[R.O. 2003 § 410.010; Ord. No. 6.412 § 1, 10-18-1988]
It is hereby determined and declared by the City Council:
That in certain portions of the City obsolete, decadent, substandard, or blighted areas exist occasioned by inadequate planning, excessive land coverage, lack of proper light, air or open space, defective design or arrangement of buildings, or by reason of age, obsolescence, inadequate or outmoded design, or physical deterioration, have become social and economic liabilities;
That such areas are characterized by depreciated values, impaired investments, reduced or negligible income and inability to pay reasonable taxes;
That such conditions may exist in areas where obsolete, decadent, substandard, outworn or outmoded industrial, commercial, or residential buildings prevail;
That the assembly or certain portions for purposes of clearance, replanning, rehabilitation, reconstruction, and redevelopment may be difficult and costly;
That the existence of such conditions and the failure to clear, replan, rehabilitate, reconstruct, or redevelop these areas results in progressive deterioration, and occasions large outlays for creation of public facilities and services elsewhere;
That it is desirable to induce private capital investments to alleviate these conditions and redevelop these areas but that sometimes it is impossible or uneconomic for individual owners to independently undertake to remedy such conditions;
That such conditions require the employment of capital on an investment basis, allowing however, that widest latitude in the amortization of any indebtedness created thereby;
That such conditions further require the acquisition of adequate areas at fair prices, the clearance of such areas through demolition of existing obsolete, decadent, inadequate, or unsafe buildings and the redevelopment of such areas under proper supervision with appropriate planning as to land use and construction policies;
The clearance, replanning, rehabilitation, reconstruction, and land redevelopment of such areas on a large scale basis are necessary for the public welfare and are public uses and purposes for which private property may be acquired by purchase or eminent domain; and
That such obsolete, decadent, substandard, and blighted areas constitute a menace to the citizens of the City. Therefore, the necessity for the provisions in this Chapter is hereby declared as a matter of legislative determination to be in the public interest.
[R.O. 2003 § 410.020; Ord. No. 6.412 § 2, 10-18-1988]
The provisions of the Urban Redevelopment Corporations Law, found in Chapter 353, RSMo., are hereby accepted and shall apply to all persons and corporations operating under this Chapter insofar as the same may be applicable thereto.
[R.O. 2003 § 410.030; Ord. No. 6.412 § 3, 10-18-1988]
The following terms whenever used or referred to in this Chapter shall, unless a different intent clearly appears from the context, be construed to have the following meanings:
- That portion of the City which the City Council has found or shall find to be blighted, so that the clearance, replanning, rehabilitation, or reconstruction thereof is necessary to effectuate the purposes of this Chapter. Any such area may include buildings or improvements not in themselves blighted, and any real property, whether improved or unimproved, the inclusion of which is deemed necessary for the effective clearance, replanning, reconstruction, or rehabilitation of the area of which such buildings, improvements, or real property form a part.
- BLIGHTED AREA
- Those portions of the City which the City Council shall determine, that by reason of age, obsolescence, inadequate or outmoded design, or physical deterioration, have become economic and social liabilities and that the conditions in such localities are conducive to ill health, transmission of disease, crime, or inability to pay reasonable taxes.
- The City of Marceline.
- The Planning and Zoning Commission of the City.
- CORPORATION OR URBAN REDEVELOPMENT CORPORATION
- An Urban Redevelopment Corporation organized under and in compliance with Chapter 353, RSMo., as amended.
- DEVELOPMENT COST
- The amount determined by the City Council to be the actual cost of redevelopment, or of that part thereof for which such determination is made. The term shall include, among other costs, the reasonable expenses of planning the redevelopment, including preliminary studies and surveys, neighborhood planning, and architectural and engineering services; the reasonable value of the services performed in connection with the development plan; interest during construction; the actual cost of the real property or any part thereof where acquired partly or wholly in exchange for securities; the actual cost of demolition of existing structures; the actual cost of utilities, landscaping and roadways; the actual cost of construction, equipment and furnishings of buildings and improvements, including architectural, engineering, and builder's fees; the actual cost of reconstruction, rehabilitation, redevelopment, remodeling, or initial repair of existing buildings and improvements; reasonable management and operation costs until the redevelopment is ready for use; and the actual cost of improving those portions of the area which are to remain open spaces, together with such additions to development costs as shall equal the actual cost of additions to or changes in the redevelopment in accordance with the original development plan or after approved changes therein or amendments thereto.
- DEVELOPMENT PLAN
- A plan, together with any amendments thereto, for the development of all or any part of a blighted area, which is authorized by the legislative authority of this City.
- A mortgage, trust indenture, deed of trust, building and loan contract, or other instrument creating a lien on real property, to secure the payment of an indebtedness, and the indebtedness secured by any of them.
- Any individual, firm, partnership, joint venture, association, corporation (except an urban redevelopment corporation organized pursuant to the provisions of the Urban Redevelopment Corporations Law), whether organized for profit or not, estate, trust, business trust, receiver, or trustee appointed by any State or Federal Court, syndicate, or any other group or combination acting as a unit, and shall include the male as well as the female gender and the plural as well as the singular number.
- REAL PROPERTY
- Includes lands, buildings, improvements, land under water, waterfront property, any and all easements, franchises and hereditaments, corporeal or incorporeal, every estate, interest, privilege, easement, franchise and right therein, or appurtenant thereto, legal or equitable, including restrictions of record, created by plat, covenant, or otherwise, rights-of-way, and terms for years.
- The clearance, replanning, reconstruction, or rehabilitation of any blighted area, and the provision for such industrial, commercial, residential, or public structures and spaces as may be appropriate, including recreational and other facilities incident or appurtenant thereto.
- REDEVELOPMENT PROJECT
- A specific work or improvement to effectuate all or any part of a development plan.
- URBAN REDEVELOPMENT CORPORATION LAW
- Chapter 353, RSMo., and any amendments thereto.
[R.O. 2003 § 410.040; Ord. No. 6.412 § 4, 10-18-1988]
Any corporation seeking approval of a development plan must file with the City and with the City Manager an application for approval of a preliminary development plan. Such application shall contain:
A legal description of the area to which the preliminary development plan pertains;
A conceptual plan for the area to which the preliminary development plan pertains, including the proposed uses of the area and the general location and density of those uses;
A general description of the properties and improvements within the area to which the preliminary development plan pertains which the corporation proposes to acquire, proposes to demolish, and proposes to rehabilitate;
Evidence that the area to which the preliminary development plan pertains is a blighted area;
Evidence that the corporation is duly formed under the Urban Redevelopment Corporations Law; and
Evidence that the corporation has the financial ability to undertake the implementation of the proposed development plan.
[R.O. 2003 § 410.050; Ord. No. 6.412 § 5, 10-18-1988]
A public hearing before the City Council shall be held on the preliminary development plan not later than forty-five (45) days after the filing of the application.
[R.O. 2003 § 410.060; Ord. No. 6.412 § 6, 10-18-1988]
The corporation shall provide notice of the hearing at least fifteen (15) days prior to the scheduled hearing date. The notice shall state that an application for approval of a preliminary development plan has been filed, shall give the date of the scheduled hearing, and shall contain a legal description of the property to which the preliminary development plan pertains. The notice shall be posted in City Hall. The notice shall also be published one (1) time in a newspaper doing business in the City.
[R.O. 2003 § 410.070; Ord. No. 6.412 § 7, 10-18-1988]
Once an application for approval of a preliminary development plan has been filed by a corporation, no other application which pertains in whole or in part to the area included in the preliminary development plan first filed shall be considered by the City Council unless the application is filed within sixty (60) days after submission of the preliminary development plan first filed. If the City Council disapproves the applications, additional applications may then be filed for the area to which the preliminary development plan first filed pertains.
[R.O. 2003 § 410.080; Ord. No. 6.412 § 8, 10-18-1988]
The City Council shall determine whether a preliminary development plan is of a blighted area as defined herein.
If the City Council determines that the area is not blighted, it may allow the applying corporation a reasonable amount of time to prepare and submit a revised preliminary development plan.
If the City Council determines that the preliminary development plan is of a blighted area, it shall determine whether to approve the plan, and if there are several plans, which plan to approve. The City Council may approve a plan if it finds that it will further the purpose of this Chapter. Prior to determining whether to approve or disapprove the preliminary development plan, the City Council may request that the corporation make revisions of the preliminary development plan.
Council approval shall be by motion duly seconded and adopted.
[R.O. 2003 § 410.090; Ord. No. 6.412 § 9, 10-18-1988]
If the City Council approves a preliminary development plan, it shall then set a date for submission of a final development plan by the corporation which will allow the corporation a reasonable time to submit its final development plan, but in no case greater than one hundred twenty (120) days from the date of the City Council's approval of the preliminary development plan. For good cause shown, the Council may extend the time for submission of the final development plan.
[R.O. 2003 § 410.100; Ord. No. 6.412 § 10, 10-18-1988]
If the City Council approves a preliminary development plan, it may not consider any other corporation's proposed preliminary development plan for all or any part of the area to which the approved preliminary development plan pertains until the occurrence of the earlier of the following events:
The corporation whose preliminary development plan was approved consents to such consideration;
The corporation whose preliminary development plan was approved fails to submit a final development plan in the time required by Section 410.090; or
The City Council disapproves the final development plan submitted by the corporation whose preliminary development plan was approved.
[R.O. 2003 § 410.110; Ord. No. 6.412 § 11, 10-18-1988]
On or before the date set in the approval of the preliminary development plan for submission of a final development plan, or any extensions of said date, the corporation shall submit its final development plan to the City Council. The final development plan shall conform to the extent feasible to the preliminary development plan. If the final development plan does not substantially conform to the preliminary redevelopment plan, the final plan shall contain a statement of the reasons for non-conformance.
The final development plan shall contain:
A legal description of the development area by metes and bounds, or other definite designation, along with a listing of ownership interests in each described parcel.
A statement of the various stages, if more than one (1) is intended, by which the development is proposed to be constructed or undertaken, and the approximate time limit for the completion of each stage, together with a legal description of the real property to be included in each stage. This statement shall also contain a time schedule clearly setting forth reasonable times for start and completion of:
The time schedule shall be accompanied by a certificate that the corporation agrees, as a consideration for approval of the plan, that after approval of the plan it will in good faith attempt to purchase by negotiation any given property within the project area within one hundred eighty (180) days following a request, in writing, by the property owner to the corporation that he/she desires to proceed with the sale of the property, and that it will, if a sale of the property cannot be consummated within said period, proceed forthwith to file a proceeding in condemnation after one hundred eighty (180) days have elapsed. Nothing contained in this provision is intended to preclude the initiation of condemnation proceedings prior to the expiration of the 180-day period.
A statement of the existing buildings or improvements in the redevelopment area to be demolished, if any.
A statement of existing buildings or improvements in the development area not to be demolished immediately, if any, and the approximate period of time during which demolition will occur.
A statement of the proposed improvements, if any, to each building not to be demolished immediately, any proposed repairs or alterations to such buildings, and the approximate period of time during which such improvements, repairs or alterations are to be made.
A statement of the type, number or character of each new industrial, commercial, residential, or other building or improvement to be erected or made.
A statement of those portions, if any, of the blighted area which may be permitted or will be required to be left as open space, the use to which each such open space is to be put, the period of time each such open space will be required to remain an open space, and the manner in which it will be improved and maintained, if at all.
A statement of those portions, if any, of the redevelopment area which are proposed to be sold, donated, exchanged, or leased to the board of education, public library board, or other public agency, and an outline of the terms of such proposed sale, donation, exchange, or lease.
A statement of the proposed changes, if any, in zoning ordinances or maps necessary or desirable for the redevelopment, and its protection against blighted influences.
A statement of the proposed subdivisions or resubdivisions necessary for the redevelopment plan.
A statement of the proposed changes, if any, in streets or street levels, all proposed street closings, and all changes which would have to be made to streets adjoining or near the redevelopment project, including a plan for financing these changes.
A statement of proposed changes, if any, in public facilities and easements, including, but not limited to, school, fire, water, sewer, utilities, police, transportation, park, playground, and recreation, and commentary indicating that these facilities are presently adequate, or will be adequate at the time the redevelopment is ready for use, to service the area.
A statement of the character, type, quality of construction, approximate number of units, approximate rentals, and approximate date of availability of the proposed dwelling accommodations, if any, to be furnished during construction and upon completion of redevelopment.
A statement of any projects or relocations outside of the area of the redevelopment; including, but not limited to, evidence satisfactory to the City Council that sufficient funds or securities are immediately available and will be used for financing of the entire development proposed and will remain available until the particular development is started, and evidence satisfactory to the City Council that the amount necessary to acquire and clear the land involved is available from such equity and/or other funds.
A proposed ordinance to be adopted by the Council and a proposed contract to be executed by the corporation and the City, all pursuant to Section 410.140 hereof. The ordinance and contract shall include provisions for consideration by the Council of all additional terms under Sections 410.150, 410.180 and 410.210, if applicable, and Section 410.160 of this Chapter.
[R.O. 2003 § 410.120; Ord. No. 6.412 § 12, 10-18-1988]
Final development plan shall not be approved by the Council, until and unless it shall determine:
That the area within which the development is to be made is blighted, and that redevelopment in accordance with the development plan is necessary or advisable to effectuate the public purposes declared in Section 410.010;
That the development plan is in accordance with the comprehensive plan of the City;
That the various stages, if any, by which the redevelopment is proposed to be constructed or undertaken, as stated in the development plan, are practicable and in the public interest;
That public facilities, including, but not limited to, school, fire, water, sewer, police, transportation, park, playground, and recreation are presently adequate, or will be adequate at the time redevelopment is ready for use, to service the area;
That the proposed changes, if any, in zoning ordinances or maps and in streets and street levels or any proposed street closings are necessary or desirable for the redevelopment and its protection against blighting influences, and for the City as a whole; and
The estimated cost of acquisition of real property which is proposed the City will acquire for the proponents of the development plan by the exercise of the power of eminent domain; however, this shall only be done upon an additional payment of such funds as are necessary to reimburse the City for any expenses of any kind which it shall incur in developing these cost estimates.
[R.O. 2003 § 410.130; Ord. No. 6.412 § 13, 10-18-1988]
The City Council shall set a date for a public hearing on the final plan within a reasonable time. At least five (5) days prior to the hearing, the City shall provide notice of the hearing by first class mail to each political subdivision whose boundaries for ad valorem taxation purposes include any portion of the real property to be affected by such tax abatement or exemption with a written statement of the impact on ad valorem taxes such tax abatement or exemption will have on such political subdivisions and written notice of the hearing to be held in accordance with this Section. The written statement and notice shall also include 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 it is redeveloped. The City shall also publish the notice in a newspaper doing business in the City at least seven (7) days prior to the hearing date.
[R.O. 2003 § 410.140; Ord. No. 6.412 § 14, 10-18-1988]
At the public hearing, any interested person and the applicant corporation may be heard. After the public hearing, the City Council may:
Unconditionally approve the plan and authorize the Mayor on behalf of the City to enter into a contract with the corporation;
Approve the plan subject to conditions or restrictions, and authorize the Mayor on behalf of the City to enter into a contract with the corporation;
Require the corporation to make changes in the plan for resubmission to the City Council;
Disapprove the plan.
The City Council's approval of the plan shall be by ordinance. If the Council approves the plan, then the Council shall authorize the Mayor to enter into a contract on behalf of the City with the proposer or proposers of the plan, such contract to contain the provisions as embodied in the plan and the approving ordinance, a provision that the applicable provisions of this Chapter shall be incorporated by reference into such contract, and a provision that the terms, conditions, or provisions of the contract can be neither modified nor eliminated except by mutual agreement between the City Council and the proposer or proposers of the plan.
[R.O. 2003 § 410.150; Ord. No. 6.412 § 15, 10-18-1988]
If the corporation proposing a development plan seeks to acquire by eminent domain in its own name all or any part of the real property described in the development plan, the City Council may by the ordinance approving such plan determine that the public convenience and necessity will be served by the development plan and redevelopment project, and may grant to such corporation a certificate of public convenience and necessity authorizing and empowering such corporation to acquire by the exercise of eminent domain such real property in fee simple or other estate; provided, that such real property shall be devoted to the purposes and used subject to the conditions described in the development plan. Such corporation may thereafter exercise the power of eminent domain in the manner provided for corporations in Revised Statutes of Missouri, or it may exercise the power of eminent domain by the manner provided by any other applicable statutory provision. Property already devoted to a public use may be acquired in like manner; provided, that no real property belonging to the City or to the State, and any political subdivision thereof, may be acquired without its consent.
[R.O. 2003 § 410.160; Ord. No. 6.412 § 16, 10-18-1988]
The City, in addition to such other terms as are appropriate, may upon approval of the final plan require the corporation to adhere to the following:
A provision which prohibits assignment of the corporation's rights under the development plan except on the terms and conditions the City Council deem advisable;
A provision which requires the corporation to negotiate in good faith for the purchase of property to be acquired, and that property shall not be condemned until a negotiated purchase has been attempted;
A provision setting forth the amount and terms of any tax abatement for the real property to which the development plan pertains;
Provisions setting forth the property, if any, the corporation will dedicate to the City or other public agencies for public use;
Provisions setting forth any improvements the City will provide or construct in conjunction with the development plan;
Provisions requiring the corporation to submit periodic reports to the City regarding the progress of the project, the financial condition of the corporation, and the availability of equity or loan financing for future stages of the development plan;
A provision limiting the net earning of the corporation in the manner specified in the Urban Redevelopment Corporations Law;
Provisions setting forth the remedies for breach of the above provisions by the City or the corporation, and remedies for failure of the corporation to complete development in the time and manner specified in the final development plan;
The above requirements shall be included in the ordinance approving the plan.
[R.O. 2003 § 410.170; Ord. No. 6.412 § 17, 10-18-1988]
If the City Council approves a final development plan, that plan shall not thereafter be amended without the approval of the City Council and at all times such amended plan must still be in compliance with the requirements for approval of the original final development plan.
[R.O. 2003 § 410.180; Ord. No. 6.412 § 18, 10-18-1988]
If the corporation proposing a development plan seeks to have the City acquire by eminent domain or otherwise, and thereafter clear all or any part of the real property described in the development plan, such corporation shall at the time hereinafter provided deposit in escrow with the City, subject to the provisions of this Chapter and regulations established by the Director of Planning and Code Enforcement, a sum of money in cash or negotiable Federal or municipal securities of a cash market value equal to the cost estimated by the Council to be incurred by the City in acquiring, or if the clearance thereof is also sought, in acquiring and clearing such real property.
The term "cost," as used in this Section and Section 410.190, means all expenditures by the City, including what is paid for such real property and the clearance thereof, appraisal, abstract, title and recording fees, court costs, witness fees, fees of the City, and all other expenses of acquiring and clearing such property.
All securities deposited in escrow with the City shall be promptly placed in a safe deposit box.
[R.O. 2003 § 410.190; Ord. No. 6.412 § 19, 10-18-1988]
Within ten (10) days after the City Council shall have approved any development plan calling for the acquisition by the City by the exercise of the power of eminent domain or otherwise of all or any part of the real property described therein, the corporation submitting such plan shall deposit in escrow with the City the cash amounts or securities required by Section 410.180. The City Council may provide that the City acquire such property and procure the fee simple title thereto by purchase, by the exercise of the power of eminent domain, or by other means. The payment therefor by the City, in whole or in part, may be made out of the general funds of the City, or, in whole or in part, by general obligation bonds. The City shall then proceed to acquire such real property in accordance with such ordinance. Whenever any real property, land, easement, right-of-way, use or right of any character is taken or damaged by the City for such purpose, just compensation shall be paid to the owner thereof in accordance with the laws applicable thereto.
After acquiring the title to such real property, the City shall sell to the corporation such real property and all interest therein for the purpose of redevelopment, as hereinafter provided, subject to such restrictions, exceptions, and conditions as may be recommended by the Council. The property shall be sold for a price not less than its costs, as defined in Section 410.180.
The deposit shall be applied upon the purchase price, and the City shall give due credit therefor. When such deposit is represented by securities, the City shall immediately sell the same at the current market price thereof at private sale for cash and apply the proceeds to the selling price of such real property. If such deposit should prove to be insufficient to equal the actual cost to the City of such real property when such cost is determined after purchase, or by action of a condemnation jury, or otherwise, as the case may be, then such corporations shall make an additional deposit with the City upon ten (10) days' written notice from the City of a sum of money in cash equal to such additional acquisition cost as so determined. If the corporation fails to make such additional deposit, the City may, at its option, thereupon repeal the ordinance providing for the acquisition of such real property and dismiss the pending condemnation proceedings, if any. In such last event, the expenses of such uncompleted acquisition and condemnation proceedings, if any, shall be charged to and paid by the person or corporation so making such deposit and the amount thereof shall be withheld by the City from the funds or securities deposited in escrow and applied by the City to the payment of such expenses. The balance of such funds and securities so deposited in escrow shall then be returned to the owner thereof. Sale of such securities may be made only upon order of the City Council by resolution or ordinance.
In the event the deposit exceeds the final cost of acquisition, the balance shall be used to satisfy in part or in full legal obligations which the corporation may owe the City. Any balance thereafter remaining shall be returned to the corporation within thirty (30) days after a final determination, judicial or otherwise, and payment thereof of the price to be paid for the real property.
[R.O. 2003 § 410.200; Ord. No. 6.412 § 20, 10-18-1988]
No corporation whose development plan has been approved by the City Council shall:
Issue income debentures, bonds, notes, or other evidence of debt bearing or paying an interest rate in excess of the rate of interest allowed by law.
Pay an interest on its income debentures or dividends on its stock, regardless of class or preference, during any dividend year unless there shall exist at the time of such payment no default under any amortization requirements with respect to its indebtedness, nor unless all accrued interest, taxes, and other public charges shall have been duly paid or reserves set up for the payment thereof, and adequate reserves provided for depreciation, obsolescence and other proper reserves.
The net earnings of a corporation whose development plan has been approved by the City Council shall be limited to an amount not to exceed the rate of return allowed by Chapter 353, RSMo., as amended.
[R.O. 2003 § 410.210; Ord. No. 6.412 § 21, 10-18-1988]
The real property of a corporation acquired pursuant to this Chapter shall not be subject to assessment or payment of general ad valorem taxes imposed by the City or by the State or any political subdivision thereof for a period of up to ten (10) years as set out in the development plan after the date upon which such corporation becomes owner of such real property, except to such extent and in such amount as may be imposed upon such real property during such period measured solely by the amount of the assessed valuation of the land, exclusive of improvements acquired pursuant to this Chapter and owned by such corporation, as was determined by the assessor of the County, for taxes due and payable thereon during the calendar year preceding the calendar year during which the corporation acquired title to such real property. The amounts of such tax assessments shall not be increased by the City or by the State or any political subdivision thereof during such ten-year period so long as the real property is owned by an urban development corporation and used in accordance with a development plan authorized by the City Council.
If any such real property was tax exempt immediately prior to ownership by any such corporation, the City shall immediately request such County Assessor to promptly assess such land, exclusive of improvements, in accordance with the provisions of Section 353.110, RSMo. The amount of such assessed valuation so fixed by the County Assessor shall not be increased by the City or by the State of any political subdivision thereof during the ten-year period next following the date upon which such corporation acquired ownership thereof, so long as such real property is owned by an urban redevelopment corporation and used in accordance with the development plan authorized and approved by the City Council.
For the next ensuing period of up to fifteen (15) years as set out in the development plan, all ad valorem taxes upon such real property shall be measured by the assessed valuation thereof as determined by the City upon the basis of not to exceed fifty percent (50%) of the true value of such real property, including any improvements thereon. Nor shall such valuations be increased over fifty percent (50%) of the true value if such real property is owned by an urban redevelopment corporation and used in accordance with an authorized development plan.
After such periods established in the development plan, such real property shall be subject to assessment by the City and, thereafter, payment of all ad valorem taxes shall be based on the full true value of real property. Such property shall be owned and operated by the urban redevelopment corporation free from the conditions, restrictions, and provisions of this Chapter, the approving ordinance, and any rule or regulation adopted pursuant to this Chapter; provided, that any time after the completion of the redevelopment project as authorized by ordinance the urban redevelopment corporation may elect to pay a sum equivalent to the amount of the general ad valorem taxes, not including interest or penalties, which would have been levied on the full value of the property from the date of the completion of the project. From that date, such real property shall be owned and operated by the urban redevelopment corporation free from the conditions, restrictions, and provisions of this Chapter, the approving ordinance, and any rule or regulation adopted pursuant to this Chapter.
In the course of considering any development plan for approval, the City Council shall give particular recognition to any agreement, in writing, on behalf of the corporation presenting such plan, that, notwithstanding the provisions of the Missouri Urban Redevelopment Corporations Law, it will make payments in lieu of real property taxes to the appropriate taxing bodies.
An urban redevelopment corporation may sell or otherwise dispose of any or all of the real property acquired by it for the purpose of a redevelopment project. The ordinance approving any development plan and any contract entered into pursuant thereto, may provide that in the event of the sale or other disposition of real property of any urban redevelopment corporation by reason of the foreclosure of any mortgage or other lien through insolvency or bankruptcy proceedings, or by order of any court of competent jurisdiction, or by voluntary transfer or otherwise, the partial tax relief provided under this Section shall inure to any purchaser of such real property in accordance with provisions of the development plan. If such ordinance and contract do not so provide and the purchaser of such real property shall continue to use, operate, and maintain such real property in accordance with the provisions of the redevelopment plan, the City Council may grant the partial tax relief provided in this Section. If such real property shall be used for a purpose different than that described in the redevelopment plan, the real property shall be assessed for ad valorem taxes upon the full true value of the real property and may be owned and operated free from any of the conditions, restrictions, or provisions, of this Chapter.
[R.O. 2003 § 410.220; Ord. No. 6.412 § 22, 10-18-1988]
It shall be the duty of the City Manager, after a final development plan has been approved by the City Council, to investigate and determine from time to time during construction of the development project whether the corporation undertaking such development plan is fully complying with the provisions thereof in the manner and at the times filed therein for the performance of the various stages thereof.
It shall also be the duty of the City Manager to make reports from time to time during the construction of the redevelopment project, and at least every six (6) months to the City Council regarding each redevelopment project and the performance or compliance with each development plan, and also as to compliance with the provisions of this Chapter by any corporation operating thereunder.
The City Council may for good cause shown grant to a corporation operating under an approved development plan an extension of time in which to complete the redevelopment project, or any step or portion thereof.
When a corporation operating under an approved development plan shall have completed the redevelopment project in accordance with the provisions of the development plan, in the manner and at the time fixed therein for the performance of the various stages thereof, the City Manager, upon the written request of such corporation, shall conduct an investigation. If it is determined that the project has been so completed, the City Manager shall recommend to the City Council that a certificate of full compliance be issued to such corporation. The City Council may authorize the City Manager to issue a certificate of compliance.
The investigations and reports of the City Manager required by Subsections (A) and (B) of this Section shall not be required or made subsequent to the date of issuance of such certificate. However, every such corporation shall render annually to the Director of Finance, during the existence of the tax relief period provided in Section 410.210, three (3) copies of its financial report, including a certified audit prepared by a certified public accountant for the preceding year. This report shall disclose the earnings of the corporation and the disposition of any net earnings in excess of those provided for under Section 410.200, and the interest rate on income debentures, bonds, notes, or other evidences of debt of the corporation. The City Manager shall review the financial report of the corporation and thereafter he/she shall file with the City Council said financial report, accompanied by his/her opinion as to compliance by the corporation with Section 410.200. The corporation shall pay to the City a reasonable fee each year for this financial review and report.
[R.O. 2003 § 410.230; Ord. No. 6.412 § 23, 10-18-1988]
Whenever any person or corporation operating under an approved development plan does not substantially comply with the development plan within the time limits and in the manner for the completion of each stage thereof as therein stated, reasonable delays caused by unforeseen circumstances beyond their control alone excepted, the same may be certified by the City Manager, who may recommend that the City Attorney commence a proceeding in the Circuit Court in the name of the City to have such action, failure, omission, threatened action or omission stopped, prevented, or rectified by injunction or otherwise, or in the name of the City to bring an action for damages against the urban redevelopment corporation for breach of any of the provisions of the urban redevelopment plan. In the event the City Manager shall determine that a corporation has abandoned construction before completion of the project in accordance with the terms of the development plan, the real property included in such plan shall from that date be subject to assessment and payment of all ad valorem taxes based on the true full value of such real property.
Whenever any person or corporation operating under an approved development plan does not substantially comply with the development plan within the time limits and in the manner for the completion of each stage thereof as therein stated, reasonable delays caused by unforeseen circumstances beyond their control alone excepted, or shall do, permit to be done anything contrary to this Chapter, or fail or omit to have done, then the City Manager may hold a hearing to determine whether it should recommend revocation of the approval of the final plan. The City Manager shall then send his/her recommendation to the City Council. If the Council revokes its prior approval of the final plan, then any property included in such plan shall from that date be subject to assessment and payment of all ad valorem taxes based on the true full value of such real property, and the City Council shall be able to consider new plans for that property.
[R.O. 2003 § 410.240; Ord. No. 6.412 § 24, 10-18-1988]
The City may:
Acquire by the exercise of the power of eminent domain, or otherwise, an area designated on any master or comprehensive plan of the City as a redevelopment or urban renewal area;
Clear any such real property and install, construct, and reconstruct street, utilities and any and all other City improvements necessary for the preparation of such area for use in accordance with the provisions of this Chapter; and
Sell or lease such real property for use in accordance with the provisions of this Chapter.
[R.O. 2003 § 410.250; Ord. No. 6.412 § 25, 10-18-1988]
The City or any person or corporation may accept grants or loans of money from the government of the United States or the State or any departments or agencies thereof to effectuate the purposes of this Chapter.
[R.O. 2003 § 410.260; Ord. No. 6.412 § 26, 10-18-1988]
Approval of the preliminary and final plans does not constitute rezoning, subdividing, or any other act requiring action by the Zoning Commission and the City Council.