[R.O. 2011 §2.41.010; Ord. No. 6678 §1 (part), 2007; Ord. No. 7005 §1, 1-11-2016]
An Economic Development Retail Sales Tax Board (Board) is established
by the City and shall consist of nine (9) members. The volunteer board
shall receive no compensation or operating budget.
[R.O. 2011 §2.41.020; Ord. No. 6678 §1 (part), 2007; Ord. No. 7006
§1, 1-11-2016]
A.
Board
members shall be appointed as follows:
1.
Two (2) members shall be appointed by the school districts included
within any economic development plan or area funded by the sales tax
authorized under Section 67.1305 RSMo., (the “tax”). Such
member shall be appointed in any manner agreed upon by the affected
districts;
2.
Five (5) members shall be appointed by the Mayor with the consent
of the majority of the City Council; and
3.
Two (2) members shall be appointed by the St. Louis County Council.
B.
Of
the membership initially appointed, three (3) shall be designated
to serve for terms of two (2) years and the remaining members shall
be designated to serve for a term of four (4) years from the date
of such initial appointments. Thereafter, the members appointed shall
serve for a term of four (4) years, except that all vacancies shall
be filled for unexpired terms in the same manner as were the additional
appointments pursuant to Section 67.1305.12(4), RSMo.
[R.O. 2011 §2.41.030; Ord. No. 6678 §1 (part), 2007]
The Board may elect from its members a Chairperson, a Vice Chairperson,
and a Secretary. It may adopt such rules of procedures as it deems
necessary to effectuate the provisions of this Chapter.
[R.O. 2011 §2.41.040; Ord. No. 6678 §1 (part), 2007]
All revenue generated by the tax shall be deposited by the Finance
Director in a special trust fund and shall be used solely for the
designated purposes. If the tax is repealed, all funds remaining in
the special trust fund shall continue to be used solely for the designated
purposes. Any funds in the special trust fund which are not needed
for current expenditures may be invested by the City Council in accordance
with applicable laws relating to the investment of City funds.
[R.O. 2011 §2.41.050; Ord. No. 6678 §1 (part), 2007]
A.
No
revenue generated by the tax shall be used for any retail development
project, except for the redevelopment of downtown areas and historic
districts. Not more than twenty-five percent (25%) of the revenue
generated shall be used annually for administrative purposes, including
staff and facility costs.
B.
At
least twenty percent (20%) of the revenue generated by the tax shall
be used solely for projects directly related to long-term economic
development preparation, including, but not limited to, the following:
1.
Acquisition of land;
2.
Installation of infrastructure for industrial or business parks;
3.
Improvement of water and wastewater treatment capacity;
4.
Extension of streets;
5.
Public facilities directly related to economic development and job
creation; and
6.
Providing matching dollars for State and Federal grants relating
to such long-term projects.
C.
The
remaining revenue generated by the tax may be used for, but shall
not be limited to, the following:
1.
Marketing;
2.
Providing grants and loans to companies for job training, equipment
acquisition, site development, and infrastructures;
3.
Training programs to prepare workers for advanced technologies and
high skill jobs;
4.
Legal and accounting expenses directly associated with the economic
development planning and preparation process; and
5.
Developing value-added and export opportunities for Missouri agricultural
products.
[R.O. 2011 §2.41.060; Ord. No. 6678 §1 (part), 2007]
Notwithstanding any other provision of the law to the contrary,
the tax, when imposed within a special taxing district, including,
but not limited to, a tax increment financing district, neighborhood
improvement district, or community improvement district, shall be
excluded from the calculation of revenues available to such districts,
and no revenues from any tax shall be used for the purposes of any
such district unless recommended by the Board and approved by the
City Council.
[R.O. 2011 §2.41.070; Ord. No. 6678 §1 (part), 2007]
A.
The
Board, subject to approval of the City Council, shall consider economic
development plans, economic development projects, or designations
of an economic development area, and shall hold public hearings and
provide notice of any such hearings. The Board shall vote on all proposed
economic development plans, economic development projects, or designations
of an economic development area, and amendments thereto, within thirty
(30) days following completion of the hearing on any such plan, project,
or designation, and shall make recommendations to the City Council
within ninety (90) days of the hearing concerning the adoption of
or amendment to economic development plans, economic development projects,
or designations of an economic development area. The City Council
shall have the final determination on use and expenditure of funds
received from the tax.
B.
The
Board may consider and recommend using funds received from the tax
for plans, projects, or area designations outside the boundaries of
the City if, and only if:
1.
The City receives significant economic benefit from the plan, project,
or area designation; and
2.
The Board establishes an agreement with the governing bodies of all
Cities and Counties in which the plan, project of area designation
is located detailing the authority and responsibilities or each Governing
Body with regard to the plan, project, or area designation.
[R.O. 2011 §2.41.080; Ord. No. 6678 §1 (part), 2007]
A.
The
Board and the City Council shall report at least annually to the City
Council and any other Governing Body of the City or County, respectively,
on the use of the funds provided under this Chapter and on the progress
of any plan, project, or designation adopted under this Chapter and
shall make such report available to the public.
B.
Not
later than the first (1st) day of March each year the Board shall
submit to the Missouri Joint Committee on Economic Development a report,
which must include the following information for each project using
the tax:
