Chesterfield’s City Council approved a redevelopment project for Redevelopment Project Area 3 (RPA 3) under the city’s tax increment financing plan in a 7-1 second-reading vote, and advanced several related items including an amendment to RPA 2 and first readings of a $13.415 million financing plan and a property-management agreement.

The vote on the second reading of bill 34-30—approving RPA 3 under the Real Property Tax Increment Allocation Redevelopment Act, sections 99.8 to 99.865 of the Revised Statutes of Missouri—was 7 in favor and 1 opposed. Council member Tocco cast the lone no vote. Council later approved a second reading amending RPA 2 unanimously.

The redevelopment approvals set the legal framework for tax increment financing (TIF) activity in RPA 3. City Administrator Geisel told council the city is preparing to finance a real-estate purchase connected to the redevelopment: “It finances $13,415,000 by direct placement with Simmons Bank, on a 20 year amortization basis fixed at 5.95%,” and council gave the financing bill (35-66) a first reading; that measure passed its first reading on a 6-2 vote and is scheduled for a second reading in two weeks.

Council also gave first reading approval to a proposed management and leasing agreement with Gershman Commercial Real Estate LLC that would take effect if the city completes the property purchase; that first reading passed 6-2. Council authorized city staff to proceed with documents and next steps tied to RPA 3 and the property transaction, but did not finalize the financing or management contracts at this meeting.

Council member Tocco pressed for additional transparency and technical clarifications before moving forward. Tocco asked the city to produce new maps aligning all RPAs and the TIF redevelopment areas with the latest concept plans, to “clarify the boundaries of RPA 3, what is included, what’s not, including things like the library and the YMCA,” and to submit revisions and clarifications requested in the state auditor’s report before activating revenues. “It shall be the policy of the state that each redevelopment plan or project of a municipality be carried out with full transparency to the public,” Tocco said, quoting Missouri statute 99.820 and urging parcel-level accounting.

Tocco also requested that the city break down the total acreage by RPA and identify acres taken up by roadways and other infrastructure so parcel totals reconcile with earlier documents; he cited 216.39 acres in taxable parcels and noted that prior materials referenced 241 acres in the project area. Council did not adopt Tocco’s requested conditions at the meeting; the RPA 3 measure passed after the roll call.

Decisions and next steps: the council’s vote approved the RPA 3 redevelopment project on second reading (bill 34-30) 7-1. Bill 35-61 (amending RPA 2) passed second reading 8-0. Bill 35-66 (financing the purchase) and bill 35-67 (management and leasing agreement) passed first readings 6-2 and will return for second readings and final votes. Staff will prepare financing documents, management agreements, and supporting materials; council members requested additional mapping and documentation be provided for review.

Why it matters: approving RPA 3 with a TIF designation allows the city to capture incremental property tax revenue within the defined area to pay for public improvements and debt service associated with redevelopment. The financing and manager-selection steps under consideration would commit the city to a long-term payment stream and to selected third-party management if the purchase proceeds, so council members’ calls for clear boundaries and parcel accounting reflect concerns about how revenues and obligations will be tracked.

What council said (selected quotes): Council member Tocco: “How can you activate revenues if you don’t have a clear and accurate boundary?” City Administrator Geisel described the proposed financing: “It finances $13,415,000 by direct placement with Simmons Bank, on a 20 year amortization basis fixed at 5.95%.”

Implementation notes: the financing bill will return for a second reading in two weeks; the management agreement is contingent on final authorization of the purchase. The state statutes cited in debate include sections 99.8 to 99.865 of the Revised Statutes of Missouri (Real Property Tax Increment Allocation Redevelopment Act) and Missouri statute 99.820 referenced by a council member.

Speakers in the meeting who spoke to this topic included Council member Tocco; Council members Mastorakis, Moore, Koch, McGinnis, Monticello, Hanson and Bedor; City Administrator Geisel; and Miss McGowan (city clerk) who read bill language.