HomeMy WebLinkAboutRes.3451.12-22-2021 BILL NO. 21-196 RESOLUTION NO. 3 45
RESOLUTION CONVENLNG THE TAX INCREMENT FINANCING
COMMISSION OF THE CITY OF CAPE GIRARDEAU, MISSOURI,
AUTHORIZING THE DISTRIBUTION OF A REQUEST FOR
PROPOSALS, AND AUTHORIZING CERTAIN ACTIONS CONNECTED
THEREWITH.
WHEREAS, the City Council of the City of Cape Girardeau, Missouri (the"City Council"), has
created the Tax Increment Financing Commission of the City of Cape Girardeau, Missouri (the "TIF
Commission"),pursuant to Ordinance No.2968; and
'WHEREAS, the City Council wishes to convene the TIF Commission for the purpose of
considering a new tax increment financing redevelopment plan for 824 Broadway in the City (the
"Redevelopment Area");and
WHEREAS, the City Council desires to disseminate a request for proposals for the
Redevelopment Area in accordance with the applicable City ordinances and the Real Property Tax
Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri,
as amended(the"TIF Act");
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CAPE GIRARDEAU,MISSOURI,AS FOLLOWS:
Section 1. The TIF Commission is hereby convened for the purpose of considering a tax
increment financing redevelopment plan for the Redevelopment Area. The City Manager is hereby
directed to provide notice to the applicable taxing districts that the TIF Commission has been convened
and to request that such taxing districts make the appropriate appointments to the TIF Commission.
Section 2. The City's staff is hereby directed to prepare, publish and distribute a request for
proposals for the proposed Redevelopment Area in the manner required by the applicable City ordinances
and the TIF Act. The City Manager is hereby authorized, on behalf of the City, to determine the parties to
whom the request for proposals shall be mailed.
Section 3. This Resolution shall be in full force and effect from and after its adoption by the
City Council.
PASSED AND ADOPTED THIS DAY OF ,2021.
Bob Fox, ayor
Attest:
-‘11`.23141146N
eee
-73\
t&\
,
Bruce Taylo , eputy City Clerk c �;
.( • = 111 '
el lr"
y-•
—F r
Ylaamt -
Request for Proposals
Esquire Theater Redevelopment Area
City of Cape Girardeau, Missouri
The City of Cape Girardeau, Missouri, is seeking redevelopment proposals for a single parcel of
property located at 824 Broadway, commonly known as the Esquire Theater (the "Redevelopment
Area").
Developers interested in this opportunity must respond with a written proposal to the City. The
City's primary objectives for the Redevelopment Area include (1) redeveloping and rehabilitating
the existing structure, (2) promoting sustainable and economically feasible redevelopment
capable of generating long-term sales tax, utility tax, and property tax revenues for the City and
other taxing jurisdictions, and (3) enhancing the image of the City by promoting high-quality
development or building rehabilitation.
Each proposal must demonstrate that "but for" the use of tax increment financing, the project is
not feasible and would not be completed. Each proposal will be evaluated to determine how well
it supports the City's objectives for the Redevelopment Area and the impact of the proposed
project on the City and other taxing districts (including the projected term for which tax increment
financing will be utilized). Notwithstanding anything herein to the contrary, all alternative bids and
proposals will be considered. The City reserves the right to accept or reject proposals in its sole
discretion.
Proposals must be received no later than 12:00 noon central time on January 24, 2022. Proposals
should be directed to the office of the City Manager, City Hall, 401 Independence Street, Cape
Girardeau, Missouri 63701. Interested parties may contact Molly Mehner, Deputy City Manager,
at (573) 339-6320 for further information regarding this request.