Ordinance 67321

Summary

BOARD BILL # 274 INTRODUCED BY ALDERMAN ALFRED WESSELS, JR. AN ORDINANCE IMPLEMENTING CERTAIN PROVISIONS OF THE MISSOURI DOWNTOWN AND RURAL ECONOMIC STIMULUS ACT BY ESTABLISHING A COMMUNITY DEVELOPMENT CORPORATION REVOLVING FUND (THE “FUND”); AUTHORIZING THE APPOINTMENT OF A BOARD PURSUANT TO SECTION 99.939 OF THE REVISED STATUTES OF MISSOURI, AS AMENDED, TO ADMINISTER THE FUND; AUTHORIZING THE MAYOR OF THE CITY OF ST. LOUIS, ON BEHALF OF SAID CITY, TO APPLY TO THE MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT FOR ONE OR MORE GRANTS FOR DEPOSIT TO THE FUND; AUTHORIZING THE BOARD TO ESTABLISH BY-LAWS REGARDING ITS PROCEEDINGS; AUTHORIZING THE BOARD TO PERFORM DUTIES RELATED TO THE FUND AS AUTHORIZED BY MISSOURI STATUTE; APPROVING A DISADVANTAGED BUSINESS ENTERPRISE PROGRAM; AND CONTAINING A SEVERABILITY CLAUSE

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