Ordinance 71377

Issuance of Taxable Industrial Revenue Bonds

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Summary

This Board Bill will authorize the issuance of taxable industrial revenue bonds to facilitate a sales and use tax exemption on construction materials purchased in connection with the multi-family residential, office, retail and structured parking portions of the RPA 2 Redevelopment Project described in the City Foundry Saint Louis Tax Increment Financing (TIF) Second Amended RPA 2 Redevelopment Plan. The bonds are payable only from lease revenues paid by the Developer and not from any City tax revenues. Additionally, the Board Bill (see Section 3.1 of Exhibit F) requires the Developer to make a $1,800,000 Equitable Development Contribution to the Affordable Housing Trust Fund, which will be used for affordable housing purposes in the 17th Ward and North of Delmar.

Download

St. Louis City Ordinance 71377 Document (1.66 MB PDF)

Overview

Session: 2021-2022

Board Bill Number: 73

Primary Sponsors: Tina (Sweet-T) Pihl

Effective: 08/30/2021

Legislative History

Legislative activities and outcomes for this board bill. Learn more about what these activities mean.

  • 07/01/2021

    First Reading

    Bill text was introduced (1.78 MB PDF).

  • 07/01/2021

    Referred to a Committee

    The bill was assigned to the Housing, Urban Development and Zoning Committee.

  • 07/07/2021

    Committee Hearing

    The bill was passed out of committee with a recommendation of do pass during the Housing, Urban Development and Zoning Committee hearing.

  • 07/09/2021

    Second Reading

  • 07/13/2021

    Perfection

    The bill was passed.

  • 07/15/2021

    Engrossment

    The bill was engrossed during the Engrossment, Rules, Resolutions and Credentials Committee.

  • 07/16/2021

    Third Reading

    The bill was passed.

  • 07/16/2021

    Delivered to Mayor

  • 08/02/2021

    Mayor Returns Bill

    The bill was approved.

  • 08/03/2021

    Delivered to Register

  • 08/04/2021

    Register Returns Notice with Ordinance Number

    Register returns ordinance number 71377. Effective date is 08/30/2021

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