99.810. Redevelopment plan, contents, adoption of plan, required findings--time limitations--reports by department of economic development, required when, contents. - Missouri Statutes

Redevelopment plan, contents, adoption of plan, requiredfindings--time limitations--reports by department of economicdevelopment, required when, contents.

99.810. 1. Each redevelopment plan shall set forth in writing ageneral description of the program to be undertaken to accomplish theobjectives and shall include, but need not be limited to, the estimatedredevelopment project costs, the anticipated sources of funds to pay thecosts, evidence of the commitments to finance the project costs, theanticipated type and term of the sources of funds to pay costs, theanticipated type and terms of the obligations to be issued, the most recentequalized assessed valuation of the property within the redevelopment areawhich is to be subjected to payments in lieu of taxes and economic activitytaxes pursuant to section 99.845, an estimate as to the equalized assessedvaluation after redevelopment, and the general land uses to apply in theredevelopment area. No redevelopment plan shall be adopted by amunicipality without findings that:

(1) The redevelopment area on the whole is a blighted area, aconservation area, or an economic development area, and has not beensubject to growth and development through investment by private enterpriseand would not reasonably be anticipated to be developed without theadoption of tax increment financing. Such a finding shall include, but notbe limited to, a detailed description of the factors that qualify theredevelopment area or project pursuant to this subdivision and anaffidavit, signed by the developer or developers and submitted with theredevelopment plan, attesting that the provisions of this subdivision havebeen met;

(2) The redevelopment 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-threeyears from the adoption of the ordinance approving a redevelopment projectwithin a redevelopment area, of completion of any redevelopment project andretirement of obligations incurred to finance redevelopment project costshave been stated, provided that no ordinance approving a redevelopmentproject shall be adopted later than ten years from the adoption of theordinance approving the redevelopment plan under which such project isauthorized and provided that no property for a redevelopment project shallbe acquired by eminent domain later than five years from the adoption ofthe ordinance approving such redevelopment project;

(4) A plan has been developed for relocation assistance forbusinesses and residences;

(5) A cost-benefit analysis showing the economic impact of the planon each taxing district which is at least partially within the boundariesof the redevelopment area. The analysis shall show the impact on theeconomy if the project is not built, and is built pursuant to theredevelopment plan under consideration. The cost-benefit analysis shallinclude a fiscal impact study on every affected political subdivision, andsufficient information from the developer for the commission established insection 99.820 to evaluate whether the project as proposed is financiallyfeasible;

(6) A finding that the plan does not include the initial developmentor redevelopment of any gambling establishment, provided however, that thissubdivision shall be applicable only to a redevelopment plan adopted for aredevelopment area designated by ordinance after December 23, 1997.

2. By the last day of February each year, each commission shallreport to the director of economic development the name, address, phonenumber and primary line of business of any business which relocates to thedistrict. The director of the department of economic development shallcompile and report the same to the governor, the speaker of the house andthe president pro tempore of the senate on the last day of April each year.

(L. 1982 H.B. 1411 & 1587 § 3 subsec. 1, A.L. 1986 S.B. 664 merged with H.B. 989 & 1390, A.L. 1987 S.B. 367 Revision, A.L. 1991 H.B. 502, A.L. 1993 H.B. 566, A.L. 1997 2d Ex. Sess. S.B. 1)

Effective 12-23-97

(2006) Term "acquired" under section refers not to time of filing condemnation petition but to transfer of ownership from property owner to condemnor upon payment of commissioner's award into court or to property owner. State ex rel. Broadway-Washington v. Manners, 186 S.W.3d 272 (Mo. banc).