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Council Clears Shops at Smithville CID and Advances Chapter 353 Redevelopment Plan; School District Supports 10-year Pilot Limit
Summary
A series of public hearings and roll-call votes advanced a Shops at Smithville Community Improvement District (1% sales tax) and approved the redevelopment plan under Chapter 353; the school district testified in support and developers proposed a 10-year pilot with 4% biannual increases in the payment schedule.
The Board of Aldermen approved the Shops at Smithville Community Improvement District (CID) and moved forward the Shops redevelopment plan under Chapter 353 after public hearings and roll-call votes.
Outside counsel Meg Miller (Gilmore & Bell) summarized the CID petition submitted by Smith Global Base LLC: the CID would encompass a single parcel and building, generate revenue through a 1% sales tax on transactions within the district, and would operate for the statutory maximum of 27 years (the applicant's petition requests 27 years, while city policy…
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