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St. Charles Council approves Riverpointe development agreement and several ordinances
Summary
Council approved a development agreement for the Riverpointe site (Bill 14054), authorizing incentives tied to generated tax revenue, and passed related ordinances and appointments; councilmembers said the package aims to catalyze development without exposing the general fund to upfront risk.
The St. Charles City Council on Feb. 3 approved a development agreement with the Riverpointe Community Improvement District and Riverpoint AAA, LLC (Bill 14054), alongside adoption of related ordinances and multiple board appointments.
Director of Administration Larry Dobrosky presented the agreement’s deal points and said incentives are structured so reimbursements are paid only after the project generates new revenue. Councilmember Vince Ratchford described the proposal as a roughly $55 million investment that would include dual-branded hotels, a high-end restaurant and a rooftop bar, and would create more than 100 full-time jobs with a combined payroll of over $3 million annually. "The city pays nothing upfront, and it pays nothing unless the project performs," Ratchford said.
Council also passed Bill 14052 (Ordinance 26-013), approving a record plat for The New Town at St. Charles Plat Fifteen-B/Sixteen-A, and Bill 14053 (Ordinance 26-014), authorizing an intergovernmental memorandum of understanding with the U.S. Postal Inspection Service for a joint Metropolitan Parcel Drug Task Force. Appointments and reappointments to various boards and commissions were approved earlier in the meeting.
Supporters said the Riverpointe agreement would catalyze development in a long-dormant site, bring tourism and dining options that complement downtown, and produce new revenue for taxing districts during and after any abatement period. The staff presentation emphasized protections for the city: reimbursements are contingent on actual tax revenues generated by the project, not paid from the general fund in advance.
All three ordinances were recorded as approved on a unanimous roll call. The ordinances were approved by the mayor on Feb. 4, 2026, and the development agreement’s implementation steps were assigned to Economic Development and related departments for follow-up.
