The Raymore City Council on Jan. 12 approved two ordinances authorizing Chapter 100 industrial development revenue bond transactions for the TimberTrails project: Bill 3992 (multifamily phase) and Bill 3993 (retail phase). Both measures passed by recorded voice vote, 6–2.

Bond counsel and the city's special economic development counsel explained Chapter 100 mechanics and why the city may use the statute in conjunction with the Missouri Constitution (Article 6, Section 27(b)). Counsel said Chapter 100 permits a city to issue revenue bonds to construct facilities to be leased to private entities; the constitution expands allowable project categories to include commercial and multifamily in addition to strictly industrial uses. "Chapter 100 authorizes cities to issue revenue bonds for the purpose of constructing a facility to be leased to a private entity," counsel said, and she pointed to the constitutional provision that lists manufacturing, commercial, warehouse and industrial purposes.

Developer counsel Ben Bigham described the TimberTrails financings as book‑entry, special‑obligation bonds purchased by the developer and explained the pilot schedules. For the multifamily phase, he said the fixed pilot is $1,426.35 per unit for 300 units, producing about $427,000 in year‑one pilot payments; that figure is intended to provide certainty to lenders and to mirror Cass County's assessed valuation assumptions. For the retail phase, the project uses a floating pilot with a 25% abatement initially that can scale up to 50% if higher sales‑tax generating tenants are secured.

Several council members reiterated concerns about long abatement terms and precedent. Councilmember Jay Baker and Councilmember Mills said they worried about the city effectively foregoing tax revenue for 25 years and the pressure multiple Chapter 100 projects place on municipal services. Counsel and the developer responded that the city does not have an obligation to pay debt service on the bonds, that the developer purchaser and lenders bear repayment risk, and that the development agreement and related indemnities provide remedies for misuse of exemptions.

Votes: Bill 3992 (TimberTrails multifamily Chapter 100) passed by a 6–2 vote; Bill 3993 (TimberTrails retail Chapter 100) also passed 6–2. The council recorded detailed explanations for how the pilot payments and abatements are calculated and noted the development agreement approved in August 2023 contemplates the Chapter 100 plan.

Next steps: With council approval, bond sale documents and the Chapter 100 plan move forward to implementation per the development agreement and applicable county assessments.