City of Louisiana, MO
Pike County
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Table of Contents
Table of Contents

Section 425.010 Procedures For Acceptance of Redevelopment Proposals.

[R.O. 2008 §430.010; Ord. No. 6640 §§1 — 2, 9-18-2001; Ord. No. 24-2007 §12, 12-13-2007]
A. 
Each proposal for grant of tax abatement or exemption received from or on behalf of an urban redevelopment corporation pursuant to provisions of Chapter 353, RSMo., (a "Redevelopment Proposal") shall be first (1st) submitted to the City Administrator who, in consultation with the City's Special Redevelopment Counsel if deemed necessary, will review the Redevelopment Proposal to assure its consistency with the economic development policies and long-range goals of the City. The City Administrator shall then discuss the Redevelopment Proposal with the Directors of the Redevelopment Corporation who may offer their input as the viability and merits of the terms and conditions of such Redevelopment Proposal if such proposal was not submitted by or in conjunction with the Redevelopment Corporation. After the Directors have reviewed the Redevelopment Proposal, it shall be forwarded to the City Council. It shall immediately be set for public hearing before the City Council and the City shall furnish written notice by First Class United States Mail to be deposited in the mail not less than five (5) days prior to the date of the public hearing to each political subdivision whose boundaries for ad valorem taxation purposes include any portion of the real property within the area to be redeveloped and once by publication in a newspaper of general circulation within the City, all in accordance with the requirements of Chapter 353, RSMo. Written notice shall generally describe the affected area and shall give the date, time and place of the public hearing and shall state that all affected political subdivisions shall have a right to be heard on the proposed grant of tax abatement or exemption.
B. 
Prior to the public hearing on any proposal for a grant of tax abatement, a written statement of the impact on ad valorem taxes of the proposed tax abatement or exemption containing, at minimum, an estimate of the amount of ad valorem tax revenues of each political subdivision which will be affected by the proposed tax abatement or exemption, based on the estimated assessed valuation of the real property involved as such property would exist before and after redevelopment (the "Tax Impact Statement") shall be furnished by First Class United States Mail to be deposited in the mail not less than five (5) days prior to the date of the public hearing addressed to each political subdivision whose boundaries for ad valorem taxation purposes include any portion of the real property affected by such tax abatement or exemption. That Tax Impact Statement may be furnished along with the notice of the public hearing provided in Subsection (A) of this Section. The City Administrator is further authorized and directed to offer such further assistance and take such further actions as may be required to effectuate the required notices of the public hearing and to bring the Redevelopment Proposal before the City Council for consideration.