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Creve Coeur staff previews Neighborhood Improvement District policy after Mary Meadows Lane request
Summary
Finance director Laurie Obermiller presented a draft Neighborhood Improvement District (NID) policy to allow neighborhoods to finance public improvements through bonds or financial agreements; staff proposed a $5,000 application deposit and showed financing terms (prime plus 100 basis points, currently noted as ~9.5% with prime at 8.5%).
City finance staff presented a draft Neighborhood Improvement District policy after a request from the Mary Meadows Lane neighborhood seeking help financing street repairs.
Laurie Obermiller, director of finance, told the council Missouri statute allows creation of a geographically defined NID so public improvements can be financed through the city and repaid by special assessments on properties…
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