[CC 1985 § 2-204; Ord. No. 933, 12-8-2008; Ord. No. 942, 3-2-2009]
A.
The City Council of St. James, Missouri,
hereby establishes the St. James Enhanced Enterprise Zone; and
B.
The City Council of St. James, Missouri,
hereby appoints a seven-member board to lead the St. James Enhanced
Enterprise Zone. The board shall serve the following role:
1.
Advise the local governing authority
on the designation of the Enhanced Enterprise Zone and any other advisory
duties as determined by the governing authority.
2.
Once the designation of the zone
has been completed, the board shall be responsible for review and
assessment of zone activities.
3.
Responsible for submitting an annual
report to the Director of the Department of Economic Development regarding
the status of the zone and business activity.
[CC 1985 § 2-206; Ord. No. 974, 1-5-2010]
A.
The number of members on the board shall
be seven (7). One (1) member of the board shall be appointed by the
St. James School District. One (1) member of the board shall be appointed
by the other affected taxing districts in the zone, including the
St. James Fire District, The Phelps County Developmentally Disabled
Board and Phelps County. The remaining five (5) members of the board
shall be appointed by the Mayor of St. James.
B.
The school district member and the affected
taxing district member shall each have initial terms of five (5) years.
Of the five (5) members appointed by the Mayor, two (2) shall have
initial terms of four (4) years, two (2) shall have initial terms
of three (3) years, and one (1) shall have an initial term of two
(2) years. Thereafter, members shall serve terms of five (5) years.
Each Commissioner shall hold office until a successor has been appointed
by the appropriate and representative taxing district.
C.
A vacancy on the board because of death,
resignation, or removal shall be filled in like manner as original
appointments. The Mayor of St. James may remove any Director for inefficiency,
misconduct in office or neglect of duty.
D.
The members of the board annually shall
elect a Chairperson from among the members. A vacancy in position
of Chairperson will be filled at the next regular meeting of the Board
by direct nomination from the floor. Paper ballots may be used for
the vote if there is more than one (1) candidate for the position.
Those elected will take their positions immediately after the results
are announced. The Chairperson may resign his/her position but remain
active on the Board membership.
E.
A majority of the members shall constitute
a quorum of the board for the purpose of conducting business and exercising
the powers of the board and for all other purposes. Action may be
taken by the board upon a vote of a majority of the members present.
F.
The meeting of the St. James Enhanced Enterprise
Zone Board shall be held as needed. An annual meeting shall be held
the first Wednesday of December of each year to elect officers and
complete the annual report required by the Missouri Department of
Economic Development. Meetings of the Board may be called by the Chairperson.
[CC 1985 § 2-207; Ord. No. 975, 1-5-2010]
A.
The St. James Enhanced Enterprise Zone
Incentives Matrix is approved as established by the St. James Enhanced
Enterprise Zone Board and offered to any eligible business enterprise
located within the zone and meeting requirements of Chapter 135, RSMo.,
as amended. This incentive matrix establishes all tax abatements to
be offered to eligible businesses beyond the minimum abatements required.
B.
Eligible projects are required to commit
to job creation, payroll and capital investment within three (3) years.
Additional abatement incentives will be evaluated annually and offered
annually at the time that eligible businesses meet the projected job
growth, provide the average payroll and make the capital investments
committed to. Maximum allowable combined incentive is ninety percent
(90%) abatement for no more than twenty (20) years.
|
ADDITIONAL ABATEMENT INCREMENTAL
BENEFITS
| ||
|---|---|---|
|
New Jobs
| ||
|
5 + new full-time employees
|
5% additional abatement
| |
|
15 + new full-time employees
|
10% additional abatement
| |
|
25 + new full-time employees
|
15% additional abatement
| |
|
50 + new full-time employees
|
25% additional abatement
| |
|
100 + new full-time employees
|
25% additional abatement + 5 years
| |
|
250 + new full-time employees
|
25% additional abatement + 10 years
| |
|
250 + new full-time employees
|
30% additional abatement + 10 years
| |
|
Average New Payroll
| ||
|
110% of County average
|
5% additional abatement
| |
|
120% of County average
|
10% additional abatement
| |
|
130% of County average
|
10% additional abatement + 5 years
| |
|
Capital Investment
| ||
|
Exceeding $5,000,000
|
5% additional abatement
| |
|
Exceeding $10,000,000
|
10% additional abatement
| |
|
Exceeding $25,000,000
|
15% additional abatement
| |
|
Exceeding $50,000,000
|
15% additional abatement + 5 years
| |
|
Exceeding $75,000,000
|
15% additional abatement + 10 years
| |
