Board Bill Number 160 Votes | Session 2019-2020

Municipal Courts Building Hotel TIF Redevelopment Plan and Agreement

Board Bill

1. On July 18, 2017, the City adopted Ordinance No. 70598 (Board Bill No. 70), which, among other things approved that certain Redevelopment Plan titled “Municipal Courts Building Hotel TIF Redevelopment Plan” dated March 23, 2017 concerning the redevelopment of the municipal courts buildings located at 1320 Market (the “Redevelopment Area”) and authorizing tax increment financing in connection therewith in accordance with the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 through 99.865 of the Revised Statutes of Missouri, as amended. 2. On July 18, 2017, the City adopted Ordinance No. 70599, which authorized the execution of a Redevelopment Agreement (the “Agreement”) between the City and the Vertical Realty Advisors, LLC (the “Developer”). Section 3.4 of the Agreement did provide that the Developer shall complete or cause the completion of the project (absent any event of Force Majeure), not later than December 31, 2020. 3. This Board Bill authorizes the execution of an amendment to the Agreement, which extends deadline for the Developer to complete or cause the completion of the project (absent any event of Force Majeure) until June 30, 2021.

View Board Bill 160 details

12/13/2019 Final Passage Vote Results

Noes (0)

No "no" votes recorded

Did Not Vote (2)

Ward Alderman
3 Brandon Bosley
25 Shane Cohn

Abstain (1)

Ward Alderman
7 Jack Coatar

Present (0)

No "present" votes recorded

Absent (5)

Ward Alderman
2 Lisa Middlebrook
8 Annie Rice
11 Sarah Martin
14 Carol Howard
27 Pam Boyd

Vacant Seat (0)

No vacant seat

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