99.847. No new TIF projects authorized for flood plain areas in St. Charles County, applicability of restriction. - Missouri Statutes

No new TIF projects authorized for flood plain areas in St. CharlesCounty, applicability of restriction.

99.847. 1. Notwithstanding the provisions of sections 99.800 to99.865 to the contrary, no new tax increment financing project shall beauthorized in any area which is within an area designated as flood plain bythe Federal Emergency Management Agency and which is located in or partlywithin a county with a charter form of government with greater than twohundred fifty thousand inhabitants but fewer than three hundred thousandinhabitants, unless the redevelopment area actually abuts a river or amajor waterway and is substantially surrounded by contiguous propertieswith residential, industrial, or commercial zoning classifications.

2. This subsection shall not apply to tax increment financingprojects or districts approved prior to July 1, 2003, and shall allow theaforementioned tax increment financing projects to modify, amend or expandsuch projects including redevelopment project costs by not more than fortypercent of such project original projected cost including redevelopmentproject costs as such projects including redevelopment project costs assuch projects redevelopment projects including redevelopment project costsexisted as of June 30, 2003, and shall allow the aforementioned taxincrement financing district to modify, amend or expand such districts bynot more than five percent as such districts existed as of June 30, 2003.

(L. 1996 H.B. 1237 § 24, A.L. 2002 S.B. 1107, A.L. 2005 S.B. 516, A.L. 2007 S.B. 22)