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Lebanon council approves 27-year extension, adds parcel to Southdale Center Community Improvement District
Summary
Lebanon City Council on Monday approved an amended petition to extend the Southdale Center Community Improvement District for 27 years from the ordinance’s effective date and to add adjacent land currently occupied by an Ashley Furniture store to the district footprint.
Lebanon City Council on Monday approved an amended petition to extend the Southdale Center Community Improvement District for 27 years from the ordinance’s effective date and to add adjacent land currently occupied by an Ashley Furniture store to the district footprint.
The change, approved by roll call vote, directs the city clerk to notify the Missouri Department of Economic Development and would allow the CID to use additional sales-tax revenues to reimburse developer-advanced infrastructure and site work. The petitioner has estimated about $1,800,000 in additional work tied to the annexation and build-out of retail space.
Rob Preston, an attorney with the law firm Spencer Fane representing the developer, described the district to the council as “a special taxing district authorized by the State of Missouri” funded through a 1%…
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