Resolution Number 82 | Session 2020-2021

Globe Building

Resolution

NOW THEREFORE BE IT RESOLVED by the St. Louis Board of Aldermen as follows: 1. The Subsequent Improvements for property at 700-720 North Tucker Blvd. shall be fully exempt from the ad valorem taxes, which would otherwise be imposed thereon for a period of ten (10) years based on 95% of the assessed value of the incremental improvements. 2. For purposes of calculating the tax liability for the Subsequent Improvements, any increase in the assessment of any improvements, from the assessment in effect for such improvements as of the year the project is substantially complete, shall be deemed attributable to the Subsequent Improvements. 3. In accordance with Section 135.963.2 of the Statute, a copy of this resolution shall be forwarded to the Director of Missouri Department of Economic Development within thirty (30) days of its approval.

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Resolution Details

Resolution Session: 2020-2021
Primary Sponsor Jack Coatar
Co-Sponsors Lewis E Reed
Committee Housing, Urban Development and Zoning

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