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Economic Development Committee endorses current incentive policy after discussion of Chapter 100
Summary
The Wildwood Economic Development Committee voted to endorse its existing economic incentive policy (Ordinance No. 2348) after a multi-member discussion about how Chapter 100 of Missouri law could be used to attract development. Committee members requested clarifications on stakeholder protections and noted potential effects on taxing districts.
The Wildwood Economic Development Committee on Tuesday endorsed the city’s existing economic incentive policy, as set out in Ordinance No. 2348, after a discussion about whether to call out Chapter 100 of Missouri law in the policy.
Committee Chair Ottenberg called for an endorsement of the current policy after staff presented background on the city’s procedures for public funding assistance. Mr. Lee, speaking for city economic development staff, summarized the policy and described Chapter 100 as a state statute that can provide sales-tax exemptions on construction purchases and a temporary property-tax abatement negotiated with taxing districts.
The endorsement motion passed by…
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