Ordinance 71600
RPA 6 Notes
Summary
This Board Bill authorizes issuance of RPA 6 Notes not to exceed $4.6 million; authorizes execution of a Second Amendment to Amended and Restated Redevelopment Agreement; and authorizes execution of an Eighth Supplemental Trust Indenture relating to RPA 6 notes, pursuant to which RPA 4 and RPA 8 TIF Revenues are declared as “surplus” and passed through to taxing districts. Pursuant to the Second Amendment to Amended and Restated Redevelopment Agreement, among the RPA 4, 6, and 8 projects, only the RPA 6 project, a ~$50 million mixed-use residential project including ~$4.6 million of public realm improvements, will have access to TIF until further review and approval is obtained. Pursuant to Section 2.F. of the Sub-Developer Parcel Development Agreement attached as an exhibit to the Second Amendment to Amended and Restated Redevelopment Agreement, Sub-Developer is agreeing to certain monthly rent restrictions (described therein) and a $250,000 contribution to the City’s Affordable Housing Trust Fund. In addition, pursuant to Section 403(b) of the Eighth Supplemental Trust Indenture, the City will capture 10% of RPA 6 TIF Revenues (after Comptroller administrative fees are deducted) for the newly-established Strategic Infrastructure for Economic Growth Fund.
Download
Overview
Session: 2022-2023
Board Bill Number: 114
Primary Sponsors: Tina (Sweet-T) Pihl
Effective: 01/20/2023
Legislative History
Legislative activities and outcomes for this board bill. Learn more about what these activities mean.
-
10/28/2022
First Reading
Bill text was introduced (1.27 MB PDF).
10/28/2022Referred to a Committee
The bill was assigned to the Housing, Urban Development and Zoning Committee.
11/17/2022Committee Hearing
The bill was passed out of committee with a recommendation of do pass during the Housing, Urban Development and Zoning Committee hearing.
11/18/2022Second Reading
12/01/2022Perfection
The bill was passed.
12/09/2022Engrossment
The bill was engrossed during the Engrossment, Rules, Resolutions and Credentials Committee.
12/09/2022Third Reading
The bill was passed.
12/09/2022Delivered to Mayor
12/20/2022Mayor Returns Bill
The bill was approved.
12/20/2022Delivered to Register
12/29/2022Register Returns Notice with Ordinance Number
Register returns ordinance number 71600. Effective date is 01/20/2023
Help Us Improve This Page
Did you notice an error? Is there information that you expected to find on this page, but didn't? Let us know below, and we'll work on it.
Feedback is anonymous.
You are leaving the City of St. Louis website
You should be redirected in a few seconds. If this fails, here's the link: