2350 S. Grand Community Improvement District
Details about the 2350 S. Grand Community Improvement District
A community improvement district, to be known as the “2350 South Grand Community Improvement District” (hereinafter referred to as the “District”), is hereby established pursuant to the CID Act on certain real property described below to contract with a private property owner to demolish and remove an existing building within the CID and to provide services, construct improvements, impose taxes, and carry out other functions as set forth in the Petition, which is attached hereto as Appendix A and incorporated herein by this reference.
The District boundaries are set forth in the Petition and are generally described as follows: Beginning at the intersection of the North line of Sidney Street, 60 feet wide, and the East line of Grand Avenue, 100 feet wide (80 feet wide plus 20 foot widening on the West side of Grand Avenue), thence Easterly along the North line of Sidney Street 109.65 15 feet; thence Northerly 128.0 feet on the South line of a 15 foot wide alley; thence Westerly along the said South line of said 15 foot wide alley and parallel with the said North line of Sidney Street 109.30 feet to the said East line of Grand Avenue; thence Southwardly along the said East line of Grand Avenue 128.0 feet to the point of beginning.
Serving Beyond Term
Serving Beyond Term
Serving Beyond Term
St. Louis City Ordinance 69952 Document
Board Duties and Purpose
The District is authorized by the Petition, in accordance with the CID Act, to impose a tax upon retail sales within the District to provide funds to accomplish any power, duty or purpose of the District.
The District is authorized by the CID Act, at any time, to issue obligations, or to enter into agreements with other entities with the authority to issue obligations, for the purpose of carrying out any of its powers, duties, or purposes. Such obligations shall be payable out of all, part or any combination of the revenues of the District and may be further secured by all or any art of any property or any interest in any property by mortgage or any other security interest granted. Such obligations shall be authorized by resolution of the District, and if issued by the District, shall bear such date or dates, and shall mature at such time or times, but not more than twenty (20) years from the date of issuance, as the resolution shall specify. Such obligations shall be in such denomination, bear interest at such rate or rates, be in such form, be payable in such place or places, be subject to redemption as such resolution may provide and be sold at either public or private sale at such prices as the District shall determine subject to the provisions of Mo. Rev. Stat. §108.170.
The District is also authorized to issue such obligations to refund, in whole or part, obligations previously issued by the District.
Member RequirementsAppointments require Board of Aldermen approval.
The Petition provides that the District shall be governed by a Board of Directors consisting of five 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 the qualifications set forth in the Petition. Upon expiration of the terms of the initial Directors, successive Directors shall be appointed from a slate approved by the Directors and by the Mayor wit the consent of the Board of Aldermen in accordance with the Act.
Successor Directors shall serve four (4) year terms on the Board and shall be appointed by the Mayor with the consent of the Board of Aldermen according to the slate submitted to the Mayor by the Board.
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