Board dissolves TIF 9 after developer bonds paid off
Council members voted to dissolve the TIF 9 special allocation fund (Gateway Commons) after staff said the statutory 23-year term had expired and bonds/loan obligations (a $5.6 million loan cited in the record) were repaid; the measure passed as Ordinance No. 7683.
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City staff explained that TIF 9 (also called Gateway Commons) has reached its 23‑year statutory life, the associated bonds were paid off and the city moved to formally dissolve the TIF 9 special allocation fund and terminate the redevelopment-area designation. Staff stated the project had included a $5,600,000 loan from the Missouri Development Finance Corporation and that the bonds tied to that loan were paid off in March; following that explanation the board voted to place Bill 7946 on readings and enact it.
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