Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Tax Abatement Redevelopment topic
No spam. Unsubscribe anytime.
Board approves K‑353 redevelopment plan and tax‑abatement framework; school district urges monitoring
Summary
The board approved the K‑353 redevelopment plan under Chapter 353, RSMo, declaring the redevelopment area blighted for the purpose of tax abatement; the school district submitted a written statement read for the record noting the abatement ties to future revenue and asking the board to continue monitoring impacts on taxing jurisdictions.
Economic development director Carolyn Yatsuk presented the K‑353 redevelopment plan and related ordinance under Chapter 353 of the Revised Statutes of Missouri. The plan declares the identified redevelopment area blighted for the limited purpose of enabling tax abatement under the Urban Redevelopment Corporation law, consistent with the board's economic incentives policy adopted earlier in 2024.
A public hearing required by statute allowed political subdivisions to be heard. The school district provided a written statement (read into the record) thanking staff for collaboration, noting that the abatement is based on future revenue and will not affect current budgeted expenditures, and asking the board to monitor impacts on taxing jurisdictions if the program is widely used. "New revenue is how we pay for salary increases and new positions," the statement read, citing the example of a school resource officer as an expenditure supported by new revenue.
The board approved the redevelopment plan ordinance on 2nd reading with unanimous votes. Staff indicated ongoing monitoring will continue if the abatement program is utilized by developers.
