[R.O. 2011 §150.010; Ord. No. 644 §1, 2-15-1993]
The Board of Aldermen of the City hereby finds that it is necessary and desirable to create a Tax Increment Finance Commission for the City (hereinafter the "Commission") to consist of nine (9) members. The membership of the Commission shall be divided into two (2) classifications. Six (6) of the members of the Commission shall be Class I members which are to be appointed by the Mayor of the City with the approval of a majority of the Board of Aldermen. Of the Class I members to be originally appointed, two (2) shall be designated at the time of their appointment to serve for a term of two (2) years, two (2) shall be designated to serve for a term of three (3) years and two (2) shall be designated to serve for a term of four (4) years from the date of their original appointment. Following the original appointments, the Class I members shall be appointed for terms of four (4) years. The Board of Aldermen hereby approves the appointment of the Class I members and their respective terms as shown on exhibit "A" which is on file in the City Clerk's office.
Three (3) of the members of the Commission shall be Class II members. Two (2) of the Class II members shall be appointed by the school boards of the school districts which are included within the proposed economic development area. These two (2) members shall be appointed in any manner agreed upon by the affected districts. The other Class II member shall be appointed to represent all other districts levying ad valorem taxes within the area selected as the proposed economic development area. This member shall be appointed in any manner agreed upon by the affected districts. If any of the Class II members are not appointed as herein provided within thirty (30) days after the creation of the Commission, the Class II members which are appointed, if any, with the Class I members appointed, shall exercise all powers of the Commission. The term of office of the Class II members shall coincide with the length of time a redevelopment project or area is considered for approval by the Commission and shall terminate upon the final approval by the Board of Aldermen of the project, plan and designation of the development area. Thereafter, the only members of the Commission shall consist of Class I members, unless the project, plan or designated area is changed or amended, in which event Class I shall be appointed to the Class II membership as herein provided prior to consideration of such change or amendment.
[R.O. 2011 §150.020; Ord. No. 644 §2, 2-15-1993]
The Commission shall exercise such of the powers contained in the Act as shall be designated from time to time by the Board of Aldermen except final approval of plans, projects and designation of redevelopment areas which powers cannot be delegated by the Board of Aldermen. At the direction of the Board of Aldermen, the Commission shall fix a time and place for a public hearing and notify each taxing district located wholly or partially within the boundaries of the proposed redevelopment area, plan or project. The Commission shall receive from interested persons or affected taxing districts written objections to and will orally hear any issue covered by the Notice of Hearing. The Commission shall give Notice of Hearing in the manner specified in Section 99.825, RSMo. The Commission shall vote on all proposed redevelopment plans, redevelopment projects and designations of redevelopment areas and amendments thereto within thirty (30) days following the completion of the public hearing on any such plan, project or designation and shall make recommendations to the Board of Aldermen within ninety (90) days of the date of the public hearing concerning the adoption of, or amendment to redevelopment plans and redevelopment projects and the designation of redevelopment areas.