620 Market Community Improvement District
Details about the 620 Market Community Improvement District
An ordinance approving the petition of 620 Market Building, LLC and STL Market BNK, LCC a owners of certain real property, to establish a CID, establishing the 620 Market CID, finding a public purpose for the establishment of the 620 Market CID, and containing a severability clause.
Part of Lot 2 of Tract 9 of “Civic Center Subdivision Plat 4: according to the plat thereof recorded in Plat Book 37 page 46 of the City of St. Louis Records and being also part of Block 6464 of the City of St. Louis, Missouri, being more particularly described as follows:
Beginning at the southwest corner of said Lot 2 having coordinates 97053.983 North and 211873.066 East; thence northwardly along the west line of said Lot 2 being also the east line of 7th Street, 74 feet wide, along a curve to the left having a radius of 310.792 feet, an arc distance of 114.134 feet to the point of tangency of said curve and having coordinates 97154.164 North and 211926.400 East; thence continuing along said line North 17°30’33” East 95.237 feet to the point of curvature of a 20 foot radius rounding curve having coordinates 97244.989 North and 211955.053 East; thence along said rounding curve to the right an arc distance of 31.425 feet to the point of tangency of said curve and being also a point in the south line of Market Street, 112 feet wide, and having coordinates 97258.042 North and 211980.152 East; thence eastwardly along said south line of Market Street, South 72°27’51” East 97.460 feet to a point having coordinates 97228.677 North and 212073.083 East; thence southwardly along a line parallel with the east line of said Lot 2, South 17°32’09” West 222.970 feet to a point in the south line of said Lot 2, being also a point in the north line of Walnut Street, 85 feet wide, and having coordinates 97016.069 North and 212005.902 East; thence westwardly along said line along a curve to the left having a radius of 2300.000 feet, an arc distance of 138.172 feet to the point of beginning.
|Thomas (Mike) Shannon||Chairperson||06/30/2023|
Ordinance 67154; Mo. Rev. Stat. Sections 67.1401 through 67.1571.
Board Duties and Purpose
According to the Petition, the District is designed to provide a source of revenue and to facilitate community improvement projects to increase the use and value of and, cure conditions of blight previously found by the City of St. Louis as described herein within, the property in the District.
In addition to providing for and causing the completion of the Project, the purposes of the District are to:
(a) Issues notes or other obligations of the District to fund the cost of the Project ("District Obligations");
(b) Enter into contracts or other agreements in order to complete or cause completion of the Project and fulfillment of the other purposes of the District;
(c) Levy retail sales and use tax in accordance with the Act (the "District Sales Tax"); and
(d) Attempt to remediate the conditions that cause certain District Property to be a blighted area as previously determined by the City of St. Louis; and
(e) Exercise any authorized purpose of the District pursuant to and in accordance with the Act.
Member RequirementsAppointments require Board of Aldermen approval.
The petition provides that the District Shall be governed by a Board of Directors consisting of five (5) individual directors (collectively the "Directors" and each a "Director"), such Directors to be appointed by the Mayor of the City with the consent of the Board of Aldermen, in accordance with the CID Act and shall be established upon such initial appointment, provided that the term of office for all successor directors shall be four (4) years, as permitted by the Act.
Each Director, during his or her term, shall meet the following requirements:
(a) be at least 18 years of age; and
(b) either be an owner of real property or their legally authorized representative within the District ("Owner"), an owner of a business or their legally authorized representative operating within the District ("Operator").
Questions and Feedback
If you have questions or any feedback about this content, please contact:
Special Assistant to the Mayor for Boards and Commissions
Email & full profile