiness, including any corporate parent, benefiting from public expendituresin the development area on the date of the application compared to suchemployment on the date of the report, categorized by full-time, part-time, andtemporary positions;

(17) A statement as to whether public expenditures on any developmentproject during the previous fiscal year have reduced employment at any othersite controlled by any business benefiting from public expenditures in thedevelopment area or its corporate parent, within or without of this state as aresult of automation, merger, acquisition, corporate restructuring, or otherbusiness activity;

(18) A summary of the other community and economic benefits resultingfrom the project, consistent with those identified in the application;

(19) A signed certification by the chief officer of the authority ormunicipality as to the accuracy of the progress report; and

(20) Any additional reasonable information the department of economicdevelopment deems necessary.

3. The department shall compile and publish all data from the progressreports in both written and electronic form, including the department'sInternet web site.

4. The department shall have access at all reasonable times to theproject site and the records of any authority or municipality in order tomonitor the development project or projects and to prepare progress reports.

5. Data contained in the report required pursuant to the provisions ofsubsection 1 of this section and any information regarding amounts disbursedto municipalities pursuant to the provisions of sections 99.1042 and 99.1048shall be deemed a public record, as defined in section 610.010, RSMo.

6. Any municipality failing to file an annual report as requiredpursuant to this section shall be ineligible to receive any disbursements fromthe state supplemental rural development fund pursuant to section 99.1048.

7. The Missouri agricultural and small business development authorityand the department of economic development shall annually review the reportsprovided pursuant to this section.

8. The director of the department of economic development shall submit areport to the governor, the speaker of the house of representatives, and thepresident pro tempore of the senate no later than April thirtieth of eachyear. The report shall contain a summary of all information received by thedirector of economic development pursuant to subsection 2 of this section.

9. An annual statement showing the payments made in lieu of taxesreceived and expended in that year, the status of the development area, thedevelopment plan, the development projects in the development plan, the amountof outstanding obligations, and any additional information that themunicipality deems necessary shall be published in a newspaper of generalcirculation in the municipality.

10. Five years after the establishment of the development area and thedevelopment plan and every five years thereafter the governing body of themunicipality or authority shall hold a public hearing regarding thedevelopment area and the development plan and the development projects adoptedpursuant to sections 99.1000 to 99.1060. The purpose of the hearing shall beto determine if the development area, development plan, and the includeddevelopment projects are making satisfactory progress under the proposed timeschedule contained within the approved development plan for completion of suchdevelopment projects. Notice of such public hearing shall be given in anewspaper of general circulation in the area served by the municipality orauthority once each week for four weeks immediately prior to the hearing.