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Council.Agenda.03-02-2026.Packet
Mark Bliss, Ward 6 David J Cantrell, Ward 4 Bryan Johnson, Ward 5 Stacy Kinder, Mayor Dan Presson, Ward 1 Tameka Randle, Ward 2 Nate Thomas, Ward 3 CITY OF CAPE GIRARDEAU, MISSOURI City Council Council Regular Session Agenda March 2, 2026 5:00 PM City Hall Council Chambers 44 N. Lorimier Street Cape Girardeau, MO 63701 Agenda Documents, Videos Minutes, and Other Information: www.cityofcape.org/citycouncil City residents desiring to speak about items NOT on the agenda must register no later than noon on Saturday, February 28, 2026, by using the form found at cityofcape.org/council, by emailing cityclerk@cityofcape.org, or by calling 573-339-6320. Invocation Pastor Daniel Seabaugh of La Croix Church in Cape Girardeau Pledge of Allegiance Study Session Safe Return Presentation by Ginny Smith with Cape Girardeau County Transit Authority. Presentations Communications/Reports Items for Discussion Appearances by Advisory Board Applicants Consent Agenda Review Regular Session A. Call to Order/Roll Call B. Adoption of the Agenda C. Public Hearings C.1. A public hearing to consider a Petition for the Formation of the Cape West Plaza Community Improvement District and to consider the proposed development plan for property located at 242 and 330 Siemers Drive and on the requested tax abatement under Chapter 353 of the Revised Statutes of Missouri. (Item Nos. F.1 and F.2, BILL NOs. 26-16 and 26-17). C.2. A Public Hearing to consider a request to rezone property located at 803 Independence Street from C-1 (General Commercial District) to R-4 (Medium Density Multifamily Residential District). (Item No. F.3., BILL NO. 26-18). D. Consent Agenda The Consent Agenda is a meeting method to make City Council meetings more efficient and meaningful to the members of the audience. All matters listed within the Consent Agenda have been distributed to each member of the Cape Girardeau City Council for reading and study, are considered to be routine, and will be enacted by one motion of the council with no separate discussion. Staff recommends approval of the Consent Agenda. If separate discussion is desired, that item may be removed from the Consent Agenda and placed on the Regular Agenda by request of a member of the City Council. D.1. Approval of the February 17, 2026, Regular Session City Council Minutes. D.2. BILL NO 26-14, an Ordinance accepting a Permanent Utility Easement from C&L Quality Construction, LLC for Lot 24 of Rock Gardens Subdivision, in the City of Cape Girardeau, Missouri. Second and Third Readings. D.3. BILL NO. 26-15, a Resolution authorizing the City Manager to execute a Performance Guarantee Agreement with Forefront Holdings, LLC, for improvements for Deer Run Estates Phase 2, in the City of Cape Girardeau, Missouri. Reading and Passage. E. Items Removed from Consent Agenda F. New Ordinances Mayor will ask for appearances after each Ordinance is read. Individuals who wish to make comments regarding the item must be recognized by the Mayor/Mayor Pro Tempore. Each speaker is allowed 3 minutes and must stand at the public microphone and state his/her name and address for the record. The timer will buzz at the end of the speaker's time. F.1. BILL NO. 26-16, an Ordinance approving an Amended and Restated Petition for the creation of a Community Improvement District; establishing the Cape West Plaza Community Improvement District as a political subdivision of the State of Missouri; and authorizing the City to enter into certain agreements and take certain other actions in connection therewith. First Reading. DEV - Trevor Pulley F.2. BILL NO. 26-17, an Ordinance designating a certain tract of land in the City of Cape Girardeau, Missouri, as a blighted area; approving the Cape West Plaza Development Plan; approving a redevelopment agreement in connection with the development plan; and authorizing the City to enter into certain agreements and take certain other actions in connection therewith. First Reading. DEV - Trevor Pulley F.3. BILL NO. 26-18, an Ordinance amending Chapter 30 of the Code of Ordinances of the City of Cape Girardeau, Missouri, by changing the zoning of property located at 803 Independence Street, in the City and County of Cape Girardeau, Missouri, from C-1 to R-4. First Reading. DEV - Ryan Shrimplin F.4. BILL NO. 26-19, an Ordinance approving the record plat of Q's Corner Subdivision. First Reading. DEV - Ryan Shrimplin F.5. BILL NO. 26-20, an Ordinance approving the record plat of Broadview On The Hill. First Reading. DEV - Ryan Shrimplin F.6. BILL NO. 26-21, an Ordinance approving the record plat of Deer Run Estates Phase 2. First Reading. DEV - Ryan Shrimplin F.7. BILL NO. 26-22, an Ordinance approving the record plat of Blank's Second Subdivision. First Reading. DEV - Ryan Shrimplin G. Appointments H. Other Business I. Appearances regarding items not listed on the agenda This is an opportunity for the City Council to listen to comments regarding items not listed on the agenda. The Mayor may refer any matter brought up to the City Council to the City Manager if action is needed. Individuals who wish to make comments must first be recognized by the Mayor or Mayor Pro Tempore. Each speaker is allowed 3 minutes. Please face and speak directly to the City Council as a whole. The Mayor and Council Members will not engage or answer questions during the speaker's time at the podium. The timer will sound at the end of the speaker's time. Meeting Adjournment Closed Session The City Council of the City of Cape Girardeau, Missouri, may, as a part of a study session or regular or special City Council meeting, vote to hold a closed session to discuss issues listed in RSMo. Section 610.021, including but not limited to: legal actions, causes of legal action or litigation, leasing, purchasing or sale of real estate, hiring, firing, disciplining, personnel issues, or confidential or privileged communications with its attorneys. Future Appointments and Memos Appointment to the Golf Course Advisory Board Advisory Board Minutes Staff: Trevor Pulley, Assistant City Manager Agenda: March 2, 2026 TITLE AGENDA REPORT Cape Girardeau City Council A public hearing to consider a Petition for the Formation of the Cape West Plaza Community Improvement District and to consider the proposed development plan for property located at 242 and 330 Siemers Drive and on the requested tax abatement under Chapter 353 of the Revised Statutes of Missouri. (Item Nos. F.1 and F.2, BILL NOs. 26-16 and 26-17). SUMMARY The public hearing is to consider the 353 redevelopment agreement and creation of the CID at 242 and 330 Simmers drive (Old Sears building). Sears Grand closed in October 2019, along with approximately two dozen other stores nationwide. Since that time, this large anchor building has remained predominantly vacant. Aside from limited seasonal use of small portions of the space. A blight study was conducted and confirmed the development area was deemed "Blighted." Redevelopment Project: o Sears Grand Site: the building is approximately 142,000 square feet. The development will include partial demolition and complete renovation to convert the property from a single commercial use to a multi -tenant commercial use — construction is expected to last 12-14 months In -Line Stores: exterior renovations include demolition, removal and replacement of sidewalks, asphalt overlay and re -striping of parking lot, repair and paint building fagade, install brick fagade to existing columns of the building, demolition and replacement of the roof, retrofit existing parking lot lights to LED and paint light poles, reimage existing exterior signage and enhance landscaping. This building is approximately 114,00 square feet built between 1996 and 1998. o Two legal parcels totaling approximately 20.25 acres Incentives for this project are: Legal Authority: Chapter 353 of the Missouri Revised Statutes ("Chapter 353") and Chapter 28 of the City Code. Partial Real Estate Tax Abatement Under Chapter 353: o First 10 years following completion of each parcel: 100% abatement of any incremental increase in equalized assessed valuation above the January 1, 2025 assessed value o Next 15 years for each parcel: 50% abatement of the real estate taxes on land and improvements Community Improvement District: Establish a CID Drury proposes to create a CID within the Redevelopment Area to impose (1) a sales and use tax at the rate of I% and (2) a special assessment in an amount roughly equivalent to the value of the real property tax abatement granted under Chapter 353, which will be imposed on each parcel within the CID in the same years that such parcel is receiving tax abatement under Chapter 353. ■ CID will terminate at the earlier of (1) 27 years after the CID is created or (2) payment of CID obligations in the principal amount of $27,500,000 plus all City application fees, permit fees and other fees incurred in connection with the CID Project plus issuance costs. ■ This is a 1% tax they impose on their goods. Sales Tax Exemption on Construction Materials: Chapter 100 o Drury proposes that the City grant sales and use tax exemption on qualified building material necessary to construct the Redevelopment Project under Chapter 100 of the Missouri Revised Statutes. Estimated Value of All Incentives: $11,727,500 • Approximately $11.500.000 for the Chapter 353 tax abatement and CID (total capped pursuant to the Redevelopment Agreement) • Approximately $227.500 for the Chapter 100 sales and use tax exemption • Estimated Value: $227.500. Benefits to City: • Approximately $330,000 annually in new sales tax revenue (2.75%) from new tenants • Approximately $13,000,000 in sales tax revenue (2.75%) from all tenants (existing and new) within the Redevelopment Area over a 10 -year period • Turn long -vacant Sears Grand site into a multi -tenant commercial use, creating jobs within the City • Additional personal property tax revenues in first 10 years, additional real and personal property tax revenues during next 15 years Benefits to Other Taxing Entities: • Significant additional sales tax revenue to the County from new tenants • Additional personal property tax revenues in first 10 years, additional real and personal property tax revenues during next 15 years FINANCIAL IMPACT • Estimated Value of All Incentives: $11.727.500 • Approximately $11.500.000 for the Chapter 353 tax abatement and CID (total capped pursuant to the Redevelopment Agreement) • Approximately $227.500 for the Chapter 100 sales and use tax exemption • Estimated Value: $227.500. SUSTAINABILITY: ECONOMIC, ENVIRONMENTAL AND SOCIAL IMPACTS • Approximately $330,000 annually in new sales tax revenue (2.75%) from new tenants • Approximately $13,000,000 in sales tax revenue (2.75%) from all tenants (existing and new) within the Redevelopment Area over a I0 -year period • Turn long -vacant Sears Grand site into a multi -tenant commercial use, creating jobs within the City • Additional personal property tax revenues in first 10 years, additional real and personal property tax revenues during next 15 years STAFF RECOMMENDATION It is recommended the City Council conduct the public hearing. PUBLIC OUTREACH The proposed project was presented at the February 17, 2026, Council Study Session. Notices of a Public Hearing concerning the formation of the Cape West Plaza Community Improvement District and proposed use of Missouri Revised Statues Chapter 353 tax abatement were published in the Southeast Missourian newspaper. ATTACHMENTS Cape West Plaza CID Petition AMENDED Executed Notarized 20260225.pdf Cape West Plaza Ch 353 Plan_20260225.pdf AMENDED AND RESTATED PETITION FOR THE CREATION OF A COMMUNITY IMPROVEMENT DISTRICT To the City of Cape Girardeau, Missouri: The undersigned petitioners (together, "Petitioners' are the owners or representatives of the owners of record of more than fifty percent (50%) (a) by assessed value of all real property within the hereinafter described community improvement district, and (b) per capita of all owners of real property within such community improvement district. Petitioners hereby petition and request that the City of Cape Girardeau, Missouri (the "City"), create a community improvement district as described herein, to be known as the CAPE WEST PLAZA COMMUNITY IMPROVEMENT DISTRICT (the "District"), pursuant to the authority of the Community Improvement District Act, Sections 67.1401 to 67.1571 of the Revised Statutes of Missouri, as amended (the "CID Act"). The proposed District is contiguous and located entirely within the City. 2. A legal description of the proposed District is set forth as Exhibit A, attached hereto and incorporated herein by reference. A map illustrating the boundaries of the proposed District is set forth as Exhibit B, attached hereto and incorporated herein by reference. The name of the proposed District is the Cape West Plaza Community Improvement District. 4. The proposed District consists of approximately 20.25 acres, and all real property located within the proposed District has a total current assessed value of approximately $3,651,980. Petitioners represent 100% per capita of all owners of record of the real property located within the boundaries of the proposed District, and 100% by assessed value of all real property within the boundaries of the proposed District, as more particularly described in the Petitioners' signature block to this Amended and Restated Petitionforthe Creationofa Community Improvement District (this "Petition") and as set forth in the table below 1. Owner Situs Address Parcel Number Acres Assessed Value Drury AT 2024, LLC 330 Siemers Drive, Cape Girardeau, MO 63701 20-309-00-02-005.00-0000 10.85 $1,721,270 Drury Land Development, Inc. 242 Siemers Drive, Cape Girardeau, MO 63703 20-309-00-02-004.00-2000 8.87 $1,760,820 Drury Land Development, Inc. 262 Siemers Drive, Cape Girardeau, MO 63703 20-309-00-02-004.00-2001 0.53 $ 169,890 Totals: 20.25 $3,651,980 The boundaries of the proposed District are comprised of two legal parcels located at 242 and 330 Siemers Drive in the City. Pursuant to a triple net ground lease, a portion of 242 Siemers Drive is leased to D&B Properties, Inc. and occupied by a standalone Sonic restaurant. The Sonic restaurant has a sheet address of 262 Siemers Drive. Because D&B Properties, Inc. is required to pay all taxes and assessments with respect to the property at 262 Siemers Drive, the Cape Girardeau County Assessor has assigned the 262 Siemers Drive property its own tax parcel identification number, even thoughno separate legal parcel exists. In addition, the Cape Girardeau County Assessor's records reflect D&B Properties, Inc. as the "deed holder" of such property; however, a representative from the Cape Girardeau Comity Assessor's office has confirmed that such designation is solely for tax assessment and billing purposes. The proposed District shall be formed as a political subdivision governed by a board of directors composedof fivedirectors appointedbythe Mayorofthe City,with the consentofthe City Council. Each director shall, during his or her term, meet the qualifications of Section 67.1451.2 of the CID Act, provided that two of the directors shall meet the requirements of Section 67.1451.2(3) of the CID Act. In addition, so long as either or both Petitioners own any real property within the District, three of the five directors shall be legally authorized representatives of such Petitioner(s). Successor directors shall be appointed in the same manner. Successor directors shall serve for a term of four years. The Petitioners hereby request that the Mayor, with the consent of the City Council, appoint the initial directors with the respective terms of office as set forth in the table below: Name Initial Term Mike Prehm 4 years Mike Jost 4 years Julie Freed 2 years An individual who meets the requirements of 2 years Section 67.1451.2(3) of the CID Act (e.g. a City resident without financial interest An individual who meets the requirements of 2 years Section 67.1451.2(3) of the CID Act (e.g. a City resident without financial interest Petitioners are requesting that the City declare the real property of the proposed District as set forth in Exhibit A to be a "blighted area" pursuant to Section 67.1401.2(3) of the CID Act, which requires that such blighted area meet the requirements set forth in Section 99.805 of the Revised Statutes of Missouri, as amended. 9. Petitioners do not seek any limitations on the borrowing capacity of the proposed District. Notwithstanding anything in this Petition to the contrary, obligations issued by or on behalf of the proposed District to finance the costs of the CID Project (as defined herein) may be issued in one or more phases. 10. Petitioners do not seek limitations on the revenue generation of the proposed District, except as otherwise provided in this Petition. 11. The proposed District shall have all powers provided in the CID Act, except as otherwise provided in this Petition. 12. The proposed District shall be authorized, upon approval by the qualified voters of the proposed District, to impose a sales and use tax (the "CID Sales Tax") at a rate of up to one percent (1%) on all eligible retail sales made in the proposed District in accordance with Section 67.1545 of the CID Act, for the duration permitted by the CID Act. 13. The proposed District shall also be authorized to impose an annual special assessment on each tract, lot or parcel located in the proposed District (the "Special Assessments' in accordance with Section 67.1521 of the CID Act, for a period of time not to exceed the length of time for the existence of the District. 2 14. The Special Assessments shall be levied against tracts, lots or parcels benefited within the proposed District in an annual amount not to exceed the greater of (a) the difference between (1) the property taxes that would have otherwise been payable on such real property and the improvements thereon but for the real property exemption granted by the City pursuant to Section 3 53.110 of the Revised Statutes of Missouri, as amended, and (2) the sum of any taxes and payments in lieu of taxes paid with respect thereto, or (b) the annual special assessment schedule set forth as a schedule to the Petition for Special Assessments described in Paragraph 15 of this Petition. 15. A petition authorizingthe Special Assessments (the "PetitioiiforSpeeialAssessineiits'� is set forffi as Exhibit C, attached hereto and incorporated herein by reference, which petition is substantially in the form provided for in Section 67.1521.2 of the CID Act. Upon the City's adoption of an ordinance approving this Petition (the "Ordinance"), Petitioners hereby request the City Cleric forward a certified copy of the Ordinance and this Petition (including the Petition for Special Assessments) to the board of directors of the proposed District. The receipt of such Ordinance and Petition (including the Petition for Special Assessments) shall enable the board of directors of the proposed Districtto levythe Special Assessments byresolution in accordance with Section 67.1521 of the CID Act. To the extent that the Special Assessments collected and received by the District exceed the amount necessary to finance CID Project costs of $11,500,000 (excluding all City application fees, permit fees and other fees incurred in connection with the CID Project (which, in the aggregate, shall not exceed $200,000), Costs of Issuance', if any, and the proposed District's administrative fees and expenses including, butnot limitedto, fees and costs related to the proposed District's formation, planning consultants, advisors, auditors and legal counsel), as more particularly described in the Petition for Special Assessments, any excess funds shall be refunded to the owners of such tracts, lots or parcels that paid the final year of Special Assessments, pro rata relative to the amounts paid by such owners. Such refunds shall be made by December 31 of the year following the final year of the Special Assessments. 16. The Special Assessments shall not be levied on any property that is exempt from taxation pursuant to Section 137.100.5 of the Revised Statutes of Missouri, as amended, unless the owner of such property agrees to voluntarily participate in the provisions of the CID Act and the payment of the proposed District's Special Assessments in accordance with Section 67.1461.8 of the CID Act. 17. Notwithstanding anything in the CID Act orthis Petition to the contrary,the proposed District shall have no power to levy real property taxes or business license taxes and, therefore, the maximum rates of real property taxes and business license taxes proposed in this Petition are zero. 18. A five-year plan stating a description of the purposes of the proposed District, the services it will provide, the improvements it will make and an estimate of the costs of these services and improvements to be incurred (collectively, the "CID Project") is set forth in Exhibit D, attached hereto and incorporated herein by reference. It is anticipated that the proposed District will use the moneys received fromthe impositionof the CID Sales Tax and Special Assessments to finance and reimburse those eligible CID Project costs incurred on its behalf. 19. The estimated cost of the CID Project is $22,950,915 (excluding all City application fees, permit fees and other fees incurred in connection with the CID Project (which, in the aggregate, shall not 2 "Costs of Issuance" shall mean all costs reasonably incurred by the proposed District in furtherance of the issuance of any bonds or notes, singly or in series, issued by or on behalf of the proposed District pursuant to the CID Act, if any, including but not limited to the fees and expenses of financial advisors, municipal advisors and consultants, the proposed District's attorneys (including issuer's counsel and bond counsel), underwriters' discounts and fees, the costs of printing any obligations of the proposed District and any official statements relating thereto, the costs, if any, of credit enhancement, capitalized interest, debt service reserves and the fees of any rating agency rating any obligations of the proposed District. exceed $200,000), Costs of Issuance, if any, and the proposed District's administrative fees and expenses including, but not limited to, fees and costs related to the proposed District's formation, planning consultants, advisors, auditors and legal counsel), as more particularly described in Exhibit D. 20. The proposed District's Board of Directors shall commence the procedures provided in the CID Act for the termination of the proposed District upon the earlier to occur of the following: (a) all of the proposed District's obligations used to finance and reimburse all of the eligible CID Project costs incurred within the boundaries of the proposed District having been fully paid or cancelled in accordance with the terms ofthe CID Act, or (b) 27 years from the date of adoption ofthe Ordinance unless the term of the proposed District is otherwise extended pursuant to Section 67.1481.6 of the CID Act. For the purposes of the CID Act, this paragraph constitutes the proposed length of time for the existence of the proposed District. 21. The signatures of each signer of this Petition may not be withdrawn later than seven days after this Petition is filed with the City Clerk. 22. Petitioners respectfully request that the proposed District be established pursuant to the CID Act. Dated this 25th day of February, 2026. (The remainder of this page is intentionally left blank.) PETITIONERS: NAME OF OWNER: Drury AT 2024, LLC TELEPHONE NUMBER: 314-423-6698 MAILING ADDRESS: 13075 Manchester Road, Suite 200 St. Louis, Missouri 63131 NAME OF SIGNER AND BASIS OF Anthony C. Right, Senior Vice President and Chief LEGAL AUTHORITY TO SIGN: Financial Officer of Drury Development Corporation, Owner's Member/Manager SIGNER'S TELEPHONE NUMBER: 314-423-6698 SIGNER'S MAILING ADDRESS: 13075 Manchester Road, Suite 200 St. Louis, Missouri 63131 TYPE OF ENTITY: A Missouri limited liability company MAP: See Exhibit B PARCEL NUMBERS: ASSESSED VALUE: 20-309-00-02-005.00-0000 $1,721,270 NAME OF OWNER: Drury Land Development, Inc. TELEPHONE NUMBER: 314-423-6698 MAILING ADDRESS: 13075 Manchester Road, Suite 200 St. Louis, Missouri 63131 NAME OF SIGNER AND BASIS OF Anthony C. Right, Senior Vice President and Chief LEGAL AUTHORITY TO SIGN: Financial Officer of Drury Development Corporation, Owner's Sole Shareholder SIGNER'S TELEPHONE NUMBER: 314-423-6698 SIGNER'S MAILING ADDRESS: 13075 Manchester Road, Suite 200 St. Louis, Missouri 63131 TYPE OF ENTITY: A Missouri corporation MAP: See Exhibit B PARCEL NUMBERS: ASSESSED VALUE: 20-309-00-02-004.00-2000 $1,760,820 20-309-00-02-004.00-2001 $ 169,890 [SIGNATURE PAGES OF PETITIONERS FOLLOW] By executing this Petition on this 25th day of February, 2026, the undersigned represents and warrants thathe is authorized to executethis Petition on behalf ofDrury AT2024,LLC, one of the properly owners named above. The undersigned also acknowledges that his signature may not be withdrawn later than seven (7) days after this Petition is filed with the City Clerk. STATE OF MISSOURI SS. COUNTY OF ST. LOUIS DRURY AT 2024, LLC, a Missouri limited liability company By: Drury Development Corporation, Member/Manager By. C Anthony C. Right, Se or Vice President and Chief Financial Officer Onthis25thday of February in the year 2026 before me, 04 -end An terl a Notary Public in and for said state, personally appeared Anthony C. Right, Senior Vice President and Chief Financial Officer of Drury Development Corporation, Member/Manager of Drury AT 2024, LLC, known to me to be the person who executed the within Petition in behalf of said limited liability company and acknowledged to me he executed the same for the purposes therein stated. WITNESS my hand and official seal this 25th day of February, 2026. -V`— Notary Publ /y4 `�e� / CHERYL ANN KERN Printed Name: l' [ IV Notary Public - Notary Seat STATE OF MISSOURI St. Louis City My Commission Expires: A06 ' o2do2 My Commission Expires: Apr. 28, 2029 Commission # 13504650 [SIGNATURE PAGE OF PETITIONER DRURY AT 2024, LLC] By executing this Petition on this 25th day of February, 2026, the undersigned represents and warrants that he is authorized to execute this Petition on behalf of Drury Land Development, Inc., one of the property owners named above. The undersigned also acknowledges that his signature may not be withdrawn later than seven (7) days after this Petition is filed with the City Clerk. STATE OF MISSOURI W1 COUNTY OF ST. LOUIS DRURY LAND DEVELOPMENT, INC., a Missouri corporation By: Drury Development Corporation, Sole Shareholder By. C ��A Anthony Cf Right, SeUor Vice President and Chief Financial Officer On this 25th day of Febnrary in the year 2026 before me, NeL-q( &i ee-rA a Notary Public in and for said state, personally appeared Anthony C. Right, Senior Vice President and Chief Financial Officer ofDrury Development Corporation, Sole Shareholder ofDruryLand Development, Inc., known to me to be the person who executed the within Petition in behalf of said corporation and acknowledged to me he executed the same for the purposes therein stated. WITNESS my hand and official seal this 25th day of February, 2026. Notary Publi Printed Name: My Commission Expires: alp, J402I CHERYL ANN KERN Notary Public - Notary Seal STATE OF MISSOURI St. Louis City My Commission Expires: Apr. 28, 2029 Commission # 13504650 [SIGNATURE PAGE OF PETITIONER DRURY LAND DEVELOPMENT, INC.] Exhibit A Legal Description of Proposed District THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY AND COUNTY OF CAPE GIRARDEAU, STATE OF MISSOURI, AND DESCRIBED AS FOLLOWS: ALL OF LOT TWO (2) OF CAPE WEST 12TH SUBDIVISION IN THE CITY AND COUNTYOF CAPE GIRARDEAU, MISSOURI, AS SHOWN BY PLAT FILED IN PLAT BOOK 22 AT PAGE 68. ALSO, PARTOF LOTNO.3 OF CAPE WEST SEVENTH SUBDIVISIONAS SHOWN BYPLATRECORDED IN PLAT BOOK NO. 18 AT PAGE NO. 65, DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHWEST CORNER OF LOT NO.2 OF CAPE WEST 12TH SUBDIVISION AS SHOWN ON PLAT FILED IN BOOK 22, PAGE 68; THENCE N21'4 5'00"W, 592.13' ALONG THE EASTERLY RIGHT OF WAY LINE OF SIEMERS DRIVE TO THE BEGINNING OF A CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 703.15 FEET AND A CENTRAL ANGLE OF 22°29'23" AND A LENGTH OF 276.00 FEET IN A NORTHWESTERLY DIRECTION ALONG SAID CURVE, AND RIGHT OF WAY; TO A POINT AT THE NORTHWEST CORNER OF SAID LOT TWO (2) ON THE EAST RIGHT OF WAY LINE OF SIEMERS DRIVE; THENCE CONTINUING ALONG THE CURVE FOR 10.39' HAVING A RADIUS OF 703.15 FEET AND A CENTRAL ANGLE OF 00° 50'48"; THENCE CONTINUING ALONG SAID RIGHT OF WAY LINE THE FOLLOWING COURSES AND DISTANCES: N45 °05' 12"W, 156.61 FEET TO THE BEGINNING OF A CURVE CONCAVE TO THE NORTHEAST HAVING A RADIUS OF 660.00 FEET AND A CENTRAL ANGLE OF 23'20'12"; THENCE ALONG SAID CURVE IN A NORTHWESTERLY DIRECTION 268.82 FEET; THENCE N21- 45'00"W, 97.69 FEET; THENCE S68°15' 00"W, 10.00 FEET; THENCE N21- 45' 00"W, 51.21 FEET TO THE SOUTHWEST CORNER OF LOT 3 A OF CAPE WEST SEVENTH AS SHOWN BY PLAT RECORDED IN PLAT BOOK NO. 18 PAGE NO. 65; THENCE DEPARTING SAID RIGHT OF WAY LINE ALONG THE SOUTH LINE OF SAID LOT 3A THE FOLLOWING COURSES AND DISTANCES; N68 '15'00"E, 343.05 FEET; THENCE N21- 45' 00"W, 132.59' FEET; THENCE N68° 15'00"E, 210.00 FEET; THENCE S21 '45'00"E, 124.59 FEET; THENCE N68° 15' 00" E, 170.50 FEET TO THE SOUTHEAST CORNER OF SAID LOT 3A OF CAPE WEST SEVENTH, SAID POINT ALSO BEING ON THE WEST RIGHT OF WAY LINE OF INTERSTATE 55; THENCE S21 -45'00"E, 559.13' ALONG SAID WEST RIGHT OF WAY TO THE NORTHEAST CORNER OF SAID LOT TWO (2) OF CAPE WEST 12TH SUBDIVISION; THENCE S21 -45'00"E, 54.33 FEET; THENCE S68° 15'00" W, 40.00 FEET; THENCE S21° 45'00"E, 30.00 FEET; THENCE N680 15'00"E, 40.00 FEET TO A POINT TO THE AFORESAID WESTERLY RIGHT OF WAY LINE OF ROUTE 55; THENCE ALONG SAID RIGHT OF WAY LINE THE FOLLOWING COURSES AND DISTANCES: S21 -45'00"E, 375.99 FEET; THENCE S18° 53' 15"E, 100.12 FEET; THENCE S210 45' 00"E 313.36 FEET TO A POINT BEING THE SOUTHEAST CORNER OF THE AFOREMENTIONED LOT TWO OF CAPE WEST 12TH SUBDIVISION; THENCE S68 -15'00"W, 535.00 FEET ALONG THE SOUTH LINE OF SAID LOT TWO TO THE SOUTHWEST CORNER OF LOT 2 OF CAPE WEST 12TH SUBDIVISION TO THE POINT OF BEGINNING, CONTAINING 20.217 ACRES. THE ABOVE DESCRIPTIONS ARE BASED ON: TITLE REPORT NUMBER 24219435 PREPARED BY CAPE GIRARDEAU COUNTY ABSTRACT & TITLE CO. INC., REVIEWED THROUGH NOVEMBER 6, 2024. THE TITLE REPORT AS THAT DESCRIBED IN FIRST AMERICAN TITLE INSURANCE COMPANY COMMITMENT NUMBER PNT45011MO WITH AN EFFECTIVE DATE OF AUGUST 1, 2023. Exhibit B Boundary Map of the Proposed Districtl �. t,.. _-_ 1' 1 - tr i t - - '1" c _- __.T ��...i4...1.:�11V�.•..�...�.w...`....A...�xriil.Si...R�... :..w......... ... i \.' ♦ ` t ) € Redevelopment Area Boundary 1, ^.� f 242 Siemers Dr. i 262 Siemers Dr. 330 Siemers Dr. Other Parcels toA. r 1 • `} ILlife Jit 4 to o a � C.S ♦; it 1 •. � ! d 1 The boundaries of the proposed District are comprised of two legal parcels located at 242 and 330 Siemers Drive in the City. Pursuant to a triple net ground lease, a portion of 242 Siemers Drive is leased to D&B Properties, Inc. and occupied by a standalone Sonic restaurant. The Sonic restaurant has a street address of 262 Siemers Drive. Because D&B Properties, Inc. is required to pay all taxes and assessments with respect to the property at 262 Siemers Drive, the Cape Girardeau County Assessor has assigned the 262 Siemers Drive property its own tax parcel identification number, even though no separate legal parcel exists. The map above shows the boundaries of the two legal parcels located at 242 and 330 Siemers Drive as well as the boundaries of the portion of 242 Siemers Drive that's occupied by Sonic. Exhibit C Petition for Special Assessments PETITION OF THE OWNERS OF RECORD OF ALL REAL PROPERTY LOCATED WITHIN THE CAPE WEST PLAZA COMMUNITY IMPROVEMENT DISTRICT TO AUTHORIZE A SPECIAL ASSESSMENT AGAINST EACH TRACT, LOT OR PARCEL OF REAL PROPERTY WITHIN THE DISTRICT FOR A PERIOD OF UP TO 25 YEARS The undersigned, as owners of record of all real property within the Cape West Plaza Community Improvement District, hereby indicate their approval of the following measure by signing this special assessment petition: The Cape West Plaza Community Improvement District (the "District's shall be authorized to levy special assessments (the "SpecialAssessments'� for a period of up to 25 years against each Assessed Lot (as defined below) benefitted within the District for the purpose of providing revenue for the development of the CID Project (as defined below), said Special Assessments to be levied pursuant to the Assessment Procedure (as defined below) in an annual amount not to exceed the greater of (a) the difference between (1) the property taxes that would have otherwise been payable on such Assessed Lot but for the real property exemption granted by the City of Cape Girardeau, Missouri, pursuant to Section 3 53.110 of the Revised Statutes of Missouri, as amended, and (2) the sum of any taxes and payments in lieu of taxes paid with respect thereto (the difference between (1) and (2) being the "Actual AbatementAmount"), or (b) the Annual Special Assessment Schedule (as defined below). "CID Project" shall have the meaning set forth in the five-year plan set forth as Exhibit D to the Amended and Restated Petition for the Creation of a Community Improvement District dated February 25, 2026. "Lot" means each tract, lot or parcel of real property wholly within the District, as identified by a parcel identification number assigned by the Cape Girardeau County Assessor's Office. Currently, there are three Lots having parcel identification numbers 20-309-00-02-005.00-0000 ("Lot I "), 20-309-00-02- 004.00-2000 ("Lot 2") and 20-309-00-02-004.00-2001 ("Lot3"). "Assessed Lot" means each Lot that (a) has been developed in accordance with that certain Redevelopment Agreement (the "Re(levelopnwntAgreement") by and among the City of Cape Girardeau, Missouri, Drury AT 2024, LLC, Drury Land Development, Inc., Drury Development Corporation and the Cape West Plaza Redevelopment Corporation (the "Redevelopment Corporation', and (b) is subject to tax abatement as permitted by the Redevelopment Agreement pursuant to Section 353.110 of the Revised Statutes of Missouri, as amended. "Levy Year" means, with respect to each Assessed Lot, each calendaryear in which the Assessed Lot is subject to tax abatement and an annual installment of the Special Assessment is levied against such Assessed Lot. "Annual SpecialAssessrraentSchednle" means, with respect to each Assessed Lot, the basis for determining the maximum annual installments of the Special Assessments to be levied against such Assessed Lot, as setforthon Schedule 1, attachedhereto and incorporated herein by reference, to the extent that such annual installment set forth on Schedule 1 exceeds the Actual Abatement Amount in any given Levy Year. "AssessnientProcedure"means, with respect to each Assessed Lot, the following procedure for levying and collecting each annual installment of the Special Assessments: 1. The first Levy Year shall be the Abatement Initiation Year (as defined in the Redevelopment Agreement). 2. Subject to the limitation set forth in paragraph 5 below, the Special Assessments on any individual Assessed Lot shall be payable in annual installments, without pre -payment, fora period of up to 25 years, so long as any notes, bonds or other obligations issued by or on behalf of the District to finance the CID Project (the "CID Obligations") are outstanding. as follows: Each annual installment of the Special Assessments shall be levied against each Assessed Lot (a) If the Actual Abatement Amount exceeds the Annual Special Assessment Schedule for the Assessed Lot for the corresponding Levy Year, then the annual installment shall not exceed the Actual Abatement Amount. (b) If the Actual Abatement Amount is less than the Annual Special Assessment Schedule for the Assessed Lot for the corresponding Levy Year, then the annual installment may be any amount equal to or greater than the Actual Abatement Amount up to the maximum of the Annual Special Assessment Schedule for the Assessed Lot forthe corresponding Levy Year. 4. On or before November 15 of each year (or on or before December I in an Abatement Initiation Year for the Assessed Lot if such Abatement Initiation Year is the calendar year in which the Redevelopment Corporation obtains fee title to such Assessed Lot), the District shall send or cause to be sent the Special Assessment bills to the owners of record of the Assessed Lots, which tax bills shall be determined as provided in paragraph 3 above. The Special Assessment bills are due and payable on or before December 31 of each year. 5. The authorization to levy the Special Assessments shall terminate upon the earlier of (a) 27 years from the date of adoption of the ordinance establishing the District, unless the term of flee proposed District is otherwise extended pursuant to Section 67.1481.6 of the CID Act, or (b) payment in full of CID Obligations in the principal amount of $11,500,000 plus all City application fees, permit fees and other fees incurred in connection with the CID Project (which, in the aggregate, shall not exceed $200,000) plus Issuance Costs (as defined in the Redevelopment Agreement). C-2 C-3 Schedule 1 Annual Special Assessment Schedule for Lot 1 Levy Year (Annual Special Annual Special Assessment Assessment Due by December 31) 1 $ 111,642 2 $ 117,752 3 $ 117,752 4 $ 124,046 5 $ 124,046 6 $ 130,528 7 $ 130,528 8 $ 137,205 9 $ 137,205 10 $ 144,082 11 $ 118,059 12 $ 121,601 13 $ 121,601 14 $ 125,249 15 $ 125,249 16 $ 129,007 17 $ 129,007 18 $ 132,877 19 $ 132,877 20 $ 136,863 21 $ 136,863 22 $ 140,969 23 $ 140,969 24 $ 145,198 25 $ 145,198 C-3 Annual Special Assessment Schedule for Lot 2 Levy Year (Annual Special Annual Special Assessment Assessment Due by December 31) 1 $ 15,799 2 $ 19,097 3 $ 19,097 4 $ 22,495 5 $ 22,495 6 $ 25,994 7 $ 25,994 8 $ 29,599 9 $ 29,599 10 $ 33,311 11 $ 63,731 12 $ 65,643 13 $ 65,643 14 $ 67,612 15 $ 67,612 16 $ 69,640 17 $ 69,640 18 $ 71,730 19 $ 71,730 20 $ 73,882 21 $ 73,882 22 $ 76,098 23 $ 76,098 24 $ 78,381 25 $ 78,381 C-4 Annual Special Assessment Schedule for Lot 3 Levy Year (Annual Special Annual Special Assessment Assessment Due by December 31) 1 $ 2,271 2 $ 2,612 3 $ 2,612 4 $ 2,963 5 $ 2,963 6 $ 3,324 7 $ 3,324 8 $ 3,696 9 $ 3,696 10 $ 4,080 11 $ 6,582 12 $ 6,779 13 $ 6,779 14 $ 6,983 15 $ 6,983 16 $ 7,192 17 $ 7,192 18 $ 7,408 19 $ 7,408 20 $ 7,630 21 $ 7,630 22 $ 7,859 23 $ 7,859 24 $ 8,095 25 $ 8,095 C-5 Name: Drury AT 2024, LLC Address: 330 Siemers Drive Cape Girardeau, MO 63701 I hereby declare under penalties of perjury that I am qualified to affix my authorized signature in the name of an entity that is entitled to sign this petition. I hereby certify that Drury AT 2024, LLC is the owner of record of certain acreage within the District as referenced below. The undersigned hereby approves of the levy of the Special Assessments as provided herein. DRURY AT 2024, LLC, a Missouri limited liability company By: Drury Development Corporation, Member/Manager By: r('k' c4A Anthony . Right, nior Vice President and Chief Financial Officer STATE OF MISSOURI ) ) SS COUNTY OF ST. LOUIS ) 10.85 Acres On this 25th day of February in the year 2026 before me, OhPC4 I &d Q a Notary Public in and for said state, personally appeared Anthony C. 114,ht, Senior Vice President and Chief Financial Officer of Drury Development Corporation, Member/Manager of Drury AT 2024, LLC, known to me to be the person who executed the within petition in behalf of said limited liability company and acknowledged to me he executed the same for the purposes therein stated. WITNESS my hand and official seal this 25th day of February, 2026. &'11� &.- h,"— Notary Public CHERYL ANN KERN Notary Public -Notary Seal STATE OF MISSOURI Printed Name: ke-rAJ St. Louis Cit 4 My Commission Expires: Apr. 28. X29 My Commission Expires: 0 o ��/ :Commission # 13504650 C-6 Name: Drury Land Development, Inc. Address: 242 Siemers Drive and 262 Siemers Drive Cape Girardeau, MO 63703 I hereby declare under penalties of perjury that I am qualified to affix my authorized signature in the name of an entity that is entitled to sign this petition. I hereby certify that Drury Land Development, Inc. is the owner of record of certain acreage within the District as referenced below. The undersigned hereby approves of the levy of the Special Assessments as provided herein. DRURY LAND DEVELOPMENT, INC., a Missouri corporation 9.40 Acres By: Drury Development Corporation, Sole Shareholder By: ( / W- k Anthonj C. Righ , Senior Vice President and Chief Financial Officer STATE OF MISSOURI ) SS COUNTY OF ST. LOUIS ) On this 25th day of February in the year 2026 before me,eherztI Atir,ke-,-Al a Notary Public in and for said state, personally appeared Anthony C. ht, Senior Vice President and Chief Financial Officer ofDrury Development Corporation, Sole Shareholder ofDrury Land Development, Inc., known to me to be the person who executed the within petition in behalf of said corporation and acknowledged to me he executed the same for the purposes therein stated. WITNESS my hand and official seal this 25th day of February, 2026. &(Z�IQ4L& Nota Public �1✓ CHERYL ANN KERN ' Notary Public - Notary Seal / I STATE OF MISSOURI Printed Name: 1 %liIV MSt. Louis City MY Commission Expires: Apr. 28, 2029 _ Co_nrnission # 13504650 My Commission Expires: 0� C-7 Exhibit D Five -Year Plan Cape West Plaza Community Improvement District Dated: February 25, 2026 Introduction Drury AT 2024, LLC and Drury Land Development, Inc. (together, the "Petitioners' propose to create the Cape West Plaza Community Improvement District (the "District") pursuant to the Community Improvement District Act, Sections 67.1401 to 67.1571 of the Revised Statutes of Missouri, as amended (the "CID Act"). Section 67.1421 of the CID Act requires that the petition for the creation of the proposed District be accompanied by a five-year plan stating a description of the purposes of the proposed District, the services it will provide, the improvements it will make, an estimate of the costs of these services and improvements to be incurred, the anticipated sources of funds to pay such costs and the anticipated term of such sources of funds. This Five -Year Plan (this "Plan") is presented to comply with the statutory requirement referenced above. Generally, a community improvement district is a statutory tool a municipality may implement to allow a specific area or section of the municipality to fund (either in part or in whole) certain improvements and services within certain defined boundaries by securing a portion of the area's own economic activity. This Plan contains the following: (A) a description of the location and formation of the proposed District; (B) a description of the purposes of the proposed District and the services to be provided and the improvements to be made by the proposed District; (C) an estimate of the costs of the services and improvements to be incurred; (D) the anticipated sources of funds to pay the costs of such services and improvements; (E) the anticipated term of the sources of funds to pay the costs of such services and improvements; and (F) an anticipated schedule for the proposed District's services and improvements and other activities over a five-year period. This Plan is an integral and composite part of the Amended and Restated Petition for the Creation of a Community Improvement District (the "Petition") to which it is attached and incorporated therein by reference. A. District Location and Formation The proposed Districttotals approximately 20.25 acres and is generally located at242,262 and 330 Siemers Drive within the City of Cape Girardeau, Missouri (the "City"). The proposed District is contiguous. The District is proposed to be a political subdivision of the State of Missouri. The proposed District, pursuant to the CID Act, is empowered to provide a variety of public services and to finance a number of different public improvements within its boundaries, which services and improvements will be paid for from revenues from taxes and special assessments imposed within its boundaries. B. Purposes of the Proposed District and the Improvements to be Made and Services to be Provided The purpose of the proposed District is to provide assistance to or to construct, reconstruct, install, repair, maintain, and equip certain public improvements within its boundaries, and to support business activity and economic development in the proposed District and to provideservices and activities as allowed hal under Section 67.1461 ofthe CID Act. The proposed District will impose the CID Sales Tax and Special Assessments (both as defined herein) to finance and administer these improvements and services as provided under the CID Act. In general, the proposed District may undertake any of the public improvements or provide for any of the activities or services set forth in the CID Act. Pursuant to Section 67.1461 of the CID Act, the proposed Districtmay acquireby purchase, lease, gift, grant, bequest, devise orotherwise, any real property within its boundaries, personal property, or any interest in such property. The proposed District may also sell, lease, exchange, transfer, assign, mortgage, pledge, hypothecate, or otherwise encumber or dispose of any real or personal property or any interest in such property. The proposed District may dedicate to the City, with the City's consent, streets, sidewalks, parks, and other real property and improvements located within its boundaries for public use. In addition, pursuant to Section 67.1461.2 ofthe CID Act, the proposed District shall have the powers related to a district located in a blighted area. Thus, the proposed District may enter into one or more agreements with the City or any private property owner within the District to demolish and remove, renovate, reconstruct or rehabilitate any building or structure owned by such private property owner, and the District may expend its revenues or loan its revenues pursuant to such agreement, provided that the City Council has determined that the action to be taken pursuant to such agreement is reasonably anticipated to remediate the blighting conditions and will serve a public purpose. The proposed District is being formed to raise revenues by imposing a community improvement district sales and use tax (the "CID Sales Tax") at the rate of up to one percent (1 %) on all taxable retail sales within its boundaries which are subject to taxation pursuant to Sections 144.010 to 144.525 of the Revised Statutes of Missouri, as amended, except sales ofmotorvehicles, trailers, boats or outboard motors and sales to or by public utilities and providers of communications, cable or video services. The imposition of the CID Sales Tax is subject to approval by the qualified voters within the proposed District. To the extent that there are no registered voters within the proposed District, the CID Act provides that the qualified voters are the owners of one or more parcels of real property located within the proposed District per the tax records of Cape Girardeau County, Missouri, as of the thirtieth day before the date of the applicable election. Once the proposed District is established by ordinance of the City, the proposed District's Board of Directors will submit the question of whether it shall be authorized to impose the Cl D Sales Tax to the qualified voters for approval in accordance with this Plan. The proposed District is also being formed to raise revenues by levying special assessments (the "SpecialAssessments") against real property benefitted within the District. The proposed District may levy the Special Assessments upon receipt of a petition (the "SpecialAssessinentPetition") signed by the requisite percentage of owners of real property located within the District in accordance with Section 67.1521 ofthe CID Act. The Special Assessments will be levied against the lots within the District that are benefitted by the CID Project (as defined herein) pursuant to a procedure set forth in the Special Assessment Petition. The Special Assessments will be levied in an annual amount not to exceed the greater of (a) the difference between (1) the property taxes that would have otherwise been payable on such real property and the improvements thereon but for the real property exemption granted by the City pursuant to Section 353.110 ofthe Revised Statutes of Missouri, as amended, and (2)the sum of any taxes and payments in lieu of taxes paid with respect thereto, or (b) the Annual Special Assessment Schedule set forth in the Special Assessment Petition. Notwithstanding anything in the CID Act or the Petition to the contrary, the proposed District shall have no power to levy real property taxes or business license taxes. The District is proposed to provide funding for those powers of a district provided under Sections 67.146 1.1 and 67.1461.2 of the CID Act and various public improvements (as further described below) within the proposed District's boundaries, a portion of which improvements are anticipated to be D-2 made to remove any blighted condition and in connection with the redevelopment, operation and maintenance of multi -tenant retail and other commercial spaces within the proposed District. Specifically, the District will provide funding for the following: (a) the demolition and removal, renovation, reconstruction or rehabilitation of the site infrastructure and improvements located at 330 Siemers Drive to convert the property from a single commercial use to a multi -tenant commercial use, including without limitation sitework/demolition, concrete work, thermal and moisture protection, finishes and mechanical and electrical work, (b) the demolition and removal, renovation, reconstruction or rehabilitation of the site infrastructure and improvements located at 242 Siemers Drive to enhance the existing multi -tenant commercial shopping center, including without limitation demolition, removal and replacement of sidewalks and asphalt overlay, re -striping of parking lots, repairing and painting the building fagade, installing brick fagade to existing columns of the building, demolishing and replacing the roof of the building, retrofitting existing parking lot lights to LED and painting light poles, reimaging existing exterior signage and enhancing landscaping and (c) all City application fees, permit fees and other fees incurred in connectionwith any of theforegoing, which such fees, in the aggregate, shall not exceed $200,000 (together with any public improvements, activities or services outlined in this Section B. and as allowed by the CID Act, the "CID Project"). In conjunction with fundingthe CID Project, the Districtmay also fund costs related to undertaking and completingthe CID Project, including without limitation: (a) costs of all estimates, studies, surveys, plans, drawings, reports, tests, specifications and other preliminary investigations of architects, appraisers, surveyors and engineers; (b) all professional service costs, including without limitation architectural, engineering, legal, financial, planning, design, development, projector construction management or special services incurred; (c) costs of acquisition, settlement and transfer of rights-of-way, easements, leases and other interests in real property; (d) costs of demolition of buildings and improvements; the clearing excavation, earthwork, backfill and grading of land; site preparation; utility relocation; erosion, drainage and storm water control; storm sewers; and waterproofing; (e) costs of relocation necessitated by the City's relocation plan; (f) costs of insurance, performance bonds and guarantees; (g) costs of pavement, curbs, gutters, sidewalks, pavers, landscaping, planters, tree grates, irrigation and water features, bicycle racks, pedestrian benches, canopies, street lighting, retaining walls, shoring and piers, handrails, guardrails and other railing, including without limitation any architectural or decorative treatments related to such items; and (h) costs of construction of any bridge, street, road, alley, traffic sign or signal, parking lot, bus stop, station, garage, shelter, rest area, lake, dam, waterway or any similar or related improvement or infrastructure. The CID Act mandates that existing City services continue to be provided within the proposed District atthe same level as beforethe proposed District is created (unless services are decreased throughout the City) and that any proposed District services shall be in addition to existing City services. Petitioners anticipate that City services will continue to be provided within the proposed District at the same level as before the proposed District is created, and the proposed District will not cause the level of City services within the proposed District to diminish. C. Estimate of Costs of Services and Improvements to be Incurred The estimated cost of the CID Project is $22,950,915, as further described in the table and the accompanying notes set forth on Schedule 1, attached hereto and incorporated herein by reference. D. Anticipated Sources of Funds to Pay the Costs of Services and Improvements The proposed District may fund any portion of the costs of acquisition, design, construction, operation and maintenance of the CID Project. Revenues from the CID Sales Tax and, subject to the terms of the Special Assessment Petition, revenues from the Special Assessments may be used to fund in part D-3 either direct costs of the CID Project or financing costs of the CID Project, or both. Under Section 67.1461 of the CID Act, the proposed District may borrow money from any public or private source and issue obligations or cause obligations to be issued on its behalf, in one or more phases, and provide security for repayment of the same as provided in the CID Act. Without the additional funding provided by the proposed District, Petitioners would not be able to adequately develop, operate and maintain the CID Project. It is anticipated that Petitioners will advance the costs of the CID Project and that, upon substantial completion of the CID Project, the proposed District will issue obligations to reimburse for the costs of the CID Project and to pay any costs of issuance of such obligations. Such obligations will bear interest at an annual rate not to exceed 10.00%. On an annual basis, the revenues from the CID Sales Tax and, subject to the terms of the Special Assessment Petition, revenues from the Special Assessments will be applied as follows: (a) first, to fund the ongoing administrative costs of the proposed District, the amount of which will be determined by the proposed District's Board of Directors in connectionwith the adoption of the annual budgetof the proposed District, and (b) second, to fund the costs of the CID Project or any obligations issued by or o n behalf of the proposed District to finance the costs of the CID Project. This formula will be applied throughout the term of the proposed District. E. Anticipated Term of the Sources of Funds to Pay the Costs of Services and Improvements The proposed District is anticipated to collect the CID Sales Tax for a period of up to 27 years from the effective date of the City's ordinance creating the proposed District and to levy and collect the Special Assessments for a period of up to 25 years against each tract, lot or parcel of real property wholly within and benefitted by the proposed District. However, if the costs of the CID Projector the principal of and interest on any obligations issued by the proposed District to finance the costs of the CID Project are paid prior to the end of such periods, the proposed District shall take steps to repeal the CID Sales Tax and the Special Assessments and the Petitioners (or their successors in interest to the real property located within the proposed District) shall seek to terminate the proposed District in accordance with Section 67.1481 of the CID Act. F. Anticipated Schedule Below is a summary of the activities, improvements and services anticipated to be performed by the proposed District over the initial five-year period. D-4 Year Activities, Improvements and Services 2026 • Establish District • Special Assessment Petition received by District • District's Board of Directors authorizes imposition of CID Sales Tax and Special Assessments • District holds mail -in election to impose CID Sales Tax • CID Project commences with demolition and removal, renovation, reconstruction or rehabilitation of existing site infrastructure and improvements • Issuance of District obligations, if any, related to the CID Project • Provide financing for a portion of the costs of the CID Project • Provide for collection of CID Sales Tax and Special Assessments, if applicable • District provides for its ongoing administration 2027 • CID Project is substantially completed • Issuance of District obligations, if any, related to the CID Project • Provide financing for a portion of the costs of the CID Project • Provide for collection of CID Sales Tax and Special Assessments, if applicable • District provides for its ongoing administration 2028 • Issuance of District obligations, if any, related to the CID Project • Provide financing for a portion of the costs of the CID Project • Provide for collection of CID Sales Tax and Special Assessments • District provides for its ongoing administration 2029 • Provide financing for a portion of the costs of the CID Project • Provide for collection of CID Sales Tax and Special Assessments • District provides for its ongoing administration D-5 Year Activities, Improvements and Services 2030 • Provide financing for a portion of the costs of the CID Project O Provide for collection of CID Sales Tax and Special Assessments • District provides for its ongoing administration Schedule 1 CID Project Costs 242 Sietners Drive 330 Siemers Drive Description Budgeted Costs* Reimbursable Costs** Columbia Construction Reimbursable Costs** Acquisition Costs $ - Demolition of existing storefront sidewalk $ - Columbia Construction - White Shell - Installation of new storefront sidewalk 6,761,975 $ 6,761,975 A-1 Signage - Demolition and repair of failed asphalt $ 100,000 $ 100,000 - Installation of asphalt over existing parking lot $ 972,000 $ 972,000 - Restriping of parking lot Site Work for Pad $ 135,000 - Installation of brick fagade to existing columns 135,000 Repair Storm Inlet at SEC $ - Demolition of existing mansard roof metal $ 50,000 Architecture and Engineering Design - Installation of new roof 1,352,395 $ 1,352,395 Civil Engineering A-1 Signs - Reimage Existing Freestanding Signage $ 75,000 $ 75,000 Landscaping $ 50,000 $ 50,000 Architecture and Desi $ 97,200 $ 97,200 Civil Engineering $ 97,200 $ 97,200 Sot Cost Contingency $ 129,140 $ 129,140 Subtotal $ 1,420,540 $ 1,420,540 $ 22,950,915 $ 11,458,665 * The amount in each budget category is an estimate. Savings in one budget category may be applied to additional costs incurred in other budget categories. ** Although it is estimated that there are eligible CID Project costs of $22,950,915, the maximum amount of CID Project costs that the proposed District will find is $11,500,000. The maximum amount excludes the District's payment of the folloNving, which amounts may be funded above and beyond the maximum amount: all City application fees, permit fees and other fees incurred in connection with the CID Project (which, in the aggregate, shall not exceed $200,000), Costs of Issuance (as defined in the Petition), if any, the proposed District's administrative fees and expenses including, but not limited to, fees and costs related to the proposed District's formation, planning consultants, advisors, auditors and legal counsel, and reimbursement to the City for the City's third -party professional costs directly related to the City's consideration of the proposed District including, without limitation, legal and planning expenses incurred in relation to the City's establishment of the proposed District, and the City's participation and responsibilities with regard to the ongoing operation, functions and administration of the proposed District. D-7 330 Siemers Drive Description Budgeted Costs* Reimbursable Costs** Acquisition Costs $ 6,000,000 $ - Columbia Construction - White Shell $ 6,761,975 $ 6,761,975 A-1 Signage $ 100,000 $ 100,000 Landscaping $ 50,000 $ 50,000 Site Work for Pad $ 135,000 $ 135,000 Repair Storm Inlet at SEC $ 50,000 $ 50,000 Architecture and Engineering Design $ 1,352,395 $ 1,352,395 Civil Engineering $ 676,198 $ 676,198 Soft Cost Contingency $ 912,557 $ 912,557 Tenant Allowance + Landlord Work $ 5,492,250 $ - Subtotal $ 21,530,375 $ 10,038,125 Total CID Project Costs $ 22,950,915 $ 11,458,665 * The amount in each budget category is an estimate. Savings in one budget category may be applied to additional costs incurred in other budget categories. ** Although it is estimated that there are eligible CID Project costs of $22,950,915, the maximum amount of CID Project costs that the proposed District will find is $11,500,000. The maximum amount excludes the District's payment of the folloNving, which amounts may be funded above and beyond the maximum amount: all City application fees, permit fees and other fees incurred in connection with the CID Project (which, in the aggregate, shall not exceed $200,000), Costs of Issuance (as defined in the Petition), if any, the proposed District's administrative fees and expenses including, but not limited to, fees and costs related to the proposed District's formation, planning consultants, advisors, auditors and legal counsel, and reimbursement to the City for the City's third -party professional costs directly related to the City's consideration of the proposed District including, without limitation, legal and planning expenses incurred in relation to the City's establishment of the proposed District, and the City's participation and responsibilities with regard to the ongoing operation, functions and administration of the proposed District. D-7 DRUDRU®ELOPMENT CORPORATION CITY CAPE G I R A R D E A U Cape West Plaza Development Plan Submitted by: Cape West Plaza Redevelopment Corporation February 2026 1 DRIL RY DEVELOPMENT CORPORATION Table of Contents Introduction...................................................................................................................................3 Redevelopment Project Description..............................................................................................4 ProposedTax Abatement.............................................................................................................4 Urban Redevelopment Ordinance Development Plan Requirements...........................................5 Exhibits.........................................................................................................................................7 ra DRCRY DEVELOPMENT CORPORATION Introduction Prior to closing operations in 2019, Sears occupied a 142,610 square foot commercial building located at 330 Siemers Drive in Cape Girardeau, Missouri (the "City"). Adjacent to the former Sears is the Cape West Plaza Shopping Center, which includes a Target, located at 202 Siemers Drive, and the remaining in-line commercial retail tenants, located at 242 Siemers Drive. Pursuant to a triple net ground lease, a portion of 242 Siemers Drive is leased to a third -party entity operating a standalone quick serve restaurant, Sonic. The former Sears site and the Cape West Plaza Shopping Center—excluding the area occupied by Target and including the area occupied by Sonic—comprise approximately 20.25 acres across two contiguous legal parcels at 242 and 330 Siemers Drive in the City (collectively, the "Redevelopment Area" or the "Area")'. The Redevelopment Area is depicted in Exhibit A and legally described in Exhibit B. This Development Plan proposes that partial tax abatement be granted to Cape West Plaza Redevelopment Corporation (the "Corporation"), and its successors and assigns, under Chapter 353 of the Revised Statutes of Missouri ("Chapter 353"), to incentivize the redevelopment and the remediation of blighted area conditions currently existing in the Area. In 2010, the City adopted Ordinance No. 4167 (the "Urban Redevelopment Ordinance"). The Urban Redevelopment Ordinance provides that redevelopment corporations organized pursuant to Chapter 353 may submit development plans to the City seeking tax abatement incentives available under Chapter 353. This Development Plan has been submitted to the City by the Corporation to satisfy the requirements of the Urban Redevelopment Ordinance. Steadfast City Economic and Community Partners ("Steadfast City") conducted a blight study on the Redevelopment Area, which is included as Exhibit C. Remediation of blighted conditions in the Redevelopment Area is expected to begin shortly after approval of this Development Plan. Drury Development Corporation (the "Developer") proposes to make improvements to the parking lot, building fagade, and roof of Cape West Plaza at 242 Siemers Drive. Additionally, the Developer seeks to redevelop the adjacent property at 330 Siemers Drive into a multi -tenant space. No improvements—interior nor exterior— will be made to the Sonic property. However, improvements to 242 and 330 Siemers Drive are necessary for the continued successful and safe operation of the Sonic property, as that property depends on the conditions and infrastructure within the adjacent tax parcels. ' As noted above, a portion of 242 Siemers Drive is leased to a third -party entity operating a Sonic restaurant. The Sonic restaurant has a street address of 262 Siemers Drive. Because the third -party entity is required to pay all taxes and assessments with respect to the property at 262 Siemers Drive, the Cape Girardeau County Assessor has assigned the 262 Siemers Drive property its own tax parcel identification number, even though no separate legal parcel exists. 3 DRCRY DEVELOPMENT CORPORATION The revitalization outlined in this Development Plan addresses the predominant and persistent blighted conditions currently existing in the Area. However, the feasibility and ultimate success of the redevelopment activities are dependent on the availability of real property tax abatement, as described herein. Redevelopment Project Description Affiliate entities of the Developer own both legal parcels in the Area. 242 Siemers Drive has been owned by an affiliate of the Developer for more than 30 years, and before repurchasing 330 Siemers Drive on November 8, 2023, the property had been formerly owned by an affiliate of the Developer and sold on June 24, 2004. This Development Plan proposes exterior revitalization of the Cape West Plaza Shopping Center at 242 Siemers Drive and redevelopment of the adjacent 330 Siemers Drive property to convert the former Sears building into a multi -tenant commercial space (the "Redevelopment Project" or the "Project"). The Project does not include new construction; instead, it will repurpose the existing vacant Sears structure and implement exterior improvements at both addresses. Upon completion, the former Sears building will be considered a part of the Cape West Plaza. At the time of completion of this Development Plan, existing tenants at Cape West Plaza are expected to remain operational throughout the Project. Proposed Tax Abatement Pursuant to this Development Plan, and subject to a master redevelopment agreement (the "Development Agreement") to be entered into among the City, the Developer and the Corporation, the Redevelopment Area may be granted tax abatement on the following terms: • Each tax parcel's ad valorem real property taxes will be abated for 25 years after title to such tax parcel is transferred to the Corporation, • During the 2025 tax year, ad valorem real property taxes of $9,084.02 were paid with respect to the tax parcel at 262 Siemers Drive, ad valorem real property taxes of $94,151.05 were paid with respect to the tax parcel at 242 Siemers Drive and ad valorem real property taxes of $92,036.31 were paid with respect to the tax parcel at 330 Siemers Drive (each such amount being the "Base Taxes" with respect to each such tax parcel), • During years 1 — 10 in which a tax parcel is subject to abatement, the Developer will pay taxes measured by the value of the land on such tax parcel in the year prior to the acquisition thereof by the Corporation, plus a payment in lieu of tax ("PILOT") equal to the difference between such tax parcel's Base Taxes and the taxes measured by the value of the land, and • During years 11 — 25 in which a tax parcel is subject to abatement, the Developer will pay taxes measured by 50% of the property's then -current market value. 0 DRCRY DEVELOPMENT CORPORATION Each tax and PILOT payment will be divided pro rata among the taxing districts that levy ad valorem real property taxes on the respective tax parcel based on each taxing district's then -current levy rate. A tax impact statement demonstrating the fiscal impact of the proposed abatement on each applicable taxing district has been prepared and furnished to the applicable taxing districts in accordance with Chapter 353 and the Urban Redevelopment Ordinance. Urban Redevelopment Ordinance Development Plan Requirements a. Legal description. A legal description of the real property comprising the Redevelopment Area is set forth in Exhibit B to this Development Plan. b. Stages of Project. The Redevelopment Project will be developed in a single phase. The Developer has site control of both legal parcels in the proposed Redevelopment Area. Construction is expected to commence in 2026 with completion anticipated in quarter one 2027. c. Property to Be Demolished. A significant portion of the Sears structure is intended to remain, apart from the former Sears garden center and an estimated 30,492 square feet of building space that is expected to be demolished to accommodate tenant required loading docks. Demolition is expected to commence 2-3 months after approval of this Development Plan and last 2-3 months; thus, full demolition would be completed within 4-6 months of Project approval. d. Property Not to Be Demolished. All structures at 242 Siemers Drive in the Cape West Plaza in-line will remain, including the Sonic. e. Building Renovation. The Project includes the renovation of one existing structure, the 142,610 square foot, single -tenant former Sears building at 330 Siemers Drive into a multi -tenant 114,940 square foot retail building for up to six tenants. The construction scope of work includes, but is not limited to, a new exterior wall constructed due to the partial demolition described above, exterior fagade work and additional entrance vestibules, roof replacement, full environmental remediation of mold and bacteria growth, and demising walls with new electrical and HVAC. Construction is expected to last 12-14 months. The Project also includes building facade and roof improvements to the Cape West Plaza commercial building, but no interior renovations. f. New Construction. No new construction is expected within the Redevelopment Area. g. Open Space. Except as may be required by the City's zoning code (i.e., setbacks, etc.), this Development Plan does not require any portion of the 5 DRCRY DEVELOPMENT CORPORATION Redevelopment Area to be maintained as open space. h. Property for Public Agencies. No portions of the Redevelopment Area are expected to be sold, donated, exchanged or leased to any public agency. L Zoning Changes. No zoning changes are necessary or desired for implementation of this Development Plan. j. Subdivisions. No subdivision or re -subdivision of property is necessary or desired for implementation of this Development Plan. k. Street Changes. No changes to public streets are necessary or desired for the implementation of this Development Plan. I. Dwelling Accommodations. The Redevelopment Area does not currently include any residential dwelling accommodations, which will remain unchanged following its redevelopment. m. Housing and Business Relocation. Sears is vacant. Current tenants of the in-line shopping center include Buckle, Shoe Carnival, Petco, Staples, TJ Maxx, and Sonic. All are expected to remain during and after redevelopment. Therefore, no residents or businesses will be relocated. New tenant occupancy and lease up within the Cape West Plaza may occur following approval of this Development Plan; however, relocation is not driven by the implementation of this Development Plan. n. Proposed Housing. The Redevelopment Area will not include any residential development. o. Changes outside of Redevelopment Project Area. No changes outside of the Redevelopment Area are necessary or desired for the implementation of this Development Plan. p. Financing. The Project is estimated to cost $11,500,000 excluding original acquisition costs, all application and permit fees related to the Project, and tenant improvements. The Developer intends to use a combination of funds on hand and drawn from a letter of credit from US Bank. The letter of credit is described in Exhibit D. q. Management. The Corporation's activities with respect to the Redevelopment Project will be managed by the Developer or an affiliate thereof following the approval of this Development Plan. r. Eminent Domain. Eminent domain will not be used in connection with this Development Plan. 3-9 DIU RY DEVELOPMENT CORPORATION s. Other information. The City can expect significant benefits from the revitalization of the Redevelopment Area, including but not limited to: i. Clearance and remediation of the conditions that cause the Redevelopment Area to be a "Blighted Area" through the enhancement of building and landscape improvements. ii. Repositioning and revitalization of an outmoded, underutilized, unoccupied property within the City. iii. Creation of modern retail and commercial space to attract new businesses and generate jobs, stimulating economic activity in the City. iv. Leadership by an experienced developer with a strong track record in successful redevelopment projects. Exhibits Exhibit A Map of Redevelopment Area Exhibit B Legal Description of Redevelopment Area Exhibit C Blight Study Exhibit D Project Financing 7 DRIL RI' DEVELOPMENT CORPORATION Exhibit A Map of Redevelopment Areae — Redevelopment Area Boundary • - ,,�� — 242 Siemers Dr. • •••• 262 Siemers Dr. _ 330 Siemers Dr. h, t _ Other Parcels VA Wk I�A rat , ' rf o . .,. I The Redevelopment Area is comprised of two legal parcels located at 242 and 330 Siemers Drive in the City. Pursuant to a triple net ground lease, a portion of 242 Siemers Drive is leased to a third -party entity operating a Sonic restaurant. The Sonic restaurant has a street address of 262 Siemers Drive. Because the third -party entity is required to pay all taxes and assessments with respect to the property at 262 Siemers Drive, the Cape Girardeau County Assessor has assigned the 262 Siemers Drive property its own tax parcel identification number, even though no separate legal parcel exists. The map above shows the boundaries of the two legal parcels located as 242 and 330 Siemers Drive as well as the boundaries of the portion of 242 Siemers Drive that's occupied by Sonic. 8 DRUDRu®ELOPMENT CORPORATION Exhibit B Legal Description of Redevelopment Area THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY AND COUNTY OF CAPE GIRARDEAU, STATE OF MISSOURI, AND DESCRIBED AS FOLLOWS: ALL OF LOT TWO (2) OF CAPE WEST 12TH SUBDIVISION IN THE CITY AND COUNTY OF CAPE GIRARDEAU, MISSOURI, AS SHOWN BY PLAT FILED IN PLAT BOOK 22 AT PAGE 68. ALSO, PART OF LOT NO. 3 OF CAPE WEST SEVENTH SUBDIVISION AS SHOWN BY PLAT RECORDED IN PLAT BOOK NO. 18 AT PAGE NO. 65, DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHWEST CORNER OF LOT NO. 2 OF CAPE WEST 12TH SUBDIVISION AS SHOWN ON PLAT FILED IN BOOK 22, PAGE 68; THENCE N21 °45'00"W, 592.13' ALONG THE EASTERLY RIGHT OF WAY LINE OF SIEMERS DRIVE TO THE BEGINNING OF A CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 703.15 FEET AND A CENTRAL ANGLE OF 22029'23" AND A LENGTH OF 276.00 FEET IN A NORTHWESTERLY DIRECTION ALONG SAID CURVE, AND RIGHT OF WAY; TO A POINT AT THE NORTHWEST CORNER OF SAID LOT TWO (2) ON THE EAST RIGHT OF WAY LINE OF SIEMERS DRIVE; THENCE CONTINUING ALONG THE CURVE FOR 10.39' HAVING A RADIUS OF 703.15 FEET AND A CENTRAL ANGLE OF 00' 50'48"; THENCE CONTINUING ALONG SAID RIGHT OF WAY LINE THE FOLLOWING COURSES AND DISTANCES: N45 '05' 12"W, 156.61 FEET TO THE BEGINNING OF A CURVE CONCAVE TO THE NORTHEAST HAVING A RADIUS OF 660.00 FEET AND A CENTRAL ANGLE OF 23 ° 20' 12"; THENCE ALONG SAID CURVE IN A NORTHWESTERLY DIRECTION 268.82 FEET; THENCE N21' 45' 00"W, 97.69 FEET; THENCE S68'1 5' 00"W, 10.00 FEET; THENCE N21'45'00" W, 51.21 FEET TO THE SOUTHWEST CORNER OF LOT 3A OF CAPE WEST SEVENTH AS SHOWN BY PLAT RECORDED IN PLAT BOOK NO. 18 PAGE NO. 65; THENCE DEPARTING SAID RIGHT OF WAY LINE ALONG THE SOUTH LINE OF SAID LOT 3A THE FOLLOWING COURSES AND DISTANCES; N68 ° 15'00"E, 343.05 FEET; THENCE N21' 45' 00"W, 132.59' FEET; THENCE N68° 15'00"E, 210.00 FEET; THENCE S21* 45'00"E, 124.59 FEET; THENCE M DRUDRu®ELOPMENT CORPORATION N68° 15' 00" E, 170.50 FEET TO THE SOUTHEAST CORNER OF SAID LOT 3A OF CAPE WEST SEVENTH, SAID POINT ALSO BEING ON THE WEST RIGHT OF WAY LINE OF INTERSTATE 55; THENCE S21 °45' 00"E, 559.13' ALONG SAID WEST RIGHT OF WAY TO THE NORTHEAST CORNER OF SAID LOT TWO (2) OF CAPE WEST 12TH SUBDIVISION; THENCE S21 -45'00"E, 54.33 FEET; THENCE S68° 15'00" W, 40.00 FEET; THENCE S21- 45'00"E, 30.00 FEET; THENCE N68° 15'00"E, 40.00 FEET TO A POINT TO THE AFORESAID WESTERLY RIGHT OF WAY LINE OF ROUTE 55; THENCE ALONG SAID RIGHT OF WAY LINE THE FOLLOWING COURSES AND DISTANCES: S21°45' 00"E, 375.99 FEET; THENCE S 18. 53' 15"E, 100.12 FEET; THENCE S210 45' 00"E 313.36 FEET TO A POINT BEING THE SOUTHEAST CORNER OF THE AFOREMENTIONED LOT TWO OF CAPE WEST 12TH SUBDIVISION; THENCE S680 15'00"W, 535.00 FEET ALONG THE SOUTH LINE OF SAID LOT TWO TO THE SOUTHWEST CORNER OF LOT 2 OF CAPE WEST 12TH SUBDIVISION TO THE POINT OF BEGINNING, CONTAINING 20.217 ACRES. THE ABOVE DESCRIPTIONS ARE BASED ON: TITLE REPORT NUMBER 24219435 PREPARED BY CAPE GIRARDEAU COUNTY ABSTRACT & TITLE CO. INC., REVIEWED THROUGH NOVEMBER 6, 2024. THE TITLE REPORT AS THAT DESCRIBED IN FIRST AMERICAN TITLE INSURANCE COMPANY COMMITMENT NUMBER PNT4501 IMO WITH AN EFFECTIVE DATE OF AUGUST 1, 2023. 10 DRURY DEVELOPMENT � CORPORATION Exhibit C Blight Study (Remainder of this page intentionally left blank) Steadfast city Economic & Community Partners Analysis of Blighted Area Factors for 242 and 330 Siemers Drive City of Cape Girardeau, Missouri Prepared: February 2026 Table of Contents I. Introduction..............................................................................................................................3 A. Purpose of This Analysis................................................................................................3 B. Redevelopment Area Description & Background...........................................................3 II. Blight Qualification Analysis.................................................................................................3 A. Insanitary or Unsafe Conditions.....................................................................................4 B. Deterioration of Site Improvements................................................................................5 C. Conditions which Endanger Life or Property by Fire and Other Causes ........................6 D. Economic Liability...........................................................................................................8 III. Summary...............................................................................................................................10 Appendix A: Redevelopment Area Map Appendix B: Site Assessment Photos Appendix C: Secondary Site Assessment Photos Appendix D: Police Report: Case 25001559 Steadfast city Ec—mic& Community Partners Page 12 I. Introduction A. Purpose of This Analysis The purpose of this blight study analysis is to document the conditions found within a 20.25 -acre area, comprised of two legal parcels' in the City of Cape Girardeau, Missouri (the "City"). The parcels, as shown in Appendix A, are situated mid -block on the east side of Siemers Drive, between Lambert Drive to the north and Richmond Drive to the south (the "Redevelopment Area" or the "Area"). This report contains an analysis of how such conditions cause the Redevelopment Area to be a "blighted area" according to Section 67.1401.2(3), RSMO (the "CID Act"), and Section 353.020(2), RSMO (the "Chapter 353 Urban Redevelopment Corporations Law"), which cross-reference Section 99.805, RSMO, defining a "Blighted Area" as follows: "Blighted area". an area which, by reason of the predominance of insanitary or unsafe conditions, deterioration of site improvements, or the existence of conditions which endanger life or property by fire and other causes, or any combination of such factors, retards the provision of housing accommodations or constitutes an economic or social liability or a menace to the public health, safety, or welfare in its present condition and use (Section 99.805(1), RSMO). B. Redevelopment Area Description & Background The Redevelopment Area spans 20.25 acres and comprises two legal parcels located at 242 and 330 Siemers Drive, all within the City. The Redevelopment Area is bordered by Interstate 55 to the east, with commercial properties to the north, south, and west. The property at 242 Siemers Drive includes parking areas, drive aisles, a standalone quick serve Sonic restaurant (approximately 1,926 square feet), and a commercial strip mall consisting of seven units (approximately 108,950 square feet). Current tenants include TJ Maxx, Staples, Shoe Carnival, Petco, and Buckle. The remaining two spaces are vacant, previously occupied by Party City and Provider Plus Home Medical Equipment & Supplies. The buildings at 242 Siemers Drive were constructed between 1996 and 1998. The property at 330 Siemers Drive contains a parking area, drive aisles, loading docks, an outdoor enclosure previously occupied by the Sears' lawn and garden center, and an approximately 142,610 square foot vacant commercial building that was once occupied ' The Redevelopment Area is comprised of two legal parcels located at 242 and 330 Siemers Drive in the City. Pursuant to a triple net ground lease, a portion of 242 Siemers Drive is leased to a third -party entity operating a Sonic restaurant. The Sonic restaurant has a street address of 262 Siemers Drive. Because the third -party entity is required to pay all taxes and assessments with respect to the property at 262 Siemers Drive, the Cape Girardeau County Assessor has assigned the 262 Siemers Drive property its own tax parcel identification number, even though no separate legal parcel exists. Steadfast city Ec—mic& Community Partners Page 13 by a Sears Grand. Sears vacated the building in October 2019. Since then, only a portion of the building was briefly occupied by a Spirit Halloween retail store. The Redevelopment Area is accessible via four public right-of-way access points along Siemers Drive. II. Blight Qualification Analysis This section examines the conditions within the Redevelopment Area that demonstrate the Area is a "blighted area" as defined in the CID Act and Chapter 353 Urban Redevelopment Corporations Law as observed during an on-site assessment conducted by Steadfast City Economic & Community Partners on April 1, 2025. In addition, this section examines findings from a secondary on-site inspection completed on November 17, 2025, to confirm whether the conditions during the April 1, 2025, inspection have persisted, improved, or worsened. Photographic documentation of the observed conditions from both on-site inspections can be found in Appendix B and C. The secondary assessment found that previously identified deficiencies remain unchanged or have significantly worsened. Additionally, several new conditions were identified that contribute further to the Area's blighted area designation. This study provides a comprehensive analysis of the blight factors observed at 242 and 330 Siemers Drive, including those observed inside the vacant building at 330 Siemers Drive. ... insanitary or Unsafe Conditions A.1. Exterior Water Drainage At 330 Siemers Drive, the building downspouts fail to adequately disperse water runoff, causing erosion of the paved surface at the exit point. Additionally, stormwater runoff infrastructure at the southeast corner of 330 Siemers Drive is insufficient, leading to overflow, which has caused significant damage to the surrounding infrastructure. Both parcels exhibit water intrusion through cracks in the paved surfaces, with standing water present in areas. These conditions contribute to accelerated pavement deterioration, including cracking and pothole formation, which create safety hazards for both pedestrians and vehicles. Pedestrians are at an increased risk of slipping or falling on wet or slippery surfaces. A.2. Ground Erosion The overflow of stormwater and poor drainage at the southeast corner of 330 Siemers Drive have caused significant soil erosion, leading to the deterioration, failure and collapse of paved surfaces. This creates unsafe conditions and worsens the site's already inadequate runoff management. If left unaddressed, the erosion will continue to weaken Steadfast city Ec—mic& Community Partners Page 14 the surface, potentially leading to further collapse and increased safety risks for both vehicles and pedestrians. Ground erosion at the rear corner of the site has worsened since the initial assessment. The collapse of exterior pavement has expanded, with additional surface failure visible during the secondary inspection. Continued stormwater runoff is undermining the paved surfaces, increasing the risk of further collapse and creating heightened safety hazards. A.3. Mold and Bacteria Growth The exterior fagades of the commercial buildings in the Area show visible signs of mold or bacteria growth, including black stains on the front fagade of the multi -unit commercial building at 242 Siemers Drive. The vacant building at 330 Siemers Drive also shows signs of water intrusion and moisture along the entirety of its fagade, causing deterioration of the exterior paint and mortar joints, which results in further water infiltration. Inside 330 Siemers Drive, mold was observed in multiple locations due to water intrusion through the concrete block fagade and roof leaks. Despite property management's efforts to regulate interior climate using the remaining functional HVAC units (9 operational furnaces out of more than 20), the follow-up assessment revealed extreme and widespread progression of mold throughout the former Sears building. Mold now affects nearly all interior walls, ceilings, and building materials. The severity of growth far exceeds observations from the initial on-site inspection, resulting in an environmentally unsafe structure that is not suitable for occupancy. A.4. Roof Leaks and Standing Water Water damage from roof leaks was observed throughout 330 Siemers Drive, with standing water and damp areas noted throughout the building. Deterioration of building materials, rust, discoloration, and the presence of mold were all linked to these leaks. Property management staff confirmed at least 12 significant roof leak locations throughout the building. These roof leaks continue to contribute to water intrusion and material deterioration inside the former Sears building. Standing water, damp surfaces, discoloration, and widespread mold formation were documented again during the secondary inspection, demonstrating ongoing deterioration tied to an unaddressed roof system failure. A.5. Rusted and Deteriorating Metal Rusted doors, metal utility enclosures, and deteriorated building components observed during the first assessment have mostly remained unchanged. Some exterior doors at the strip center, previously exhibiting rust and peeling paint, have been repainted since the initial inspection. However, rust remains prevalent across interior metal components, and corrosion continues to contribute to unsafe building conditions. A.6. New Condition: Failure of Alarm System During the secondary inspection, the property manager reported that the alarm system serving the former Sears building is nonfunctional and has reached end -of -life. The ReadFast city Economic& Community Partners P a g e 15 system can no longer be repaired and requires full replacement. This condition adds an additional life -safety concern for an already unsecured and deteriorated structure. B. Deterioration of Site Improvements Deterioration of site improvements is evidenced in various ways, ranging from minor defects to significant issues. Minor defects include peeling paint, missing ceiling or floor tiles, and small cracks in walls or ceilings. More serious deterioration is evident in primary building components, such as exterior walls, foundations, floors, roofs, and essential items like wiring and utility systems, where the issues cannot be resolved through regular maintenance. Secondary building components, including interior walls, doors, windows, gutters, fascia, and siding also show signs of damage and wear. Additionally, deterioration is seen in supporting site improvements such as sidewalks, parking areas, paved surfaces, roads, curbs, and other infrastructure. B.1. Exterior Infrastructure Widespread deterioration of paved surfaces, including parking lots, drive aisles, pedestrian pathways and curbing, is evident throughout the Area. Many of these surfaces require patching, sealing, curb repairs, and resurfacing for proper functionality and safety. In several locations, this deterioration of paved surface is attributed to inadequate storm water runoff management. For example, at the southeast corner of 330 Siemers Drive, runoff has caused significant ground erosion, resulting in the collapse of fencing and paved surfaces. Minor site cleanup efforts were observed. Litter and debris previously identified behind the former Party City have been removed, and a temporary concrete patch has been applied to the deteriorated pedestrian walkway along the former Party City frontage. Despite these limited improvements, widespread deterioration of pavement, curbing, and pedestrian surfaces persists. The worsening pavement collapse at the rear corner further demonstrates ongoing deterioration beyond what routine maintenance can address. Damage to exterior infrastructure also includes impact related damage from vehicles to light poles and a support column for the Cape West Plaza pylon signage. Separately, the large pylon sign formerly used for Sears Grand and visible from Interstate 55 is inoperable. B.2. Exterior Building Conditions The exterior of 330 Siemers Drive shows cracks and moisture infiltration throughout the facade, leading to peeling paint. Exterior doors and utility enclosures across the Area show varying degrees of damage, including rust and peeling paint. The southwest awning on 330 Siemers Drive has been removed by the previous owner, leaving the structure exposed to the elements. Other exterior issues include missing backup bumpers and ReadFast city Economic& Community Partners Page 16 lights at loading bay docks. These conditions create vulnerabilities that need attention to prevent further damage and improve the building's appearance. During the secondary inspection, it was noted that most exterior building deficiencies remain unchanged. Cracks, moisture infiltration, peeling paint, and fagade deterioration continue to be present at levels similar to or worse than the initial assessment. Although several rear exterior doors at the strip center have been freshly repainted, this isolated improvement does not materially alter the broader pattern of deterioration. B.3. Interior Building Conditions Interior building conditions were assessed only for the vacant building at 330 Siemers Drive, revealing various signs of deterioration. Most areas within the vacant building showed damage and wear to secondary building components, including flooring, ceilings, and walls, consistent with prolonged use. Additionally, significant water intrusion and ceiling leaks have led to staining, cracking, standing water, visible moisture, mold, and rust throughout the building, causing damage to interior walls and other surfaces. Several loading docks are non-functional and uneven, rendering them unusable. These uneven docks also create openings, exposing the building to the elements and providing an access point for unauthorized entry. As shown in Appendix B, the current owner has temporarily blocked these openings to prevent trespassing. Further damage was noted from a previous water pipe burst, caused by freezing in a bathroom located in the building's southwest corner. The former Sears Auto Center has several garage doors that are either faulty or broken, requiring padlocks to secure the building and prevent unauthorized access. Lastly, a separation was observed between two layers of a concrete block wall near the interior rooftop access point. During the secondary inspection, interior conditions have substantially worsened, with severe mold growth affecting nearly all interior spaces. Water damage, staining, and structural material deterioration have progressed. These conditions now pose heightened risks to building integrity and occupant health. The building's interior is currently unsafe for entry without personal protective equipment, as evidenced by the extreme mold conditions observed during the inspection. v,. conditions Which Endang, wife or Property by Fire and Other Causes C.1. Obsolete HVAC System ReadFast city Economic& Community Partners Page 17 The HVAC system at 330 Siemers Drive is outdated and unsuitable for future occupancy. HVAC system degradation has worsened since the initial inspection; of more than 20 units, only 9 furnaces remain operational, leaving the majority of the building uncontrolled from an environmental standpoint. The inability to regulate humidity and temperature has directly contributed to the accelerated mold growth and worsening interior deterioration. This situation necessitates the replacement of the HVAC units to mitigate risks associated with poor air quality and temperature control. Without proper climate regulation, the building faces increased risk of deterioration and occupant health issues. C.2. Fire Safety The vacant building at 330 Siemers Drive poses an enhanced fire risk due to a malfunctioning dry fire suppression system in the lawn and garden area. The system requires the replacement of a master control valve. Additionally, vacant properties are at higher risk of fire, particularly from arson. A study by the National Fire Protection Association found that vacant properties account for a disproportionate share of fires, with arson responsible for 43% of these incidents, posing substantial risks to property and public safety (NFPA, 2020). The inoperable fire suppression system exacerbates this threat. As confirmed by the property manager, the building's alarm system is no longer functioning. This represents a new and serious safety concern that was not present in the initial assessment, as a nonfunctional alarm system increases fire risk in an already compromised structure and limits the property's ability to detect or respond to emergencies. C.3. Trespassing and Illicit Activity Evidence of trespassing and illicit activity was found throughout the Area, including in areas not easily visible to the public. These activities include reckless driving, as indicated by tire marks on parking lot surfaces. Other signs of illicit behavior, such as vandalism, were evidenced by scattered litter, graffiti, and intentional damage to buildings and infrastructure. Additionally, property management staff and ownership reported persistent issues with squatters, illegal trespassing, and vandalism, which have required frequent repairs and the removal of abandoned belongings from the site, including a vehicle that had remained on the property for several years. Most recently, an incident report was filed with the City of Cape Girardeau Police Department after the front glass doors of the former Sears building were shattered. According to the responding officer, it appeared the glass had been "shot out." The incident report and images of the damage are included as Appendix D. CA. Exterior Lighting Lighting throughout the Area should be significantly improved by replacing existing fixtures with energy-efficient LED lights. Currently, inadequate lighting contributes to an environment that encourages and conceals illicit activities within the Area. The lack of ReadFast city Economic& Community Partners P a g e 18 exterior lighting also heightens safety risks and impedes the ability of security or law enforcement to effectively address or deter criminal activity. Furthermore, the previous owner of 330 Siemers Drive removed all lighting fixtures from the southwest entrance awning, creating hazardous conditions for accessing the site through this entrance if it were to be used in its current state. D. Economic Liability The Redevelopment Area has failed to increase in assessed value when compared to the Citywide commercial assessed value over the last 10 years, demonstrating a predominance of economic liability in the Area. Since 2016, the Area increased in assessed value by an average of 3.64%, while the City's total assessed value increased by nearly 40%. This discrepancy signifies a critical issue for the City's economic health. Properties that do not appreciate consistently with the broader market can stagnate growth and deter investment. When property values remain stagnant, it often indicates issues such as inadequate infrastructure or lack of amenities, which can deter new businesses and residents. Steadfast City Economic & Community Partners prepared Table D.1 using publicly available information from the Cape Girardeau County Taxing Districts Tax Books. As shown in Table D.1, both parcels have experienced consistent stagnant growth and only slightly increased in valuation over the last 10 years. Since 2016, 330 Siemers Drive has only increased 3.37% and 242 Siemers Drive has increased by 3.90% for an average of 3.64% increase in the Area. Table DA �.Assessed 330 Siemers Dr 242 ValuatioMML Siemers Dr , I 2025 $ 1,721,270 5% $ 1,760,820 5% 2024 $ 1,639,000 0% $ 1,676,970 0% 2023 $ 1,639,000 8% $ 1,676,970 9% 2022 $ 1,510,880 0% $ 1,545,590 0% 2021 $ 1,510,880 -9% $ 1,545,590 0% 2020 $ 1,665,100 0% $ 1,545,590 0% 2019 $ 1,665,100 0% $ 1,545,590 0% 2018 $ 1,665,100 0% $ 1,545,590 -9% 2017 $ 1,665,100 0% $ 1,694,720 0% 2016 $ 1,665,100 $ 1,694,720 Table D.2 summarizes Cape Girardeau citywide and Cape Girardeau countywide total commercial valuation data from the Cape Girardeau County Taxing Districts Tax Books from 2016 through 2025. Since 2016, citywide commercial valuation increased 40% while countywide valuation increased 46%. In contrast, the proposed Redevelopment Area ReadFast city Economic& Community Partners Page 19 properties increased in assessed valuation by only 3.64%, demonstrating an economic liability by not keeping pace with the City and County. Table D.2 As property taxes constitute the largest proportion of the City's budget, funding essential public services and infrastructure improvements, an area with static values represents a missed opportunity for increased fiscal resources. This stagnation can strain the City's budget and limit its ability to invest in other critical areas, potentially leading to a cycle of underdevelopment and economic decline. Addressing these issues will require targeted interventions to stimulate growth and attract investment, ensuring that the Area can contribute positively to the City's future development. ReadFast city Economic& Community Partners P a g e 110 $ 418,482,460 6.42% 2025 $ 281,619,890 5.64% 2024 $ 266,583,310 4.74% $ 393,226,300 4.42% 2023 $ 254,517,370 8.03% $ 376,594,400 4.35% 2022 $ 235,599,100 4.94% $ 360,881,640 5.55% 2021 $ 224,512,600 3.29% $ 341,919,670 3.32% 2020 $ 217,371,340 -0.04% $ 330,939,600 0.40% 2019 $ 217,450,470 1.15% $ 329,636,790 -1.73% 2018 $ 214,979,240 2.06% $ 335,424,910 8.92% 2017 $ 210,646,780 4.67% $ 307,959,000 7.45% 2016 $ 201,243,360 $ 286,600,720 As property taxes constitute the largest proportion of the City's budget, funding essential public services and infrastructure improvements, an area with static values represents a missed opportunity for increased fiscal resources. This stagnation can strain the City's budget and limit its ability to invest in other critical areas, potentially leading to a cycle of underdevelopment and economic decline. Addressing these issues will require targeted interventions to stimulate growth and attract investment, ensuring that the Area can contribute positively to the City's future development. ReadFast city Economic& Community Partners P a g e 110 III. Summary The blight study analysis conducted for the Area documents conditions that qualify the site as a "blighted area" under the CID Act and Chapter 353 Urban Redevelopment Corporations Law. The parcels proposed for remediation, two out of the three parcels, 242 and 330 Siemers Drive, exhibit physical and economic factors that constitute an economic and social liability, as well as a menace to public health, safety, and welfare in its present condition and use. The analysis identified extensive deterioration of site improvements, insanitary and unsafe conditions, fire hazards, and economic stagnation, all of which negatively impact the broader community. A secondary site inspection confirmed that these conditions have persisted, and in several areas, have worsened. The improvements to 242 and 330 Siemers Drive are necessary for the continued successful and safe operation of 262 Siemers Drive, as the Sonic depends on the conditions and infrastructure within the adjacent properties. Significant infrastructure issues, including failing stormwater management systems, poor drainage, and erosion, have led to hazardous walking and driving conditions. Water intrusion through cracked pavement and building fagades has accelerated the deterioration of sidewalks, parking lots, and structural components. The presence of mold or bacteria, both inside and outside the buildings, pose health risks for occupants and surrounding properties. The vacant building at 330 Siemers Drive suffers continued water damage, with widespread roof leaks, rusted fire suppression sprinkler heads, and deteriorated interior materials. The follow-up assessment identified extreme progression of mold growth throughout the former Sears building, indicating substantial worsening of interior conditions since the initial inspection. Additionally, exterior infrastructure, such as curbing, light poles, and fencing, shows decay, while litter and graffiti contribute to an environment of neglect. Minor improvements—such as debris removal and repainting of several exterior doors—were observed, but do not materially change the overall condition of the site. The site also presents fire and public safety concerns. The HVAC system at 330 Siemers Drive is largely non-functional, and its dry fire suppression system in the former lawn and garden area is inoperable, increasing fire risk. Vacant buildings are prone to arson and crime, and the lack of an effective fire safety system enhances this threat. During the secondary inspection, property management also reported failure of the building's alarm system, which has reached end -of -life and is no longer operational. Trespassing, vandalism, reckless driving, and other illicit activities continue to occur throughout the Area, which discourages business and investment. Inadequate lighting further enables these unsafe conditions by reducing visibility and hindering security enforcement. Beyond physical deterioration and safety risks, the Area represents an economic liability. Property values within the Area have only increased by an average of 3.64% over the past decade while the City experienced a 40% increase in assessed value. This lack of %1 SLeadFasLYcity Page 111 appreciation limits tax revenue and restricts the City's ability to fund essential services and infrastructure improvements. Without intervention, the Area will continue to contribute minimally to the City's economic health, missing opportunities for revitalization and growth. In conclusion, the Area meets the statutory definition of a "blighted area" due to the combination of insanitary and unsafe conditions, deterioration of site improvements, and economic liability. The secondary inspection reaffirms the persistence of these issues, with several conditions demonstrating notable deterioration since the initial visit. These factors not only hinder redevelopment efforts but also pose a direct threat to the public health, safety, and welfare. Addressing these issues is critical to reversing the Area's decline, mitigating risks, and creating an environment conducive to investment and community well-being. ReadFast city Economic& Community Partners P a g e 112 Appendix A Redevelopment Area Map2 sr, r z The Redevelopment Area is comprised of two legal parcels located at 242 and 330 Siemers Drive in the City. Pursuant to a triple net ground lease, a portion of 242 Siemers Drive is leased to a third -party entity operating a Sonic restaurant. The Sonic restaurant has a street address of 262 Siemers Drive. Because the third -party entity is required to pay all taxes and assessments with respect to the property at 262 Siemers Drive, the Cape Girardeau County Assessor has assigned the 262 Siemers Drive property its own tax parcel identification number, even though no separate legal parcel exists. ReadFast city Economic& Community Partners Page 113 Appendix B Site Assessment Photos 242 Siemers Drive: Exterior Deterioration of paved surface. ffiw� 3. "10 - ReaclFast city Economic& Community Partners Page 114 !tom SteaclFast city Economic& Community Partners P a g e 115 Deterioration of pedestrian pathways. Deterioration of pedestrian pathways and exterior building column. 1 ReadFast city Economic& Community Partners Page 116 Missing drain covers. Damage to column and mail container. !tom ReadFast city Economic& Community Partners Page 117 Examples of deterioration and damage found on light poles throughout the site. :41 IL All Inadequate lighting. Presence of mold and/or bacteria build-up on building fagade and other exterior components. M � OP n Steadfast city Ec—mic& Community Partners Page 118 !tom SteaclFast city Economic& Community Partners P a g e 119 Damage and deterioration to utility enclosure, exterior door, and waste enclosure 330 Siemers Drive: Site Exterior Evidence of reckless driving in parking areas and faded road paint needed to delineate parking spaces, drive lanes, parking areas, fire lanes, etc. ReadFast city Economic& Community Partners Page 120 Worn parking area and exterior fagade with remaining evidence of signage from past occupant. "No Trespassing" signs posted due to ongoing issues with trespassing and loitering. C t I ll� I L Damage to columns and graffiti. Aw Failure and collapse of parking area surface intended for drainage of water runoff. r� 4 'a �Al � t k ReadFast city Economic& Community Partners Page l 21 Damage to drainage area fencing and missing drain cover. 330 Siemers Drive: Building Exterior Deteriorating entrance pathways and rust on fire suppression system sprinklers. Separation of fagade from below surface and rusted pipes on building rooftop. r ReadFast city Economic& Community Partners P a g e 122 Damage to loading bay and rust on utility enclosure Rust and graffiti on exterior doors. Paint on pavement and building exterior due to vandalism. : Cracks in building fapade and vegetation growth. Deterioration of pavement below drain spouts due to poor management of water runoff. ReadFast city Economic& Community Partners P a g e 123 Moisture in building fagade, stains, and deteriorating paint. Missing roof canopy ceiling and lighting. 1 Stead Fast city Economic & Community Partners Page 124 330 Siemers Drive: Building Interior Separation in block wall and image of garage doors with faulty lock mechanisms. Uneven and inoperable loading bays that require additional materials to close gaps to exterior. ReadFasL city Page 125 Example of deterioration found throughout building interior flooring and fixtures. Damage to interior walls and paint from water infiltration. ReadFast city Economic & Community Partners Page 126 Mold and other damage from water infiltration through fagade and roof leaks. ReadFasL city Page 127 Damage from water infiltration through fagade and roof leaks. t r ReadFast city Economic & Community Partners Page 128 Damage from water infiltration. Damage in bathroom from water pipe burst. IL i� ReadFast city Economic& Community Partners P a g e 129 Damage from roof leaks. Evidence of standing water and moisture build-up in building. ReadFast city Economic& Community Partners Page 130 Appendix C Secondary Site Assessment Photos 11/17/2025 242 Siemers Drive: Exterior Advanced deterioration of paved surface. Continued deterioration of pedestrian pathways. !tom ReaclFast city Economic& Community Partners P a g e 131 Fr��II�A1� Deterioration of exterior building column with increased presence of mold on the building facade. ReadFast city Economic& Community Partners P a g e 132 Hazardous missing drain covers with worsening pavement. 330 Siemers Drive: Site Exterior Evidence of reckless driving is still prevalent in parking areas with faded road paint. Worsening collapse of parking area surface intended for drainage of water runoff. Stead Fast city Economic & Community Partners Page 133 330 Siemers Drive: Building Exterior Continued deterioration of entrance pathways and missing lighting. Moisture continuing to seep into building fagade, stains, and deteriorating paint t Evidence of poor management of water runoff with pavement damage worsening. � I � 7117 UR — ro- �- aM'tr- ReadFast city Economic& Community Partners Page 134 330 Siemers Drive: Building Interior Examples of prevalent and worsening deterioration found throughout building interior from mold and other damage caused by water infiltration. M- !4 S Fast city Economic & Community Partners Page 135 Additional/spreading damage to interior walls and paint from water infiltration. a. ReadFast city Economic& Community Partners Page 136 Evidence of continued and prolonged standing water and moisture build-up in building. !tom ReadFast city Economic& Community Partners Page 137 Appendix D Police Report: Case 25001559 Supporting images to official police report found on next page. ReadFast city Economic& Community Partners Page 138 CITY of CAPE GIRARDEAU Y JD I.Mw Lunn L11. LV tau Um.M 63/UI 513 3] E 1 I d 513 Jbu.ltil fw cftok e.a9Vr . POLICE DEPARTMENT Case 25001559 Printed on April 17, 2025 Status Approved Report Type Incident Primary Officer Madison Kirn Investigator None Reported At 04/10/25 09:17 Incident Date 04/10/25 09:17 Incident Code PROD: PROPERTY DAMAGE Location 330 SIEMERS DR. CAPE GIRARDEAU Zone C2 Beat Rover Disposition Inactive Disposition Date Time 04/10/25 10:07 Review for Gang Activity None Offense Information MO 63701 (SPIRIT Offense PROPERTY DAMAGE 1ST DEGREE Statute 569.100-001 NIBRS Code 290 - Destruction/Damage/Vandalism of Property Counts 1 Include In NIBRS Yes Completed Yes Bias Motivation None (no bias) Location Department/Discount Store Entry Forced No Victim MA Other 569.100-001 - PROPERTY DAMAGE 1ST DEGREE Case 25001559 Page 1 of 2 MA Primary Narrative By Madison Kirn Reporting Party: 569.100-001 - PROPERTY DAMAGE 1 ST DEGREE On Thursday. April 10. 2025. at approximately 0930 hours. I. Patrolman Kim. DSN 398. responded to 330 Siemers Dr.. at the old Sears building, for a property damage report. Upon arrival. I made contact with the Drury Land Development Facility Engineer. TROY MATLOCK. Matlock advised (2) of the front door windows were damaged sometimes between the hours of 1600 hours (4/9/225) and 0900 hours (4/10/25). 1 observed (2) windows shattered and they appeared to have been shot out due to the look of the glass damage and a small hole in each window. It is unknown at this time what was used to break the glass at this time due to no cameras in the area or other evidence. Matlock advised it would be approximately $1.000.00/each to fix the doors. ($2,000.00 total damage). Due to lack of evidence and witnesses. this case will be inactivated. A bulletin will be created for extra patrol to look for trespassers. Nothing further. Case 25001559 Page 2 of 2 DRUDRU®ELOPMENT CORPORATION Exhibit D Project Financing (Remainder of this page intentionally left blank) PROJECT FINANCING COMMITMENT Cape West Plaza Development Plan - Project Financing Letter January 14, 2026 Drury Development Corporation 13075 Manchester Road, Suite 200 St. Louis, MO 63131 Attn: Anthony C. Right, SVP and CFO To whom it may concern: You currently have availability under your operating line of credit with our bank to fund the $21 million of additional expenditures required to complete the redevelopment of Cape West Plaza in Cape Girardeau, Missouri, including the conversion of the former Sears Grand into a multi -tenant commercial space. Those funds are available to draw at any time and require no future approval. 1 understand, however, that your plans for redevelopment of Cape West Plaza are contingent upon securing sufficient tax incentives from the City of Cape Girardeau to make the project economically feasible. Should you have any questions, please do not hesitate to reach out. iks, ewandowski Senior Vice President- Commercial Real Estate U.S. Bank National Association 1 North Brentwood Blvd, Suite 1400 St. Louis, MO 63105 Staff: Ryan Shrimplin, City Planner Agenda: March 2, 2026 TITLE AGENDA REPORT Cape Girardeau City Council A Public Hearing to consider a request to rezone property located at 803 Independence Street from C-1 (General Commercial District) to R-4 (Medium Density Multifamily Residential District). (Item No. F.3., BILL NO. 26-18). SUMMARY A rezoning application has been submitted for the property at 803 Independence Street. The applicant is requesting that the property be rezoned from C-1 (General Commercial District) to R-4 (Medium Density Multifamily Residential District). The immediately surrounding properties are zoned C-1 (General Commercial District) on all sides. This area is characterized by commercial and residential uses. The Cape Vision 2040 Comprehensive Plan's Future Land Use Map shows the subject property as Local Commercial. A public hearing on the rezoning request has been scheduled for March 2, 2026. An ordinance rezoning the property to R-4 is on this agenda as a separate item. SUSTAINABILITY: ECONOMIC, ENVIRONMENTAL AND SOCIAL IMPACTS In considering a rezoning request, the Planning & Zoning Commission and the City Council must determine if the proposed zoning district is reasonable and in reasonable conformity with the existing uses and value of the immediately surrounding properties. The subject property contained a single- family dwelling until 2018 when it was demolished after being condemned. Since then, the property has been vacant. It is currently for sale, and a prospective buyer would like to build a single-family dwelling on it. Dwellings are not permitted in the C-1 district (the previous single-family dwelling was a nonconforming use). The property has frontage on Independence Street. A majority of the properties fronting on Independence Street are zoned commercial. However, there are several residential properties along the street. While its location makes the property suitable for commercial use, its size does not (less than 0.20 acre). In order to develop the property for a commercial use, the developer would have to provide a parking lot and a stormwater management system, which would leave little room for the building. Developing the property for a single-family dwelling requires much less parking and no stormwater management system. With the exception of the adjacent residential property to the south and the vacant lot to the east, the rest of the properties on this block of South Ellis Street are zoned R-4. Given the property's use history (as a residence), its physical characteristics (which pose challenges for developing it for commercial use), and its context (a mix of uses along Independence Street and nearby R-4 zoning), the proposed zoning district is reasonable and in reasonable conformity with the existing uses and value of the immediately surrounding properties. STAFF RECOMMENDATION The staff report to the Planning & Zoning Commission recommended approval of the rezoning request. BOARD OR COMMISSION RECOMMENDATION The Planning & Zoning Commission held a public hearing at its February 11, 2026 meeting and recommended approval of the rezoning request by a vote of 7 in favor, 0 in opposition, and 0 abstaining. PUBLIC OUTREACH The City Council's public hearing was advertised in the Southeast Missourian on February 14, 2026. In addition, a sign displaying the date, time, location, and subject of the Planning & Zoning Commission and City Council public hearings was posted on the property. Notices were also mailed to the adjacent property owners. ATTACHMENTS • Staff Review -Referral -Action Form.pdf • Map - Zoning - 803 Independence Street.pdf • Map - FLU - 803 Independence Street.pdf • Application - 803 Independence Street - Rezoning.pdf • Sec. 30-66. - C-1, General Commercial District.pdf • Sec. 30-60. - R-4, Medium Density Multifamily Residential District.pdf CITY OF CAPE GIRARDEAU, MISSOURI City Staff Review, Referral and Action on Rezoning/Special Use Permit Application FILE NO. 1493 LOCATION: 803 Independence Street STAFF REVIEW & COMMENTS: Cobret Joe is requesting to rezone property at 803 Independence Street from C-1 (General Commercial District) to R-4 (Medium Density Multi -family Residential District). SEE STAFF REPORT FOR FURTHER INFORMATION City Planner c% Date City Date CITY MANAGER REFERRAL TO THE PLANNING AND ZONING COMMISSION: City Date V Planning & Zoning Commission Public Hearing Sign Posting Date: Public Hearing Date: RECOMMENDED ACTION: Favgr Oppose Abstain Fa vgr Oppose Abstain Trae Bertrand Li Li Jones I+� ❑ ❑ Scott Blank ❑ ❑ ❑ Chris Martin ❑ ❑ Robbie Guard ❑,❑ ❑ Nick Martin ❑ ❑ Blake Hagedorn ❑�. ❑ ❑ Emily McElreath ❑ ❑ Derek Jackson C ❑ ❑ VOTE COUNT: Favor Q Oppose Abstain COMMENTS: CITIZENS COMMENTING AT MEETING: Chris Martin Planning & Zoning Commission Secretary City Council Action Posting Dates: Sign Newspaper Public Hearing Date: Ordinance I" Reading Ordinance 2nd & 3Yd Reading: VOTE COUNT: Favor Oppose Abstain ORDINANCE # Effective Date: Rezoning Request 803 Independence Street Rezoning Request 803 Independence Street REZONING / SPECIAL USE PERMIT APPLICATION CITY of CAPE GIRARDEAU COMMUNITY DEVELOPMENT DEPARTMENT, 44 NORTH LORIMIER STREET, CAPE GIRARDEAU, MO 63701 (573) 339-6327 scnL Property Address/Location 803 Independence St. Cape Girardeau, MO 63703 Applicant Property Owner of Record U Same as Applicant Cobret Joe Rick Morgan Mailing Address City, State, Zip Mailing Address City, State, Zip 227 S. Spanish St. Cape Girardeau, MO 63703 3075 State Highway Y. Jackson, MO 63755 Telephone Email Telephone Email 857-719-9371 CobretJoe@Gmail.com 573-450-1849 Contact Person (Attach additional owners information, if necessary) Cobret Joe T pe of Request Proposed Special Use (Special Use Permit requests only) Rezoning U Special Use Permit U Both Existing Zoning District Proposed Zoning District (Rezoning requests only) Choose a Zoning District f , Choose a Zoning District RA Legal description of property to be rezoned and/or upon which the special use is to be conducted The North 88 feet of Lots Nineteen (19) and Twenty (20) in Range "B" of the Painter Partition of City Lots Numbered 42 and 43 in Range "B", City and County of Cape Girardeau, Missouri, as shown by plat recorded in Plat Book 3 at Page 46, particularly described as follows: Begin at the Northeast comer of said Lot 20 in Range "B" which is the point of intersection of the South line of Independence Street with the West line of Ellis Street; thence South along the West line of Ellis Street, 88 feet; thence West, parallel with Independence Street, 90 feet to the West line of said Lot 19, Range 'B"; thence North parallel with Ellis Street and along the West line of said Lot 19, 88 feet to the South line of Independence Street; thence East, along the South line of Independence Street, 90 feet to the place of beginning. ( Parcel Number: 21-106-00-31-001.00-000) Describe the proposed use of the property. Proposed Structure: A contemporary, architecturally sensitive single-family home. The design will feature clean lines, durable, attractive materials, and a focus on maximizing natural light. This will be a single slope design with high ceilings and an aesthetically pleasing exterior. Outside of traditional site preparation, the structure of the high hills and the surrounding area will not be affected. The R-4 classification is requested to provide the necessary flexibility for a modern, compact footprint that is highly compatible with the diverse, mixed-use character of the surrounding independence Street corridor and the adiacent residential neighborhood. The proposed modem single-family home is intended to be a constructive addition to the neighborhood, enhancing the streetscape and contributing positively to the City's housing stock. The design will be carefully considered to ensure it complements the scale and massing of the adjacent structures. Infill Development and Highest/Best Use: The lot, given its dimensions and immediate proximity to established residential areas, is optimally suited for infill housing rather than new commercial development, which could pose challenges related to parking, traffic flow, and neighborhood compatibility. I'll provide more details if needed. Application continues on next page OFFICE USE ONLY Date Received & By I i — 21' •26r File # ,3 MUNIS Application # 1`14-1 MUNIS Permit #. Application Fee Received $ .®� U Check # U Credit Card 911cash Planning & Zoning Commission Recommendation Date City Council Final Action Date Revised 07/01/25 Special Use Criteria (Special Use Permit requests only) Explain how the special use permit request meets the criteria below. Attach additional sheets, if necessary. 1) The proposed special use will not substantially increase traffic hazards or congestion. 2) The proposed special use will not substantially increase fire hazards. 3) The proposed special use will not adversely affect the character of the neighborhood. 4) The proposed special use will not adversely affect the general welfare of the community. 5) The proposed special use will not overtax public utilities. ADDITIONAL ITEMS in addition to this completed application form, the following items must be submitted: REQUIRED Base Application fee - $155.00 payable to City of Cape Girardeau Planned Development rezoning only - Additional $92 payable to City of Cape Girardeau List of adjacent property owners (see Instructionsfor requirernents) See Instructions for more One (1) set of mailing envelopes, stamped and addressed to adjacent property owners OR information. $3.00 per adjacent property owner, 'if stamped envelopes are not submitted One (1) full size copy of a plat or survey of the property, if available One (1) full size set of plans, drawn to an appropriate scale, depicting existing features to be removed.. existing features to remain, and all proposed features such as: buildings and structures, paved areas, curbing, driveways, parking stalls, trash enclosures, fences, retaining walls, light poles, detention banns, landscaping areas, freestanding sign -s,, etc. (Planned Development rezonings and Special Use Permits only) One (1) set of Planned Development documents (Planned Develoement rezonings only) "OWN L The undersigned hereby certifies that: 1) They are the Property Owner(s) of Record for the property described in this application; 2) They acknowledge that the special use permit if approved, will become null and void if the use for which the permit was granted does not commence within twelve (1 2) months of the approval date, unless an extension has been granted; and 3) They acknowledge that they are responsible for ensuring that all required licenses and permits are obtained prior to commencing any use or work on the property. Property Owner of Record Signature and Printed Name Date 'Provide additional owners signatures and printed names in the space below, if applicable) The undersigned hereby certifies that they are an agent duly authorized by the Property Owner(s) of Record to file this application on their behalf,Land that operty Owner(s) of Record hereby agree to the above certifications. Applican&gr);rture and Printed Name Date Revised 07/01/25 cn LIJw z to o w V ��- z cr- w w a ® 0 w o� CL LU M z Z w rH � 0 0 0 m 0 N �o Qo (.a (.0 I'D M QD 0 0 0 0 0 a a a a w w w w 0 0 0 0 O w w w w to V V V V LU Q a Z a o co 0 w z o o'- 0 <z J a d-. m O d- oo V z C) w W z Ln � a oo rH o0 � V J z -' OC W z o G~C uww 0 = W G a a o U I- Li.i W z�uLU>- Z z U- 0 _J w V -� Ln z 0 a a w F'- z W (~ w > LL, a W V —� J LL 5 a F- V) W 0 — Q 0 � F- V) W V w o Z W a. O z -- F- un � J w z V w z CL w z W cn �' V) J w cn � F- cn U W M w w z Ln o ,« .n �-- �q » �� \:- )) � x ( � — - | | _ ° y � sz 25' , 2 2 ----- -� -- — � SELLISST -�— -- — - --- � — - . aE - mo ■ ! § 2 § ~ § / / ( § § ; / � k § ° z ..« Ko PLAN i | � ( § � | )) Sec. 30-66. - C-1, General Commercial District. (a) Purpose. The C-1 district is primarily intended for areas of the city located along minor thoroughfares and adjacent to residential districts. Appropriate uses for this district include commercial developments not requiring long-term outdoor display of merchandise, as well as certain governmental, institutional, and community service facilities. Other uses having the potential to significantly affect adjacent residential districts may be allowed with approval of a special use permit. (b) Permitted principal uses. (1) Art galleries or museums. (2) Banks or other financial institutions. (3) Bed and breakfasts. (4) Commercial day cares. (5) Commercial recreation facilities, excluding driving ranges or outdoor shooting or racing. (6) Comprehensive marijuana dispensary facilities, medical marijuana dispensary facilities, or microbusiness dispensary facilities, as permitted in section 30-118. (7) Funeral homes or mortuaries. (8) Governmental facilities. (9) Health or fitness centers. (10) Institutions of higher education, including business, career or technology schools. (11) Instructional schools for art, dance, music, martial arts or other disciplines. (12) Libraries. (13) Microbreweries. (14) Middle schools, secondary schools, or development centers for people with physical, mental or developmental disabilities. (15) Nurseries or greenhouses. (16) Nursing homes. (17) Offices. (18) Parks or playgrounds. (19) Personal service establishments. (20) Pet grooming facilities, excluding kennels. (21) Police or fire stations. (22) Residential treatment facilities. (23) Restaurants or bars. (24) Retail or rental establishments, excluding the sale or rental of outbuildings, vehicles, or large agricultural or construction equipment. (25) Television or radio studios, including any transmitting facilities. (26) Transit terminals. (27) Veterinary clinics or animal hospitals, excluding livestock. (28) Wineries. (c) Permitted accessory uses. (1) Accessory structures and uses customarily incidental to the above uses, as permitted in section 30-106. (2) Short-term use of shipping containers for accessory uses, as permitted in section 30-105. (3) Solar energy systems, as permitted in section 30-113. (d) Special uses. (1) Banquet facilities. (2) Hotels or motels. (3) Kennels. (4) Long-term use of shipping containers for accessory uses, as permitted in section 30-105. (5) Meeting halls. (6) Mini warehouses or self -storage units. (7) Public utilities, except for buildings or accessory structures that are normal and customary in a zoning district which would allow other buildings or structures of the same nature as a use - by -right. (8) Short-term or long-term use of shipping containers for principal uses, as permitted in section 30-105. (9) Telecommunication towers, as permitted in section 30-107. (10) The allowance of additional height up to a total of 60 feet, not to exceed a total of five stories. (11) Transitional housing. (12) Uses involving the sale or rental of outbuildings, vehicles, or large agricultural or construction equipment. (13) Vehicle fueling, service or repair facilities, excluding body or paint shops. (14) Vehicle washing facilities, including automatic or hand wash. (15) Wind energy conversion systems, as permitted in section 30-113. (e) Standards. (1) All storage of merchandise, materials, products or equipment shall be within a fully enclosed building or in an open yard so screened that the items being stored are not visible from the street or any adjacent property. (2) Outdoor display of merchandise is prohibited, except as follows: Merchandise may be displayed outdoors as part of a temporary use, as permitted in section 30-109. Nursery stock, accessory landscaping decorations, and seasonal and holiday decorations may also be displayed outdoors during the appropriate season. Such displays are permitted in accordance with the following provisions: a. Displays shall not be located in a right-of-way. b. Displays shall not be located in parking spaces used to meet the minimum number of parking spaces as required elsewhere in the city Code. Displays that are part of a bazaar, craft sale, garage or yard sale, or similar temporary event are exempt from this requirement, as determined by the city manager. c. Displays shall not impede vehicular or pedestrian access. d. Displays shall not alter the structure of any building. e. Displays shall not create a health or safety hazard. f. Displays shall be well kept and orderly. g. Signs may be displayed as permitted elsewhere in the city Code. h. The display of seasonal items shall be limited to a time period that is customary for the season associated with the display, which shall be at the discretion of the city manager. (3) Outdoor service areas and equipment such as loading docks, mechanical equipment, storage areas or waste containers shall be located in the rear or side yard and screened as required elsewhere in the city Code. (f) Height, area, width, setback and open space requirements. (1) Maximum height: 40 feet, not to exceed three stories. (2) Minimum lot area: None. (3) Minimum lot width: None. (4) Minimum setbacks: a. Front yard: 25 feet. b. Rear yard: None, except 20 feet when adjacent to a residential use or district, or ten feet when adjacent to an agricultural use or district. c. Side yard: None, except 20 feet when adjacent to a residential use or district, or ten feet when adjacent to an agricultural use or district. (5) Minimum open space: 15 percent of the lot area. (Code 1990, § 30-333; Ord. No. 5211, art. 4, 7-15-2019; Ord. No. 5615, art. 3, 2-6-2023) Sec. 30-60. - R-4, Medium Density Multifamily Residential District. (a) Purpose. The R-4 district provides for multifamily dwellings and other residential uses with a maximum density of 20 units per one acre. Single-family detached and two-family (duplex) dwellings are permitted in order to accommodate existing R-4 zoned lots that either contain such uses or are not large enough to be developed for multifamily dwellings. It is not intended for new single-family detached or two-family subdivisions, which are prohibited. (b) Permitted principal uses. (1) Single-family detached dwellings, with only one dwelling per lot, and excluding new single- family detached subdivisions. (2) Two-family (duplex) dwellings, excluding new two-family subdivisions. (3) Multifamily dwellings. (4) Townhouses. (5) Cluster subdivisions, as permitted elsewhere in the city Code. (6) Nursing homes, senior citizen housing and retirement homes. (7) Noncommercial, not-for-profit residential neighborhood facilities consisting of indoor and/or outdoor recreational facilities, offices of property owners' associations, and maintenance facilities operated by a neighborhood or community organization or a property owners' association. (8) Public parks, playgrounds, and recreational facilities. (9) Police and fire stations. (10) Elementary, middle and secondary schools, and development centers for elementary, middle and secondary school age children with physical, mental or developmental disabilities. (11) Commercial day cares. (c) Permitted accessory uses. (1) Private garages, carports and accessory structures, as permitted in section 30-106. (2) Home occupations, as permitted in section 30-108. (3) Solar energy systems, as permitted in section 30-113. (4) Short-term use of shipping containers for accessory uses, as permitted in section 30-105. (d) Special uses. (1) Bed and breakfasts. (2) Boutique hotels. The term "boutique hotel" shall mean an establishment containing a minimum of five and a maximum of 20 rooming units, which is used or advertised as a place where lodging accommodations are supplied for pay to guests for lodging occupancy with rooms having access to the outside through an interior hallway connected to the main lobby of the building, and which may provide additional services such as restaurants, meeting rooms, entertainment and recreational facilities. (3) Cemeteries, on a minimum of ten acres of land. (4) Long-term use of shipping containers for accessory uses, as permitted in section 30-105. (5) Public utilities, except for buildings and accessory structures that are normal and customary in a zoning district which would allow other buildings of the same nature as a use -by -right. (6) Residential treatment facilities. (7) Transitional housing. (8) Wind energy conversion systems, as permitted in section 30-113. (e) Height, area, bulk and setback regulations. (1) Maximum height: Five stories not to exceed 60 feet. (2) Minimum lot area: a. Each townhouse must be on a separate platted lot consisting of at least 1,400 square feet. b. All other uses: 3,750 square feet. (3) Maximum density: 20 units per one acre. Higher densities may be approved with a cluster subdivision, as permitted elsewhere in the city Code. (4) Minimum lot width: a. Each townhouse: 20 feet. b. All other uses: None. (5) Minimum yard requirements: a. Front yard: 1. Each townhouse: Ten feet. 2. All other uses: 25 feet. b. Rear yard: 1. Each townhouse: 20 feet. 2. All other uses: 25 feet. c. Side yard: 1. Each townhouse: None. 2. All other uses: Five feet. (6) Maximum building coverage, including accessory buildings: 50 percent of the lot for all uses except townhouses. (7) Open space requirements. For any multifamily residential uses or nonresidential uses, a minimum of 20 percent of the total lot area shall be devoted to open space, including required yards and bufferyards. (f) Parking regulations. Off-street parking and loading spaces shall be provided in accordance with the requirements for specific uses set forth in chapter 25, article II of this Code. There shall be no parking, stopping, or standing of trucks or commercial motor vehicles licensed for a gross weight in excess of 24,000 pounds, except as provided in sections 26-148 and 26-298. (Code 1990, § 30-325; Ord. No. 5012, art. 4,10-2-2017; Ord. No. 5550, art. 1, 6-20-2022; Ord. No. 5635, art. 1, 4-17-2023; Ord. No. 5864, art. 1, 9-15-2025) Staff: Gayle Conrad, Director of Citizen Services/City Clerk Agenda: March 2, 2026 TITLE AGENDA REPORT Cape Girardeau City Council Approval of the February 17, 2026, Regular Session City Council Minutes. SUMMARY Approval of the February 17, 2026, Regular Session City Council Minutes. STAFF RECOMMENDATION Approve. ATTACHMENTS • 2026.02.17 Council Minutes DRAFT.pdf Proceedings of the City Council, City of Cape Girardeau, Mo. Regular Session February 17, 2026 MM -225 STUDY SESSION — February 17, 2026 NO ACTION TAKEN DURING THE STUDY SESSION The Cape Girardeau City Council held a study session at the Cape Girardeau City Hall on Tuesday, February 17, 2026, at 5:00 p.m. with Mayor Stacy Kinder presiding and Council Members Mark Bliss, David Cantrell, Bryan Johnson, Dan Presson, Tameka Randle and Nate Thomas present. REGULAR SESSION — February 17, 2026 CALL TO ORDER The Cape Girardeau City Council convened in regular session at the Cape Girardeau City Hall on Tuesday, February 17, 2026, at 5:48 p.m. with Mayor Stacy Kinder presiding and Council Members Mark Bliss, David J. Cantrell, Bryan Johnson, Dan Presson, Tameka Randle and Nate Thomas were present. ADOPTION OF THE AGENDA A Motion was made by Mark Bliss, Seconded by Tameka Randle, to approve and adopt the agenda. Motion passed. 7-0. Ayes: Bliss, Cantrell, Johnson, Kinder, Presson, Randle, Thomas. CONSENT AGENDA Approval of the February 2, 2026, Regular Session City Council Minutes. BILL NO. 26-10, an Ordinance authorizing the Mayor to execute a Memorandum of Understanding with Cape Girardeau County, City of Jackson, and Southeast Missouri State University, regarding a Joint Emergency Operations Center. Second and Third Readings. BILL NO. 26-11, an Ordinance vacating the City's interest in a portion of Frederick Street Right - of -Way, in the City of Cape Girardeau, Missouri. Second and Third Readings. BILL NO. 26-13, a Resolution authorizing the City Manager to execute an agreement with Corporate Flight Management, Inc., to Provide Air Carrier Service at the Cape Girardeau Regional Airport. Reading and Passage. A Motion was made by Mark Bliss, Seconded by Dan Presson, to approve and adopt. Motion passed. 7-0. Ayes: Bliss, Cantrell, Johnson, Kinder, Presson, Randle, Thomas. BILL NO. 26-10 will be Ordinance NO. 5887; BILL NO. 26-11 will be Ordinance NO. 5888. BILL NO. 26-13 will be Resolution NO. 3695. NEW ORDINANCES BILL NO 26-14, an Ordinance accepting a Permanent Utility Easement from C&L Quality Construction, LLC for Lot 24 of Rock Gardens Subdivision, in the City of Cape Girardeau, Missouri. First Reading. Mayor Kinder called for public appearances regarding this Bill. No one appeared. Proceedings of the City Council, City of Cape Girardeau, Mo. Regular Session February 17, 2026 MM -226 A Motion was made by Dan Presson, Seconded by Nate Thomas, to approve. Motion passed. 7-0. Ayes: Bliss, Cantrell, Johnson, Kinder, Presson, Randle, Thomas. APPEARANCES REGARDING ITEMS NOT ON THE AGENDA Lauren Jones, member of the River Campus Board of Managers, appeared in support of reviving the River Campus. MEETING ADJOURNMENT A Motion was made to adjourn by Dan Presson, Seconded by Mark Bliss. Motion passed. 7-0. Ayes: Bliss, Cantrell, Johnson, Kinder, Presson, Randle,Thomas. The regular session ended at 5:56 p.m. Courtney Davis, Deputy City Clerk Stacy Kinder, Mayor Staff: Trevor Pulley, Assistant City Manager Agenda: March 2, 2026 TITLE AGENDA REPORT Cape Girardeau City Council BILL NO 26-14, an Ordinance accepting a Permanent Utility Easement from C&L Quality Construction, LLC for Lot 24 of Rock Gardens Subdivision, in the City of Cape Girardeau, Missouri. Second and Third Readings. SUMMARY It was discovered that the sanitary sewer line serving the Rock Gardens Subdivision, during construction, had to be relocated/built slightly to the south of its planned location due to rock at the site. This put it outside of the platted easements of 3 lots along the north side of the subdivision that adjoin LaSalle Ave: Lots 45, 35 & 36; and, just barely inside the platted easement area of 1 other lot of Rock Gardens Subdivision: Lot 24. Additional easements have been and are being acquired to widen the easement areas of these 4 lots of Rock Gardens Subdivision. For Lot 24 of the Rock Gardens Subdivision, addressed as 3641 Tower Ridge, the sanitary sewer line was relocated during construction and was barely inside the platted easement of the subdivision. But it was really too close to the edge of the easement to allow enough room to properly maintain the utility infrastructure as constructed. The City obtained additional easement area from this property owner, C&L Quality Construction, LLC, to allow the needed room to function if/when this sewer line needs to be maintained. FINANCIAL IMPACT The City will pay the recording fees for the Permanent Utility Easement, which was donated by the property owner. SUSTAINABILITY: ECONOMIC, ENVIRONMENTAL AND SOCIAL IMPACTS The easement is necessary to enable the City, its agents, servants and assigns, to use said property to excavate, build, maintain, construct, operate, and repair Utility Infrastructure in, on, upon, under or across said property, together with all the useful, necessary and proper adjuncts, appurtenances, and appliances in connection therewith. STAFF RECOMMENDATION Staff recommends Council approve the attached Ordinance accepting a Permanent Utility Easement for Lot 24 of Rock Gardens Subdivision (addressed as 3641 Tower Ridge), in the City of Cape Girardeau, Missouri. ATTACHMENTS • 26-14_PUE_ 3641_ Tower Ridge.doc • GOOD Lot 24 -Esmt Exhibit for Lot 24 2021-10-19.pdf • PUE Lot 24 Rock Gardens Subdivision Cody Lincoln EXECUTED.pdf BILL NO. 26-14 ORDINANCE NO. AN ORDINANCE ACCEPTING A PERMANENT UTILITY EASEMENT FROM C&L QUALITY CONSTRUCTION, LLC, FOR LOT 24 OF ROCK GARDENS SUBDIVISION, IN THE CITY OF CAPE GIRARDEAU, MISSOURI BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU, MISSOURI, AS FOLLOWS: ARTICLE 1. The City of Cape Girardeau, Missouri, hereby accepts, and agrees to accept, a Permanent Utility Easement from C&L Quality Construction, LLC, for Lot 24 of Rock Gardens Subdivision, in the City of Cape Girardeau, Missouri, described as follows: THAT PART OF LOT 24 OF ROCK GARDENS SUBDIVISION AS RECORDED IN DOCUMENT NO. 2017-02114 IN THE LAND RECORDS OF CAPE GIRARDEAU COUNTY, MO, BEING PART OF FRACTIONAL SECTION 3, TOWNSHIP 31 NORTH, RANGE 13 EAST OF THE FIFTH PRINCIPAL MERIDIAN, IN THE CITY AND COUNTY OF CAPE GIRARDEAU, STATE OF MISSOURI, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE SOUTHWEST CORNER OF SAID LOT 24, THENCE WITH THE SOUTH LINE OF SAID LOT, SOUTH 85014'16" EAST, 10.00 FEET; THENCE LEAVING SAID SOUTH LINE, NORTH 04045'44" EAST, 71.73 FEET TO THE POINT OF BEGINNING; THENCE NORTH 04045'44" EAST, 10.00 FEET; THENCE ALONG A NON-TANGENTIAL CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 1545.00 FEET, A DISTANCE OF 100.30 FEET (THE CHORD OF SAID CURVE BEARS SOUTH 83028'39" EAST, 100.28 FEET); THENCE ALONG A NON- TANGENTIAL CURVE CONCAVE TO THE WEST WITH A RADIUS OF 12.00 FEET, A DISTANCE OF 2.07 FEET, (THE CHORD OF SAID CURVE BEARS SOUTH 03030'03" WEST, 2.06 FEET); THENCE ALONG A REVERSE CURVE TO THE LEFT WITH A RADIUS OF 135.00 FEET, A DISTANCE OF 7.95 FEET, (THE CHORD OF SAID CURVE BEARS SOUTH 06044'46" WEST, 7.95 FEET); THENCE ALONG A NON-TANGENTIAL CURVE CONCAVE TO THE SOUTHWEST WITH A RADIUS OF 1535.00 FEET, A DISTANCE OF 100.05 FEET, (THE CHORD OF SAID CURVE BEARS NORTH 83028'12" WEST, 100.03 FEET); TO THE POINT OF BEGINNING AND CONTAINING 1,002 SQUARE FEET, MORE OR LESS. 1 ARTICLE 2. This ordinance shall be in full force and effect ten days after its passage and approval. PASSED AND APPROVED THIS day of , 2026. Stacy Kinder, Mayor ATTEST: Courtney Davis, Deputy City Clerk oil LOT #35 LOT #34 LOT #25 LOT #24 KOEHLER ENGINEERING AND LAND SURVEYING, INC. Civil Engineering and Surveying Services 194 Coker Lane - Cape Girardeau, MO 63701 Phone: 573.335.3026 - Fax: 573.335.3049 www.koehlerengineering.com DATE: 10/06/2021 PROJECT: 35798 DRAWING EASEMENT EXHIBIT FOR LOT #24 ROCK GARDENS SUBDIVISION1 of 1 EXHIBIT N E S W 2 3 1 2 3 KEYED NOTES 1 1 4 4 LASALLE AVENUE R/W VARIES POINT OF BEGINNING POINT OF COMMENCEMENT PERMANENT UTILITY EASEMENT KNOW ALL MEN BY THESE PRESENTS: C&L Quality Construction, LLC, a Missouri Limited Liability Corporation, in consideration of the sum of One Dollar ($1.00) and other good and valuable consideration, the receipt of which is hereby acknowledged, do hereby grant, bargain, sell and convey to the CITY OF CAPE GIRARDEAU, MISSOURI, a Municipal Corporation, hereinafter called the "City", the right, privilege, permission and authority to enter on and upon the following described property which is solely owned by the undersigned located in the City and County of Cape Girardeau, Missouri, to -wit: That part of lot 24 of rock gardens subdivision as recorded in document no. 2017-02114 in the land records of Cape Girardeau County, MO, being part of fractional section 3, township 31 north, range 13 east of the fifth principal meridian, in the City and County of Cape Girardeau, State of Missouri, being more particularly described as follows: At the southwest corner of said lot 24, thence with the south line of said lot, south 85°14'16" east, 10.00 feet; thence leaving said south line, north 04°45'44" east, 71.73 feet to the point of beginning; thence north 04°45'44" east, 10.00 feet; thence along a non-tangential curve concave to the southwest having a radius of 1545.00 feet, a distance of 100.30 feet (the chord of said curve bears south 83°28'39" east, 100.28 feet); thence along a non-tangential curve concave to the west with a radius of 12.00 feet, a distance of 2.07 feet, (the chord of said curve bears south 03°30'03" west, 2.06 feet); thence along a reverse curve to the left with a radius of 135.00 feet, a distance of 7.95 feet, (the chord of said curve bears south 06044'46" west, 7.95 feet); thence along a non-tangential curve concave to the southwest with a radius of 1535.00 feet, a distance of 100.05 feet, (the chord of said curve bears north 83°28'12" west, 100.03 feet); to the point of beginning and containing 1,002 square feet, more or less.. Said right, privilege, permission and authority to enter in and upon said property above described is granted for the purpose of enabling the City, its agents, servants and assigns, to use said property for the management of utilities and for the purpose of enabling the City of Cape Girardeau, Missouri, its agents, servants and assigns to excavate, build, maintain, construct, operate, and repair said utilities from time to time, in, on, upon, or across said described property, together with all the useful, necessary and proper adjuncts, appurtenances, manholes, and appliances in connection therewith. This easement and the right, privilege, permission and authority herein granted is perpetual and shall run with the land. (Signature Page to Follow) IN WITNESS WHEREOF, the undersigned has executed this easement this day of� ignaturc�- Z/"V�k t ",I e. (I Printe4 Name and Title STATE OF MISSOURI ) ) ss. COUNTY OF CAPE GIRARDEAU ) BE IT REMEMBERED, that on this _ d y of before m�the undersigned notary public, personally appeared (ue d fi 1, who being by me duly sworn, did state that he/she has the authority to sign as a representative of C&L Quality Construction, LLC, a Missouri Limited Liability Corporation, and acknowledged that he/she has executed the same for the purposes therein contained. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal, the date last above written. Rj(X ^! SINLAIR Notary Public • 14otary Seal Cape Girarteaw C: t.r:y S:a.: et-.Ossouri Commission 4umber 212 rt�t. 8 My cartunission Expires AUs 3 t , 2025 My Commission Expires: 1 `1 -: Notary Publi Signature W. S NORTH ORIENTATION FROM MISSOURI STATE PLANE COORDINATE SYSTEM, EAST ZONE, DERIVED FROM THE MISSOURI DEPARTMENT _ OF TRANSPORTATION VIRTUAL REFERENCE SYSTEM, WITH UNITS CONVERTED TO FEET LASALLE AVENUE — R/W VARIES R-1545,00' L-100.30' CH: S831939% 100.29 N00544'E 4 — — 10.00' 3 R-1200' L -z07' SS SS- SS CH: S3*WO3`W, 208' POINT OF BEGINNING LOT #35 i I 12,855 SQ FT 0.30 ACRES I I I I I I I POINT OF ------COMMENCEMENTS I I � N83i8'003!�L/ I 12"W, 10' 1 1 R-153500' L.100.05' '' i R -135A0' L-7.95' CH: W4461, 7.95' w l i LOT #24 11,993 SQ FT I I w l i 0.28 ACRES ;0,4 v ROCK GARDEN SUBDIVISION DOC. NO. #2017-02114 i I I I �I '-------------- I "---- SB5'14'I6"E- - _ _ _ 10.00' -- - -, I � I I I ' I I I I LOT #25 10,000 SO FT I i 0.23 ACRES I I � I I I ' I I I I ' I I ' I � I --- ------------ - - - - JI Description of Sanitary Sewer Easement THAT PART OF LOT 24 OF ROCK GARDENS SUBDIVISION AS RECORDED IN DOCUMENT NO. 2017-02114 IN THE LAND RECORDS OF CAPE GIRARDEAU COUNTY, MO, BEING PART OF FRACTIONAL SECTION 3, TOWNSHIP 31 NORTH, RANGE 13 EAST OF THE FIFTH PRINCIPAL MERIDIAN, IN THE CITY AND COUNTY OF CAPE GIRARDEAU, STATE OF MISSOURI, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE SOUTHWEST CORNER OF SAID LOT 24, THENCE WITH THE SOUTH LINE OF SAID LOT, SOUTH 85'14'16" EAST, 10.00 FEET; THENCE LEAVING SAID SOUTH LINE, NORTH 04'45'44" EAST, 71.73 FEET TO THE POINT OF BEGINNING, THENCE NORTH 04'45'44" EAST, 10.00 FEET; THENCE ALONG A NON-TANGENTIAL CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 1545.00 FEET, A DISTANCE OF 100.30 FEET (THE CHORD OF SAID CURVE BEARS SOUTH 83'28'39" EAST, 100.28 FEET); THENCE ALONG A NON-TANGENTIAL CURVE CONCAVE TO THE WEST WITH A RADIUS OF 12,00 FEET, A DISTANCE OF 2.07 FEET, (THE CHORD OF SAID BEARS SOUTH 03'30'03" WEST, 2.06 FEET); THENCE ALONG A REVERSE CURVE TO THE LEFT WITH A RADIUS OF 135,00 FEET, A DISTANCE OF 7.95 FEET, (THE CHORD OF SAID CURVE BEARS SOUTH 06'44'46" WEST, 7.95 FEET); THENCE ALONG A NON-TANGENTIAL CURVE CONCAVE TO THE SOUTHWEST WITH A RADIUS OF 1535.00 FEET, A DISTANCE OF 100.05 FEET, (THE CHORD OF SAID CURVE BEARS NORTH 83'28'12" WEST, 100.03 FEET);TO THE POINT OF BEGINNING AND CONTAINING 1,002 SQUARE FEET, MORE OR LESS. DATE: 10/06/2021 PROJECT: 35798 EASEMENT EXHIBIT FOR DRAWING LOT #24 ROCK GARDENS '� of 1 EXHIBIT SUBDIVISION I I I I I I I I I I I I I I I I I I I I I I I I . I KEYED NOTES OEXISTING 10' WIDE DRAINAGE & UTILITY EASEMENT (DOC. NO. 2017-02114) ONEW 10' WIDE UTILITY EASEMENT OEXISTING SANITARY SEWER LINE 4OEXISTING 20' WIDE DRAINAGE & UTILITY EASEMENT NO. 2017-D2114) Legend - - - - - - - - - = SANITARY SEWER EASEMENT ®= NEW 10' WIDE UTILITY EASEMENT GRAPHIC SCALE 30 0 15 30 ( IN FEET ) 1 inch = 30 1t. MKOEHLER ENGINEERING AND LAND SURVEYING, INC. Mil Englneering and Surveying Sam - 194 Coker Lane -Cape Girardeau, MO 63701 Phone: 573.335.3026 - Fax: 573.335,3049 —.koehlerengineadng.eom Staff: Ryan Shrimplin, City Planner Agenda: March 2, 2026 TITLE AGENDA REPORT Cape Girardeau City Council BILL NO. 26-15, a Resolution authorizing the City Manager to execute a Performance Guarantee Agreement with Forefront Holdings, LLC, for improvements for Deer Run Estates Phase 2, in the City of Cape Girardeau, Missouri. Reading and Passage. SUMMARY Section 25-360 of the City's Code of Ordinances requires public improvements in new subdivisions to be installed or guaranteed prior to approval of the record plat by the City Council. Forefront Holdings, LLC, developer of the Deer Run Estates Phase 2 subdivision, has constructed the public improvements except for sidewalks and streetlights. Forefront Holdings, LLC has executed a Performance Guarantee Agreement with the City to guarantee construction of the sidewalks and streetlights in order to move forward with approval of the record plat. The Agreement is backed by a performance bond in the amount of $325,705.60, which is based on a cost estimate prepared by the City's Engineering Services Division. A resolution authorizing the City Manager to execute the Agreement is attached. Also attached are the Agreement and the bond. FINANCIAL IMPACT Per the Agreement, if the developer does not construct the sidewalks and streetlights within two years, then the City may file a claim with the surety to receive payment from the bond and construct them. STAFF RECOMMENDATION Staff recommends approval of the resolution. ATTACHMENTS • 26-15 Agreement Forefront Holdings, LLC Deer Run Estates Phase 2.doc • PGA - Deer Run Estates Phase 2 (Sidewalks & Streetlights) - 2026 - Executed.pdf BILL NO. 26-15 RESOLUTION NO. A RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE A PERFORMANCE GUARANTEE AGREEMENT WITH FOREFRONT HOLDINGS, LLC, FOR IMPROVEMENTS FOR DEER RUN ESTATES PHASE 2, IN THE CITY OF CAPE GIRARDEAU, MISSOURI BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU, MISSOURI, AS FOLLOWS: ARTICLE 1. The City Manager, for and on behalf of the City of Cape Girardeau, Missouri, is hereby authorized to execute a Performance Guarantee Agreement with Forefront Holdings, LLC, for public sidewalk and streetlight improvements for Deer Run Estates Phase 2, in the City of Cape Girardeau, Missouri. The Agreement shall be in substantially the form attached hereto, which document is hereby approved by the City Council, and incorporated herein by reference, with such changes or amendments as shall be approved by the officers of the City executing the same. The officers, agents, and employees of the City are hereby authorized to execute all documents and take steps as they deem necessary and advisable to carry out and perform the purpose of this Resolution. PASSED AND ADOPTED THIS day of , 2026. Stacy Kinder, Mayor ATTEST: Courtney Davis, Deputy City Clerk PERFORMANCE GUARANTEE AGREEMENT DEER RUN ESTATES PHASE 2 (SIDEWALKS & STREETLIGHTS) This Performance Guarantee Agreement, hereinafter referred to as this "Agreement", is made and entered into this day of , 20 , by and between FOREFRONT HOLDINGS, LLC, a Missouri Limited Liability Company, having its principal office and place of business at 3082 County Road 620, Cape Girardeau, MO 63701, hereinafter referred to as the "Developer", and the CITY OF CAPE GIRARDEAU, MISSOURI, a Municipal Corporation organized and existing under the laws of the State of Missouri, hereinafter referred to as the "City". The Developer and the City collectively are hereinafter referred to as the "Parties". WITNESSETH: WHEREAS, the Developer is the owner of Deer Run Estates Phase 2, a proposed subdivision located within the City of Cape Girardeau, Missouri, and has submitted to the City improvement plans and specifications for said subdivision, which have been approved by the City, and has submitted a record plat for said subdivision with request that said plat be approved by the City; and WHEREAS, the Developer proposes to meet the ordinance requirements of the City with respect to the posting of this Agreement prior to the approval of said record plat by the City. NOW, THEREFORE, in consideration of the foregoing and of the mutual promises and agreements contained herein, the Parties stipulate and agree as follows: 1. The Developer has submitted to the City a record plat for Deer Run Estates Phase 2, hereinafter referred to as the "Proposed Subdivision", with request that said plat be approved by the City. The Developer has also submitted improvement plans for the Proposed Subdivision, which have been approved by the City. 2. Lexington National Insurance Company, hereinafter referred to as the "Surety", has issued a Performance Bond. for the cost of the public sidewalk and streetlight improvements in the Proposed Subdivision. The Performance Bond is attached to this Agreement as "Exhibit A" and made a part hereof as though fully set out herein. The Performance Bond obligates the Surety to remit payment to the City to cover the cost of completing the public sidewalk and streetlight improvements in the Proposed Subdivision should the Developer fail to complete said improvements. 3. A copy of the most recent financial statement of the Surety is made available for the purpose of guaranteeing to the City that the Surety, as the issuer of the Performance Bond to the Developer, has sufficient resources with which to uphold its guarantee. Page 1 of 5 4. Upon approval by the City through its Administrative Officer for the release of the Performance Bond, this Agreement shall be terminated and the Developer and the Surety shall be released from any further obligation to the City insofar as the provisions of this Agreement are concerned. 5. If, after two (2) years from the date of this Agreement, all of the public sidewalk and streetlight improvements shown on the approved improvement plans and specifications have not been completed, then the City may file a claim with the Surety for payment to cover the cost of completing said improvements. 6. This Agreement shall not in any fashion be construed to limit the powers, rights, or duties of the City, but shall be construed in the light of the applicable City ordinances. 7. No part of this Agreement may be assigned by the Developer or the Surety without first obtaining the express written consent of such assignment by the City, but the City agrees not to unreasonably withhold such consent. date. IN WITNESS WHEREOF, the Parties have executed this Agreement as of the above (Signatures on following pages) Page 2 of 5 FOREFRONT HOLDINGS, LLC J RPMoss, Manager 11A- �c Regina Moss, Manager STATE OF MISSOURI ) ) SS. COUNTY OF CAPE GIRARDEAU ) ON THIS ( day of JCtV%LCkV U , 20 Ato before me, a Notary Public in and for said State, personally appeared Justin Moss, Robert Moss, and Regina Moss, Managers of Forefront Holdings, LLC, a Missouri Limited Liability Company, known to me to be the persons described in and who executed the foregoing instrument, and acknowledged that they executed the same as the free act and deed of said Limited Liability Company for the purposes therein stated. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in said State and County, the date first above written. CATHYMILER Notary Public - Notary Seal STATE OF MISSOURI (Notar Public gnature) Cape Girardeau County MY C0 Comm ssioni res'# 26398175ctober 8' 2029 y I1f `j V (Printed Name) My Commission Expires: 0 r 'A�' k'�9 Page 3 of 5 CITY OF CAPE GIRARDEAU, MISSOURI Dr. Kenneth Haskin, City Manager ATTEST: (Attestor Signature) (Printed Name and Title) STATE OF MISSOURI ) ) SS. COUNTY OF CAPE GIRARDEAU ) ON THIS day of , 20 before me, a Notary Public in and for said State, personally appeared Dr. Kenneth Haskin, City Manager of the City of Cape Girardeau, Missouri, a Municipal Corporation organized and existing under the laws of the State of Missouri, known to me to be the person described in and who executed the foregoing instrument, and acknowledged that the foregoing instrument was signed and sealed on behalf of said City by authority of its City Council, and acknowledged that he executed the same as the free act and deed of said City for the purposes therein stated. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in said State and County, the date first above written. (Notary Public Signature) (Printed Name) My Commission Expires: Page 4 of 5 EXHIBIT A PERFORMANCE BOND (on following pages) Page 5 of 5 PERFORMANCE BOND Bond No. L347985-2108 Premium: $9,771.17 KNOW ALL MEN BY THESE PRESENTS, that we, Forefront Enterprises - 2607 Prairie Lane Cape Girardeau MO 63701 As Principal, and Lexington National Insurance Company - P.O. Box 6098 Lutherville, MD 21094 Authorized to do business in the State of Missouri , as Surety, are held and firmly bound unto City of Cape Girardeau as obligee, in the penal sum of Three Hundred and Twenty -Five Thousand Seven Hundred and Five and 60/100 ($ 325,705.60 ) DOLLARS, lawful money of The United States of America, for the payment of which well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors, and assigns, jointly and severally, firmly by these presents. WHEREAS, Forefront Enterprises has agreed to construct in City of Cape Girardeau The following improvements: Deer Run Estates Phase 2 - Street Lights & Sidewalk NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the said Principal shall construct, or have constructed, the improvements herein described and shall save the Obligee harmless from any loss, cost or damage by reason of its failure to complete said work, then this obligation shall be null and void; otherwise to remain in full force and effect. Signed, sealed and dated this SURETY 21st Lexington National Insurance Company as° day of November , 2025 UU9". By: Christopher Kolger Attorney -In -Fact PRINCIPAL Forefront Enterprises B A<k n 06 55 0 a POWER OF ATTORNEY Lexington National Insurance Corporation Lexington National Insurance Corporation, a corporation duly organized under the laws of the State of Florida and having its principal administrative office in Baltimore County, Maryland, does hereby make, constitute and appoint: Christopher Koiger and Aaron Steffey as its true and lawful attorney-in-fact, each in their separate capacity, with full power and authority to execute, acknowledge, seal and deliver on its behalf as surety any bond or undertaking of $1,500,000 or less. This Power of Attorney is void if used for any bond over that amount. This Power of Attorney is granted under and by authority of the following resolutions adopted by the Board of Directors of the Company on February 15, 2018: Be it Resolved, that the President or any Vice -President shall be and is hereby vested with full power and authority to appoint suitable persons as Attorney -in -Fact to represent and act for and on behalf of the Company subject to the following provisions: Attorney -in -Fact may be given full power and authority for and in the name of and on the behalf of the Company, to execute, acknowledge and deliver any and all bonds, contracts, or indemnity and other conditional or obligatory undertakings, including any and all consents for the release of retained percentages and/or final estimates on engineering and construction contracts, and any all notices and documents cancelling or terminating the Company's liability thereunder and any such instruments so executed by any Attorney -in Fact shall be binding upon the Company as if signed by the President and sealed by the Corporate Secretary. RESOLVED further, that the signature of the President or any Vice -President of LEXINGTON NATIONAL INSURANCE CORPORATION may be affixed by facsimile to any power of attorney, and the signature of the Secretary or any Assistant Secretary and the seal of the Company may be affixed by facsimile to any certificate of such power, or any such power or certificate bearing such facsimile signature or seal shall be valid and binding on the Company. Any such power so executed and sealed and certified by certificate so executed and sealed with respect to any bond to which it is attached continue to be valid and binding upon the Company. IN WITNESS WHEREOF, the Company have caused this instrument to be signed and their corporate seal to be hereto affixed. y`p9UPAN°FOO Ronald A. Frank, President 1989 a State of Maryland County of Harford County, SS: ��r•eatu° Before me, a notary public, personally appeared, Ronald A. Frank, President of Lexington National Insurance Corporation, who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument. I certify under the PENALTY of PERJURY under the laws of the State of Maryland that the foregoing paragraph is true and correct. WITNESS my hand and official seal. 9PRNS3 yp Commission Expires: 05/23/24 Notary I, Lisa R. Slater, Secretary of Lexington National Insurance Corporation, do hereby certify that the above and foregoing is true and correct copy of a Power of Attorney, executed by said company, which is still in full force and effect; furthermore, the resolutions of the Boards of Directors, set out in the Power of Attorney are in full force and effect. In Witness Whereof, I have hereunto set my hand and affixed the seal of said Company at Baltimore, Maryland this 21st day of November, 2025 Corporate Seal: Lisa R, Slater, Secretary NnicTower of Attorney form CS 2027.poa Staff: Trevor Pulley, Assistant City Manager Agenda: March 2, 2026 TITLE AGENDA REPORT Cape Girardeau City Council BILL NO. 26-16, an Ordinance approving an Amended and Restated Petition for the creation of a Community Improvement District; establishing the Cape West Plaza Community Improvement District as a political subdivision of the State of Missouri; and authorizing the City to enter into certain agreements and take certain other actions in connection therewith. First Reading. DEV - Trevor Pulley SUMMARY Community Improvement District: Drury Development Corporation proposes to create a CID within the Redevelopment Area to impose (1) a sales and use tax at the rate of 1% and (2) a special assessment in an amount roughly equivalent to the value of the real property tax abatement granted under Chapter 353, which will be imposed on each parcel within the CID in the same years that such parcel is receiving tax abatement under Chapter 353. The name of the proposed District is the Cape West Plaza Community Improvement District. The proposed District consists of approximately 20.25 acres, and all real property located within the proposed District has a total current assessed value of approximately $3,651,980. CID will terminate at the earlier of (1) 27 years after the CID is created or (2) payment of CID Obligations in the principal amount of $27,500,000 plus all City application fees, permit fees and other fees incurred in connection with the CID Project plus issuance costs. The proposed District shall be formed as a political subdivision governed by a board of directors composed of five directors appointed by the Mayor of the City, with the consent of the City Council. Each director shall, during his or her term, meet the qualifications of Section 67.1451.2 of the CID Act, provided that two of the directors shall meet the requirements of Section 67.1451.2(3) of the CID Act. In addition, so long as either or both Petitioners own any real property within the District, three of the five directors shall be legally authorized representatives of such Petitioner(s). Successor directors shall be appointed in the same manner. Successor directors shall serve for a term of four years. The proposed District shall be authorized, upon approval by the qualified voters of the proposed District, to impose a sales and use tax (the "CID Sales Tax") at a rate of up to one percent (1%) on all eligible retail sales made in the proposed District in accordance with Section 67.1545 of the CID Act, for the duration permitted by the CID Act.The proposed District shall also be authorized to impose an annual special assessment on each tract, lot or parcel located in the proposed District (the "Special Assessments") in accordance with Section 67.1521 of the CID Act, for a period of time not to exceed the length of time for the existence of the District. FINANCIAL IMPACT Community Improvement District: Drury Development Corporation proposes to create a CID within the Redevelopment Area to impose (1) a sales and use tax at the rate of 1% and (2) a special assessment in an amount roughly equivalent to the value of the real property tax abatement granted under Chapter 353, which will be imposed on each parcel within the CID in the same years that such parcel is receiving tax abatement under Chapter 353. CID will terminate at the earlier of (1) 27 years after the CID is created or (2) payment of CID Obligations in the principal amount of $27,500,000 plus all City application fees, permit fees and other fees incurred in connection with the CID Project plus issuance costs. SUSTAINABILITY: ECONOMIC, ENVIRONMENTAL AND SOCIAL IMPACTS Estimated Value of All Incentives: $11,727,500 o Approximately $11,500,000 for the Chapter 353 tax abatement and CID (total capped pursuant to the Redevelopment Agreement) o Approximately $227,500 for the Chapter 100 sales and use tax exemption Benefits to City: o Approximately $330,000 annually in new sales tax revenue (2.75%) from new tenants o Approximately $13,000,000 in sales tax revenue (2.75%) from all tenants (existing and new) within the Redevelopment Area over a 10 -year period o Turn long -vacant Sears Grand site into a multi -tenant commercial use, creating jobs within the City o Additional personal property tax revenues in first 10 years, additional real and personal property tax revenues during next 15 years Benefits to Other Taxing Entities: o Significant additional sales tax revenue to the County from new tenants o Additional personal property tax revenues in first 10 years, additional real and personal property tax revenues during next 15 years STAFF RECOMMENDATION It is recommended the City Council approve the attached Ordinance. PUBLIC OUTREACH The proposed project was presented at the February 17, 2026, Council Study Session. Notices of a Public Hearing concerning the formation of the Cape West Plaza Community Improvement District and proposed use of Missouri Revised Statues Chapter 353 tax abatement were published in the Southeast Missourian newspaper and held at the March 2, 2026 Council Meeting. ATTACHMENTS • 26-16_Cape West Plaza (CID)Amended Petition.doc • Cape West Plaza CID Petition AMENDED Executed Notarized 20260225.pdf • Redevelopment Agreement.pdf BILL NO. 26-16 ORDINANCE NO. AN ORDINANCE APPROVING AN AMENDED AND RESTATED PETITION FOR THE CREATION OF A COMMUNITY IMPROVEMENT DISTRICT; ESTABLISHING THE CAPE WEST PLAZA COMMUNITY IMPROVEMENT DISTRICT AS A POLITICAL SUBDIVISION OF THE STATE OF MISSOURI; AND AUTHORIZING THE CITY TO ENTER INTO CERTAIN AGREEMENTS AND TAKE CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH. WHEREAS, the Community Improvement District Act, Sections 67.1401 to 67.1571 of the Revised Statutes of Missouri (the "CID Act"), authorizes the governing body of any municipality, upon receipt of a proper petition and after holding a public hearing, to adopt an ordinance establishing a community improvement district; and WHEREAS, on February 13, 2026, a "Petition for the Creation of a Community Improvement District" (the "Original Petition") was submitted to the City Clerk of the City of Cape Girardeau, Missouri (the "City"); and WHEREAS, on February 27, 2026, an "Amended and Restated Petition for the Creation of a Community Improvement District," which corrects a scrivener's error in the legal description attached to the Original Petition but does not change the proposed boundaries of the District (as hereinafter defined), was submitted to the City Clerk of the City, a copy of which is set forth as Exhibit A, attached hereto and incorporated herein by reference (the "CID Petition"); and WHEREAS, the CID Petition proposes the formation of the Cape West Plaza Community Improvement District (the "District"), consisting of approximately 20.25 acres of real property located at 242 and 330 Siemers Drive in the City, for the purpose of paying the costs associated with certain improvements to be made within the proposed District's boundaries (the "District Project"); and WHEREAS, the City Clerk verified that the CID Petition is proper in that it complies with Section 67.1421.2 of the CID Act; and WHEREAS, in connection with consideration of Bill No. 26-17, Steadfast City Economic & Community Partners has prepared an analysis (the `Blight Analysis") that documents the current conditions of the District Project area and supports a finding that such area is a "blighted area" as defined in the CID Act; and WHEREAS, the City Council held a duly noticed public hearing on March 2, 2026, at which notice of the contents of the amended petition was given and all persons interested in the formation of the District were allowed an opportunity to speak and the City Council heard all protests and received all endorsements; and WHEREAS, following closure of the public hearing and upon due consideration of the comments received at the hearing, the City Council has determined that it is in the interest of the public health, safety and general welfare of the people of the City to establish the District and authorize certain actions and documents in connection therewith. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU, MISSOURI, AS FOLLOWS: Section 1. Establishment of the District. The Cape West Plaza Community Improvement District is hereby established within the City as a political subdivision of the State of Missouri, having the powers and purposes set forth in the CID Petition. The District shall include the contiguous tracts of real estate described in Exhibit A to the CID Petition. Section 2. Term of the District. The term of the existence of the District shall be from the effective date of this Ordinance until the earlier to occur of the following: (a) all of the District's obligations issued to finance or reimburse the District for eligible District Project costs have been fully paid or cancelled; or (b) 27 years from the date of adoption of this Ordinance. Notwithstanding the foregoing, the term of the existence of the District shall expire on December 31, 2026 if the District has not authorized the execution of the hereinafter -defined Cooperation Agreement by such date. Section 3. Governance of the District. The District will be governed by a board of directors consisting of five members hereafter appointed by the Mayor with the consent of the City Council in accordance with the CID Act and the CID Petition. Section 4. Imposition of Sales Tax and Special Assessments. The District may, upon approval by the qualified voters of the District, impose a sales and use tax on all retail sales made in the District at a rate not to exceed one percent (1.0%) of such retail sales, as specifically authorized by the CID Act, to provide funds to accomplish any power, duty or purpose of the District. The District may, upon receipt of and in accordance with a proper petition (the "Special Assessment Petition") executed by the requisite percentage of owners of real property within the boundaries of the District, levy an annual special assessment on each tract, lot or parcel located within the District in an amount not to exceed the amounts set forth in the CID Petition and the Special Assessment Petition, as specifically authorized by the CID Act, to provide funds to accomplish any power, duty or purpose of the District. Section 5. Blight Finding. In connection with the passage of Bill No. 26-17, the City Council hereby finds and determines that the real property located in the District is a "blighted area" pursuant to Section 67.1401.2(3) of the CID Act. Section 6. Authorization of the Cooperation Agreement. The City is hereby authorized to enter into a Cooperation Agreement (the "Cooperation Agreement") by and among the City, the District, Drury AT 2024, LLC, Drury Land Development, Inc., Drury Development Corporation and the Cape West Plaza Redevelopment Corporation in substantially the form of Exhibit B, attached hereto and incorporated herein by reference, with such changes therein as shall be approved by the officials of the City executing the document and consistent with the intent hereof, such officials' signatures thereon being conclusive evidence of their approval thereof. The City Manager is hereby authorized to execute the Cooperation Agreement, for and on behalf of and as the act and deed of the City. The City Clerk is hereby authorized to attest to and affix the seal of the City to the Cooperation Agreement. Section 7. Notice of District's Creation. The City Clerk is hereby directed to notify the Missouri Department of Economic Development and the State Auditor in writing of the District's creation as required by Section 67.1421.6 of the CID Act. Section 8. Further Authority. The officers of the City are hereby authorized and directed to execute all documents and take such actions as they may deem necessary or advisable to carry out and perform the purposes of this Ordinance and to make ministerial alterations, changes or additions to the documents herein approved, authorized and confirmed which they may approve, and the execution of such documents or the taking of such actions shall be conclusive evidence of such necessity or advisability. All actions taken to date by the officers of the City with respect to the CID Petition and the BOA District, including, without limitation, the provision of notices for the public hearing regarding the creation of the District, are hereby ratified. Section 9. Severability. The sections of this Ordinance shall be severable. If any section of this Ordinance is found by a court of competent jurisdiction to be invalid, the remaining sections shall remain valid, unless the court finds that: (a) the valid sections are so essential to and inseparably connected with and dependent upon the void section that it cannot be presumed that the City Council has or would have enacted the valid sections without the void one; and (b) the valid sections, standing alone, are incomplete and are incapable of being executed in accordance with the legislative intent. Section 10. Effective Date. This Ordinance shall take effect and be in full force 10 days after its passage by the City Council. PASSED AND APPROVED this : day of , 2026. Stacy Kinder, Mayor F.111 0 1113 1 Courtney Davis, Deputy City Clerk -3- EXHIBIT A CID PETITION (On file in the office of the City Clerk) EXHIBIT B COOPERATION AGREEMENT (On file in the office of the City Clerk) AMENDED AND RESTATED PETITION FOR THE CREATION OF A COMMUNITY IMPROVEMENT DISTRICT To the City of Cape Girardeau, Missouri: The undersigned petitioners (together, "Petitioners' are the owners or representatives of the owners of record of more than fifty percent (50%) (a) by assessed value of all real property within the hereinafter described community improvement district, and (b) per capita of all owners of real property within such community improvement district. Petitioners hereby petition and request that the City of Cape Girardeau, Missouri (the "City"), create a community improvement district as described herein, to be known as the CAPE WEST PLAZA COMMUNITY IMPROVEMENT DISTRICT (the "District"), pursuant to the authority of the Community Improvement District Act, Sections 67.1401 to 67.1571 of the Revised Statutes of Missouri, as amended (the "CID Act"). The proposed District is contiguous and located entirely within the City. 2. A legal description of the proposed District is set forth as Exhibit A, attached hereto and incorporated herein by reference. A map illustrating the boundaries of the proposed District is set forth as Exhibit B, attached hereto and incorporated herein by reference. The name of the proposed District is the Cape West Plaza Community Improvement District. 4. The proposed District consists of approximately 20.25 acres, and all real property located within the proposed District has a total current assessed value of approximately $3,651,980. Petitioners represent 100% per capita of all owners of record of the real property located within the boundaries of the proposed District, and 100% by assessed value of all real property within the boundaries of the proposed District, as more particularly described in the Petitioners' signature block to this Amended and Restated Petitionforthe Creationofa Community Improvement District (this "Petition") and as set forth in the table below 1. Owner Situs Address Parcel Number Acres Assessed Value Drury AT 2024, LLC 330 Siemers Drive, Cape Girardeau, MO 63701 20-309-00-02-005.00-0000 10.85 $1,721,270 Drury Land Development, Inc. 242 Siemers Drive, Cape Girardeau, MO 63703 20-309-00-02-004.00-2000 8.87 $1,760,820 Drury Land Development, Inc. 262 Siemers Drive, Cape Girardeau, MO 63703 20-309-00-02-004.00-2001 0.53 $ 169,890 Totals: 20.25 $3,651,980 The boundaries of the proposed District are comprised of two legal parcels located at 242 and 330 Siemers Drive in the City. Pursuant to a triple net ground lease, a portion of 242 Siemers Drive is leased to D&B Properties, Inc. and occupied by a standalone Sonic restaurant. The Sonic restaurant has a sheet address of 262 Siemers Drive. Because D&B Properties, Inc. is required to pay all taxes and assessments with respect to the property at 262 Siemers Drive, the Cape Girardeau County Assessor has assigned the 262 Siemers Drive property its own tax parcel identification number, even thoughno separate legal parcel exists. In addition, the Cape Girardeau County Assessor's records reflect D&B Properties, Inc. as the "deed holder" of such property; however, a representative from the Cape Girardeau Comity Assessor's office has confirmed that such designation is solely for tax assessment and billing purposes. The proposed District shall be formed as a political subdivision governed by a board of directors composedof fivedirectors appointedbythe Mayorofthe City,with the consentofthe City Council. Each director shall, during his or her term, meet the qualifications of Section 67.1451.2 of the CID Act, provided that two of the directors shall meet the requirements of Section 67.1451.2(3) of the CID Act. In addition, so long as either or both Petitioners own any real property within the District, three of the five directors shall be legally authorized representatives of such Petitioner(s). Successor directors shall be appointed in the same manner. Successor directors shall serve for a term of four years. The Petitioners hereby request that the Mayor, with the consent of the City Council, appoint the initial directors with the respective terms of office as set forth in the table below: Name Initial Term Mike Prehm 4 years Mike Jost 4 years Julie Freed 2 years An individual who meets the requirements of 2 years Section 67.1451.2(3) of the CID Act (e.g. a City resident without financial interest An individual who meets the requirements of 2 years Section 67.1451.2(3) of the CID Act (e.g. a City resident without financial interest Petitioners are requesting that the City declare the real property of the proposed District as set forth in Exhibit A to be a "blighted area" pursuant to Section 67.1401.2(3) of the CID Act, which requires that such blighted area meet the requirements set forth in Section 99.805 of the Revised Statutes of Missouri, as amended. 9. Petitioners do not seek any limitations on the borrowing capacity of the proposed District. Notwithstanding anything in this Petition to the contrary, obligations issued by or on behalf of the proposed District to finance the costs of the CID Project (as defined herein) may be issued in one or more phases. 10. Petitioners do not seek limitations on the revenue generation of the proposed District, except as otherwise provided in this Petition. 11. The proposed District shall have all powers provided in the CID Act, except as otherwise provided in this Petition. 12. The proposed District shall be authorized, upon approval by the qualified voters of the proposed District, to impose a sales and use tax (the "CID Sales Tax") at a rate of up to one percent (1%) on all eligible retail sales made in the proposed District in accordance with Section 67.1545 of the CID Act, for the duration permitted by the CID Act. 13. The proposed District shall also be authorized to impose an annual special assessment on each tract, lot or parcel located in the proposed District (the "Special Assessments' in accordance with Section 67.1521 of the CID Act, for a period of time not to exceed the length of time for the existence of the District. 2 14. The Special Assessments shall be levied against tracts, lots or parcels benefited within the proposed District in an annual amount not to exceed the greater of (a) the difference between (1) the property taxes that would have otherwise been payable on such real property and the improvements thereon but for the real property exemption granted by the City pursuant to Section 3 53.110 of the Revised Statutes of Missouri, as amended, and (2) the sum of any taxes and payments in lieu of taxes paid with respect thereto, or (b) the annual special assessment schedule set forth as a schedule to the Petition for Special Assessments described in Paragraph 15 of this Petition. 15. A petition authorizingthe Special Assessments (the "PetitioiiforSpeeialAssessineiits'� is set forffi as Exhibit C, attached hereto and incorporated herein by reference, which petition is substantially in the form provided for in Section 67.1521.2 of the CID Act. Upon the City's adoption of an ordinance approving this Petition (the "Ordinance"), Petitioners hereby request the City Cleric forward a certified copy of the Ordinance and this Petition (including the Petition for Special Assessments) to the board of directors of the proposed District. The receipt of such Ordinance and Petition (including the Petition for Special Assessments) shall enable the board of directors of the proposed Districtto levythe Special Assessments byresolution in accordance with Section 67.1521 of the CID Act. To the extent that the Special Assessments collected and received by the District exceed the amount necessary to finance CID Project costs of $11,500,000 (excluding all City application fees, permit fees and other fees incurred in connection with the CID Project (which, in the aggregate, shall not exceed $200,000), Costs of Issuance', if any, and the proposed District's administrative fees and expenses including, butnot limitedto, fees and costs related to the proposed District's formation, planning consultants, advisors, auditors and legal counsel), as more particularly described in the Petition for Special Assessments, any excess funds shall be refunded to the owners of such tracts, lots or parcels that paid the final year of Special Assessments, pro rata relative to the amounts paid by such owners. Such refunds shall be made by December 31 of the year following the final year of the Special Assessments. 16. The Special Assessments shall not be levied on any property that is exempt from taxation pursuant to Section 137.100.5 of the Revised Statutes of Missouri, as amended, unless the owner of such property agrees to voluntarily participate in the provisions of the CID Act and the payment of the proposed District's Special Assessments in accordance with Section 67.1461.8 of the CID Act. 17. Notwithstanding anything in the CID Act orthis Petition to the contrary,the proposed District shall have no power to levy real property taxes or business license taxes and, therefore, the maximum rates of real property taxes and business license taxes proposed in this Petition are zero. 18. A five-year plan stating a description of the purposes of the proposed District, the services it will provide, the improvements it will make and an estimate of the costs of these services and improvements to be incurred (collectively, the "CID Project") is set forth in Exhibit D, attached hereto and incorporated herein by reference. It is anticipated that the proposed District will use the moneys received fromthe impositionof the CID Sales Tax and Special Assessments to finance and reimburse those eligible CID Project costs incurred on its behalf. 19. The estimated cost of the CID Project is $22,950,915 (excluding all City application fees, permit fees and other fees incurred in connection with the CID Project (which, in the aggregate, shall not 2 "Costs of Issuance" shall mean all costs reasonably incurred by the proposed District in furtherance of the issuance of any bonds or notes, singly or in series, issued by or on behalf of the proposed District pursuant to the CID Act, if any, including but not limited to the fees and expenses of financial advisors, municipal advisors and consultants, the proposed District's attorneys (including issuer's counsel and bond counsel), underwriters' discounts and fees, the costs of printing any obligations of the proposed District and any official statements relating thereto, the costs, if any, of credit enhancement, capitalized interest, debt service reserves and the fees of any rating agency rating any obligations of the proposed District. exceed $200,000), Costs of Issuance, if any, and the proposed District's administrative fees and expenses including, but not limited to, fees and costs related to the proposed District's formation, planning consultants, advisors, auditors and legal counsel), as more particularly described in Exhibit D. 20. The proposed District's Board of Directors shall commence the procedures provided in the CID Act for the termination of the proposed District upon the earlier to occur of the following: (a) all of the proposed District's obligations used to finance and reimburse all of the eligible CID Project costs incurred within the boundaries of the proposed District having been fully paid or cancelled in accordance with the terms ofthe CID Act, or (b) 27 years from the date of adoption ofthe Ordinance unless the term of the proposed District is otherwise extended pursuant to Section 67.1481.6 of the CID Act. For the purposes of the CID Act, this paragraph constitutes the proposed length of time for the existence of the proposed District. 21. The signatures of each signer of this Petition may not be withdrawn later than seven days after this Petition is filed with the City Clerk. 22. Petitioners respectfully request that the proposed District be established pursuant to the CID Act. Dated this 25th day of February, 2026. (The remainder of this page is intentionally left blank.) PETITIONERS: NAME OF OWNER: Drury AT 2024, LLC TELEPHONE NUMBER: 314-423-6698 MAILING ADDRESS: 13075 Manchester Road, Suite 200 St. Louis, Missouri 63131 NAME OF SIGNER AND BASIS OF Anthony C. Right, Senior Vice President and Chief LEGAL AUTHORITY TO SIGN: Financial Officer of Drury Development Corporation, Owner's Member/Manager SIGNER'S TELEPHONE NUMBER: 314-423-6698 SIGNER'S MAILING ADDRESS: 13075 Manchester Road, Suite 200 St. Louis, Missouri 63131 TYPE OF ENTITY: A Missouri limited liability company MAP: See Exhibit B PARCEL NUMBERS: ASSESSED VALUE: 20-309-00-02-005.00-0000 $1,721,270 NAME OF OWNER: Drury Land Development, Inc. TELEPHONE NUMBER: 314-423-6698 MAILING ADDRESS: 13075 Manchester Road, Suite 200 St. Louis, Missouri 63131 NAME OF SIGNER AND BASIS OF Anthony C. Right, Senior Vice President and Chief LEGAL AUTHORITY TO SIGN: Financial Officer of Drury Development Corporation, Owner's Sole Shareholder SIGNER'S TELEPHONE NUMBER: 314-423-6698 SIGNER'S MAILING ADDRESS: 13075 Manchester Road, Suite 200 St. Louis, Missouri 63131 TYPE OF ENTITY: A Missouri corporation MAP: See Exhibit B PARCEL NUMBERS: ASSESSED VALUE: 20-309-00-02-004.00-2000 $1,760,820 20-309-00-02-004.00-2001 $ 169,890 [SIGNATURE PAGES OF PETITIONERS FOLLOW] By executing this Petition on this 25th day of February, 2026, the undersigned represents and warrants thathe is authorized to executethis Petition on behalf ofDrury AT2024,LLC, one of the properly owners named above. The undersigned also acknowledges that his signature may not be withdrawn later than seven (7) days after this Petition is filed with the City Clerk. STATE OF MISSOURI SS. COUNTY OF ST. LOUIS DRURY AT 2024, LLC, a Missouri limited liability company By: Drury Development Corporation, Member/Manager By. C Anthony C. Right, Se or Vice President and Chief Financial Officer Onthis25thday of February in the year 2026 before me, 04 -end An terl a Notary Public in and for said state, personally appeared Anthony C. Right, Senior Vice President and Chief Financial Officer of Drury Development Corporation, Member/Manager of Drury AT 2024, LLC, known to me to be the person who executed the within Petition in behalf of said limited liability company and acknowledged to me he executed the same for the purposes therein stated. WITNESS my hand and official seal this 25th day of February, 2026. -V`— Notary Publ /y4 `�e� / CHERYL ANN KERN Printed Name: l' [ IV Notary Public - Notary Seat STATE OF MISSOURI St. Louis City My Commission Expires: A06 ' o2do2 My Commission Expires: Apr. 28, 2029 Commission # 13504650 [SIGNATURE PAGE OF PETITIONER DRURY AT 2024, LLC] By executing this Petition on this 25th day of February, 2026, the undersigned represents and warrants that he is authorized to execute this Petition on behalf of Drury Land Development, Inc., one of the property owners named above. The undersigned also acknowledges that his signature may not be withdrawn later than seven (7) days after this Petition is filed with the City Clerk. STATE OF MISSOURI W1 COUNTY OF ST. LOUIS DRURY LAND DEVELOPMENT, INC., a Missouri corporation By: Drury Development Corporation, Sole Shareholder By. C ��A Anthony Cf Right, SeUor Vice President and Chief Financial Officer On this 25th day of Febnrary in the year 2026 before me, NeL-q( &i ee-rA a Notary Public in and for said state, personally appeared Anthony C. Right, Senior Vice President and Chief Financial Officer ofDrury Development Corporation, Sole Shareholder ofDruryLand Development, Inc., known to me to be the person who executed the within Petition in behalf of said corporation and acknowledged to me he executed the same for the purposes therein stated. WITNESS my hand and official seal this 25th day of February, 2026. Notary Publi Printed Name: My Commission Expires: alp, J402I CHERYL ANN KERN Notary Public - Notary Seal STATE OF MISSOURI St. Louis City My Commission Expires: Apr. 28, 2029 Commission # 13504650 [SIGNATURE PAGE OF PETITIONER DRURY LAND DEVELOPMENT, INC.] Exhibit A Legal Description of Proposed District THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY AND COUNTY OF CAPE GIRARDEAU, STATE OF MISSOURI, AND DESCRIBED AS FOLLOWS: ALL OF LOT TWO (2) OF CAPE WEST 12TH SUBDIVISION IN THE CITY AND COUNTYOF CAPE GIRARDEAU, MISSOURI, AS SHOWN BY PLAT FILED IN PLAT BOOK 22 AT PAGE 68. ALSO, PARTOF LOTNO.3 OF CAPE WEST SEVENTH SUBDIVISIONAS SHOWN BYPLATRECORDED IN PLAT BOOK NO. 18 AT PAGE NO. 65, DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHWEST CORNER OF LOT NO.2 OF CAPE WEST 12TH SUBDIVISION AS SHOWN ON PLAT FILED IN BOOK 22, PAGE 68; THENCE N21'4 5'00"W, 592.13' ALONG THE EASTERLY RIGHT OF WAY LINE OF SIEMERS DRIVE TO THE BEGINNING OF A CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 703.15 FEET AND A CENTRAL ANGLE OF 22°29'23" AND A LENGTH OF 276.00 FEET IN A NORTHWESTERLY DIRECTION ALONG SAID CURVE, AND RIGHT OF WAY; TO A POINT AT THE NORTHWEST CORNER OF SAID LOT TWO (2) ON THE EAST RIGHT OF WAY LINE OF SIEMERS DRIVE; THENCE CONTINUING ALONG THE CURVE FOR 10.39' HAVING A RADIUS OF 703.15 FEET AND A CENTRAL ANGLE OF 00° 50'48"; THENCE CONTINUING ALONG SAID RIGHT OF WAY LINE THE FOLLOWING COURSES AND DISTANCES: N45 °05' 12"W, 156.61 FEET TO THE BEGINNING OF A CURVE CONCAVE TO THE NORTHEAST HAVING A RADIUS OF 660.00 FEET AND A CENTRAL ANGLE OF 23'20'12"; THENCE ALONG SAID CURVE IN A NORTHWESTERLY DIRECTION 268.82 FEET; THENCE N21- 45'00"W, 97.69 FEET; THENCE S68°15' 00"W, 10.00 FEET; THENCE N21- 45' 00"W, 51.21 FEET TO THE SOUTHWEST CORNER OF LOT 3 A OF CAPE WEST SEVENTH AS SHOWN BY PLAT RECORDED IN PLAT BOOK NO. 18 PAGE NO. 65; THENCE DEPARTING SAID RIGHT OF WAY LINE ALONG THE SOUTH LINE OF SAID LOT 3A THE FOLLOWING COURSES AND DISTANCES; N68 '15'00"E, 343.05 FEET; THENCE N21- 45' 00"W, 132.59' FEET; THENCE N68° 15'00"E, 210.00 FEET; THENCE S21 '45'00"E, 124.59 FEET; THENCE N68° 15' 00" E, 170.50 FEET TO THE SOUTHEAST CORNER OF SAID LOT 3A OF CAPE WEST SEVENTH, SAID POINT ALSO BEING ON THE WEST RIGHT OF WAY LINE OF INTERSTATE 55; THENCE S21 -45'00"E, 559.13' ALONG SAID WEST RIGHT OF WAY TO THE NORTHEAST CORNER OF SAID LOT TWO (2) OF CAPE WEST 12TH SUBDIVISION; THENCE S21 -45'00"E, 54.33 FEET; THENCE S68° 15'00" W, 40.00 FEET; THENCE S21° 45'00"E, 30.00 FEET; THENCE N680 15'00"E, 40.00 FEET TO A POINT TO THE AFORESAID WESTERLY RIGHT OF WAY LINE OF ROUTE 55; THENCE ALONG SAID RIGHT OF WAY LINE THE FOLLOWING COURSES AND DISTANCES: S21 -45'00"E, 375.99 FEET; THENCE S18° 53' 15"E, 100.12 FEET; THENCE S210 45' 00"E 313.36 FEET TO A POINT BEING THE SOUTHEAST CORNER OF THE AFOREMENTIONED LOT TWO OF CAPE WEST 12TH SUBDIVISION; THENCE S68 -15'00"W, 535.00 FEET ALONG THE SOUTH LINE OF SAID LOT TWO TO THE SOUTHWEST CORNER OF LOT 2 OF CAPE WEST 12TH SUBDIVISION TO THE POINT OF BEGINNING, CONTAINING 20.217 ACRES. THE ABOVE DESCRIPTIONS ARE BASED ON: TITLE REPORT NUMBER 24219435 PREPARED BY CAPE GIRARDEAU COUNTY ABSTRACT & TITLE CO. INC., REVIEWED THROUGH NOVEMBER 6, 2024. THE TITLE REPORT AS THAT DESCRIBED IN FIRST AMERICAN TITLE INSURANCE COMPANY COMMITMENT NUMBER PNT45011MO WITH AN EFFECTIVE DATE OF AUGUST 1, 2023. Exhibit B Boundary Map of the Proposed Districtl �. t,.. _-_ 1' 1 - tr i t - - '1" c _- __.T ��...i4...1.:�11V�.•..�...�.w...`....A...�xriil.Si...R�... :..w......... ... i \.' ♦ ` t ) € Redevelopment Area Boundary 1, ^.� f 242 Siemers Dr. i 262 Siemers Dr. 330 Siemers Dr. Other Parcels toA. r 1 • `} ILlife Jit 4 to o a � C.S ♦; it 1 •. � ! d 1 The boundaries of the proposed District are comprised of two legal parcels located at 242 and 330 Siemers Drive in the City. Pursuant to a triple net ground lease, a portion of 242 Siemers Drive is leased to D&B Properties, Inc. and occupied by a standalone Sonic restaurant. The Sonic restaurant has a street address of 262 Siemers Drive. Because D&B Properties, Inc. is required to pay all taxes and assessments with respect to the property at 262 Siemers Drive, the Cape Girardeau County Assessor has assigned the 262 Siemers Drive property its own tax parcel identification number, even though no separate legal parcel exists. The map above shows the boundaries of the two legal parcels located at 242 and 330 Siemers Drive as well as the boundaries of the portion of 242 Siemers Drive that's occupied by Sonic. Exhibit C Petition for Special Assessments PETITION OF THE OWNERS OF RECORD OF ALL REAL PROPERTY LOCATED WITHIN THE CAPE WEST PLAZA COMMUNITY IMPROVEMENT DISTRICT TO AUTHORIZE A SPECIAL ASSESSMENT AGAINST EACH TRACT, LOT OR PARCEL OF REAL PROPERTY WITHIN THE DISTRICT FOR A PERIOD OF UP TO 25 YEARS The undersigned, as owners of record of all real property within the Cape West Plaza Community Improvement District, hereby indicate their approval of the following measure by signing this special assessment petition: The Cape West Plaza Community Improvement District (the "District's shall be authorized to levy special assessments (the "SpecialAssessments'� for a period of up to 25 years against each Assessed Lot (as defined below) benefitted within the District for the purpose of providing revenue for the development of the CID Project (as defined below), said Special Assessments to be levied pursuant to the Assessment Procedure (as defined below) in an annual amount not to exceed the greater of (a) the difference between (1) the property taxes that would have otherwise been payable on such Assessed Lot but for the real property exemption granted by the City of Cape Girardeau, Missouri, pursuant to Section 3 53.110 of the Revised Statutes of Missouri, as amended, and (2) the sum of any taxes and payments in lieu of taxes paid with respect thereto (the difference between (1) and (2) being the "Actual AbatementAmount"), or (b) the Annual Special Assessment Schedule (as defined below). "CID Project" shall have the meaning set forth in the five-year plan set forth as Exhibit D to the Amended and Restated Petition for the Creation of a Community Improvement District dated February 25, 2026. "Lot" means each tract, lot or parcel of real property wholly within the District, as identified by a parcel identification number assigned by the Cape Girardeau County Assessor's Office. Currently, there are three Lots having parcel identification numbers 20-309-00-02-005.00-0000 ("Lot I "), 20-309-00-02- 004.00-2000 ("Lot 2") and 20-309-00-02-004.00-2001 ("Lot3"). "Assessed Lot" means each Lot that (a) has been developed in accordance with that certain Redevelopment Agreement (the "Re(levelopnwntAgreement") by and among the City of Cape Girardeau, Missouri, Drury AT 2024, LLC, Drury Land Development, Inc., Drury Development Corporation and the Cape West Plaza Redevelopment Corporation (the "Redevelopment Corporation', and (b) is subject to tax abatement as permitted by the Redevelopment Agreement pursuant to Section 353.110 of the Revised Statutes of Missouri, as amended. "Levy Year" means, with respect to each Assessed Lot, each calendaryear in which the Assessed Lot is subject to tax abatement and an annual installment of the Special Assessment is levied against such Assessed Lot. "Annual SpecialAssessrraentSchednle" means, with respect to each Assessed Lot, the basis for determining the maximum annual installments of the Special Assessments to be levied against such Assessed Lot, as setforthon Schedule 1, attachedhereto and incorporated herein by reference, to the extent that such annual installment set forth on Schedule 1 exceeds the Actual Abatement Amount in any given Levy Year. "AssessnientProcedure"means, with respect to each Assessed Lot, the following procedure for levying and collecting each annual installment of the Special Assessments: 1. The first Levy Year shall be the Abatement Initiation Year (as defined in the Redevelopment Agreement). 2. Subject to the limitation set forth in paragraph 5 below, the Special Assessments on any individual Assessed Lot shall be payable in annual installments, without pre -payment, fora period of up to 25 years, so long as any notes, bonds or other obligations issued by or on behalf of the District to finance the CID Project (the "CID Obligations") are outstanding. as follows: Each annual installment of the Special Assessments shall be levied against each Assessed Lot (a) If the Actual Abatement Amount exceeds the Annual Special Assessment Schedule for the Assessed Lot for the corresponding Levy Year, then the annual installment shall not exceed the Actual Abatement Amount. (b) If the Actual Abatement Amount is less than the Annual Special Assessment Schedule for the Assessed Lot for the corresponding Levy Year, then the annual installment may be any amount equal to or greater than the Actual Abatement Amount up to the maximum of the Annual Special Assessment Schedule for the Assessed Lot forthe corresponding Levy Year. 4. On or before November 15 of each year (or on or before December I in an Abatement Initiation Year for the Assessed Lot if such Abatement Initiation Year is the calendar year in which the Redevelopment Corporation obtains fee title to such Assessed Lot), the District shall send or cause to be sent the Special Assessment bills to the owners of record of the Assessed Lots, which tax bills shall be determined as provided in paragraph 3 above. The Special Assessment bills are due and payable on or before December 31 of each year. 5. The authorization to levy the Special Assessments shall terminate upon the earlier of (a) 27 years from the date of adoption of the ordinance establishing the District, unless the term of flee proposed District is otherwise extended pursuant to Section 67.1481.6 of the CID Act, or (b) payment in full of CID Obligations in the principal amount of $11,500,000 plus all City application fees, permit fees and other fees incurred in connection with the CID Project (which, in the aggregate, shall not exceed $200,000) plus Issuance Costs (as defined in the Redevelopment Agreement). C-2 C-3 Schedule 1 Annual Special Assessment Schedule for Lot 1 Levy Year (Annual Special Annual Special Assessment Assessment Due by December 31) 1 $ 111,642 2 $ 117,752 3 $ 117,752 4 $ 124,046 5 $ 124,046 6 $ 130,528 7 $ 130,528 8 $ 137,205 9 $ 137,205 10 $ 144,082 11 $ 118,059 12 $ 121,601 13 $ 121,601 14 $ 125,249 15 $ 125,249 16 $ 129,007 17 $ 129,007 18 $ 132,877 19 $ 132,877 20 $ 136,863 21 $ 136,863 22 $ 140,969 23 $ 140,969 24 $ 145,198 25 $ 145,198 C-3 Annual Special Assessment Schedule for Lot 2 Levy Year (Annual Special Annual Special Assessment Assessment Due by December 31) 1 $ 15,799 2 $ 19,097 3 $ 19,097 4 $ 22,495 5 $ 22,495 6 $ 25,994 7 $ 25,994 8 $ 29,599 9 $ 29,599 10 $ 33,311 11 $ 63,731 12 $ 65,643 13 $ 65,643 14 $ 67,612 15 $ 67,612 16 $ 69,640 17 $ 69,640 18 $ 71,730 19 $ 71,730 20 $ 73,882 21 $ 73,882 22 $ 76,098 23 $ 76,098 24 $ 78,381 25 $ 78,381 C-4 Annual Special Assessment Schedule for Lot 3 Levy Year (Annual Special Annual Special Assessment Assessment Due by December 31) 1 $ 2,271 2 $ 2,612 3 $ 2,612 4 $ 2,963 5 $ 2,963 6 $ 3,324 7 $ 3,324 8 $ 3,696 9 $ 3,696 10 $ 4,080 11 $ 6,582 12 $ 6,779 13 $ 6,779 14 $ 6,983 15 $ 6,983 16 $ 7,192 17 $ 7,192 18 $ 7,408 19 $ 7,408 20 $ 7,630 21 $ 7,630 22 $ 7,859 23 $ 7,859 24 $ 8,095 25 $ 8,095 C-5 Name: Drury AT 2024, LLC Address: 330 Siemers Drive Cape Girardeau, MO 63701 I hereby declare under penalties of perjury that I am qualified to affix my authorized signature in the name of an entity that is entitled to sign this petition. I hereby certify that Drury AT 2024, LLC is the owner of record of certain acreage within the District as referenced below. The undersigned hereby approves of the levy of the Special Assessments as provided herein. DRURY AT 2024, LLC, a Missouri limited liability company By: Drury Development Corporation, Member/Manager By: r('k' c4A Anthony . Right, nior Vice President and Chief Financial Officer STATE OF MISSOURI ) ) SS COUNTY OF ST. LOUIS ) 10.85 Acres On this 25th day of February in the year 2026 before me, OhPC4 I &d Q a Notary Public in and for said state, personally appeared Anthony C. 114,ht, Senior Vice President and Chief Financial Officer of Drury Development Corporation, Member/Manager of Drury AT 2024, LLC, known to me to be the person who executed the within petition in behalf of said limited liability company and acknowledged to me he executed the same for the purposes therein stated. WITNESS my hand and official seal this 25th day of February, 2026. &'11� &.- h,"— Notary Public CHERYL ANN KERN Notary Public -Notary Seal STATE OF MISSOURI Printed Name: ke-rAJ St. Louis Cit 4 My Commission Expires: Apr. 28. X29 My Commission Expires: 0 o ��/ :Commission # 13504650 C-6 Name: Drury Land Development, Inc. Address: 242 Siemers Drive and 262 Siemers Drive Cape Girardeau, MO 63703 I hereby declare under penalties of perjury that I am qualified to affix my authorized signature in the name of an entity that is entitled to sign this petition. I hereby certify that Drury Land Development, Inc. is the owner of record of certain acreage within the District as referenced below. The undersigned hereby approves of the levy of the Special Assessments as provided herein. DRURY LAND DEVELOPMENT, INC., a Missouri corporation 9.40 Acres By: Drury Development Corporation, Sole Shareholder By: ( / W- k Anthonj C. Righ , Senior Vice President and Chief Financial Officer STATE OF MISSOURI ) SS COUNTY OF ST. LOUIS ) On this 25th day of February in the year 2026 before me,eherztI Atir,ke-,-Al a Notary Public in and for said state, personally appeared Anthony C. ht, Senior Vice President and Chief Financial Officer ofDrury Development Corporation, Sole Shareholder ofDrury Land Development, Inc., known to me to be the person who executed the within petition in behalf of said corporation and acknowledged to me he executed the same for the purposes therein stated. WITNESS my hand and official seal this 25th day of February, 2026. &(Z�IQ4L& Nota Public �1✓ CHERYL ANN KERN ' Notary Public - Notary Seal / I STATE OF MISSOURI Printed Name: 1 %liIV MSt. Louis City MY Commission Expires: Apr. 28, 2029 _ Co_nrnission # 13504650 My Commission Expires: 0� C-7 Exhibit D Five -Year Plan Cape West Plaza Community Improvement District Dated: February 25, 2026 Introduction Drury AT 2024, LLC and Drury Land Development, Inc. (together, the "Petitioners' propose to create the Cape West Plaza Community Improvement District (the "District") pursuant to the Community Improvement District Act, Sections 67.1401 to 67.1571 of the Revised Statutes of Missouri, as amended (the "CID Act"). Section 67.1421 of the CID Act requires that the petition for the creation of the proposed District be accompanied by a five-year plan stating a description of the purposes of the proposed District, the services it will provide, the improvements it will make, an estimate of the costs of these services and improvements to be incurred, the anticipated sources of funds to pay such costs and the anticipated term of such sources of funds. This Five -Year Plan (this "Plan") is presented to comply with the statutory requirement referenced above. Generally, a community improvement district is a statutory tool a municipality may implement to allow a specific area or section of the municipality to fund (either in part or in whole) certain improvements and services within certain defined boundaries by securing a portion of the area's own economic activity. This Plan contains the following: (A) a description of the location and formation of the proposed District; (B) a description of the purposes of the proposed District and the services to be provided and the improvements to be made by the proposed District; (C) an estimate of the costs of the services and improvements to be incurred; (D) the anticipated sources of funds to pay the costs of such services and improvements; (E) the anticipated term of the sources of funds to pay the costs of such services and improvements; and (F) an anticipated schedule for the proposed District's services and improvements and other activities over a five-year period. This Plan is an integral and composite part of the Amended and Restated Petition for the Creation of a Community Improvement District (the "Petition") to which it is attached and incorporated therein by reference. A. District Location and Formation The proposed Districttotals approximately 20.25 acres and is generally located at242,262 and 330 Siemers Drive within the City of Cape Girardeau, Missouri (the "City"). The proposed District is contiguous. The District is proposed to be a political subdivision of the State of Missouri. The proposed District, pursuant to the CID Act, is empowered to provide a variety of public services and to finance a number of different public improvements within its boundaries, which services and improvements will be paid for from revenues from taxes and special assessments imposed within its boundaries. B. Purposes of the Proposed District and the Improvements to be Made and Services to be Provided The purpose of the proposed District is to provide assistance to or to construct, reconstruct, install, repair, maintain, and equip certain public improvements within its boundaries, and to support business activity and economic development in the proposed District and to provideservices and activities as allowed hal under Section 67.1461 ofthe CID Act. The proposed District will impose the CID Sales Tax and Special Assessments (both as defined herein) to finance and administer these improvements and services as provided under the CID Act. In general, the proposed District may undertake any of the public improvements or provide for any of the activities or services set forth in the CID Act. Pursuant to Section 67.1461 of the CID Act, the proposed Districtmay acquireby purchase, lease, gift, grant, bequest, devise orotherwise, any real property within its boundaries, personal property, or any interest in such property. The proposed District may also sell, lease, exchange, transfer, assign, mortgage, pledge, hypothecate, or otherwise encumber or dispose of any real or personal property or any interest in such property. The proposed District may dedicate to the City, with the City's consent, streets, sidewalks, parks, and other real property and improvements located within its boundaries for public use. In addition, pursuant to Section 67.1461.2 ofthe CID Act, the proposed District shall have the powers related to a district located in a blighted area. Thus, the proposed District may enter into one or more agreements with the City or any private property owner within the District to demolish and remove, renovate, reconstruct or rehabilitate any building or structure owned by such private property owner, and the District may expend its revenues or loan its revenues pursuant to such agreement, provided that the City Council has determined that the action to be taken pursuant to such agreement is reasonably anticipated to remediate the blighting conditions and will serve a public purpose. The proposed District is being formed to raise revenues by imposing a community improvement district sales and use tax (the "CID Sales Tax") at the rate of up to one percent (1 %) on all taxable retail sales within its boundaries which are subject to taxation pursuant to Sections 144.010 to 144.525 of the Revised Statutes of Missouri, as amended, except sales ofmotorvehicles, trailers, boats or outboard motors and sales to or by public utilities and providers of communications, cable or video services. The imposition of the CID Sales Tax is subject to approval by the qualified voters within the proposed District. To the extent that there are no registered voters within the proposed District, the CID Act provides that the qualified voters are the owners of one or more parcels of real property located within the proposed District per the tax records of Cape Girardeau County, Missouri, as of the thirtieth day before the date of the applicable election. Once the proposed District is established by ordinance of the City, the proposed District's Board of Directors will submit the question of whether it shall be authorized to impose the Cl D Sales Tax to the qualified voters for approval in accordance with this Plan. The proposed District is also being formed to raise revenues by levying special assessments (the "SpecialAssessments") against real property benefitted within the District. The proposed District may levy the Special Assessments upon receipt of a petition (the "SpecialAssessinentPetition") signed by the requisite percentage of owners of real property located within the District in accordance with Section 67.1521 ofthe CID Act. The Special Assessments will be levied against the lots within the District that are benefitted by the CID Project (as defined herein) pursuant to a procedure set forth in the Special Assessment Petition. The Special Assessments will be levied in an annual amount not to exceed the greater of (a) the difference between (1) the property taxes that would have otherwise been payable on such real property and the improvements thereon but for the real property exemption granted by the City pursuant to Section 353.110 ofthe Revised Statutes of Missouri, as amended, and (2)the sum of any taxes and payments in lieu of taxes paid with respect thereto, or (b) the Annual Special Assessment Schedule set forth in the Special Assessment Petition. Notwithstanding anything in the CID Act or the Petition to the contrary, the proposed District shall have no power to levy real property taxes or business license taxes. The District is proposed to provide funding for those powers of a district provided under Sections 67.146 1.1 and 67.1461.2 of the CID Act and various public improvements (as further described below) within the proposed District's boundaries, a portion of which improvements are anticipated to be D-2 made to remove any blighted condition and in connection with the redevelopment, operation and maintenance of multi -tenant retail and other commercial spaces within the proposed District. Specifically, the District will provide funding for the following: (a) the demolition and removal, renovation, reconstruction or rehabilitation of the site infrastructure and improvements located at 330 Siemers Drive to convert the property from a single commercial use to a multi -tenant commercial use, including without limitation sitework/demolition, concrete work, thermal and moisture protection, finishes and mechanical and electrical work, (b) the demolition and removal, renovation, reconstruction or rehabilitation of the site infrastructure and improvements located at 242 Siemers Drive to enhance the existing multi -tenant commercial shopping center, including without limitation demolition, removal and replacement of sidewalks and asphalt overlay, re -striping of parking lots, repairing and painting the building fagade, installing brick fagade to existing columns of the building, demolishing and replacing the roof of the building, retrofitting existing parking lot lights to LED and painting light poles, reimaging existing exterior signage and enhancing landscaping and (c) all City application fees, permit fees and other fees incurred in connectionwith any of theforegoing, which such fees, in the aggregate, shall not exceed $200,000 (together with any public improvements, activities or services outlined in this Section B. and as allowed by the CID Act, the "CID Project"). In conjunction with fundingthe CID Project, the Districtmay also fund costs related to undertaking and completingthe CID Project, including without limitation: (a) costs of all estimates, studies, surveys, plans, drawings, reports, tests, specifications and other preliminary investigations of architects, appraisers, surveyors and engineers; (b) all professional service costs, including without limitation architectural, engineering, legal, financial, planning, design, development, projector construction management or special services incurred; (c) costs of acquisition, settlement and transfer of rights-of-way, easements, leases and other interests in real property; (d) costs of demolition of buildings and improvements; the clearing excavation, earthwork, backfill and grading of land; site preparation; utility relocation; erosion, drainage and storm water control; storm sewers; and waterproofing; (e) costs of relocation necessitated by the City's relocation plan; (f) costs of insurance, performance bonds and guarantees; (g) costs of pavement, curbs, gutters, sidewalks, pavers, landscaping, planters, tree grates, irrigation and water features, bicycle racks, pedestrian benches, canopies, street lighting, retaining walls, shoring and piers, handrails, guardrails and other railing, including without limitation any architectural or decorative treatments related to such items; and (h) costs of construction of any bridge, street, road, alley, traffic sign or signal, parking lot, bus stop, station, garage, shelter, rest area, lake, dam, waterway or any similar or related improvement or infrastructure. The CID Act mandates that existing City services continue to be provided within the proposed District atthe same level as beforethe proposed District is created (unless services are decreased throughout the City) and that any proposed District services shall be in addition to existing City services. Petitioners anticipate that City services will continue to be provided within the proposed District at the same level as before the proposed District is created, and the proposed District will not cause the level of City services within the proposed District to diminish. C. Estimate of Costs of Services and Improvements to be Incurred The estimated cost of the CID Project is $22,950,915, as further described in the table and the accompanying notes set forth on Schedule 1, attached hereto and incorporated herein by reference. D. Anticipated Sources of Funds to Pay the Costs of Services and Improvements The proposed District may fund any portion of the costs of acquisition, design, construction, operation and maintenance of the CID Project. Revenues from the CID Sales Tax and, subject to the terms of the Special Assessment Petition, revenues from the Special Assessments may be used to fund in part D-3 either direct costs of the CID Project or financing costs of the CID Project, or both. Under Section 67.1461 of the CID Act, the proposed District may borrow money from any public or private source and issue obligations or cause obligations to be issued on its behalf, in one or more phases, and provide security for repayment of the same as provided in the CID Act. Without the additional funding provided by the proposed District, Petitioners would not be able to adequately develop, operate and maintain the CID Project. It is anticipated that Petitioners will advance the costs of the CID Project and that, upon substantial completion of the CID Project, the proposed District will issue obligations to reimburse for the costs of the CID Project and to pay any costs of issuance of such obligations. Such obligations will bear interest at an annual rate not to exceed 10.00%. On an annual basis, the revenues from the CID Sales Tax and, subject to the terms of the Special Assessment Petition, revenues from the Special Assessments will be applied as follows: (a) first, to fund the ongoing administrative costs of the proposed District, the amount of which will be determined by the proposed District's Board of Directors in connectionwith the adoption of the annual budgetof the proposed District, and (b) second, to fund the costs of the CID Project or any obligations issued by or o n behalf of the proposed District to finance the costs of the CID Project. This formula will be applied throughout the term of the proposed District. E. Anticipated Term of the Sources of Funds to Pay the Costs of Services and Improvements The proposed District is anticipated to collect the CID Sales Tax for a period of up to 27 years from the effective date of the City's ordinance creating the proposed District and to levy and collect the Special Assessments for a period of up to 25 years against each tract, lot or parcel of real property wholly within and benefitted by the proposed District. However, if the costs of the CID Projector the principal of and interest on any obligations issued by the proposed District to finance the costs of the CID Project are paid prior to the end of such periods, the proposed District shall take steps to repeal the CID Sales Tax and the Special Assessments and the Petitioners (or their successors in interest to the real property located within the proposed District) shall seek to terminate the proposed District in accordance with Section 67.1481 of the CID Act. F. Anticipated Schedule Below is a summary of the activities, improvements and services anticipated to be performed by the proposed District over the initial five-year period. D-4 Year Activities, Improvements and Services 2026 • Establish District • Special Assessment Petition received by District • District's Board of Directors authorizes imposition of CID Sales Tax and Special Assessments • District holds mail -in election to impose CID Sales Tax • CID Project commences with demolition and removal, renovation, reconstruction or rehabilitation of existing site infrastructure and improvements • Issuance of District obligations, if any, related to the CID Project • Provide financing for a portion of the costs of the CID Project • Provide for collection of CID Sales Tax and Special Assessments, if applicable • District provides for its ongoing administration 2027 • CID Project is substantially completed • Issuance of District obligations, if any, related to the CID Project • Provide financing for a portion of the costs of the CID Project • Provide for collection of CID Sales Tax and Special Assessments, if applicable • District provides for its ongoing administration 2028 • Issuance of District obligations, if any, related to the CID Project • Provide financing for a portion of the costs of the CID Project • Provide for collection of CID Sales Tax and Special Assessments • District provides for its ongoing administration 2029 • Provide financing for a portion of the costs of the CID Project • Provide for collection of CID Sales Tax and Special Assessments • District provides for its ongoing administration D-5 Year Activities, Improvements and Services 2030 • Provide financing for a portion of the costs of the CID Project O Provide for collection of CID Sales Tax and Special Assessments • District provides for its ongoing administration Schedule 1 CID Project Costs 242 Sietners Drive 330 Siemers Drive Description Budgeted Costs* Reimbursable Costs** Columbia Construction Reimbursable Costs** Acquisition Costs $ - Demolition of existing storefront sidewalk $ - Columbia Construction - White Shell - Installation of new storefront sidewalk 6,761,975 $ 6,761,975 A-1 Signage - Demolition and repair of failed asphalt $ 100,000 $ 100,000 - Installation of asphalt over existing parking lot $ 972,000 $ 972,000 - Restriping of parking lot Site Work for Pad $ 135,000 - Installation of brick fagade to existing columns 135,000 Repair Storm Inlet at SEC $ - Demolition of existing mansard roof metal $ 50,000 Architecture and Engineering Design - Installation of new roof 1,352,395 $ 1,352,395 Civil Engineering A-1 Signs - Reimage Existing Freestanding Signage $ 75,000 $ 75,000 Landscaping $ 50,000 $ 50,000 Architecture and Desi $ 97,200 $ 97,200 Civil Engineering $ 97,200 $ 97,200 Sot Cost Contingency $ 129,140 $ 129,140 Subtotal $ 1,420,540 $ 1,420,540 $ 22,950,915 $ 11,458,665 * The amount in each budget category is an estimate. Savings in one budget category may be applied to additional costs incurred in other budget categories. ** Although it is estimated that there are eligible CID Project costs of $22,950,915, the maximum amount of CID Project costs that the proposed District will find is $11,500,000. The maximum amount excludes the District's payment of the folloNving, which amounts may be funded above and beyond the maximum amount: all City application fees, permit fees and other fees incurred in connection with the CID Project (which, in the aggregate, shall not exceed $200,000), Costs of Issuance (as defined in the Petition), if any, the proposed District's administrative fees and expenses including, but not limited to, fees and costs related to the proposed District's formation, planning consultants, advisors, auditors and legal counsel, and reimbursement to the City for the City's third -party professional costs directly related to the City's consideration of the proposed District including, without limitation, legal and planning expenses incurred in relation to the City's establishment of the proposed District, and the City's participation and responsibilities with regard to the ongoing operation, functions and administration of the proposed District. D-7 330 Siemers Drive Description Budgeted Costs* Reimbursable Costs** Acquisition Costs $ 6,000,000 $ - Columbia Construction - White Shell $ 6,761,975 $ 6,761,975 A-1 Signage $ 100,000 $ 100,000 Landscaping $ 50,000 $ 50,000 Site Work for Pad $ 135,000 $ 135,000 Repair Storm Inlet at SEC $ 50,000 $ 50,000 Architecture and Engineering Design $ 1,352,395 $ 1,352,395 Civil Engineering $ 676,198 $ 676,198 Soft Cost Contingency $ 912,557 $ 912,557 Tenant Allowance + Landlord Work $ 5,492,250 $ - Subtotal $ 21,530,375 $ 10,038,125 Total CID Project Costs $ 22,950,915 $ 11,458,665 * The amount in each budget category is an estimate. Savings in one budget category may be applied to additional costs incurred in other budget categories. ** Although it is estimated that there are eligible CID Project costs of $22,950,915, the maximum amount of CID Project costs that the proposed District will find is $11,500,000. The maximum amount excludes the District's payment of the folloNving, which amounts may be funded above and beyond the maximum amount: all City application fees, permit fees and other fees incurred in connection with the CID Project (which, in the aggregate, shall not exceed $200,000), Costs of Issuance (as defined in the Petition), if any, the proposed District's administrative fees and expenses including, but not limited to, fees and costs related to the proposed District's formation, planning consultants, advisors, auditors and legal counsel, and reimbursement to the City for the City's third -party professional costs directly related to the City's consideration of the proposed District including, without limitation, legal and planning expenses incurred in relation to the City's establishment of the proposed District, and the City's participation and responsibilities with regard to the ongoing operation, functions and administration of the proposed District. D-7 ----------------------------------------------------------------------- (The above space is reserved for Recorder's Certification.) TITLE OF DOCUMENT: DATE OF DOCUMENT: GRANTOR: GRANTOR'S MAILING ADDRESS GRANTEES: GRANTEES' MAILING ADDRESS RETURN DOCUMENTS TO REDEVELOPMENT AGREEMENT [*Document Date*] CITY OF CAPE GIRARDEAU, MISSOURI 44 North Lorimier Cape Girardeau, Missouri 63701 DRURY AT 2024, LLC DRURY LAND DEVELOPMENT, INC. 13075 Manchester Road, Suite 200 St. Louis, Missouri 63131 Gilmore & Bell, P.C. 211 North Broadway, Suite 2000 St. Louis, Missouri 63102 Attention: Mark D. Grimm, Esq. LEGAL DESCRIPTION: See Exhibit A REDEVELOPMENT AGREEMENT among the CITY OF CAPE GIRARDEAU, MISSOURI, DRURY AT 2024, LLC, DRURY LAND DEVELOPMENT, INC., DRURY DEVELOPMENT CORPORATION and CAPE WEST PLAZA REDEVELOPMENT CORPORATION dated as of [*Document Date*] TABLE OF CONTENTS Page Recitals............................................................................................................................... 1 ARTICLE I DEFINITIONS 1.1. Definitions....................................................................................................................................... 2 ARTICLE II DEVELOPER DESIGNATION; DEVELOPER TO ADVANCE COSTS 2.1. Developer Designation..................................................................................................................... 6 2.2. Developer to Advance Costs............................................................................................................ 6 ARTICLE III MANNER OF REDEVELOPMENT 3.1. Project Development........................................................................................................................ 6 3.2. Project Construction......................................................................................................................... 7 3.3. Construction Contracts..................................................................................................................... 7 3.4. Competitive Bids; Prevailing Wage; Federal Work Authorization................................................. 8 3.5. Governmental Approvals................................................................................................................. 8 3.6. Excusable Delay.............................................................................................................................. 8 3.7. Completion Certificates................................................................................................................... 9 3.8. Property Maintenance; Compliance with Applicable Laws............................................................. 9 ARTICLE IV REIMBURSEMENT OF REIMBURSABLE DISTRICT PROJECT COSTS; PROJECT OBLIGATIONS 4.1. Reimbursement of Reimbursable District Project Costs.................................................................. 9 4.2. Project Notes..................................................................................................................................10 4.3. Project Bonds................................................................................................................................. 11 4.4. Cooperation in the Issuance of Project Obligations....................................................................... 11 4.5. City to Select Bond Counsel, Underwriter and Consultants; Term and Interest Rate ...................11 4.6. Project Bonds, CID Special Assessment and Chapter 353 Abatement .......................................... l l ARTICLE V DEVELOPMENT INCENTIVES 5.1. Real Property Tax Abatement; Taxes and Payments in Lieu of Taxes .......................................... 12 5.2. Sales Tax Exemption on Construction Materials...........................................................................14 5.3. Community Improvement District.................................................................................................14 -i- 5.4. Public Participation........................................................................................................................ 15 ARTICLE VI GENERAL PROVISIONS 6.1. Developer's Right of Termination................................................................................................. 16 6.2. City's Right of Termination........................................................................................................... 16 6.3. Results of Termination...................................................................................................................16 22 6.4. Successors and Assigns; Transfers of Property .............................................................................16 23 6.5. Remedies........................................................................................................................................17 6.6. Notices...........................................................................................................................................17 6.7. Insurance Requirements.................................................................................................................18 6.8. Release and Indemnification..........................................................................................................19 6.9. Choice of Law; Conflicts............................................................................................................... 20 6.10. Counterparts...................................................................................................................................20 6.11. Severability.................................................................................................................................... 20 6.12. No Waiver of Sovereign Immunity................................................................................................20 6.13. No Third -Party Beneficiaries.........................................................................................................20 6.14. Conflict of Interest......................................................................................................................... 20 6.15. Further Authority........................................................................................................................... 21 6.16. Project Data....................................................................................................................................21 6.17. Term of Agreement........................................................................................................................ 21 ARTICLE VII REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE PARTIES 7.1. Representations by the City........................................................................................................... 21 7.2. Representations by Drury AT........................................................................................................ 22 7.3. Representations by Drury Land..................................................................................................... 22 7.4. Representations by the Developer................................................................................................. 23 7.5. Representations by the Redevelopment Corporation.....................................................................24 Signatures........................................................................................................................ S-1 EXHIBIT A — Legal Description of Redevelopment Area EXHIBIT B — Depiction of Redevelopment Project/Concept Site Plan EXHIBIT C — Form of Federal Work Authorization Program Affidavit EXHIBIT D — Form of Certificate of Reimbursable District Project Costs EXHIBIT E — Form of Completion Certificate EXHIBIT F — Form of Cooperation Agreement EXHIBIT G — Estimated Project Budget and Reimbursable District Project Costs REDEVELOPMENT AGREEMENT THIS REDEVELOPMENT AGREEMENT (as from time to time modified, amended or supplemented, this Agreement") is made and entered into as of [*Document Date*], by and among the CITY OF CAPE GIRARDEAU, MISSOURI, a home rule city and political subdivision organized and existing under the laws of the State of Missouri (the "City "), DRURY AT 2024, LLC, a Missouri limited liability company (together with its successors and assigns, Drury AT"), DRURY LAND DEVELOPMENT, INC., a Missouri corporation (together with its successors and assigns, "Drury Land" and, collectively with Drury AT, the "Fee Owners"), DRURY DEVELOPMENT CORPORATION, a Missouri corporation (the "Developer"), and CAPE WEST PLAZA REDEVELOPMENT CORPORATION, a Missouri redevelopment corporation (together with its successors and assigns, the "Redevelopment Corporation " and, collectively with the City, the Fee Owners and the Developer, the "Parties "). RECITALS A. The Corporation has submitted the "Cape West Plaza Development Plan" (as from time to time modified, amended or supplemented, the "Development Plan ") concerning an approximately 20.25 - acre area located at 242 and 330 Siemers Drive (as more particularly described on Exhibit A attached hereto and incorporated herein by reference, the "Redevelopment Area"). The Development Plan was prepared in accordance with (1) Chapter 353 of the Revised Statutes of Missouri ( "Chapter 353 ") and (2) Chapter 28 of the City Code of Ordinances ( "Chapter 28 "). B. The Redevelopment Corporation has proposed, and the Development Plan contemplates, that the Redevelopment Area will be redeveloped by the Developer for retail and other commercial uses (collectively and as further described herein and in the Development Plan, the "Redevelopment Project"). C. On February 13, 2026, the Fee Owners filed a petition with the City to establish the Cape West Plaza Community Improvement District (the "CID ") encompassing the Redevelopment Area to assist in financing and implementing the Redevelopment Project. On February 25, 2026, the Fee Owners filed an Amended and Restated Petition to establish the Cape West Plaza CID. D. On March 2, 2026, the City Council held duly -noticed public hearings concerning (1) the establishment of the CID in accordance with the requirements of the CID Act (as hereafter defined) and (2) the approval of the Development Plan in accordance with the requirements of Chapter 353 and Chapter 28. E. On March 16, 2026, the City Council adopted (1) Ordinance No. approving the Development Plan and authorizing the execution of this Agreement and (2) Ordinance No. establishing the CID. F. The Parties desire to enter into this Agreement to set forth the terms upon which the Redevelopment Project will be completed, including the provision of certain economic development incentives in connection therewith. AGREEMENT NOW, THEREFORE, in consideration of the premises and mutual promises contained herein and other good and valuable consideration, the adequacy and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows: ARTICLE I DEFINITIONS 1.1. Definitions. In addition to any words and terms defined elsewhere in this Agreement, the following words and terms as used in this Agreement shall have the following meanings, unless some other meaning is plainly intended: "Abatement Initiation Year" means the calendar year in which the Redevelopment Corporation obtains fee title to a Lot, unless the Developer sends a written request to the City and the Assessor stating the Developer's desire for the Abatement Initiation Year to begin in the year following the calendar year in which the Redevelopment Corporation obtains fee title to such Lot and the City and the Assessor agree to such request. "Actual Abatement Amount" means, with respect to any Lot in any calendar year, the difference between (a) the ad valorem real property taxes that would have otherwise been due and payable on such Lot during such year, but for the limited tax abatement provided by Section 5.1, and (b) the sum of all Unabated Taxes and/or PILOTs paid during such year pursuant to Section 5.1. "Annual Special Assessment Schedule" means, with respect to any Lot in any calendar year, the basis for determining the maximum annual installment of the CID Special Assessment to be levied against such Lot for such year, as set forth on Schedule I to Exhibit C to the petition to establish the CID, as such petition may be amended from time to time if such annual installment set forth on Schedule I exceeds the Actual Abatement Amount. "Approved Site Plan " means the site development plan or plans reflecting one or more portions of the Redevelopment Project approved by all entities required to approve a site plan pursuant to the City Code, as such site plan or site plans may be submitted, approved and amended from time to time in accordance with the City Code. "Assessor" means the Assessor of Cape Girardeau County. "Base Taxes" means (1) with respect to Parcel Number 20-309-00-02-004.00-0000 (330 Siemers Drive), $92,036.31, (2) with respect to Parcel Number 20-309-00-02-004.00-2000 (242 Siemers Drive), $94,151.05 and (3) with respect to Parcel Number 20-309-00-02-004.00-2001 (262 Siemers Drive), $9,084.02. "Bond Counsel" means Gilmore & Bell, P.C., St. Louis, Missouri, or another attorney at law or a firm of attorneys selected by the City of nationally recognized standing in matters pertaining to the tax- exempt nature of interest on obligations issued by states and their political subdivisions, duly admitted to the practice of law in the State of Missouri. "Bond Proceeds " means the net cash proceeds from the sale of Project Bonds available for deposit in the Project Fund (after deposit of funds for Issuance Costs, capitalized interest and any debt service reserve), together with any interest earned thereon. "Certificate of Reimbursable District Project Costs " means a document, substantially in the form of Exhibit D, attached hereto and incorporated herein by reference, delivered by the Developer to the City and the CID, which, upon the written acceptance by the CID and the written acceptance by the City pursuant to Section 3.1(d), will evidence the Reimbursable District Project Costs incurred by and payable to the Developer. -2- "CID Act" means the Community Improvement District Act, Sections 67.1401 to 67.1571 of the Revised Statutes of Missouri. "CID Sales Tax " means the community improvement district sales and use tax to be levied by the CID at a rate of not more than 1% in accordance with the CID Act. "CID Sales Tax Revenues " means the revenues generated by the CID Sales Tax, excluding (a) any amount paid under protest until the protest is withdrawn or resolved against the taxpayer and (b) any sum received by the CID that is the subject of a suit or other claim communicated to the CID, which suit or claim challenges the collection of such sum, until such suit or other claim is withdrawn or resolved against the claimant. "CID Special Assessment" means, with respect to any Lot in any calendar year, the special assessment to be levied by the CID (or imposed by contract) for such year at a rate not to exceed the greater of (a) the Actual Abatement Amount or (b) the amount shown on the Annual Special Assessment Schedule. "CID Special Assessment Revenues" means the revenues generated by the CID Special Assessment, excluding (a) any amount paid under protest until the protest is withdrawn or resolved against the taxpayer and (b) any sum received by the CID that is the subject of a suit or other claim communicated to the CID, which suit or claim challenges the collection of such sum, until such suit or other claim is withdrawn or resolved against the claimant. "City Attorney" means the person duly appointed as the City Attorney pursuant to the City Code. "City Code" means the Code of Ordinances of the City, as may be amended from time to time. "City Manager" means the person duly appointed as City Manager pursuant to the City Code. "Collector" means the Collector of Revenue of Cape Girardeau County. "Completion Certificate" means a document, substantially in the form of Exhibit E, attached hereto and incorporated herein by reference, delivered by the Developer to the City, which, upon the City's written acceptance thereof pursuant to Section 3.7, will evidence the Developer's satisfaction of all obligations and covenants to complete the In -Line Project or the Sears Project, as applicable, pursuant to this Agreement. No Completion Certificate will constitute a final inspection certificate, final occupancy certificate, or other documentation required by the City or any other governmental entity to occupy the Redevelopment Project or any portion thereof. "Concept Site Plan " means the site concept plan set forth as Exhibit B, attached hereto and incorporated herein by reference, depicting the conceptual program for construction of the Redevelopment Project. "Cooperation Agreement" means an agreement, substantially in the form of Exhibit F, attached hereto and incorporated herein by reference, to be entered into among the City, the CID, the Fee Owners and the Developer, as may be amended from time to time. "Fee Owners " means, collectively, Drury AT and Drury Land, and "applicable Fee Owner" means Drury AT or Drury Land, as appropriate. "Governmental Approvals" means all plat approvals, re -zoning or other zoning changes, planned unit development approvals, site plan approvals, conditional use permits, variances, building permits, -3- architectural review or other subdivision, zoning or similar approvals, or approvals required by the City Code or this Agreement for the implementation of the Redevelopment Project. "In -Line Project" means the portion of the Redevelopment Project to be carried out within Parel Number 20-309-00-02-004.00-2000. "Incentives" means the incentives to be received by the Fee Owners and the Developer pursuant to this Agreement, consisting of CID reimbursements and a Chapter 100 sales and use tax exemption on the construction materials necessary to complete the Redevelopment Project. "Issuance Costs " means all costs reasonably incurred by the City in connection with the issuance of the Project Obligations, including, but not limited to, the fees and expenses of financial advisors and consultants, the City's attorneys (including the City Attorney, Bond Counsel and disclosure counsel), the Issuer's attorneys, the CID's attorneys (not to exceed $25,000), the underwriter and its counsel, the City's administrative fees and expenses, the underwriter's discount and fees and the costs of printing any Project Obligations and any official statements relating thereto. "Issuer" means the issuer of any Project Obligations as mutually agreed by the City and the Developer, which may be but is not limited to the CID, the Missouri Development Finance Board, or The Industrial Development Authority of the County of Cape Girardeau, Missouri. "Lender" means any entity (a) not affiliated with the Developer or a Related Party that has made a loan to the Developer or a Related Party that is secured by all or a portion of the reimbursement to be received by the Developer under this Agreement, and (b) for which the Developer has provided notice to the City, including notice of the fact that such entity has provided such loan and the name, address and contact person for such entity. "Lot" means each parcel as to which a CID Special Assessment is imposed, as contemplated by the Development Plan, which the Developer expects to be Parel Number 20-309-00-02-004.00-0000, Parcel Number 20-309-00-02-004.00-2000 and Parcel Number 20-309-00-02-004.00-2001. "Maximum Reimbursement Amount" means $11,500,000l�us (a) Issuance Costs and (b) amounts paid by the Developer pursuant to Section 2.2(a) -(d). The Maximum Reimbursement Amount represents the maximum reimbursement to the Developer under this Agreement. "Parcel " means either of the separate parcels within the Redevelopment Area, being Parcel Number 20-309-00-02-004.00-0000 and Parcel Number 20-309-00-02-004.00-2000, and all of the Property associated therewith. "PILOTS " means the payments in lieu of taxes to be made by the Fee Owners pursuant to Section 5.1. "Prime Rate " means the prime rate reported in the "Money Rates" column or any successor column of The Wall Street Journal, currently defined therein as the base rate on corporate loans posted by at least 70% of the nation's 10 largest banks. If The Wall Street Journal ceases publication of the Prime Rate, then "Prime Rate" shall mean the "prime rate" or "base rate" announced by Bank of America, N.A., or any successor thereto. "Project Bonds" means any bonds authorized and issued by the Issuer for the purposes described in this Agreement and subject to the terms hereof. In "Project Fund" means the project fund established in connection with the issuance of any Project Obligations. "Project Notes " means any notes authorized and issued by the Issuer to the Developer or a Related Party for the purposes described in this Agreement and subject to the terms hereof. "Project Obligations " means, collectively, the Project Notes and the Project Bonds. "Property " means the real property (including without limitation all options held by third parties, fee interests, leasehold interests, tenant-in-common interests and such other like or similar interests) necessary to complete the Redevelopment Project, together with all improvements now existing or hereafter located thereon. "Redevelopment Project" means, collectively, (a) the Sears Project, including demolishing and removing, renovating, reconstructing or rehabilitating all or a portion of the site infrastructure and improvements located at 330 Siemers Drive to convert the property from a single commercial use to a multi - tenant commercial use, including without limitation sitework/demolition, concrete work, thermal and moisture protection, finishes, mechanical and electrical work, such that the building is retail -ready and suitable for occupancy (e.g., water tight and "white box" for future tenant occupancy); and (b) the In -Line Project, including demolishing and removing, renovating, reconstructing or rehabilitating all or a portion of the site infrastructure and improvements located at 242-308 Siemers Drive to enhance the existing multi - tenant commercial shopping center, including without limitation demolition, removal and replacement of sidewalks, asphalt overlay and re -striping of parking lot, repair and paint building fagade, install brick fagade to existing columns of the building, demolition and replacement of the roof of the building, retrofit existing parking lot lights to LED and paint light poles, reimage existing exterior signage and enhance landscaping. "Reimbursable District Project Costs " means those costs of the Redevelopment Project listed in Exhibit G (which shall not include costs of acquiring the Property or any interest therein). "Related Party" means any party related to the Developer by one of the relationships described in Section 267(b) of the United States Internal Revenue Code of 1986, as amended, or any party controlled by or under common control with the Developer. "Sears Project" means the portion of the Redevelopment Project to be carried out within Parel Number 20-309-00-02-004.00-0000. "Trustee" means the trustee for any Project Obligations. "Unabated Taxes " means, with respect to the first 10 years of any Lot's tax abatement period, as described in Section 5.1, the ad valorem real property taxes imposed on such Lot, as measured in accordance with Section 353.110 of Chapter 353 by the amount of the assessed valuation of such Lot's land, exclusive of improvements, as was determined by the Assessor in the calendar year preceding the calendar year in which the Redevelopment Corporation acquired such Lot. -5- ARTICLE II DEVELOPER DESIGNATION; DEVELOPER TO ADVANCE COSTS 2.1. Developer Designation. The Developer represents that Related Parties own all of the Property within the Redevelopment Area. The City hereby selects the Developer to implement the Redevelopment Project in accordance with the Development Plan, this Agreement and all Governmental Approvals. 2.2. Developer to Advance Costs. (a) Advances Under Fee Agreement. Pursuant to a fee agreement with Gilmore & Bell, P.C., the Developer has agreed to pay the fees and expenses of Gilmore & Bell, P.C. associated with the consideration of the Redevelopment Plan, the creation of the CID and the negotiation of this Agreement. (b) Advances Upon Execution of Agreement. The Developer agrees to pay the City's third - party legal and other consultants' fees incurred in connection with the approval of the Redevelopment Plan, the negotiation and administration of this Agreement (including, without limitation, the review of Certificates of Reimbursable District Project Costs and the Completion Certificates), the defense of any challenges to the validity of the ordinances relating to the Redevelopment Plan and this Agreement and the creation of the CID. The City shall consult with the Developer before entering into any new engagements with any third party and shall provide the Developer with a monthly statement showing each agreement executed and amounts paid pursuant to each such agreement. The Developer shall pay each monthly statement within 30 days of receipt. The Developer's obligation under this paragraph will terminate upon the City's acceptance of Completion Certificates for the entirety of the Redevelopment Project. (c) Advances Upon Issuance of Project Notes. Upon the initial issuance of the Project Notes, the Developer agrees to pay to the City an amount not to exceed $50,000 for the payment or reimbursement of reasonable Issuance Costs of the City (including the fees and expenses of the City Attorney and Bond Counsel) relating to the Project Notes. (d) No Waivers. Payment of any advance under this Section will not waive any application fee or other cost to the Developer associated with any Governmental Approvals required by the City Code, including but not limited to application fees for zoning changes and costs of traffic studies and landscape review. (e) Advances to be Reimbursable. To the extent permitted by law, all sums advanced or deemed advanced by the Developer under this Section shall constitute Reimbursable District Project Costs to be reimbursed to the Developer from the proceeds of Project Notes issued as provided herein. ARTICLE III MANNER OF REDEVELOPMENT 3.1. Project Development. (a) The Developer shall proceed with construction of the Redevelopment Project within six months after the effective date of this Agreement. The Developer shall submit to the City a Certificate of Completion for (1) the In -Line Project within 24 months after the effective date of this Agreement and (2) the Sears Project within 42 months after the effective date of this Agreement. 0 (b) The Developer and its project teams shall (1) submit quarterly written reports to the City regarding the status of the Redevelopment Project and leasing of the commercial space within the Redevelopment Area (provided, the Developer does not have to disclose any tenants or prospective tenants that the Developer, in its sole discretion, determines the disclosure of which will harm lease negotiations or other business relationships) and (2) upon reasonable notice, meet with the City Manager and such other City staff and consultants as designated by the City Manager to review and discuss the construction of the Redevelopment Project to enable the City to monitor the status of construction and to determine that the Redevelopment Project is being performed and completed in accordance with this Agreement and the City Code. (c) Upon the substantial completion of the Redevelopment Project on either Parcel, the Developer may furnish to the City a Certificate of Reimbursable District Project Costs, which shall be reviewed by the City and approved or disapproved in accordance with Section 3.1(d). (d) Within 30 days following submission of the Certificate of Reimbursable District Project Costs signed by the Developer and approved by the CID, the City shall notify the Developer in writing of its approval or disapproval of such certificate. The certificate may be approved in part and disapproved in part. If the City determines that any cost identified in such certificate does not qualify as a Reimbursable District Project Cost pursuant to this Agreement, the City shall so notify the Developer in writing within such 30 -day period, identifying the ineligible cost and the basis for determining the cost to be ineligible. If the City fails to approve or disapprove the Certificate of Reimbursable District Project Costs in writing within such 30 -day period, the Certificate of Reimbursable District Project Costs shall be deemed disapproved by the City. Nothing herein shall prevent the Developer from resubmitting all or any portion of the costs identified in a Certificate of Reimbursable District Project Costs that has been deemed disapproved by virtue of the City's inaction. (e) Following the substantial completion of the In -Line Project or the Sears Project, as applicable, the applicable Fee Owner may transfer fee title to the applicable Parcel to the Redevelopment Corporation for the purpose of initiating real property tax abatement as provided in Chapter 353 and Section 5.1. Immediately after acquiring fee title to a Parcel, the Redevelopment Corporation shall transfer fee title to such Parcel back to the applicable Fee Owner. The Developer or the applicable Fee Owner shall provide a copy of the recorded deed transferring fee title to such Parcel to the Redevelopment Corporation to the City and the Assessor. The Developer or the applicable Fee Owner shall also provide the Assessor and/or the Collector with any information relating to the Redevelopment Project that is necessary for the Assessor and/or the Collector to effect the real property tax abatement contemplated by this Agreement and to properly calculate the Unabated Taxes and PILOTS due hereunder. 3.2. Project Construction. (a) Construction of the Redevelopment Project shall be pursued in a good and workmanlike manner in accordance with the terms of this Agreement. (b) The City and its duly authorized agents may, at reasonable times during normal business hours and, except in the event of emergencies, upon not less than one business day's prior written notice, subject to the Developer's usual business, proprietary, safety and security requirements, inspect any work being performed in connection with the construction of the Redevelopment Project or any portion thereof. Police work by the City's Police Department is not limited by this Agreement. 3.3. Construction Contracts. All construction contracts for the Redevelopment Project entered into by or on behalf of the Developer shall state that the contractor has no recourse against the City -7- in connection with the contractor's construction of the applicable portion of the Redevelopment Project (but the absence of such a provision shall not result in any such recourse being available). 3.4. Competitive Bids; Prevailing Wage; Federal Work Authorization. (a) The Developer shall comply with all federal, state and local laws relating to the construction of the Redevelopment Project, including, but not limited to, Section 107.170 of the Revised Statutes of Missouri and laws relating to the payment of prevailing wages and competitive bidding, to the extent such laws are applicable to the Redevelopment Project. (b) The Developer acknowledges that it must comply with Section 285.530 of the Revised Statutes of Missouri regarding enrollment and participation in a federal work authorization program with respect to its employees working in connection with the Redevelopment Project. The Developer represents and warrants that it is in compliance with Section 285.530 of the Revised Statutes of Missouri at the time of execution of this Agreement and has provided a sworn affidavit and supporting documentation affirming participation by or on behalf of itself in a qualified work authorization program as evidence thereof. On or before December 31 of each year during the term of this Agreement, beginning December 31, 2026, the Developer shall provide an affidavit in substantially the form of Exhibit C, attached hereto and incorporated herein by reference, and documentation to evidence the Developer's continued compliance with Section 285.530 of the Revised Statutes of Missouri. (c) It shall be a material breach of this Agreement if the Developer knowingly permits a contractor to employ persons not authorized to work in the United States. If the Developer reasonably believes a contractor working on the Redevelopment Project is employing persons not authorized to work in the United States, the Developer shall promptly report the basis for that belief to the City. 3.5. Governmental Approvals. The Developer shall obtain or cause to be obtained all necessary Governmental Approvals and shall be subject to all lawful inspections and perform such necessary acts as are required under the ordinances of the City. The City agrees to cooperate with the Developer to request that the City process and timely consider all complete applications for the Governmental Approvals within the jurisdiction of the City as received, all in accordance with the City Code and other applicable laws and regulations. 3.6. Excusable Delay. Notwithstanding anything to the contrary contained herein, the times for performance under Section 3.1(a) shall be automatically extended by the number of days of delay caused by actions or events beyond the control of the Developer, including acts of God, labor disputes, strikes, lockouts, civil disorder or unrest, war, lack of issuance of any permits and/or legal authorizations by a governmental entity necessary for the Developer to proceed with the construction or to cause the construction of the applicable portion of the Redevelopment Project (provided that reasonable efforts have been made to obtain said permits and/or authorizations and all conditions precedent to the issuance of said permits and/or authorizations have been met), shortage or delay in the shipment of material or fuel, the occurrence of an epidemic or pandemic that materially impacts the availability of labor, fire, unavoidable casualties, unusually adverse weather conditions, unusually wet soil conditions, materially adverse litigation relating to the Redevelopment Project, including, but not limited to, any litigation, court order or judgment resulting from any litigation affecting the validity of the Development Plan, the Redevelopment Project or this Agreement, or any other causes beyond the Developer's reasonable control (an "Excusable Delay "). No Excusable Delay will be deemed to exist unless the Developer notifies the City in writing of such Excusable Delay within 30 days after the commencement of the event causing such Excusable Delay (or within 30 days after the date that the Developer should reasonably have determined that such event would cause such Excusable Delay). An Excusable Delay shall not include any condition or circumstance caused or extended by the Developer or a Related Party or attributable to actions or inaction by the In Developer or a Related Party. The Parties agree that lender restrictions, financial conditions, economic conditions, market conditions, lack of tenant interest and similar conditions or events do not constitute Excusable Delays. 3.7. Completion Certificates. (a) The Developer shall furnish a Completion Certificate to the City upon substantial completion of the In -Line Project and the Sears Project. (b) The City shall diligently process each Completion Certificate, including making such inspections as it deems necessary to verify to its reasonable satisfaction the accuracy of the certifications contained therein. The City shall accept or reject each Completion Certificate in writing within 30 days following delivery to the City. If the City fails to accept or reject a Completion Certificate in writing within such 30 -day period, then the Developer shall notify the City in writing of its failure to take action on the Completion Certificate, and the City shall have 15 days from receipt of such notice to accept or reject the Completion Certificate in writing. If the City has not accepted or rejected a Completion Certificate within such 15 -day period, the Completion Certificate shall be deemed rejected by the City. If the City rejects the Completion Certificate and/or the accompanying certifications, such rejection shall specify in reasonable detail in what respects the Developer has failed to complete the In -Line Project or the Sears Project, as applicable, in accordance with the provisions of this Agreement, or in what respects the Developer is otherwise in default, and what specific measures or acts the Developer must take or perform, in the reasonable opinion of the City, to obtain such acceptance. The Developer shall have such amount of time as is reasonably necessary to address the failures. When addressed (or if deemed rejected), the Developer shall re -submit the Completion Certificate to the City in accordance with this subsection and the 30 -day period for the City's approval or rejection of the Completion Certificate shall begin again subject to the foregoing provisions. (c) Upon the City's acceptance of both Completion Certificates, the Developer may record the Completion Certificates with the Cape Girardeau County Recorder of Deeds, and the same shall constitute evidence of the satisfaction of the Developer's agreements and covenants to perform its obligations hereunder with respect to the entirety of the Redevelopment Project. (d) Notwithstanding subsection (c) above, if the City has accepted a Completion Certificate with respect to the In -Line Project and Project Notes have been issued for the In -Line Project, then the CID's obligation to repay such Project Notes shall survive subsequent termination of this Agreement by the City, except that repayment of such Project Notes shall be limited to 40% of the original principal amount thereof and shall be made solely from CID Sales Tax Revenues. 3.8. Property Maintenance; Compliance with Applicable Laws. Each Fee Owner shall maintain or cause to be maintained all portions of the Redevelopment Project owned, leased or operated by such Fee Owner or a Related Party in good repair and condition and in compliance with the Approved Site Plan and all property maintenance provisions included in the City Code. ARTICLE IV REIMBURSEMENT OF REIMBURSABLE DISTRICT PROJECT COSTS; PROJECT OBLIGATIONS 4.1. Reimbursement of Reimbursable District Project Costs. Subject to the restrictions contained herein, the Developer may be reimbursed for verified Reimbursable District Project Costs, as In evidenced by Certificates of Reimbursable District Project Costs submitted pursuant to Sections 3.1(c) and approved in accordance with Section 3.1(d), in an amount not to exceed the Maximum Reimbursement Amount. Reimbursements to the Developer are limited to proceeds of the Project Obligations authorized hereunder. 4.2. Project Notes. (a) Subject to the limitations contained herein and so long as no default by the Developer has occurred and is continuing hereunder, Project Notes may be issued to the Developer in an aggregate principal amount not to exceed the Maximum Reimbursement Amount. Project Notes may be issued in one or more taxable and/or tax-exempt series. (b) Upon the initial issuance of Project Notes as provided herein, the Trustee shall endorse the Project Notes in an amount equal to the Reimbursable District Project Costs set forth in the first Certificate of Reimbursable District Project Costs submitted pursuant to Section 3.1(c) and approved in accordance with Section 3.1(d). Within 15 business days after the City's acceptance of the second and final Certificate of Reimbursable District Project Costs submitted pursuant to Section 3.1(c) and approved in accordance with Section 3.1(d), the City and the Developer may request the Trustee to issue an endorsement to the Project Notes in an amount equal to the Reimbursable District Project Costs set forth in such certificate. Upon each endorsement to the Project Notes, the Developer shall be deemed to have advanced funds necessary to purchase such Project Notes and the Issuer shall be deemed to have deposited such funds in the Project Fund and shall be deemed to have reimbursed the Developer on behalf of the City in full from the amounts deemed to be on deposit in the Project Fund from time to time. (c) All Project Notes shall have the following terms: (1) The Project Notes shall bear interest at a variable rate equal to (A) the Prime Rate plus 2.50% (but not less than 8.00%), if the interest on the Project Notes (in the opinion of Bond Counsel) is not excluded from gross income for federal income tax purposes, or (B) the Prime Rate plus 1.00% (but not less than 6.50%) if the interest on the Project Notes (in the opinion of Bond Counsel) is excluded from gross income for federal income tax purposes. Notwithstanding the foregoing, in no event shall the interest rate on the Project Notes exceed 10.00%. (2) Interest on the Project Notes shall accrue only on the amounts deemed advanced under Section 4.2(b). (3) Interest on the Project Notes shall be compounded semi-annually. (d) Except as otherwise provided in Section 4.3(a), the Developer or a Related Party must hold all Project Notes until substantial completion of the Redevelopment Project, as evidenced by the City's acceptance of Completion Certificates for the entirety of the Redevelopment Project pursuant to Section 3.7. (e) Notwithstanding any other term or provision of this Agreement, Project Notes shall be payable only from CID Special Assessment Revenues, CID Sales Tax Revenues and Bond Proceeds, and not from any other source. -10- 4.3. Project Bonds. (a) Project Bonds may be issued following the City's acceptance of Completion Certificates for the entirety of the Redevelopment Project pursuant to Section 3.7. Proceeds of the Project Bonds may be used to refund all or a portion of any outstanding Project Notes. (b) Any Project Notes not refunded by Project Bonds shall be fully subordinated as to both principal and interest to the Project Bonds. (c) Notwithstanding any other term or provision of this Agreement, Project Bonds shall be payable only from CID Special Assessment Revenues and CID Sales Tax Revenues, and not from any other source. 4.4. Cooperation in the Issuance of Project Obligations. If Project Obligations are issued, the Developer and the City covenant to cooperate, and to cause the CID to cooperate, and take all reasonable actions necessary to assist the Issuer, Bond Counsel, underwriters and financial advisors in the preparation of offering statements, private placement memorandums or other disclosure documents and all other documents necessary to market and sell the Project Obligations, including (1) disclosing tenants of the Redevelopment Project and the non-financial terms of the leases between the applicable Fee Owner and such tenants, and (2) providing sufficiently detailed estimates of the Reimbursable District Project Costs to be reimbursed so as to enable Bond Counsel to render its opinion as to the tax exemption of the Project Obligations. The Developer shall, if requested by the City or the Issuer, execute a continuing disclosure agreement or undertaking, whereby the Developer will be required to provide annual updates to certain operating information, including the information regarding tenant leases described above. The Developer will not be required to disclose to the general public or any investor the rent payable under any such lease or any proprietary or confidential financial information pertaining to the Developer or the Fee Owners, their respective tenants or the leases with their respective tenants, but upon the execution of a confidentiality agreement acceptable to the Developer and the Fee Owners, the Developer and the Fee Owners will provide such information to the City's and the Issuer's financial advisors, underwriters and their counsel to enable such parties to satisfy their due diligence obligations. Such compliance obligation shall be a covenant running with the Property, enforceable as if any subsequent transferee thereof were originally a party to and bound by this Agreement. 4.5. City to Select Bond Counsel, Underwriter and Consultants; Term and Interest Rate. Following consultation with the Developer and the Issuer, the City may select the Bond Counsel, disclosure counsel, underwriters, financial advisors and consultants as the City deems necessary for the issuance of the Project Obligations. The final maturity of the Project Obligations shall not exceed the maximum term permissible under Missouri law. The Project Obligations shall bear interest at such rates, shall be subject to redemption and shall have such terms as the City and the Issuer, following consultation with the Developer, underwriters, financial advisors and consultants, shall reasonably determine in conformance with the terms of this Agreement. 4.6. Project Bonds, CID Special Assessment and Chapter 353 Abatement. The Parties expect that the CID Special Assessment will be imposed with respect to each Lot in an amount roughly equal to the value of the real property tax abatement provided by Section 5.1. Notwithstanding the foregoing, the Parties agree that it is desirable to reduce the term of the real property tax abatement and/or the amount of the real property tax abatement, if doing so does not adversely affect the issuance of Project Bonds to refund those Project Notes secured by the CID Special Assessment Revenues. Accordingly, if (a) the underwriters, financial advisors and other consultants selected by the City for the issuance of the Project Bonds determine that only a portion of the CID Special Assessment Revenues is needed to produce sufficient revenues with which to repay the Project Bonds and (b) all of the then -outstanding Project Notes -11- secured by the CID Special Assessment Revenues will be refunded with the Project Bonds, the Parties will, subject to approval by the City Council, amend this Agreement to reduce the value of the real property tax abatement to the amount recommended by the underwriters, financial advisors and other consultants. The reduction may be effected (1) by increasing the PILOTS to be made on any Lot (provided, there may only be an increase in the PILOTs to be made on any Lot to the extent that there is a corresponding reduction in the CID Special Assessments to be levied on such Lot), (2) by reducing the term of the abatement on any Lot, or (3) any combination of (1) and (2). Nothing in this Section shall require the Developer to seek an amendment to the petition for the creation of the CID or an amendment to the petition of the owners of real property authorizing the CID Special Assessment if, at the time of any recommendation by the underwriters, financial advisors or other consultants pursuant to this Section, the Developer or a Related Party does not own the requisite percentage of real property within the CID as set forth in Section 67.1421.2(1)-(2) of the CID Act or Section 67.1521.1(1)-(2) of the CID Act, as applicable. ARTICLE V DEVELOPMENT INCENTIVES 5.1. Real Property Tax Abatement; Taxes and Payments in Lieu of Taxes. (a) Subject to the continuing compliance with this Agreement, upon the acquisition of a Parcel by the Redevelopment Corporation pursuant to Section 3.1(d), such Parcel shall be subject to the limited tax abatement permitted by Section 353.110 of Chapter 353 for 25 years, beginning with the Abatement Initiation Year. (b) Each Fee Owner covenants and agrees that in each year during the term of this Agreement, unless this Agreement is amended pursuant to the provisions of Section 4.6, it will make or cause to be made the following payments with respect to each Lot: (1) In each year before the Abatement Initiation Year, the greater o£ (A) 100% of the real estate taxes actually due and payable on such Lot; or (B) 100% of the Base Taxes with respect to such Lot. (2) In the Abatement Initiation Year and in each of the nine years thereafter, the sum of the following: (A) the Unabated Taxes; plus (B) if the Unabated Taxes are less than the Base Taxes, a PILOT equal to 100% of the difference. (3) In each of the 15 years thereafter, a PILOT equal to 50% of the real estate taxes otherwise due and payable upon such Lot, as measured by the assessed valuation thereof as determined by the County Assessor. (c) All PILOTS shall be paid to the Collector annually by December 31. The Parties expect that the real property tax bills provided by the Collector will reflect the appropriate amount of the taxes and PILOTS to be paid pursuant to this Agreement. However, the failure of the Collector to provide tax bills reflectingthe he appropriate amount of the taxes and PILOTS to be paid with respect to anipursuant to -12- this Agreement will not excuse the Fee Owners or any subsequent owner of such Lot from paving the taxes and PILOTS set forth above by December 31 of the applicable. (d) Each payment received by the Collector shall be distributed among the taxing districts that levy a real property tax on the Lots in proportion to their respective, then -current real property tax levies. (e) In consideration of the limited tax abatement provided by this Section, each Fee Owner agrees that neither it nor any successor in title or interest to any Lot will formally challenge or appeal the assessed valuation of such Lot at any time while such Lot is receiving limited tax abatement under this Agreement; provided, the foregoing shall not bind the Fee Owners or any successor if the assessed valuation is greater than the projected assessed valuation of such Lot, as shown in the tax impact statement prepared in connection with the Development Plan (the "Tax Impact Statement"). For purposes of this Section, if any Lot shown in the Tax Impact Statement is subdivided into two or more lots, the projected assessed valuation of such Lot, as shown in the Tax Impact Statement, shall be allocated among the subdivided lots on a pro rata basis (by square footage). (f) The Parties agree that the property tax abatement described in this Agreement will not apply to special assessments (including the CID Special Assessments) or ad valorem personal property taxes and will not reduce or eliminate any licenses or fees owing to the City or any other taxing jurisdiction with respect to the Redevelopment Project. (g) All deeds of trust and other security agreements secured by the Redevelopment Project or any portion thereof shall recognize that the PILOTS due and owing hereunder are to be given the same priority as real property taxes in the event of a foreclosure. To evidence such preference, all such deeds of trust or other security agreements must contain the following language (or similar language approved by the City Attorney or Bond Counsel): Recognition of Lender to terms of Redevelopment Agreement. Lender agrees that for so long as [the applicable portion of] the Property is subject to and receiving abatement of ad valorem real property taxes pursuant to the Redevelopment Agreement dated as of [*Document Date*] among Drury AT 2024, LLC, Drury Land Development, Inc., the City of Cape Girardeau, Missouri (the "City"), Drury Development Corporation and Cape West Plaza Redevelopment Corporation, the lien of the [Mortgage] shall be subject and inferior to the lien of the City thereto to the extent of any unpaid PILOTS (as defined in the aforementioned Redevelopment Agreement). Lender agrees that any proceeds received by Lender as a result of a foreclosure or deed in lieu of foreclosure related to [the applicable portion of] the Property shall be applied to pay any due and owing PILOTS before being applied to satisfy any or all amounts due and owing to the Lender. Before executing any deed of trust or other security agreement secured by the Redevelopment Project or any portion thereof, the applicable Fee Owner or a Related Party shall provide the City with a draft of such deed of trust or other security agreement for the sole purpose of ensuring that the language required by this Section 5.1(g) is included therein. Any deed of trust or other security agreement secured by the Redevelopment Project or any portion thereof that does not contain the required language shall be deemed to include such language, and the party whose obligations are secured by the deed of trust or other security agreement shall be bound by such language as if it were fully set forth therein. To the extent that the applicable Fee Owner or a Related Party has provided the City with a draft of any such deed of trust or other security agreement as required by this paragraph, such Fee Owner or the Related Party, as applicable, shall have complied with its obligations under this Agreement, and the City shall have no right to terminate this Agreement with respect to such Parcel because the final deed of trust or other security agreement does not contain the language required by this Section 5.1(g). -13- (h) The Parties agree that the limited tax abatement provided by this Section will be offset by the imposition of the CID Special Assessment. Therefore, if the CID Special Assessment is not imposed on any Lot within six months of the Redevelopment Corporation's acquisition of such Lot pursuant to Section 3.1(d), then the limited tax abatement provided by this Section shall immediately cease and shall not be reinstated until the CID Special Assessment is imposed on such Lot. In each calendar year in which the limited tax abatement has ceased, if even for a part of such year, the Developer shall make or cause to be made a PILOT in an amount which, when added to the Unabated Taxes, equals the amount of ad valorem real property taxes that would have been imposed on such Lot if the Lot were not subject to abatement. Any PILOT made under this subsection shall be in lieu of the PILOTS set forth in Sections 5.1(b)(2)(B) and (C). (i) Notwithstanding any provision to the contrary contained herein, the limited tax abatement provided by this Section shall expire upon the earlier of (1) the end of the 25 -year tax abatement period on each Parcel or (2) the payment in full of all Project Obligations secured by the CID Special Assessment Revenues. Upon the expiration of the limited tax abatement provided by this Section, (A) the Developer shall promptly send written notice to the Assessor (with a copy to the City) that the limited tax abatement on all Lots provided by this Section shall immediately cease and (B) from and after such date, the Developer or its successor in interest shall pay or cause to be paid 100% of the real estate taxes that are due on each individual Lot. 5.2. Sales Tax Exemption on Construction Materials. At the Developer's request, the City will issue industrial revenue bonds pursuant to Chapter 100 to facilitate a sales and use tax exemption on the construction materials necessary to complete the Redevelopment Project. The costs of the City in connection with issuing any such industrial revenue bonds, including, without limitation, City Attorney fees, Bond Counsel fees and trustee fees, shall be paid by the Developer upon delivery of the City's project exemption certificate. Upon the substantial completion of the entirety of the Redevelopment Project (as evidenced by the City's acceptance of Completion Certificates pursuant to Section 3.7), the Developer and its contractors and subcontractors shall cease use of the project exemption certificate. 5.3. Community Improvement District. (a) The CID shall be governed by a board of directors made up of five individuals appointed by the Mayor with the consent of the City Council, three of whom shall be representatives of the owners of real property or businesses operating within the CID and two of whom shall be residents of the City who are qualified and registered to vote and who have no financial interest in any real property or business operating within the CID. Successor directors of the CID shall be appointed as set forth in the petition for the creation of the CID. The Parties, acting through their representatives on the board of directors, shall cause the CID to (1) engage a qualified administrator and/or legal counsel to assist in managing the CID and ensuring compliance with applicable laws, (2) authorize and enter into the Cooperation Agreement and (3) take such steps as are necessary (including casting votes as qualified voters under the CID Act) to impose the CID Sales Tax and the CID Special Assessments. (b) The CID shall not impose any tax or assessment (other than the CID Sales Tax and the CID Special Assessments) or issue any Project Obligations without the prior approval of the City in its sole and absolute discretion. (c) If any Project Obligations are issued by or on behalf of the CID, the CID is authorized to apply the CID Sales Tax Revenues and the CID Special Assessment Revenues to the repayment of such Project Obligations, as further described in Section 11(c) of the Cooperation Agreement. -14- (d) Notwithstanding any provision hereof to the contrary, the authorization to levy the CID Special Assessments shall terminate upon the earlier of (1) the expiration of the term of the CID or (2) the payment in full of all Project Obligations secured by the CID Special Assessment Revenues. 5.4. Public Participation. (a) Reasonable Rate of Return. The purpose of affording public assistance to the Redevelopment Project is to accomplish the stated public purposes and not to subsidize an otherwise economically -viable development project. While the City Council has determined that the Redevelopment Project would not be undertaken but for the public assistance being provided, the parties recognize that the ongoing profitability of the Redevelopment Project to the Developer or a Related Party is based upon projections that may or may not be fulfilled. To ensure that the public assistance being provided does not subsidize an unreasonable level of earnings for the Developer or a Related Party with respect to the Redevelopment Project, the parties agree that a reasonable level of return for the Redevelopment Project is a leveraged rate of return of 19.00% (the "Maximum Rate of Return"). (b) Rate of Return Calculation. Upon the sale of the Property, before December 31, 2036, on which the In -Line Project or the Sears Project is located, the Developer shall provide a leveraged rate of return calculation (prepared in accordance with industry standards as reasonably determined by the City's Finance Director) (the "Leveraged Rate ofReturn") with respect to the In -Line Project or the Sears Project, as applicable. If the Leveraged Rate of Return exceeds the Maximum Rate of Return, then the City and the Developer (including any applicable Related Party) will equally divide the portion of sale proceeds that cause the Leveraged Rate of Return to exceed the Maximum Rate of Return. Subject to appropriation by the City Council, the City will divide its share of any revenues received pursuant to this paragraph among the taxing districts whose boundaries encompass the Redevelopment Area in proportion to their then - current real property tax levies. If the sale of the Property occurs on or after December 31, 2036, no public participation shall be due and no payments from the sale shall be owed by the Developer to the City. The Developer's calculation of the Leveraged Rate of Return shall include the Developer's signed certification regarding the accuracy of the calculation. If the City elects, pursuant to subparagraph (c) of this Section, to audit the Developer's submission, the Developer will provide, in a timely manner, detailed financial and other information required for the selected firm or consultant to complete the audit. (c) Audits. The City may, within 30 days after the Developer's submission of the Leveraged Rate of Return calculation, request an audit of the calculation by an independent firm or consultant selected by the City in its sole discretion. The Developer shall pay one-half of the costs of such firm or consultant. The firm or consultant shall inform the City and the Developer of any discrepancy identified by the audit in writing and provide a detailed explanation of the discrepancy. If the Developer does not provide a written objection to the audit findings within 30 days, then the audit findings shall be deemed final and the results of the audit shall be used in calculating or correcting the Leveraged Rate of Return and any payments owed to the City. If the Developer provides a written objection to the audit findings within 30 days, the Developer may request a new audit by a mutually -agreeable independent firm or consultant, the costs of which shall be paid by the Developer. Absent manifest error, the findings of the additional audit shall be deemed final and shall be relied upon in calculating or correcting the Leveraged Rate of Return and any payments owed to the City. -15- ARTICLE VI GENERAL PROVISIONS 6.1. Developer's Right of Termination. At any time before the Sears Project is substantially completed (as evidenced by the City's acceptance of a Completion Certificate for the Sears Project pursuant to Section 3.7), the Developer may abandon the Redevelopment Project in its entirety and terminate this Agreement in whole by giving written notice to the City. 6.2. City's Right of Termination. The City may terminate this Agreement in whole if. (a) the Developer or either Fee Owner defaults in or breaches any material provision of this Agreement and fails to cure such default or breach pursuant to Section 6.5; or (b) the Developer or either Fee Owner materially breaches any representation or warranty contained in Section 7.2, 7.3 or 7.4. 6.3. Results of Termination. (a) If this Agreement is terminated pursuant to Section 6.1 or Section 6.2: (1) no additional Certificates of Reimbursable District Project Costs will be approved by the City; and (2) except as may expressly survive the termination of this Agreement, including, without limitation, the CID's obligation to repay any Project Notes as described in Section 3.7(d), all other rights and obligations hereunder shall be deemed cancelled. (b) If this Agreement is terminated, the Property shall not be eligible for limited tax abatement, and the Fee Owners shall pay 100% of the real estate taxes actually due and payable on each Parcel from and after the calendar year in which this Agreement terminates. 6.4. Successors and Assigns; Transfers of Property. (a) All or any part of the Property or any interest therein may be sold, transferred, encumbered, leased, or otherwise disposed of at any time, and the rights of the Fee Owners and the Developer named herein or any successors in interest under this Agreement or any part hereof may be assigned at any time before, during or after redevelopment of the Redevelopment Project, whereupon the party disposing of its interest in the Property or assigning its interest under this Agreement shall be thereafter released from further obligation under this Agreement (although any such Property so disposed of or to which such interest pertains shall remain subject to the terms and conditions of this Agreement); provided, except as otherwise set forth herein, prior to substantial completion of the Redevelopment Project, the Developer shall not assign its interest in this Agreement to any person or entity without the City's prior written consent. The City shall not withhold its consent if it is reasonably satisfied that the proposed assignee has significant development experience and the financial ability to complete the Redevelopment Project (or portion thereof to be undertaken by such assignee) in accordance with the terms of this Agreement. The Developer shall be released from liability hereunder with respect to any Parcel upon an approved sale or assignment pursuant to the preceding sentence. (b) The City hereby approves, and no prior consent shall be required in connection with: (1) subject to Section 5.1(g), the right of the Fee Owners and the Developer to encumber or collaterally -16- assign their interest in the Property or any portion thereof or their rights, duties and obligations under this Agreement to obtain the benefits of a tax credit investment or to secure loans, advances or extensions of credit to finance or from time to time refinance all or any part of the Redevelopment Project, or the right of the holder of any such encumbrance or transferee of any such collateral assignment (or trustee or agent on its behalf) to transfer such interest by foreclosure or transfer in lieu of foreclosure under such encumbrance or collateral assignment; and (2) the right of the Fee Owners to sell, lease or transfer a commercial unit in the ordinary course of business; provided that in each such event (A) except as set forth herein, the Developer named herein shall remain liable hereunder for the substantial completion of the Redevelopment Project and shall be released from such liability hereunder only upon substantial completion, subject, however, to the Developer's right of termination pursuant to Section 6.1, and (B) the Developer provides to the City 15 days' advance written notice of the proposed assignment or transfer, other than for the sale or lease of a commercial unit in the ordinary course of business or the transfer of any rights hereunder or in the Property to a Related Parry. (c) The Developer shall, promptly upon the consummation of any assignment of its interests in this Agreement, provide the City with a copy of the assignment and assumption agreement between the Developer and the assignee. 6.5. Remedies. If any party defaults or breaches any material term or condition of this Agreement, the defaulting or breaching party shall, upon written notice from the other party or parties specifying such default or breach, cure or remedy such default or breach within 30 days after receipt of such notice (or such longer period as is reasonably required to cure such default, provided that (a) the breaching party has commenced such cure within said 30 -day period, and (b) the breaching party diligently prosecutes such cure to completion). If such cure or remedy is not taken or not diligently pursued, or the default or breach is not cured or remedied as provided above, the aggrieved party or parties may institute such proceedings as may be necessary or desirable in its opinion to cure and remedy such default or breach, including, but not limited to, proceedings to compel specific performance by the defaulting or breaching party or to terminate this Agreement. 6.6. Notices. Any notice, demand or other communication required by this Agreement to be given by one party hereto to another shall be in writing and shall be sufficiently given or delivered if delivered personally or transmitted electronically (and receipt confirmed by telephone or electronic read receipt): (a) If to the City: City of Cape Girardeau 44 N. Lorimier St. Cape Girardeau, Missouri 63701 Attention: Assistant City Manager tpulley@cityofcapegirardeau.org with copies to: City of Cape Girardeau 44 N. Lorimier St. Cape Girardeau, Missouri 63701 Attention: City Attorney gyoung@cityofcapegirardeau.org and -17- Gilmore & Bell, P.C. One Metropolitan Square 211 N. Broadway, Suite 2000 St. Louis, Missouri 63102 Attention: Mark D. Grimm, Esq. mgrimm@gilmorebell.com (b) If to the Fee Owners, the Developer or the Redevelopment Corporation: c/o Drury Development Corporation 13075 Manchester Road, Suite 200 St. Louis, Missouri 63131 Attention: Timothy M. Drury Email: tim.drury@drurydevelopment.com and: Armstrong Teasdale LLP 7700 Forsyth Boulevard, Suite 1800 St. Louis, Missouri 63105 Attention: Robert Klahr, Esq. Email: rklahr@atllp.com or to such other address with respect to any party as such party may, from time to time, designate in writing and forward to the others as provided in this Section. A duplicate copy of each notice or other communication given hereunder shall be given to each other party. 6.7. Insurance Requirements. (a) The Developer shall obtain, or shall require a Related Party or contractor to obtain, insurance as hereinafter set forth and shall maintain such insurance from the commencement of construction of the Redevelopment Project and continuing through the term of this Agreement. The Developer shall require that any such insurance obtained by a Related Party or contractor be maintained by such Related Party or contractor for the duration of the construction of the applicable portion of the Redevelopment Project. The policies for such insurance shall be placed with financially sound and reputable insurers licensed to transact business in the State of Missouri. The Developer or Related Party shall, from time to time at the request of the City, furnish the City with copies of the following polices and endorsements (or, at the City's option, certificates evidencing such policies and endorsements): (1) property and casualty insurance to keep the applicable portions of the Redevelopment Project constantly insured against loss or damage by fire, lightning and all other risks covered by the extended coverage insurance endorsement then in use in the State of Missouri in an amount equal to the Full Insurable Value thereof (subject to reasonable loss deductible clauses). "Full Insurable Value" means the actual replacement cost of the applicable portion of the Redevelopment Project; (2) commercial general liability insurance with coverages of not less than the current absolute statutory waivers of sovereign immunity in Sections 537.600 and 537.610 of the Revised Statutes of Missouri (which for calendar year 2026 is equal to $3,547,658 for all claims arising out of a single accident or occurrence and $532,148 for any one person in a single accident or occurrence). Further, the policy shall be adjusted upward annually, to remain at all times not less -18- than the inflation adjusted sovereign immunity limits as published in the Missouri Register on an annual basis by the Department of Insurance pursuant to Section 537.610 of the Revised Statutes of Missouri. Each liability policy obtained pursuant to this Section shall name the City as an additional insured and shall contain an agreement by the insurer that, notwithstanding any right of cancellation reserved to such insurer, such policy or contract shall continue in force for at least 10 days after written notice of cancellation is given to the City; and (3) workers' compensation insurance, with statutorily required coverage. (b) The Developer or Related Party shall maintain commercial general liability insurance subject to the terms of the Insurance Services Office ("ISO ") Commercial General Liability Coverage Form CG 0001, or a substitute form providing coverage that is at least as broad as the ISO form specified, including standard contractual liability coverage. Subject to such policy form's terms, conditions, and exclusions, contractual liability coverage shall apply to the Developer's indemnification obligations under Section 6.8. The required commercial general liability insurance shall be placed with such insurance carriers and contain such terms and conditions as shall be reasonably acceptable to the City Attorney. The Developer shall provide the City with a copy of such policy and any endorsements (or, at the City's option, certificates evidencing such policy and endorsements) to evidence the current effectiveness of such insurance coverage upon the execution of this Agreement and from time to time thereafter upon written request of the City. The Developer shall name the City as an additional insured under the commercial general liability insurance coverage required by this Section. 6.8. Release and Indemnification. (a) The indemnification and covenants contained in this Section shall survive expiration or earlier termination of this Agreement. (b) The Developer hereby agrees that, anything to the contrary herein notwithstanding, it will defend, hold harmless and indemnify the City and its governing body members, officials, employees, attorneys and agents against any and all claims, demands, actions, causes of action, losses, damages, injuries, liabilities and/or expenses (including reasonable attorneys' fees and court costs) resulting from, arising out of, or in any way connected with: (1) the Developer's failure to comply with any provision of this Agreement or the activities or transactions contemplated herein; (2) the negligence or intentional misconduct of the Developer or an affiliate thereof, or their respective employees and agents; (3) the presence of hazardous wastes, hazardous materials or other environmental contaminants in the Redevelopment Area; (4) any loss of or damage to property or any injury to or death of any person occurring in or about the Redevelopment Project in connection with any activities, acts or omissions of the Developer, a Related Party, or any of their respective contractors, agents or employees; or (5) otherwise arising out of the adoption or administration of this Agreement or the construction or operation of the portions of the Redevelopment Project. If the validity or construction of any state laws or local ordinances or resolutions in connection with this Agreement or affecting the Redevelopment Project are contested in court, the Developer shall defend, -19- hold harmless and indemnify the City from and against all claims, demands and/or liabilities of any kind whatsoever including, without limitation, any claim for reasonable attorneys' fees and court costs, and the Developer shall pay any monetary judgment and all court costs rendered against the City, if any. (c) Notwithstanding anything herein to the contrary, the City and its governing body members, officials, employees, attorneys and agents shall not be liable to the Developer for damages or otherwise if all or any part of Chapter 353 or any ordinance or resolution of the City adopted in connection with this Agreement or the Redevelopment Project is declared invalid or unconstitutional in whole or in part by the final (as to which all rights of appeal have expired or have been exhausted) judgment of any court of competent jurisdiction. (d) Notwithstanding the foregoing terms of this Section, the Developer shall have no obligation to defend, hold harmless or indemnify the City with respect to any matter or expense resulting from or arising out of the negligence or willful misconduct of the City. (e) All covenants, stipulations, promises, agreements and obligations of the City contained herein shall be deemed to be the covenants, stipulations, promises, agreements and obligations of the City solely, and not of any of its governing body members, officials, employees, attorneys or agents in their individual capacities. 6.9. Choice of Law; Conflicts. This Agreement shall be taken and deemed to have been fully executed, made by the Parties in, and governed by the laws of the State of Missouri for all purposes and intents. Any action arising out of, or concerning, this Agreement shall be brought only in the Cape Girardeau County Circuit Court or the U.S. District Court for the Eastern District of Missouri. 6.10. Counterparts. This Agreement is executed in multiple counterparts, each of which shall constitute one and the same instrument. 6.11. Severability. If any term or provision of this Agreement is held to be unenforceable by a court of competent jurisdiction, the remainder shall continue in full force and effect, to the extent the remainder can be given effect without the invalid term or provision. 6.12. No Waiver of Sovereign Immunity. Nothing in this Agreement shall be construed or deemed to constitute a waiver of the City's sovereign immunity. 6.13. No Third -Party Beneficiaries. This Agreement constitutes a contract solely among the City, Drury AT, Drury Land, the Developer and the Redevelopment Corporation. No third party has any beneficial interest in, or derived from, this Agreement. 6.14. Conflict of Interest. The Developer represents and warrants that it has fully complied in all material respects with the City's Charter regarding conflicting interests. In the acquisition, installation, completion and operation of the portions of the Redevelopment Project being undertaken by the Developer, no shareholder, member or officer of the Developer shall knowingly, after due inquiry, cause the Developer to employ or contract with any person if a member of such person's immediate family is a member of the City Council or is employed by the City in an administrative capacity (i.e., those having selection, hiring or supervisory or operational responsibility for the work to be performed pursuant to this Agreement). For the purposes of this Section "immediate family" includes wife, husband, son, daughter, mother, father, brother, sister, brother-in-law, sister-in-law, father-in-law, mother-in-law, aunt, uncle, niece, nephew, step- parent, and step -child. -20- 6.15. Further Authority. The City Manager is authorized to execute all documents on behalf of the City (including documents pertaining to the transfer of property or the financing or refinancing of the Redevelopment Project or any portion thereof) as may be required to carry out and comply with the intent of this Agreement. The City Manager is also authorized, unless expressly prohibited herein, to grant on behalf of the City such consents, estoppels and waivers relating to this Agreement as may be requested during the term hereof; provided, such consents, estoppels and/or waivers shall not increase the Maximum Reimbursement Amount set forth herein, waive an event of default or materially change the nature of the transactions contemplated herein unless otherwise approved by the City Council. 6.16. Project Data. The Developer has engaged architects, engineers and various other consultants to enable the Developer to provide certain estimates regarding the total cost of the Redevelopment Project, for review by the City and its consultants, which estimates are set forth as Exhibit G, attached hereto and incorporated herein by reference (the "Project Data "). In providing the Project Data, the Developer has generally reviewed and relied upon certain information furnished by its architects, engineers and various other consultants. The Project Data contains prospective information, opinions and estimates regarding a Redevelopment Project that has not yet been constructed. The Project Data is not provided as a prediction or assurance that a certain level of performance will be achieved or that certain events will occur. The Parties agree that actual results will vary from the estimates provided in the Project Data and that such variations may be material. Nevertheless, to the Developer's knowledge, the Project Data is a good faith estimate of anticipated costs of the Redevelopment Project as of the date hereof. 6.17. Term of Agreement. This Agreement shall terminate on the earliest of the following: (a) termination by the Developer pursuant to Section 6.1; (b) termination by the City pursuant to Section 6.2; or (c) payment in full of all outstanding Project Obligations or, if such Project Obligations are not paid in full at final maturity, then upon expiration of the last to expire of the CID Sales Tax and the CID Special Assessments. ARTICLE VII REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE PARTIES 7.1. Representations by the City. The City makes the following representations and warranties, which are true and correct on the date hereof: (a) No Violations. The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, and the fulfillment of the terms and conditions hereof do not and will not conflict with or result in a breach of any of the terms or conditions of any agreement or instrument to which it is now a party, and do not and will not constitute a default under any of the foregoing. (b) No Litigation. To the City's knowledge, no litigation, proceedings or investigations are pending against the City with respect to the Redevelopment Project or this Agreement. In addition, no litigation, proceedings or investigations are pending against the City that seek to restrain, enjoin or in any way limit the approval or execution, delivery or validity of this Agreement or that would in any manner challenge or adversely affect the existence or powers of the City to enter into and carry out the transactions described in or contemplated by this Agreement or the performance by the City of the terms and provisions hereof. (c) No Default. No default or event of default has occurred and is continuing, and no event has occurred and is continuing that with the lapse of time or the giving of notice, or both, -21- would constitute a default or an event of default in any material respect on the part of the City under this Agreement. 7.2. Representations by Drury AT. Drury AT makes the following representations and warranties, which are true and correct on the date hereof: (a) No Violations. The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, and the fulfillment of the terms and conditions hereof do not and will not conflict with or result in a breach of any of the terms or conditions of any corporate or organizational restriction or of any agreement or instrument to which it is now a party, and do not and will not constitute a default under any of the foregoing. (b) No Litigation. To Drury AT's knowledge (including the knowledge of the representative of Drury AT executing this Agreement), no litigation, proceedings or investigations are pending against Drury AT (or any member of Drury AT) with respect to the Redevelopment Project. In addition, to Drury AT's knowledge (including the knowledge of the representative of Drury AT executing this Agreement), no litigation, proceedings or investigations are pending against Drury AT (or any member of Drury AT) that seek to restrain, enjoin or in any way limit the approval or execution, delivery or validity of this Agreement or that would in any manner challenge or adversely affect the existence or powers of Drury AT to enter into and carry out the transactions described in or contemplated by this Agreement or the performance by Drury AT of the terms and provisions hereof. (c) No Default. No default or event of default has occurred and is continuing, and no event has occurred and is continuing that with the lapse of time or the giving of notice, or both, would constitute a default or an event of default in any material respect on the part of Drury AT under this Agreement or any other material agreement or material instrument related to Drury AT's ability to perform pursuant to this Agreement and to which Drury AT is a party or by which Drury AT is or may be bound. (d) Compliance with Laws. With respect to its ability to perform pursuant to this Agreement, Drury AT is, to its knowledge, in material compliance with all valid laws, ordinances, orders, decrees, decisions, rules, regulations and requirements of every duly constituted governmental authority, commission and court applicable to any of its affairs, business or operations as contemplated by this Agreement. (e) Anti -Discrimination Against Israel Act. Pursuant to Section 34.600 of the Revised Statutes of Missouri, Drury AT certifies it is not currently engaged in and shall not, for the duration of this Agreement, engage in a boycott of goods or services from the State of Israel; companies doing business in or with Israel or authorized by, licensed by, or organized under the laws of the State of Israel; or persons or entities doing business in the State of Israel. 7.3. Representations by Drury Land. Drury Land makes the following representations and warranties, which are true and correct on the date hereof: (a) No Violations. The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, and the fulfillment of the terms and conditions hereof do not and will not conflict with or result in a breach of any of the terms or conditions of any corporate or organizational restriction or of any agreement or instrument to which it is now a party, and do not and will not constitute a default under any of the foregoing. -22- (b) No Litigation. To Drury Land's knowledge (including the knowledge of the officer of Drury Land executing this Agreement), no litigation, proceedings or investigations are pending against Drury Land (or any shareholder or officer of Drury Land) with respect to the Redevelopment Project. In addition, to Drury Land's knowledge (including the knowledge of the officer of Drury Land executing this Agreement), no litigation, proceedings or investigations are pending against Drury Land (or any shareholder or officer of Drury Land) that seek to restrain, enjoin or in any way limit the approval or execution, delivery or validity of this Agreement or that would in any manner challenge or adversely affect the existence or powers of Drury Land (or any officer of Drury Land) to enter into and carry out the transactions described in or contemplated by this Agreement or the performance by Drury Land (or any shareholder or officer of Drury Land) of the terms and provisions hereof. (c) No Default. No default or event of default has occurred and is continuing, and no event has occurred and is continuing that with the lapse of time or the giving of notice, or both, would constitute a default or an event of default in any material respect on the part of Drury Land under this Agreement or any other material agreement or material instrument related to Drury Land's ability to perform pursuant to this Agreement and to which Drury Land is a party or by which Drury Land is or may be bound. (d) Compliance with Laws. With respect to its ability to perform pursuant to this Agreement, Drury Land is, to its knowledge, in material compliance with all valid laws, ordinances, orders, decrees, decisions, rules, regulations and requirements of every duly constituted governmental authority, commission and court applicable to any of its affairs, business or operations as contemplated by this Agreement. (e) Anti -Discrimination Against Israel Act. Pursuant to Section 34.600 of the Revised Statutes of Missouri, Drury Land certifies it is not currently engaged in and shall not, for the duration of this Agreement, engage in a boycott of goods or services from the State of Israel; companies doing business in or with Israel or authorized by, licensed by, or organized under the laws of the State of Israel; or persons or entities doing business in the State of Israel. 7.4. Representations by the Developer. The Developer makes the following representations and warranties, which are true and correct on the date hereof: (a) No Violations. The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, and the fulfillment of the terms and conditions hereof do not and will not conflict with or result in a breach of any of the terms or conditions of any corporate or organizational restriction or of any agreement or instrument to which it is now a party, and do not and will not constitute a default under any of the foregoing. (b) No Litigation. To the Developer's knowledge (including the knowledge of the Developer's officer executing this Agreement), no litigation, proceedings or investigations are pending against the Developer (or any shareholder or officer of the Developer) with respect to the Redevelopment Project. In addition, to the Developer's knowledge (including the knowledge of the Developer's officer executing this Agreement), no litigation, proceedings or investigations are pending against the Developer (or any shareholder or officer of the Developer) that seek to restrain, enjoin or in any way limit the approval or execution, delivery or validity of this Agreement or that would in any manner challenge or adversely affect the existence or powers of the Developer (or any officer of the Developer) to enter into and carry out the transactions described in or contemplated by this Agreement or the performance by the Developer (or any shareholder or officer of the Developer) of the terms and provisions hereof. -23- (c) No Default. No default or event of default has occurred and is continuing, and no event has occurred and is continuing that with the lapse of time or the giving of notice, or both, would constitute a default or an event of default in any material respect on the part of the Developer under this Agreement or any other material agreement or material instrument related to the Developer's ability to perform pursuant to this Agreement and to which the Developer is a party or by which the Developer is or may be bound. (d) Compliance with Laws. With respect to its ability to perform pursuant to this Agreement, the Developer is, to its knowledge, in material compliance with all valid laws, ordinances, orders, decrees, decisions, rules, regulations and requirements of every duly constituted governmental authority, commission and court applicable to any of its affairs, business or operations as contemplated by this Agreement. (e) Anti -Discrimination Against Israel Act. Pursuant to Section 34.600 of the Revised Statutes of Missouri, the Developer certifies it is not currently engaged in and shall not, for the duration of this Agreement, engage in a boycott of goods or services from the State of Israel; companies doing business in or with Israel or authorized by, licensed by, or organized under the laws of the State of Israel; or persons or entities doing business in the State of Israel. 7.5. Representations by the Redevelopment Corporation. The Redevelopment Corporation makes the following representations and warranties, which are true and correct on the date hereof: (a) No Violations. The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, and the fulfillment of the terms and conditions hereof do not and will not conflict with or result in a breach of any of the terms or conditions of any corporate or organizational restriction or of any agreement or instrument to which it is now a party, and do not and will not constitute a default under any of the foregoing. (b) No Litigation. To the Redevelopment Corporation's knowledge (including the knowledge of the officer of the Redevelopment Corporation executing this Agreement), no litigation, proceedings or investigations are pending against the Redevelopment Corporation (or any shareholder or officer of the Redevelopment Corporation) with respect to the Redevelopment Project. In addition, to the Redevelopment Corporation's knowledge (including the knowledge of the officer of the Redevelopment Corporation executing this Agreement), no litigation, proceedings or investigations are pending against the Redevelopment Corporation (or any shareholder or officer of the Redevelopment Corporation) that seek to restrain, enjoin or in any way limit the approval or execution, delivery or validity of this Agreement or that would in any manner challenge or adversely affect the existence or powers of the Redevelopment Corporation (or any officer of the Redevelopment Corporation) to enter into and carry out the transactions described in or contemplated by this Agreement or the performance by the Redevelopment Corporation (or any shareholder or officer of the Redevelopment Corporation) of the terms and provisions hereof. (c) No Default. No default or event of default has occurred and is continuing, and no event has occurred and is continuing that with the lapse of time or the giving of notice, or both, would constitute a default or an event of default in any material respect on the part of the Redevelopment Corporation under this Agreement or any other material agreement or material instrument related to the Redevelopment Corporation's ability to perform pursuant to this Agreement and to which the Redevelopment Corporation is a party or by which the Redevelopment Corporation is or may be bound. -24- (d) Compliance with Laws. With respect to its ability to perform pursuant to this Agreement, the Redevelopment Corporation is, to its knowledge, in material compliance with all valid laws, ordinances, orders, decrees, decisions, rules, regulations and requirements of every duly constituted governmental authority, commission and court applicable to any of its affairs, business or operations as contemplated by this Agreement. (e) Anti -Discrimination Against Israel Act. Pursuant to Section 34.600 of the Revised Statutes of Missouri, the Redevelopment Corporation certifies it is not currently engaged in and shall not, for the duration of this Agreement, engage in a boycott of goods or services from the State of Israel; companies doing business in or with Israel or authorized by, licensed by, or organized under the laws of the State of Israel; or persons or entities doing business in the State of Israel. [Remainder of Page Intentionally Left Blank] -25- IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed in their respective names, and the City has caused its seal to be affixed hereto and attested, as of the date first above written (SEAL) ATTEST: Gayle Conrad, City Clerk CITY OF CAPE GIRARDEAU, MISSOURI Kenneth Haskin, City Manager ACKNOWLEDGMENT STATE OF MISSOURI ) ) SS. COUNTY OF CAPE GIRARDEAU ) On this day of , 2026, before me appeared KENNETH HASKIN, to me personally known, who, being by me duly sworn, did say that he is the City Manager of the CITY OF CAPE GIRARDEAU, MISSOURI, a home rule city, and that he is authorized to sign the foregoing instrument on behalf of said city, and acknowledged that he executed said instrument as said city's free act and deed. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in the County and State aforesaid on the day and year last above written. My Commission Expires: S-1 Name: Notary Public - State of Missouri Commissioned in DRURY AT 2024, LLC By: Name: Timothy M. Drury Title: ACKNOWLEDGMENT STATE OF MISSOURI ) ) SS. COUNTY OF ST. LOUIS ) On this day of , 2026, before me appeared TIMOTHY M. DRURY, to me personally known, who, being by me duly sworn, did say that he is an authorized signatory of DRURY AT 2024, LLC, a Missouri limited liability company, and that he is authorized to sign the foregoing instrument on behalf of said company, and acknowledged that he executed said instrument as said company's free act and deed. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in the County and State aforesaid on the day and year last above written. My Commission Expires: S-2 Name: Notary Public - State of Missouri Commissioned in St. Louis County DRURY LAND DEVELOPMENT, INC. Timothy M. Drury, President ACKNOWLEDGMENT STATE OF MISSOURI ) ) SS. COUNTY OF ST. LOUIS ) On this day of , 2026, before me appeared TIMOTHY M. DRURY, to me personally known, who, being by me duly sworn, did say that he is the President of DRURY LAND DEVELOPMENT, INC., a Missouri corporation, and acknowledged that he executed said instrument as said corporation's free act and deed. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in the County and State aforesaid on the day and year last above written. My Commission Expires: S-3 Name: Notary Public - State of Missouri Commissioned in DRURY DEVELOPMENT CORPORATION Timothy M. Drury, President ACKNOWLEDGMENT STATE OF MISSOURI ) ) SS. COUNTY OF ST. LOUIS ) On this day of , 2026, before me appeared TIMOTHY M. DRURY, to me personally known, who, being by me duly sworn, did say that he is the President of DRURY DEVELOPMENT CORPORATION, a Missouri corporation, and acknowledged that he executed said instrument as said corporation's free act and deed. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in the County and State aforesaid on the day and year last above written. My Commission Expires: S-4 Name: Notary Public - State of Missouri Commissioned in CAPE WEST PLAZA REDEVELOPMENT CORPORATION By: Name: Title: EIXQ 114 �'/_I_I 04 01I405 1040II tl STATE OF MISSOURI ) ) SS. COUNTY OF ST. LOUIS ) On this day of , 2026, before me appeared , to me personally known, who, being by me duly sworn, did say that he/she is an authorized signatory of CAPE WEST PLAZA REDEVELOPMENT CORPORATION, a Missouri urban redevelopment corporation, and acknowledged that he/she executed said instrument as said corporation's free act and deed. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in the County and State aforesaid on the day and year last above written. My Commission Expires: S-5 Name: Notary Public - State of Missouri Commissioned in EXHIBIT A LEGAL DESCRIPTION OF REDEVELOPMENT AREA THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN TH E CITY AND COUNTY OF CAPE GIRARDEAU, STATE OF MISSOURI, AND DESCRIBED AS FOLLOWS: ALLOF LOTTWO (2)OFCAPE WEST 12TH SUBDIVISION IN THECITY ANDCOUNTYOFCAPE GIRARDEAU, MISSOURI, AS SHOWN BY PLAT FILED IN PLAT BOOK 22 AT PAGE 68. ALSO, PARTOF LOTNO.3 OF CAPE WEST SEVENTH SUBDIVISION AS SHOWN BY PLATRECORDED IN PLAT BOOK NO. 18 AT PAGE NO. 65, DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHWEST CORNER OF LOTNO.2 OF CAPF. WEST 12TH SUBDIVISION AS SHOWN ON PLAT FILED IN BOOK 22, PAGE 68; THENCEN21'4500"W, 592.13' ALONG THE EASTERLY RIGHT OF WAY LINE OF SIEMERS DRIVE TO THE BEGINNING OF A CURVE CONCAVETO THE SOUTHWEST HAVING A RADIUS OF703.15 FEET AND A CENTRAL ANGLE OF 22029'23" AND A LENGTH OF 276.00 FEET IN A NORTHWESTERLY DIRECTION ALONG SAID CURVE, AND RIGHT OF WAY; TO A POINT AT THE NORTHWEST CORNER OF SAID LOT TWO (2) ON THE EAST RIGHT OF WAY LINE OF SIEMERS DRIVE; THENCE CONTINUING ALONG THE CURVE FOR 10.39' HAVING A RADIUS OF 703.15 FEET AND A CENTRAL ANGLE OF 00° 50'48"; THENCE CONTINUING ALONG SAID RIGHT OF WAY LINE THE FOLLOWING COURSES AND DISTANCES: N45 '05' 12"W, 156.61 FEET TO THE BEGINNING OF A CURVE CONCAVE TO THE NORTHEAST HAVING A RADIUS OF 660.00 FEET AND A CENTRAL ANGLE OF 23' 20'12"; THENCE ALONG SAID CURVE IN A NORTHWESTERLY DIRECTION 268.82 FEET; THENCE N21- 45' 00"W, 97.69 FEET; THENCE 568.15' 00"W, 10.00 FEET; THENCE N21'45'00"W,51.21 FEET TO THE SOUTHWEST CORNER OF LOT 3 A OF CAPE WEST SEVENTH AS SHOWN BY PLAT RECORDED IN PLAT BOOK NO. 18 PAGE NO. 65; THENCE DEPARTING SAID RIGHT OF WAY LINE ALONG THE SOUTH LINE OF SAID LOT 3A THE FOLLOWING COURSES AND DISTANCES; N68 -15' 00"E, 343.05 FEET; THENCE N21' 45'00-W, 132.59' FEET; THENCE N68' 15'00"E, 210.00 FEET; THENCE S21 '45' 00"E, 124.59 FEET; THENCE N68' 15'00" E, 170.50 FEET TO THE SOUTHEAST CORNER OF SAID LOT 3A OF CAPE WEST SEVENTH, SAID POINT ALSO BEING ON THE WEST RIGHT OF WAY LINE OF INTERSTATE 55, THENCE A-1 S21-45' 00"E, 559.13' ALONG SAID WEST RIGHT OF WAY TO THE NORTHEAST CORNER OF SAID LOT TWO (2) OF CAPE WEST 12TH SUBDIVISION; THENCE S21 °45' 00"E, 54.33 FEET; THENCE 5680 15'00" W, 40.00 FEET; THENCE S2 I* 45'00"E, 30.00 FEET; THENCE N680 15' 00"E, 40.00 FEET TO A POINT TO THE AFORESAID WESTERLY RIGHT OF WAY LINE OF ROUTE 55; THENCE ALONG SAID RIGHT OF WAY LINE THE FOLLOWING COURSES AND DISTANCES: S21'45' 00"E, 375.99 FEET; THENCE SI 80 53' 15"E, 100.12 FEET; THENCE S210 45' 00"E 313.36 FEET TO A POINT BEING THE SOUTHEAST CORNER OF THE AFOREMENTIONED LOT TWO OF CAPE WEST 12TH SUBDIVISION; THENCE S68015' 00" W, 535.00 FEET ALONG THE SOUTH LINE OF SAID LOT TWO TO THE SOUTHWEST CORNER OF LOT 2 OF CAPE WEST 12TH SUBDIVISION TO THE POINT OF BEGINNING, CONTAINING 20.217 ACRES. THE ABOVE DESCRIPTIONS ARE BASED ON: TITLE REPORT NUMBER 24219435 PREPARED BY CAPE GIRARDEAU COUNTY ABSTRACT & TITLE CO. INC., REVIEWED THROUGH NOVEMBER 6, 2024. THE TITLE REPORT AS THAT DESCRIBED IN FIRST AMERICAN TITLE INSURANCE COMPANY COMMITMENT NUMBER PNT450I1MO WITH AN EFFECTIVE DATE OF AUGUST 1, 2023. A-2 EXHIBIT B DEPICTION OF REDEVELOPMENT PROJECT/CONCEPT SITE PLAN I RACT -------- PRELIMINARY BUILIDING AREA > i jp, 1 PQM, i SM3 fi HIM*,I I [PIR, 1H.1i p --SIGN — 5 '01JUYE" SM2 — — — — -- --.SIEMERS— BRIVEf n'ITo 7 • J • CID f.1, C30 mm CW3 cis _ —=tTA W:.1GEFr T _qAG =;7: HE 7= ip i i " C3113 ------------ %,% CAP*rf�A E WESTTARGET RETAIL rLAzA r STORE EE rri firsill L- ..... 4 L L4— = I= CONCEPTUAL REDEVELOPMENT OF FORMER SEARS GRAND »i'F'HfNFs, ME CONCEPTUAL REDEVELOPMENT OF FORMER SEARS GRAND Q Q Q r i I'll)�T. 1 i, 1 I ! Q I I i l 1 i /'1�anw uavuu . caswc w � c o �oelb�l E � • c n i (� (r_i (_I'1 A, ZONCEPTUAL PLANS EXHIBIT C FORM OF FEDERAL WORK AUTHORIZATION PROGRAM AFFIDAVIT STATE OF MISSOURI ) ) SS COUNTY OF ST. LOUIS ) I, the undersigned, am over the age of 18 years and have personal knowledge of the matters stated herein. I am a duly authorized officer of Drury AT 2024, LLC, a Missouri limited liability company ("Drury AT'), and am President of Drury Land Development, Inc., a Missouri corporation ( "Drury Land"), and Drury Development Corporation, a Missouri corporation ("DDC"). I am authorized to attest to the matters set forth herein. Neither Drury AT nor Drury Land has any employees, and neither entity is expected to have any employees in the future. All employment matters related to projects undertaken by Drury AT and Drury Land in the City of Cape Girardeau, Missouri, will be administered by their affiliate, DDC. I hereby affirm DDC's enrollment and participation in a "federal work authorization program" as defined in Section 285.525 of the Revised Statutes of Missouri, as amended. DDC does not knowingly employ any person who is an "unauthorized alien" as defined in Section 285.525 of the Revised Statutes of Missouri, as amended. Further Affiant Sayeth Not. DRURY AT 2024, LLC By: Name: Timothy M. Drury Title: DRURY LAND DEVELOPMENT, INC. By: Name: Title: Timothy M. Drury President DRURY DEVELOPMENT CORPORATION By: Name: Timothy M. Drury Title: President C-1 Subscribed and sworn to before me this day of , 20_ My Commission Expires: IOW Notary Public EXHIBIT D FORM OF CERTIFICATE OF REIMBURSABLE DISTRICT PROJECT COSTS Certificate of Reimbursable District Project Costs TO: Cape West Plaza Community Improvement District Cape Girardeau, Missouri City of Cape Girardeau, Missouri Cape Girardeau, Missouri Re: Cape West Plaza Redevelopment Project Terms not otherwise defined herein shall have the meanings ascribed to such terms in the Redevelopment Agreement dated as of [*Document Date*] (the "Agreement") among the City of Cape Girardeau, Missouri (the "City "), Drury AT 2024, LLC, Drury Land Development, Inc., Drury Development Corporation (the "Developer"), and Cape West Plaza Redevelopment Corporation. In connection with said Agreement, the undersigned hereby states and certifies that: 1. A total of $ in Reimbursable District Project Costs was incurred in connection with the acquisition and construction of the Redevelopment Project, as shown on Schedule 1, attached hereto and incorporated herein by reference. Attached are itemized invoices, receipts or other documentation evidencing that all such costs have been paid or incurred and qualify as Reimbursable District Project Costs under the Agreement. 2. The Reimbursable District Project Costs have been paid by the Developer, are reimbursable under the Agreement and shall be reimbursed by the CID. A copy of this Certificate is being delivered simultaneously to the CID. 3. No Reimbursable District Project Cost listed on Schedule 1 has been included in any other certificate previously filed with the City. 4. There has not been filed with or served upon the Developer any notice of any lien, right of lien or attachment upon or claim affecting the right of any person, firm or corporation to receive payment of the amounts stated in this request, except to the extent any such lien is being contested in good faith. 5. The Redevelopment Project has been performed in a good and workmanlike manner and in accordance with the Approved Site Plan and the Agreement. Agreement. The Developer is not in material default or breach of any term or condition of the D-1 Dated this day of , 20_ DRURY DEVELOPMENT CORPORATION [Name], [Title] Approved this day of , 20 CAPE WEST PLAZA COMMUNITY IMPROVEMENT DISTRICT 0 [Name], [Title] Approved this day of , 20 CITY OF CAPE GIRARDEAU, MISSOURI [Name], [Title] Iia EXHIBIT E FORM OF COMPLETION CERTIFICATE Completion Certificate The undersigned, pursuant to that certain Redevelopment Agreement dated as of [*Document Date*] (the "Agreement") among the City of Cape Girardeau, Missouri (the "City"), Drury AT 2024, LLC, Drury Land Development, Inc., Drury Development Corporation (the `Developer"), and Cape West Plaza Redevelopment Corporation, hereby certifies to the City as follows: 1. As of , 20_, the [In -Line Project] [Sears Project] has been substantially completed in accordance with the Agreement. 2. The [In -Line Project] [Sears Project] has been completed in a good and workmanlike manner and in accordance with the Agreement, the Approved Site Plan and all Governmental Approvals applicable thereto. 3. Lien waivers for the [In -Line Project] [Sears Project] have been obtained. 4. This Completion Certificate is accompanied by one or more architect's certificate(s) of substantial completion on AIA Form G-704 (or the substantial equivalent thereof), which, when taken together, certify that the [In -Line Project] [Sears Project] has been substantially completed in accordance with the Agreement. 5. This Completion Certificate is being issued by the Developer to the City in accordance with the Agreement to evidence the Developer's satisfaction of all obligations and covenants in the Agreement to complete the [In -Line Project] [Sears Project]. 6. The Developer, simultaneous with the submission of this Completion Certificate, provided the City with a Certificate of Reimbursable District Project Costs for the [In -Line Project] [Sears Project]. This Completion Certificate is given without prejudice to any rights against third parties that exist as of the date hereof or that may subsequently come into being. Following the City's acceptance of Completion Certificates for both the In -Line Project and the Sears Project, the Developer may record the Completion Certificates in the office of the Cape Girardeau County Recorder of Deeds. Such recording shall evidence the satisfaction of the Developer's agreements and covenants to complete the Redevelopment Project pursuant to the Agreement. Terms not otherwise defined herein shall have the meanings ascribed to such terms in the Agreement. E-1 IN WITNESS WHEREOF, the undersigned has hereunto set his/her hand this day of 20 DRURY DEVELOPMENT CORPORATION ACCEPTED this day of , 20_ CITY OF CAPE GIRARDEAU, MISSOURI By: Name: Title: LN [Name], [Title] (Insert Notary Form(s) and Legal Description) E-2 EXHIBIT F FORM OF COOPERATION AGREEMENT THIS COOPERATION AGREEMENT (this "Agreement") is made and entered into as of , 2026, by and among the CITY OF CAPE GIRARDEAU, MISSOURI, a home rule city and political subdivision of the State of Missouri (the "City"), the CAPE WEST PLAZA COMMUNITY IMPROVEMENT DISTRICT, a community improvement district and political subdivision of the State of Missouri (the "CID"), DRURY AT 2024, LLC, a Missouri limited liability company ("Drury AT"), DRURY LAND DEVELOPMENT, INC., a Missouri corporation ( "Drury Land" and, collectively with Drury AT, the "Fee Owners"), and DRURY DEVELOPMENT CORPORATION, a Missouri corporation (the "Developer" and, together with the City, the Fee Owners and the CID, the "Parties"). All capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in the hereinafter -defined Redevelopment Agreement. RECITALS: 1. The City, the Fee Owners, the Developer and Cape West Plaza Redevelopment Corporation entered into a Redevelopment Agreement dated as of [*Document Date*] (the "Redevelopment Agreement"). 2. The Parties desire to enter into this Agreement, as contemplated by the Redevelopment Agreement, to set forth their respective rights and responsibilities regarding the construction and financing of projects to be funded by the CID (the "CID Project"). AGREEMENT: NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained in this Agreement, the Parties agree as follows: Section 1. Authority of the City. The City has full constitutional and lawful right, power, and authority, under current applicable law, to execute and deliver and perform the terms and obligations of this Agreement, and this Agreement has been duly and validly authorized and approved by all necessary City proceedings, findings, and actions. Accordingly, this Agreement constitutes the legal, valid, and binding obligation of the City, enforceable in accordance with its terms. Section 2. Authority of the CID. The CID has full constitutional and lawful right, power, and authority, under current applicable law, to execute and deliver and perform the terms and obligations of this Agreement, and this Agreement has been duly and validly authorized and approved by all necessary CID proceedings, findings, and actions. Accordingly, this Agreement constitutes the legal, valid, and binding obligation of the CID, enforceable in accordance with its terms. Section 3. Authority of Drury AT. Drury AT has full corporate and lawful right, power, and authority, under current applicable law, to execute and deliver and perform the terms and obligations of this Agreement, and this Agreement has been duly and validly authorized and approved by all necessary corporate proceedings, findings, and actions. Accordingly, this Agreement constitutes the legal, valid, and binding obligation of Drury AT, enforceable in accordance with its terms. Section 4. Authority of Drury Land. Drury Land has full corporate and lawful right, power, and authority, under current applicable law, to execute and deliver and perform the terms and obligations F-1 of this Agreement, and this Agreement has been duly and validly authorized and approved by all necessary corporate proceedings, findings, and actions. Accordingly, this Agreement constitutes the legal, valid, and binding obligation of Drury Land, enforceable in accordance with its terms. Section 5. Authority of the Developer. The Developer has full corporate and lawful right, power, and authority, under current applicable law, to execute and deliver and perform the terms and obligations of this Agreement, and this Agreement has been duly and validly authorized and approved by all necessary corporate proceedings, findings, and actions. Accordingly, this Agreement constitutes the legal, valid, and binding obligation of the Developer, enforceable in accordance with its terms. Section 6. CID Sales Tax. Promptly following the approval of this Agreement by the CID's Board of Directors (the "CID Board"), the CID shall adopt a resolution to impose a community improvement district sales and use tax (the "CID Sales Tax"). The Fee Owners and the City will promptly cause, through their respective representatives appointed to the CID Board and, with respect to the Fee Owners, in their capacity as qualified voters, the CID Sales Tax to be levied by the CID and approved by the qualified voters at the rate of not to exceed one percent (1.0%). The CID Sales Tax shall be imposed as soon as possible pursuant to the terms of the CID Act and any other applicable laws and shall not be terminated so long as any Project Obligations issued by or on behalf of the CID and secured thereby remain outstanding and unless otherwise in conformance with Section 67.1545.9 of the CID Act. Section 7. CID Special Assessment. Promptly following the approval of this Agreement by the CID Board, the CID Board shall adopt a resolution to impose a community improvement district special assessment (the "CID Special Assessment"). The Fee Owners and the City will promptly cause, through their respective representatives appointed to the CID Board, the CID Special Assessment to be levied by the CID Board, as approved by petition of the owners of more than 50% of the assessed value of the real property within the CID and the owners of more than 50% per capita of all of the real property within the CID. In each calendar year that a Lot is subject to the limited tax abatement provided by Section 5.1 of the Redevelopment Agreement, the CID Special Assessment shall be levied on such Lot at a rate not to exceed the greater of (1) the Actual Abatement Amount or (2) the amount shown on the Annual Special Assessment Schedule. The CID Special Assessment shall be imposed as soon as possible pursuant to the terms of the CID Act and any other applicable laws and shall not be terminated so long as any Project Obligations issued by or on behalf of the CID and secured thereby remain outstanding and unless otherwise in conformance with the CID Act. Section 8. Continuing Existence of the CID. None of the CID, the City, the Fee Owners or the Developer will take any action to dissolve the CID or reduce the rate of the CID Sales Tax or the CID Special Assessment until (1) the funding and construction of the CID Project are completed, including the payment in full or cancellation of all Project Obligations issued by or on behalf of the CID and secured by the CID Sales Tax Revenues or the CID Special Assessment Revenues, as applicable, or (2) 27 years from the effective date of the ordinance approving the CID, unless the term of the CID is extended pursuant to Section 67.1481.6 of the CID Act. Upon the earlier to occur of (1) or (2) pursuant to the preceding sentence, the CID will immediately take such steps as may be required to terminate the CID Sales Tax and the CID Special Assessment. After all Project Obligations issued by or on behalf of the CID are paid in full or cancelled, the CID will immediately take such steps as may be required to dissolve the CID. Section 9. Governance of the CID. (a) The Parties acknowledge that the CID will be governed by a board of directors made up of five individuals appointed by the Mayor with the consent of the City Council, three of whom shall be representatives of the owners of real property or businesses operating within the CID and two of whom shall be residents of the City who are qualified and registered to vote and who have no financial interest in F-2 any real property or business operating within the CID. Successor directors of the CID shall be appointed as set forth in the petition for the creation of the CID. (b) The CID shall employ or engage an administrator or legal counsel with experience managing special taxing districts to ensure that the CID complies with this Agreement and all applicable laws and regulations. If the CID (1) fails to comply with any reporting requirement contained in the CID Act or other applicable law for two consecutive years, including, without limitation, timely submittal of annual reports, financial statements and budgets, (2) admits to or is found by a court to have committed two or more violations of Chapter 610 of the Revised Statutes of Missouri, as amended, or (3) is unresponsive to any inquiry or audit initiated by the Missouri State Auditor's office, then the City may designate an administrator or legal counsel for the CID to engage, at the CID's cost, to ensure that the CID complies with this Agreement and all applicable laws and regulations. (c) Except as expressly provided in Sections 10 and 11 of this Agreement, unless otherwise approved by the City in its sole and absolute discretion, the CID shall have no authorization to pay any costs, impose any tax, license, fee or assessment (other than the CID Sales Tax and the CID Special Assessment), or incur any obligations. (d) The Developer, the Fee Owners and the CID shall allow the City and its employees, agents, and representatives to inspect, within three business days after request therefor, all contracts, documents and records pertaining to the CID Project and the CID, including but not limited to the CID Sales Tax, the CID Special Assessment, and the CID's financial statements. In addition, the CID agrees that, before the effective date of the CID Sales Tax, the CID will file Form 4379 with the Missouri Department of Revenue to designate the City's Director of Finance as an authorized person to access all information regarding the CID Sales Tax under Sections 32.057 and 144.121 of the Revised Statutes of Missouri, as amended, so long as permitted under the Revised Statutes of Missouri, as amended. Section 10. Construction of the CID Project. The Developer shall construct, or cause the construction of, the CID Project and shall cause all funds to be advanced therefor. The Developer may be reimbursed for the costs thereof from the proceeds of Project Obligations, as further described in Section 11 of this Agreement. Section 11. Reimbursable CID Project Costs and Project Obligations. (a) The CID shall establish the "CID Trust Fund," which shall include a "Sales Tax Account" and a "Special Assessment Account." The CID Sales Tax Revenues and the CID Special Assessment Revenues shall be deposited in the Sales Tax Account and the Special Assessment Account, respectively, and disbursed as follows: (1) first, to pay the CID's operating costs (legal, administrative, insurance, audit, etc.), which amount shall be paid equally from the Sales Tax Account and the Special Assessment Account and shall not exceed $20,000 for calendar year 2026, plus a year -over -year increase of 3% for any subsequent year, or such greater amount as unanimously approved by the members of the CID Board present at the meeting at which a quorum, including the City's two representatives, is present and the increase in the CID's annual operating costs is considered; and (2) second, to pay Project Obligations, as further described below. (b) The Developer agrees, upon written request of the CID, to promptly pay any operating costs in excess of the moneys available under (a)(1) above if the CID's revenues are insufficient for that F-3 purpose. Any such moneys paid by the Developer may be reimbursed by the CID when sufficient funding is available. (c) If any Project Obligations have been issued by or on behalf of the CID in accordance with Article IV of the Redevelopment Agreement, the CID (1) may use the proceeds thereof to reimburse the Developer for the Reimbursable District Project Costs identified in all approved Certificates of Redevelopment Project Costs and (2) shall use the money available under (a)(2) to pay such Project Obligations; provided, however, that money in the Special Assessment Account shall only be used to pay those Project Obligations secured by the CID Special Assessment Revenues. (d) If the CID Special Assessment Revenues collected and received by the CID exceed the amount necessary to pay in full Project Obligations payable from the CID Special Assessment Revenues, any excess funds shall be refunded to the owners of such tracts, lots or parcels that paid the final year of CID Special Assessments, pro rata relative to the amounts paid by such owners. Such refunds shall be made by December 31 of the year following the final year of the CID Special Assessments. Section 12. Federal Work Authorization Program. Simultaneously with the execution of this Agreement, the Developer shall provide the CID and the City with an affidavit, in substantially the form of Exhibit C to the Redevelopment Agreement, and documentation to evidence the Developer's compliance with Section 285.530 of the Revised Statutes of Missouri, as amended. Section 13. Insurance. (a) The CID will maintain reasonable levels of insurance throughout its existence. Without limiting the generality of the foregoing, the CID shall, simultaneously with the execution of this Agreement and annually thereafter through the term of this Agreement, provide evidence of a directors and officers liability or similar policy (in form and substance reasonably acceptable to the City Attorney) that includes coverage for all suits, claims, costs of defense, damages, injuries, liabilities, costs and/or expenses, including court costs and attorneys' fees and expenses, resulting from, arising out of, or in any way connected with the proceedings of the CID Board pursuant to the CID Act and Chapter 610 of the Revised Statutes of Missouri. (b) The policies of insurance required pursuant to clause (a) above shall be placed with MOPERM or financially sound and reputable insurers licensed to transact business in the State of Missouri with a financial strength rating of not less than A- and a financial size category of not less than VIII as designated in the most currently available "A.M. Best's" insurance reports. The CID shall deliver or cause to be delivered to the City copies of all insurance policies maintained hereunder. Section 14. Hold Harmless. Notwithstanding anything herein to the contrary, the City shall not be liable to the Developer, the Fee Owners or the CID for damages or otherwise if all or any part of the CID, the CID Project or any ordinance or resolution of the City adopted in connection therewith is declared invalid or unconstitutional in whole or in part by any court of competent jurisdiction. Section 15. Successors and Assigns. This Agreement may be assigned by the Fee Owners and/or the Developer in the same manner as allowed for the assignment of the Redevelopment Agreement in Section 6.4 of the Redevelopment Agreement. Section 16. Severability. If any term or provision of this Agreement is held to be unenforceable by a court of competent jurisdiction, the remainder shall continue in full force and effect, to the extent the remainder can be given effect without the invalid term or provision. F-4 Section 17. Waiver. The City's failure at any time hereafter to require strict performance by the CID, the Fee Owners or the Developer of any provision of this Agreement shall not waive, affect, or diminish any right of the City thereafter to demand strict compliance and performance therewith. Section 18. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same agreement. Section 19. Anti -Discrimination Against Israel Act. Pursuant to Section 34.600 of the Revised Statutes of Missouri, as amended, the Developer and each Fee Owner certifies that it is not currently engaged in and shall not, for the duration of this Agreement, engage in a boycott of goods or services from the State of Israel; companies doing business in or with Israel or authorized by, licensed by, or organized under the laws of the State of Israel; or persons or entities doing business in the State of Israel. [Remainder of Page Intentionally Left Blank] F-5 IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed in their respective names and attested as of the date first above written. CITY OF CAPE GIRARDEAU, MISSOURI LN [SEAL] ATTEST: Gayle Conrad, City Clerk [Cooperation Agreement] Kenneth Haskin, City Manager [SEAL] ATTEST: By: Name: Title: Secretary [Cooperation Agreement] F-7 CAPE WEST PLAZA COMMUNITY IMPROVEMENT DISTRICT By: Name: Title: Chair DRURY AT 2024, LLC By: Name: Timothy M. Drury Title: DRURY LAND DEVELOPMENT, INC. By: Name: Title: Timothy M. Drury President DRURY DEVELOPMENT CORPORATION By: Name: Title: [Cooperation Agreement] Timothy M. Drury President EXHIBIT G ESTIMATED PROJECT BUDGET AND REIMBURSABLE DISTRICT PROJECT COSTS 242 3femens Dane Description Suditeted Coats* Reimbursable Costs•* Columbia Construction Description Budgeted Costs* - Demolition of existing storefront sidewalk Acquisition Costs $ - Installation of new storefront sidewalk $ - - Demolition and repair of failed asphalt $ 6,761,975 - Installation of asphalt over existing parking lot S 972,000 S 972,000 - Rcstriping of parking lot 100,000 S - Installation of brick facade to existing columns Landscaping $ - Demolition of existing mansard roof mcial S 50,00o - Installation of new roof $ 135,00D A-1 Signs - Reimage Existing Freestanding $ 75,000 S 75,000 Signage 30,000 $ Landscaping S 50,000 S 50,000 Architccturc and Dcsi $ 97,200 S 97,200 Civil En in erin _ $ 97,200 S 97,200 Sot Coat Contin c 5 129,140 S 129,140 tubr„rul S 1,420,540 $ 1,420,540 a lbs anwmil m each btidpt cate@my ism estimate. Savings in one budget category tnny be applied to additional costs inatrred in other budget categories. •• Although it n estimated thnr there are elrgibk Cl 1) Project costs of 522,950,91 S. tine maximum mnotmt of CID Project costs that the pi olxned District will fund is S 11,500,0)0. 'Ile utoxirrsurn amount excludes the District's payment of the follrnving, a'htch anxnmts may be funded above and lxyrmd the nuaxrmons amount: all City applicaticxt fees, permit fees and other fees uicuned in connection with the CID Protea (%shah, on the aggregate, shall not exceed S200,000). Coats of Issuance (as defined in the Petition). if any, the proposed District's adminntrotivr fees and expenses including, but not lanited to. fees and costs related In the Ilainiosed District's formntion, plating consultmdts, ad%,LAns; auditors aad It -gal counscl, and reitnbursernent to the ON for dee City's third -party prufessicaW costs directly related to the City's consideration of the proposed Dwrict inchnJmg, without limitation, legal mul planning expenses incumd in relation to the Cit?'x eedahkilunt to of the proposed District ail the City's participation and responsibilities with regard to lite ongoing operation, fw►ctions and administration of the proposed District, G-1 330 Slesters Drive _ Description Budgeted Costs* Reimbursable Casts**_ Acquisition Costs $ 6,000,000 $ - Columbia Construction - Whitc Shell $ 6,761,975 $ 6,761 975 A- l Si a $ 100,000 S 100,000 Landscaping $ 50,000 S 50,00o Sitc Work for Pad $ 135,00D S 135,000 Repair Storm Inlet at SEC $ 30,000 $ 50,000 Architecture and Engineering Design $ 1,352,395 $ 1,352,395 Civil Enitineering $ 676,198 $ 676,198 Soft Cost Contingricy $ 912,557 $ 912,557 Tenant Allowance + Landlord Work S 5,492,250 S Snuolal S 21,530,375 $ 10,038125 Total CID Project Costs $ 22,950.915 1 S 11458 665 a lbs anwmil m each btidpt cate@my ism estimate. Savings in one budget category tnny be applied to additional costs inatrred in other budget categories. •• Although it n estimated thnr there are elrgibk Cl 1) Project costs of 522,950,91 S. tine maximum mnotmt of CID Project costs that the pi olxned District will fund is S 11,500,0)0. 'Ile utoxirrsurn amount excludes the District's payment of the follrnving, a'htch anxnmts may be funded above and lxyrmd the nuaxrmons amount: all City applicaticxt fees, permit fees and other fees uicuned in connection with the CID Protea (%shah, on the aggregate, shall not exceed S200,000). Coats of Issuance (as defined in the Petition). if any, the proposed District's adminntrotivr fees and expenses including, but not lanited to. fees and costs related In the Ilainiosed District's formntion, plating consultmdts, ad%,LAns; auditors aad It -gal counscl, and reitnbursernent to the ON for dee City's third -party prufessicaW costs directly related to the City's consideration of the proposed Dwrict inchnJmg, without limitation, legal mul planning expenses incumd in relation to the Cit?'x eedahkilunt to of the proposed District ail the City's participation and responsibilities with regard to lite ongoing operation, fw►ctions and administration of the proposed District, G-1 Staff: Trevor Pulley, Assistant City Manager Agenda: March 2, 2026 TITLE AGENDA REPORT Cape Girardeau City Council BILL NO. 26-17, an Ordinance designating a certain tract of land in the City of Cape Girardeau, Missouri, as a blighted area; approving the Cape West Plaza Development Plan; approving a redevelopment agreement in connection with the development plan; and authorizing the City to enter into certain agreements and take certain other actions in connection therewith. First Reading. DEV - Trevor Pulley SUMMARY An Ordinance designating a certain tract of land at 242 and 330 Siemers Drive in the City of Cape Girardeau, Missouri, as a "Blighted Area" Pursuant to chapter 353 of the revised Statutes of Missouri and approving the Development Plan and a Development Agreement in connection therewith. The Redevelopment Project: o Sears Grand Site: The building is approximately 142,000 square feet. The development will include partial demolition and complete renovation to convert the property from a single commercial use to a multi -tenant commercial use — construction is expected to last 12-14 months o In -Line Stores: Exterior renovations will include demolition, removal and replacement of sidewalks, asphalt overlay and re -striping of parking lot, repair and paint building fagade, install brick fagade to existing columns of the building, demolition and replacement of the roof, retrofit existing parking lot lights to LED and paint light poles, reimage existing exterior signage and enhance landscaping. This building is approximately 114,00 square feet built between 1996 and 1998. o Two legal parcels totaling approximately 20.25 acres Incentives for this project are: Legal Authority: Chapter 353 of the Missouri Revised Statutes ("Chapter 353") and Chapter 28 of the City Code. Partial Real Estate Tax Abatement Under Chapter 353: o First 10 years following completion of each parcel: 100% abatement of any incremental increase in equalized assessed valuation above the January 1, 2025 assessed value o Next 15 years for each parcel: 50% abatement of the real estate taxes on land and improvements Community Improvement District: Establish a CID o Drury proposes to create a CID within the Redevelopment Area to impose (1) a sales and use tax at the rate of 1 % and (2) a special assessment in an amount roughly equivalent to the value of the real property tax abatement granted under Chapter 353, which will be imposed on each parcel within the CID in the same years that such parcel is receiving tax abatement under Chapter 353. • CID will terminate at the earlier of (1) 27 years after the CID is created or (2) payment of CID Obligations in the principal amount of $27,500,000 plus all City application fees, permit fees and other fees incurred in connection with the CID Project plus issuance costs. • This is a 1% tax they impose on their goods. Example a $10.00 will be 10 cent Sales Tax Exemption on Construction Materials: Chapter 100 o Drury proposes that the City grant sales and use tax exemption on qualified building materials necessary to construct the Redevelopment Project under Chapter 100 of the Missouri Revised Statutes. Estimated Value of All Incentives: $11.727.500 • Approximately $11.500.000 for the Chapter 353 tax abatement and CID (total capped pursuant to the Redevelopment Agreement) • Approximately $227.500 for the Chapter 100 sales and use tax exemption • Estimated Value: $227.500. Benefits to City: • Approximately $330,000 annually in new sales tax revenue (2.75%) from new tenants • Approximately $13,000,000 in sales tax revenue (2.75%) from all tenants (existing and new) within the Redevelopment Area over a 10 -year period • Turn long -vacant Sears Grand site into a multi -tenant commercial use, creating jobs within the City • Additional personal property tax revenues in first 10 years, additional real and personal property tax revenues during next 15 years Benefits to Other Taxing Entities: • Significant additional sales tax revenue to the County from new tenants • Additional personal property tax revenues in first 10 years, additional real and personal property tax revenues during next 15 years FINANCIAL IMPACT • Estimated Value of All Incentives: $11.727.500 • Approximately $11,500,000 for the Chapter 353 tax abatement and CID (total capped pursuant to the Redevelopment Agreement) • Approximately $227.500 for the Chapter 100 sales and use tax exemption • Estimated Value: $227.500. SUSTAINABILITY: ECONOMIC, ENVIRONMENTAL AND SOCIAL IMPACTS Sears Grand closed in October 2019, along with approximately two dozen other stores nationwide. Since that time, this large anchor building has remained predominantly vacant aside from limited seasonal use of small portions of the space. A blight study was conducted and confirmed the development area was "Blighted". The redevelopment of this property is not merely desirable — it is strategically necessary. Large vacant anchor buildings negatively impact surrounding businesses, reduce consumer traffic, and suppress overall corridor performance. Returning this property to productive use will stimulate additional private investment, stabilize and strengthen the retail area, create jobs, and significantly increase sales. Any incentive participation by the City is structured to leverage substantial private capital, mitigate redevelopment risk associated with an aging big -box structure, and ensure the project delivers long-term public benefit. The City does not provide incentives lightly. They are evaluated carefully and used only when they produce measurable economic impact and protect the City's financial interests. This project transforms a long-standing vacancy into a catalyst for growth. Supporting this redevelopment is a fiscally responsible and forward-looking investment in the continued economic strength of Cape Girardeau. STAFF RECOMMENDATION It is recommended the City Council approve the attached Ordinance. PUBLIC OUTREACH The proposed project was presented at the February 17, 2026, Council Study Session. Notices of a Public Hearing concerning the formation of the Cape West Plaza Community Improvement District and proposed use of Missouri Revised Statues Chapter 353 tax abatement were published in the Southeast Missourian newspaper and held at the March 2, 2026 Council Meeting. ATTACHMENTS • 26-17_Cape West Plaza (353).doc • Cape West Plaza Ch 353 Plan _20260225.pdf • Redevelopment Agreement.pdf • Cape West Plaza Tax Impact Statement 20260225.pdf BILL NO. 26-17 ORDINANCE NO. AN ORDINANCE DESIGNATING A CERTAIN TRACT OF LAND IN THE CITY OF CAPE GIRARDEAU, MISSOURI, AS A BLIGHTED AREA; APPROVING THE CAPE WEST PLAZA DEVELOPMENT PLAN; APPROVING A REDEVELOPMENT AGREEMENT IN CONNECTION WITH THE DEVELOPMENT PLAN; AND AUTHORIZING THE CITY TO ENTER INTO CERTAIN AGREEMENTS AND TAKE CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH. WHEREAS, the City of Cape Girardeau, Missouri (the "City"), is authorized and empowered to undertake certain redevelopment projects pursuant to The Urban Redevelopment Corporations Law, Chapter 353 of the Revised Statutes of Missouri ("Chapter 353") and Chapter 28 of the City Code of Ordinances ("Chapter 28"); and WHEREAS, the "Cape West Plaza Development Plan," a copy of which is set forth as Exhibit A, attached hereto and incorporated herein by reference (the "Development Plan"), has been prepared and submitted to the City in connection with the proposed redevelopment of 242 and 330 Siemers Drive in the City (the "Redevelopment Area"); and WHEREAS, the Development Plan contemplates the use of real property tax abatement to (a) demolish, remove, renovate, reconstruct and rehabilitate the site infrastructure and improvements located at 330 Siemers Drive to convert the property from a single commercial use to a multi -tenant commercial use, and (b) renovate, reconstruct and rehabilitate the site infrastructure and exterior improvements located at 242 Siemers Drive to enhance the existing multi -tenant commercial shopping center (collectively and as further described in the Development Plan, the "Redevelopment Project"); and WHEREAS, included as Exhibit C to the Development Plan is an analysis prepared by Steadfast City Economic & Community Partners (the `Blight Analysis"), which documents the current conditions of the Redevelopment Area and supports a finding that the Redevelopment Area is a "blighted area" as defined in Chapter 353; and WHEREAS, implementation of the Development Plan through the completion of the Redevelopment Project will remediate the conditions that cause the Redevelopment Area to be a blighted area; and WHEREAS, in accordance with Chapter 353 and Chapter 28, the City Council held a duly noticed public hearing regarding the blight designation, the proposed Development Plan and the contemplated grant of tax abatement on March 2, 2026, at which hearing all interested persons and taxing districts were given the opportunity to be heard (the "Public Hearing"); and WHEREAS, the City Council hereby finds and determines that it is desirable for the improvement of the economic welfare and development of the City to approve the Development Plan; and WHEREAS, the boundaries of the Redevelopment Area are the same as the boundaries of the proposed Cape West Plaza Community Improvement District (the "CID"); and WHEREAS, the Redevelopment Project is the subject of a Plan for an Industrial Development Project (the "Chapter 100 Plan"), which allows for a sales and use tax exemption on construction materials used to complete the Redevelopment Project; and WHEREAS, the City Council finds and determines that it is necessary and desirable in connection with the implementation of the Development Plan and the Chapter 100 Plan to enter into a Redevelopment Agreement (the "Redevelopment Agreement") with Drury AT 2024, LLC, Drury Land Development, Inc., Drury Development Corporation and the Cape West Plaza Redevelopment Corporation. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU, MISSOURI, AS FOLLOWS: Section 1. Findings. Upon due consideration of the Development Plan, the Blight Analysis and the testimony presented at the Public Hearing, the City Council finds that: (a) the redevelopment of the Redevelopment Area called for in the Development Plan is necessary or advisable to effectuate the purposes of Chapter 28; (b) the Development Plan is consistent with the master plan and/or comprehensive plan of the City; (c) there are or will soon be housing accommodations elsewhere available for all persons who will be displaced by the Redevelopment Project, and no undue hardship to such persons will be caused thereby (in fact, no businesses or residents will be displaced as a result of the Redevelopment Project); (d) public facilities, including, but not limited to, school, fire, water, sewer and police services, as well as transportation, parks, playgrounds and recreation facilities, are adequate or will be adequate to service the Redevelopment Area at the time that the Redevelopment Project is ready for use; (e) the proposed changes, if any, in the zoning ordinances or maps, in streets and street levels, and the proposed street closings or subdivisions, if any, are necessary or desirable for the redevelopment and its protection against blighting influences, and for the City as a whole (it being understood that no zoning, street or subdivision changes are necessary in connection with the implementation of the Development Plan); and (f) the Redevelopment Area described in the Development Plan is a "blighted area" as defined in Chapter 28 and Chapter 353, and the clearance, redevelopment, replanning, rehabilitation or reconstruction thereof is necessary and in the best interest of the City and its citizens. Section 2. Approval of Development Plan. The Development Plan materially conforms to the requirements for development plans set forth in Chapter 28 and is hereby approved. Section 3. Approval of Redevelopment Agreement. The City is hereby authorized to enter into the Redevelopment Agreement, in substantially the form of Exhibit B, attached hereto and incorporated herein by reference, with such changes therein as shall be approved by the officials of the City executing the Redevelopment Agreement and consistent with the intent hereof, such officials' signatures thereon being conclusive evidence of their approval thereof. The City Manager is hereby &Z authorized to execute the Redevelopment Agreement, for and on behalf of and as the act and deed of the City. The City Clerk is hereby authorized to attest to and affix the seal of the City to the Redevelopment Agreement. Following the execution of the Redevelopment Agreement by all parties thereto, the City Clerk is hereby directed, on behalf of the City Council, to furnish a copy of the Redevelopment Agreement to the Collector of Revenue of Cape Girardeau County. Section 4. Use of Redevelopment Area. The use of the Redevelopment Area shall be limited to the uses described in the Development Plan until the earlier of (a) the end of the 25 -year tax abatement period on each Parcel (as defined in the Redevelopment Agreement) or (b) the earlier expiration thereof as described in Section 5.1(i) of the Redevelopment Agreement. Section 5. Further Authority. The City shall, and the officials, agents and employees of the City are hereby authorized to, take such further action and execute such other documents, certificates and instruments as may be necessary or desirable to carry out and comply with the intent of this Ordinance and to carry out, comply with and perform the duties of the City with respect to the Development Plan and the Redevelopment Agreement. The City Manager is hereby authorized, through the term of the Redevelopment Agreement, to execute all documents on behalf of the City (including documents pertaining to the financing or refinancing of the Redevelopment Project by the Developer) as may be required to carry out and comply with the intent of this Ordinance and the Redevelopment Agreement. The City Manager is further authorized, on behalf of the City, to grant such consents, estoppels and waivers relating to the Redevelopment Agreement as may be requested during the term thereof, provided, such consents, estoppels and/or waivers shall not increase the amount or duration of the economic incentives provided in the Redevelopment Agreement, waive an event of default or materially change the nature of the transaction. The City Clerk is authorized to attest to and affix the seal of the City to any document authorized by this Section. Section 6. Severability. The sections of this Ordinance shall be severable. If any section of this Ordinance is found by a court of competent jurisdiction to be invalid, the remaining sections shall remain valid, unless the court finds that: (a) the valid sections are so essential to and inseparably connected with and dependent upon the void section that it cannot be presumed that the City Council has or would have enacted the valid sections without the void one; and (b) the valid sections, standing alone, are incomplete and are incapable of being executed in accordance with the legislative intent. Section 7. Effective Date. This Ordinance shall take effect and be in full force 10 days after its passage by the City Council. PASSED AND APPROVED THIS day of , 2026. Stacy Kinder, Mayor ATTEST: Courtney Davis, Deputy City Clerk BE EXHIBIT A DEVELOPMENT PLAN (On file in the office of the City Clerk) EXHIBIT B REDEVELOPMENT AGREEMENT (On file in the office of the City Clerk) DRUDRU®ELOPMENT CORPORATION CITY CAPE G I R A R D E A U Cape West Plaza Development Plan Submitted by: Cape West Plaza Redevelopment Corporation February 2026 1 DRIL RY DEVELOPMENT CORPORATION Table of Contents Introduction...................................................................................................................................3 Redevelopment Project Description..............................................................................................4 ProposedTax Abatement.............................................................................................................4 Urban Redevelopment Ordinance Development Plan Requirements...........................................5 Exhibits.........................................................................................................................................7 ra DRCRY DEVELOPMENT CORPORATION Introduction Prior to closing operations in 2019, Sears occupied a 142,610 square foot commercial building located at 330 Siemers Drive in Cape Girardeau, Missouri (the "City"). Adjacent to the former Sears is the Cape West Plaza Shopping Center, which includes a Target, located at 202 Siemers Drive, and the remaining in-line commercial retail tenants, located at 242 Siemers Drive. Pursuant to a triple net ground lease, a portion of 242 Siemers Drive is leased to a third -party entity operating a standalone quick serve restaurant, Sonic. The former Sears site and the Cape West Plaza Shopping Center—excluding the area occupied by Target and including the area occupied by Sonic—comprise approximately 20.25 acres across two contiguous legal parcels at 242 and 330 Siemers Drive in the City (collectively, the "Redevelopment Area" or the "Area")'. The Redevelopment Area is depicted in Exhibit A and legally described in Exhibit B. This Development Plan proposes that partial tax abatement be granted to Cape West Plaza Redevelopment Corporation (the "Corporation"), and its successors and assigns, under Chapter 353 of the Revised Statutes of Missouri ("Chapter 353"), to incentivize the redevelopment and the remediation of blighted area conditions currently existing in the Area. In 2010, the City adopted Ordinance No. 4167 (the "Urban Redevelopment Ordinance"). The Urban Redevelopment Ordinance provides that redevelopment corporations organized pursuant to Chapter 353 may submit development plans to the City seeking tax abatement incentives available under Chapter 353. This Development Plan has been submitted to the City by the Corporation to satisfy the requirements of the Urban Redevelopment Ordinance. Steadfast City Economic and Community Partners ("Steadfast City") conducted a blight study on the Redevelopment Area, which is included as Exhibit C. Remediation of blighted conditions in the Redevelopment Area is expected to begin shortly after approval of this Development Plan. Drury Development Corporation (the "Developer") proposes to make improvements to the parking lot, building fagade, and roof of Cape West Plaza at 242 Siemers Drive. Additionally, the Developer seeks to redevelop the adjacent property at 330 Siemers Drive into a multi -tenant space. No improvements—interior nor exterior— will be made to the Sonic property. However, improvements to 242 and 330 Siemers Drive are necessary for the continued successful and safe operation of the Sonic property, as that property depends on the conditions and infrastructure within the adjacent tax parcels. ' As noted above, a portion of 242 Siemers Drive is leased to a third -party entity operating a Sonic restaurant. The Sonic restaurant has a street address of 262 Siemers Drive. Because the third -party entity is required to pay all taxes and assessments with respect to the property at 262 Siemers Drive, the Cape Girardeau County Assessor has assigned the 262 Siemers Drive property its own tax parcel identification number, even though no separate legal parcel exists. 3 DRCRY DEVELOPMENT CORPORATION The revitalization outlined in this Development Plan addresses the predominant and persistent blighted conditions currently existing in the Area. However, the feasibility and ultimate success of the redevelopment activities are dependent on the availability of real property tax abatement, as described herein. Redevelopment Project Description Affiliate entities of the Developer own both legal parcels in the Area. 242 Siemers Drive has been owned by an affiliate of the Developer for more than 30 years, and before repurchasing 330 Siemers Drive on November 8, 2023, the property had been formerly owned by an affiliate of the Developer and sold on June 24, 2004. This Development Plan proposes exterior revitalization of the Cape West Plaza Shopping Center at 242 Siemers Drive and redevelopment of the adjacent 330 Siemers Drive property to convert the former Sears building into a multi -tenant commercial space (the "Redevelopment Project" or the "Project"). The Project does not include new construction; instead, it will repurpose the existing vacant Sears structure and implement exterior improvements at both addresses. Upon completion, the former Sears building will be considered a part of the Cape West Plaza. At the time of completion of this Development Plan, existing tenants at Cape West Plaza are expected to remain operational throughout the Project. Proposed Tax Abatement Pursuant to this Development Plan, and subject to a master redevelopment agreement (the "Development Agreement") to be entered into among the City, the Developer and the Corporation, the Redevelopment Area may be granted tax abatement on the following terms: • Each tax parcel's ad valorem real property taxes will be abated for 25 years after title to such tax parcel is transferred to the Corporation, • During the 2025 tax year, ad valorem real property taxes of $9,084.02 were paid with respect to the tax parcel at 262 Siemers Drive, ad valorem real property taxes of $94,151.05 were paid with respect to the tax parcel at 242 Siemers Drive and ad valorem real property taxes of $92,036.31 were paid with respect to the tax parcel at 330 Siemers Drive (each such amount being the "Base Taxes" with respect to each such tax parcel), • During years 1 — 10 in which a tax parcel is subject to abatement, the Developer will pay taxes measured by the value of the land on such tax parcel in the year prior to the acquisition thereof by the Corporation, plus a payment in lieu of tax ("PILOT") equal to the difference between such tax parcel's Base Taxes and the taxes measured by the value of the land, and • During years 11 — 25 in which a tax parcel is subject to abatement, the Developer will pay taxes measured by 50% of the property's then -current market value. 0 DRCRY DEVELOPMENT CORPORATION Each tax and PILOT payment will be divided pro rata among the taxing districts that levy ad valorem real property taxes on the respective tax parcel based on each taxing district's then -current levy rate. A tax impact statement demonstrating the fiscal impact of the proposed abatement on each applicable taxing district has been prepared and furnished to the applicable taxing districts in accordance with Chapter 353 and the Urban Redevelopment Ordinance. Urban Redevelopment Ordinance Development Plan Requirements a. Legal description. A legal description of the real property comprising the Redevelopment Area is set forth in Exhibit B to this Development Plan. b. Stages of Project. The Redevelopment Project will be developed in a single phase. The Developer has site control of both legal parcels in the proposed Redevelopment Area. Construction is expected to commence in 2026 with completion anticipated in quarter one 2027. c. Property to Be Demolished. A significant portion of the Sears structure is intended to remain, apart from the former Sears garden center and an estimated 30,492 square feet of building space that is expected to be demolished to accommodate tenant required loading docks. Demolition is expected to commence 2-3 months after approval of this Development Plan and last 2-3 months; thus, full demolition would be completed within 4-6 months of Project approval. d. Property Not to Be Demolished. All structures at 242 Siemers Drive in the Cape West Plaza in-line will remain, including the Sonic. e. Building Renovation. The Project includes the renovation of one existing structure, the 142,610 square foot, single -tenant former Sears building at 330 Siemers Drive into a multi -tenant 114,940 square foot retail building for up to six tenants. The construction scope of work includes, but is not limited to, a new exterior wall constructed due to the partial demolition described above, exterior fagade work and additional entrance vestibules, roof replacement, full environmental remediation of mold and bacteria growth, and demising walls with new electrical and HVAC. Construction is expected to last 12-14 months. The Project also includes building facade and roof improvements to the Cape West Plaza commercial building, but no interior renovations. f. New Construction. No new construction is expected within the Redevelopment Area. g. Open Space. Except as may be required by the City's zoning code (i.e., setbacks, etc.), this Development Plan does not require any portion of the 5 DRCRY DEVELOPMENT CORPORATION Redevelopment Area to be maintained as open space. h. Property for Public Agencies. No portions of the Redevelopment Area are expected to be sold, donated, exchanged or leased to any public agency. L Zoning Changes. No zoning changes are necessary or desired for implementation of this Development Plan. j. Subdivisions. No subdivision or re -subdivision of property is necessary or desired for implementation of this Development Plan. k. Street Changes. No changes to public streets are necessary or desired for the implementation of this Development Plan. I. Dwelling Accommodations. The Redevelopment Area does not currently include any residential dwelling accommodations, which will remain unchanged following its redevelopment. m. Housing and Business Relocation. Sears is vacant. Current tenants of the in-line shopping center include Buckle, Shoe Carnival, Petco, Staples, TJ Maxx, and Sonic. All are expected to remain during and after redevelopment. Therefore, no residents or businesses will be relocated. New tenant occupancy and lease up within the Cape West Plaza may occur following approval of this Development Plan; however, relocation is not driven by the implementation of this Development Plan. n. Proposed Housing. The Redevelopment Area will not include any residential development. o. Changes outside of Redevelopment Project Area. No changes outside of the Redevelopment Area are necessary or desired for the implementation of this Development Plan. p. Financing. The Project is estimated to cost $11,500,000 excluding original acquisition costs, all application and permit fees related to the Project, and tenant improvements. The Developer intends to use a combination of funds on hand and drawn from a letter of credit from US Bank. The letter of credit is described in Exhibit D. q. Management. The Corporation's activities with respect to the Redevelopment Project will be managed by the Developer or an affiliate thereof following the approval of this Development Plan. r. Eminent Domain. Eminent domain will not be used in connection with this Development Plan. 3-9 DIU RY DEVELOPMENT CORPORATION s. Other information. The City can expect significant benefits from the revitalization of the Redevelopment Area, including but not limited to: i. Clearance and remediation of the conditions that cause the Redevelopment Area to be a "Blighted Area" through the enhancement of building and landscape improvements. ii. Repositioning and revitalization of an outmoded, underutilized, unoccupied property within the City. iii. Creation of modern retail and commercial space to attract new businesses and generate jobs, stimulating economic activity in the City. iv. Leadership by an experienced developer with a strong track record in successful redevelopment projects. Exhibits Exhibit A Map of Redevelopment Area Exhibit B Legal Description of Redevelopment Area Exhibit C Blight Study Exhibit D Project Financing 7 DRIL RI' DEVELOPMENT CORPORATION Exhibit A Map of Redevelopment Areae — Redevelopment Area Boundary • - ,,�� — 242 Siemers Dr. • •••• 262 Siemers Dr. _ 330 Siemers Dr. h, t _ Other Parcels VA Wk I�A rat , ' rf o . .,. I The Redevelopment Area is comprised of two legal parcels located at 242 and 330 Siemers Drive in the City. Pursuant to a triple net ground lease, a portion of 242 Siemers Drive is leased to a third -party entity operating a Sonic restaurant. The Sonic restaurant has a street address of 262 Siemers Drive. Because the third -party entity is required to pay all taxes and assessments with respect to the property at 262 Siemers Drive, the Cape Girardeau County Assessor has assigned the 262 Siemers Drive property its own tax parcel identification number, even though no separate legal parcel exists. The map above shows the boundaries of the two legal parcels located as 242 and 330 Siemers Drive as well as the boundaries of the portion of 242 Siemers Drive that's occupied by Sonic. 8 DRUDRu®ELOPMENT CORPORATION Exhibit B Legal Description of Redevelopment Area THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY AND COUNTY OF CAPE GIRARDEAU, STATE OF MISSOURI, AND DESCRIBED AS FOLLOWS: ALL OF LOT TWO (2) OF CAPE WEST 12TH SUBDIVISION IN THE CITY AND COUNTY OF CAPE GIRARDEAU, MISSOURI, AS SHOWN BY PLAT FILED IN PLAT BOOK 22 AT PAGE 68. ALSO, PART OF LOT NO. 3 OF CAPE WEST SEVENTH SUBDIVISION AS SHOWN BY PLAT RECORDED IN PLAT BOOK NO. 18 AT PAGE NO. 65, DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHWEST CORNER OF LOT NO. 2 OF CAPE WEST 12TH SUBDIVISION AS SHOWN ON PLAT FILED IN BOOK 22, PAGE 68; THENCE N21 °45'00"W, 592.13' ALONG THE EASTERLY RIGHT OF WAY LINE OF SIEMERS DRIVE TO THE BEGINNING OF A CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 703.15 FEET AND A CENTRAL ANGLE OF 22029'23" AND A LENGTH OF 276.00 FEET IN A NORTHWESTERLY DIRECTION ALONG SAID CURVE, AND RIGHT OF WAY; TO A POINT AT THE NORTHWEST CORNER OF SAID LOT TWO (2) ON THE EAST RIGHT OF WAY LINE OF SIEMERS DRIVE; THENCE CONTINUING ALONG THE CURVE FOR 10.39' HAVING A RADIUS OF 703.15 FEET AND A CENTRAL ANGLE OF 00' 50'48"; THENCE CONTINUING ALONG SAID RIGHT OF WAY LINE THE FOLLOWING COURSES AND DISTANCES: N45 '05' 12"W, 156.61 FEET TO THE BEGINNING OF A CURVE CONCAVE TO THE NORTHEAST HAVING A RADIUS OF 660.00 FEET AND A CENTRAL ANGLE OF 23 ° 20' 12"; THENCE ALONG SAID CURVE IN A NORTHWESTERLY DIRECTION 268.82 FEET; THENCE N21' 45' 00"W, 97.69 FEET; THENCE S68'1 5' 00"W, 10.00 FEET; THENCE N21'45'00" W, 51.21 FEET TO THE SOUTHWEST CORNER OF LOT 3A OF CAPE WEST SEVENTH AS SHOWN BY PLAT RECORDED IN PLAT BOOK NO. 18 PAGE NO. 65; THENCE DEPARTING SAID RIGHT OF WAY LINE ALONG THE SOUTH LINE OF SAID LOT 3A THE FOLLOWING COURSES AND DISTANCES; N68 ° 15'00"E, 343.05 FEET; THENCE N21' 45' 00"W, 132.59' FEET; THENCE N68° 15'00"E, 210.00 FEET; THENCE S21* 45'00"E, 124.59 FEET; THENCE M DRUDRu®ELOPMENT CORPORATION N68° 15' 00" E, 170.50 FEET TO THE SOUTHEAST CORNER OF SAID LOT 3A OF CAPE WEST SEVENTH, SAID POINT ALSO BEING ON THE WEST RIGHT OF WAY LINE OF INTERSTATE 55; THENCE S21 °45' 00"E, 559.13' ALONG SAID WEST RIGHT OF WAY TO THE NORTHEAST CORNER OF SAID LOT TWO (2) OF CAPE WEST 12TH SUBDIVISION; THENCE S21 -45'00"E, 54.33 FEET; THENCE S68° 15'00" W, 40.00 FEET; THENCE S21- 45'00"E, 30.00 FEET; THENCE N68° 15'00"E, 40.00 FEET TO A POINT TO THE AFORESAID WESTERLY RIGHT OF WAY LINE OF ROUTE 55; THENCE ALONG SAID RIGHT OF WAY LINE THE FOLLOWING COURSES AND DISTANCES: S21°45' 00"E, 375.99 FEET; THENCE S 18. 53' 15"E, 100.12 FEET; THENCE S210 45' 00"E 313.36 FEET TO A POINT BEING THE SOUTHEAST CORNER OF THE AFOREMENTIONED LOT TWO OF CAPE WEST 12TH SUBDIVISION; THENCE S680 15'00"W, 535.00 FEET ALONG THE SOUTH LINE OF SAID LOT TWO TO THE SOUTHWEST CORNER OF LOT 2 OF CAPE WEST 12TH SUBDIVISION TO THE POINT OF BEGINNING, CONTAINING 20.217 ACRES. THE ABOVE DESCRIPTIONS ARE BASED ON: TITLE REPORT NUMBER 24219435 PREPARED BY CAPE GIRARDEAU COUNTY ABSTRACT & TITLE CO. INC., REVIEWED THROUGH NOVEMBER 6, 2024. THE TITLE REPORT AS THAT DESCRIBED IN FIRST AMERICAN TITLE INSURANCE COMPANY COMMITMENT NUMBER PNT4501 IMO WITH AN EFFECTIVE DATE OF AUGUST 1, 2023. 10 DRURY DEVELOPMENT � CORPORATION Exhibit C Blight Study (Remainder of this page intentionally left blank) Steadfast city Economic & Community Partners Analysis of Blighted Area Factors for 242 and 330 Siemers Drive City of Cape Girardeau, Missouri Prepared: February 2026 Table of Contents I. Introduction..............................................................................................................................3 A. Purpose of This Analysis................................................................................................3 B. Redevelopment Area Description & Background...........................................................3 II. Blight Qualification Analysis.................................................................................................3 A. Insanitary or Unsafe Conditions.....................................................................................4 B. Deterioration of Site Improvements................................................................................5 C. Conditions which Endanger Life or Property by Fire and Other Causes ........................6 D. Economic Liability...........................................................................................................8 III. Summary...............................................................................................................................10 Appendix A: Redevelopment Area Map Appendix B: Site Assessment Photos Appendix C: Secondary Site Assessment Photos Appendix D: Police Report: Case 25001559 Steadfast city Ec—mic& Community Partners Page 12 I. Introduction A. Purpose of This Analysis The purpose of this blight study analysis is to document the conditions found within a 20.25 -acre area, comprised of two legal parcels' in the City of Cape Girardeau, Missouri (the "City"). The parcels, as shown in Appendix A, are situated mid -block on the east side of Siemers Drive, between Lambert Drive to the north and Richmond Drive to the south (the "Redevelopment Area" or the "Area"). This report contains an analysis of how such conditions cause the Redevelopment Area to be a "blighted area" according to Section 67.1401.2(3), RSMO (the "CID Act"), and Section 353.020(2), RSMO (the "Chapter 353 Urban Redevelopment Corporations Law"), which cross-reference Section 99.805, RSMO, defining a "Blighted Area" as follows: "Blighted area". an area which, by reason of the predominance of insanitary or unsafe conditions, deterioration of site improvements, or the existence of conditions which endanger life or property by fire and other causes, or any combination of such factors, retards the provision of housing accommodations or constitutes an economic or social liability or a menace to the public health, safety, or welfare in its present condition and use (Section 99.805(1), RSMO). B. Redevelopment Area Description & Background The Redevelopment Area spans 20.25 acres and comprises two legal parcels located at 242 and 330 Siemers Drive, all within the City. The Redevelopment Area is bordered by Interstate 55 to the east, with commercial properties to the north, south, and west. The property at 242 Siemers Drive includes parking areas, drive aisles, a standalone quick serve Sonic restaurant (approximately 1,926 square feet), and a commercial strip mall consisting of seven units (approximately 108,950 square feet). Current tenants include TJ Maxx, Staples, Shoe Carnival, Petco, and Buckle. The remaining two spaces are vacant, previously occupied by Party City and Provider Plus Home Medical Equipment & Supplies. The buildings at 242 Siemers Drive were constructed between 1996 and 1998. The property at 330 Siemers Drive contains a parking area, drive aisles, loading docks, an outdoor enclosure previously occupied by the Sears' lawn and garden center, and an approximately 142,610 square foot vacant commercial building that was once occupied ' The Redevelopment Area is comprised of two legal parcels located at 242 and 330 Siemers Drive in the City. Pursuant to a triple net ground lease, a portion of 242 Siemers Drive is leased to a third -party entity operating a Sonic restaurant. The Sonic restaurant has a street address of 262 Siemers Drive. Because the third -party entity is required to pay all taxes and assessments with respect to the property at 262 Siemers Drive, the Cape Girardeau County Assessor has assigned the 262 Siemers Drive property its own tax parcel identification number, even though no separate legal parcel exists. Steadfast city Ec—mic& Community Partners Page 13 by a Sears Grand. Sears vacated the building in October 2019. Since then, only a portion of the building was briefly occupied by a Spirit Halloween retail store. The Redevelopment Area is accessible via four public right-of-way access points along Siemers Drive. II. Blight Qualification Analysis This section examines the conditions within the Redevelopment Area that demonstrate the Area is a "blighted area" as defined in the CID Act and Chapter 353 Urban Redevelopment Corporations Law as observed during an on-site assessment conducted by Steadfast City Economic & Community Partners on April 1, 2025. In addition, this section examines findings from a secondary on-site inspection completed on November 17, 2025, to confirm whether the conditions during the April 1, 2025, inspection have persisted, improved, or worsened. Photographic documentation of the observed conditions from both on-site inspections can be found in Appendix B and C. The secondary assessment found that previously identified deficiencies remain unchanged or have significantly worsened. Additionally, several new conditions were identified that contribute further to the Area's blighted area designation. This study provides a comprehensive analysis of the blight factors observed at 242 and 330 Siemers Drive, including those observed inside the vacant building at 330 Siemers Drive. ... insanitary or Unsafe Conditions A.1. Exterior Water Drainage At 330 Siemers Drive, the building downspouts fail to adequately disperse water runoff, causing erosion of the paved surface at the exit point. Additionally, stormwater runoff infrastructure at the southeast corner of 330 Siemers Drive is insufficient, leading to overflow, which has caused significant damage to the surrounding infrastructure. Both parcels exhibit water intrusion through cracks in the paved surfaces, with standing water present in areas. These conditions contribute to accelerated pavement deterioration, including cracking and pothole formation, which create safety hazards for both pedestrians and vehicles. Pedestrians are at an increased risk of slipping or falling on wet or slippery surfaces. A.2. Ground Erosion The overflow of stormwater and poor drainage at the southeast corner of 330 Siemers Drive have caused significant soil erosion, leading to the deterioration, failure and collapse of paved surfaces. This creates unsafe conditions and worsens the site's already inadequate runoff management. If left unaddressed, the erosion will continue to weaken Steadfast city Ec—mic& Community Partners Page 14 the surface, potentially leading to further collapse and increased safety risks for both vehicles and pedestrians. Ground erosion at the rear corner of the site has worsened since the initial assessment. The collapse of exterior pavement has expanded, with additional surface failure visible during the secondary inspection. Continued stormwater runoff is undermining the paved surfaces, increasing the risk of further collapse and creating heightened safety hazards. A.3. Mold and Bacteria Growth The exterior fagades of the commercial buildings in the Area show visible signs of mold or bacteria growth, including black stains on the front fagade of the multi -unit commercial building at 242 Siemers Drive. The vacant building at 330 Siemers Drive also shows signs of water intrusion and moisture along the entirety of its fagade, causing deterioration of the exterior paint and mortar joints, which results in further water infiltration. Inside 330 Siemers Drive, mold was observed in multiple locations due to water intrusion through the concrete block fagade and roof leaks. Despite property management's efforts to regulate interior climate using the remaining functional HVAC units (9 operational furnaces out of more than 20), the follow-up assessment revealed extreme and widespread progression of mold throughout the former Sears building. Mold now affects nearly all interior walls, ceilings, and building materials. The severity of growth far exceeds observations from the initial on-site inspection, resulting in an environmentally unsafe structure that is not suitable for occupancy. A.4. Roof Leaks and Standing Water Water damage from roof leaks was observed throughout 330 Siemers Drive, with standing water and damp areas noted throughout the building. Deterioration of building materials, rust, discoloration, and the presence of mold were all linked to these leaks. Property management staff confirmed at least 12 significant roof leak locations throughout the building. These roof leaks continue to contribute to water intrusion and material deterioration inside the former Sears building. Standing water, damp surfaces, discoloration, and widespread mold formation were documented again during the secondary inspection, demonstrating ongoing deterioration tied to an unaddressed roof system failure. A.5. Rusted and Deteriorating Metal Rusted doors, metal utility enclosures, and deteriorated building components observed during the first assessment have mostly remained unchanged. Some exterior doors at the strip center, previously exhibiting rust and peeling paint, have been repainted since the initial inspection. However, rust remains prevalent across interior metal components, and corrosion continues to contribute to unsafe building conditions. A.6. New Condition: Failure of Alarm System During the secondary inspection, the property manager reported that the alarm system serving the former Sears building is nonfunctional and has reached end -of -life. The ReadFast city Economic& Community Partners P a g e 15 system can no longer be repaired and requires full replacement. This condition adds an additional life -safety concern for an already unsecured and deteriorated structure. B. Deterioration of Site Improvements Deterioration of site improvements is evidenced in various ways, ranging from minor defects to significant issues. Minor defects include peeling paint, missing ceiling or floor tiles, and small cracks in walls or ceilings. More serious deterioration is evident in primary building components, such as exterior walls, foundations, floors, roofs, and essential items like wiring and utility systems, where the issues cannot be resolved through regular maintenance. Secondary building components, including interior walls, doors, windows, gutters, fascia, and siding also show signs of damage and wear. Additionally, deterioration is seen in supporting site improvements such as sidewalks, parking areas, paved surfaces, roads, curbs, and other infrastructure. B.1. Exterior Infrastructure Widespread deterioration of paved surfaces, including parking lots, drive aisles, pedestrian pathways and curbing, is evident throughout the Area. Many of these surfaces require patching, sealing, curb repairs, and resurfacing for proper functionality and safety. In several locations, this deterioration of paved surface is attributed to inadequate storm water runoff management. For example, at the southeast corner of 330 Siemers Drive, runoff has caused significant ground erosion, resulting in the collapse of fencing and paved surfaces. Minor site cleanup efforts were observed. Litter and debris previously identified behind the former Party City have been removed, and a temporary concrete patch has been applied to the deteriorated pedestrian walkway along the former Party City frontage. Despite these limited improvements, widespread deterioration of pavement, curbing, and pedestrian surfaces persists. The worsening pavement collapse at the rear corner further demonstrates ongoing deterioration beyond what routine maintenance can address. Damage to exterior infrastructure also includes impact related damage from vehicles to light poles and a support column for the Cape West Plaza pylon signage. Separately, the large pylon sign formerly used for Sears Grand and visible from Interstate 55 is inoperable. B.2. Exterior Building Conditions The exterior of 330 Siemers Drive shows cracks and moisture infiltration throughout the facade, leading to peeling paint. Exterior doors and utility enclosures across the Area show varying degrees of damage, including rust and peeling paint. The southwest awning on 330 Siemers Drive has been removed by the previous owner, leaving the structure exposed to the elements. Other exterior issues include missing backup bumpers and ReadFast city Economic& Community Partners Page 16 lights at loading bay docks. These conditions create vulnerabilities that need attention to prevent further damage and improve the building's appearance. During the secondary inspection, it was noted that most exterior building deficiencies remain unchanged. Cracks, moisture infiltration, peeling paint, and fagade deterioration continue to be present at levels similar to or worse than the initial assessment. Although several rear exterior doors at the strip center have been freshly repainted, this isolated improvement does not materially alter the broader pattern of deterioration. B.3. Interior Building Conditions Interior building conditions were assessed only for the vacant building at 330 Siemers Drive, revealing various signs of deterioration. Most areas within the vacant building showed damage and wear to secondary building components, including flooring, ceilings, and walls, consistent with prolonged use. Additionally, significant water intrusion and ceiling leaks have led to staining, cracking, standing water, visible moisture, mold, and rust throughout the building, causing damage to interior walls and other surfaces. Several loading docks are non-functional and uneven, rendering them unusable. These uneven docks also create openings, exposing the building to the elements and providing an access point for unauthorized entry. As shown in Appendix B, the current owner has temporarily blocked these openings to prevent trespassing. Further damage was noted from a previous water pipe burst, caused by freezing in a bathroom located in the building's southwest corner. The former Sears Auto Center has several garage doors that are either faulty or broken, requiring padlocks to secure the building and prevent unauthorized access. Lastly, a separation was observed between two layers of a concrete block wall near the interior rooftop access point. During the secondary inspection, interior conditions have substantially worsened, with severe mold growth affecting nearly all interior spaces. Water damage, staining, and structural material deterioration have progressed. These conditions now pose heightened risks to building integrity and occupant health. The building's interior is currently unsafe for entry without personal protective equipment, as evidenced by the extreme mold conditions observed during the inspection. v,. conditions Which Endang, wife or Property by Fire and Other Causes C.1. Obsolete HVAC System ReadFast city Economic& Community Partners Page 17 The HVAC system at 330 Siemers Drive is outdated and unsuitable for future occupancy. HVAC system degradation has worsened since the initial inspection; of more than 20 units, only 9 furnaces remain operational, leaving the majority of the building uncontrolled from an environmental standpoint. The inability to regulate humidity and temperature has directly contributed to the accelerated mold growth and worsening interior deterioration. This situation necessitates the replacement of the HVAC units to mitigate risks associated with poor air quality and temperature control. Without proper climate regulation, the building faces increased risk of deterioration and occupant health issues. C.2. Fire Safety The vacant building at 330 Siemers Drive poses an enhanced fire risk due to a malfunctioning dry fire suppression system in the lawn and garden area. The system requires the replacement of a master control valve. Additionally, vacant properties are at higher risk of fire, particularly from arson. A study by the National Fire Protection Association found that vacant properties account for a disproportionate share of fires, with arson responsible for 43% of these incidents, posing substantial risks to property and public safety (NFPA, 2020). The inoperable fire suppression system exacerbates this threat. As confirmed by the property manager, the building's alarm system is no longer functioning. This represents a new and serious safety concern that was not present in the initial assessment, as a nonfunctional alarm system increases fire risk in an already compromised structure and limits the property's ability to detect or respond to emergencies. C.3. Trespassing and Illicit Activity Evidence of trespassing and illicit activity was found throughout the Area, including in areas not easily visible to the public. These activities include reckless driving, as indicated by tire marks on parking lot surfaces. Other signs of illicit behavior, such as vandalism, were evidenced by scattered litter, graffiti, and intentional damage to buildings and infrastructure. Additionally, property management staff and ownership reported persistent issues with squatters, illegal trespassing, and vandalism, which have required frequent repairs and the removal of abandoned belongings from the site, including a vehicle that had remained on the property for several years. Most recently, an incident report was filed with the City of Cape Girardeau Police Department after the front glass doors of the former Sears building were shattered. According to the responding officer, it appeared the glass had been "shot out." The incident report and images of the damage are included as Appendix D. CA. Exterior Lighting Lighting throughout the Area should be significantly improved by replacing existing fixtures with energy-efficient LED lights. Currently, inadequate lighting contributes to an environment that encourages and conceals illicit activities within the Area. The lack of ReadFast city Economic& Community Partners P a g e 18 exterior lighting also heightens safety risks and impedes the ability of security or law enforcement to effectively address or deter criminal activity. Furthermore, the previous owner of 330 Siemers Drive removed all lighting fixtures from the southwest entrance awning, creating hazardous conditions for accessing the site through this entrance if it were to be used in its current state. D. Economic Liability The Redevelopment Area has failed to increase in assessed value when compared to the Citywide commercial assessed value over the last 10 years, demonstrating a predominance of economic liability in the Area. Since 2016, the Area increased in assessed value by an average of 3.64%, while the City's total assessed value increased by nearly 40%. This discrepancy signifies a critical issue for the City's economic health. Properties that do not appreciate consistently with the broader market can stagnate growth and deter investment. When property values remain stagnant, it often indicates issues such as inadequate infrastructure or lack of amenities, which can deter new businesses and residents. Steadfast City Economic & Community Partners prepared Table D.1 using publicly available information from the Cape Girardeau County Taxing Districts Tax Books. As shown in Table D.1, both parcels have experienced consistent stagnant growth and only slightly increased in valuation over the last 10 years. Since 2016, 330 Siemers Drive has only increased 3.37% and 242 Siemers Drive has increased by 3.90% for an average of 3.64% increase in the Area. Table DA �.Assessed 330 Siemers Dr 242 ValuatioMML Siemers Dr , I 2025 $ 1,721,270 5% $ 1,760,820 5% 2024 $ 1,639,000 0% $ 1,676,970 0% 2023 $ 1,639,000 8% $ 1,676,970 9% 2022 $ 1,510,880 0% $ 1,545,590 0% 2021 $ 1,510,880 -9% $ 1,545,590 0% 2020 $ 1,665,100 0% $ 1,545,590 0% 2019 $ 1,665,100 0% $ 1,545,590 0% 2018 $ 1,665,100 0% $ 1,545,590 -9% 2017 $ 1,665,100 0% $ 1,694,720 0% 2016 $ 1,665,100 $ 1,694,720 Table D.2 summarizes Cape Girardeau citywide and Cape Girardeau countywide total commercial valuation data from the Cape Girardeau County Taxing Districts Tax Books from 2016 through 2025. Since 2016, citywide commercial valuation increased 40% while countywide valuation increased 46%. In contrast, the proposed Redevelopment Area ReadFast city Economic& Community Partners Page 19 properties increased in assessed valuation by only 3.64%, demonstrating an economic liability by not keeping pace with the City and County. Table D.2 As property taxes constitute the largest proportion of the City's budget, funding essential public services and infrastructure improvements, an area with static values represents a missed opportunity for increased fiscal resources. This stagnation can strain the City's budget and limit its ability to invest in other critical areas, potentially leading to a cycle of underdevelopment and economic decline. Addressing these issues will require targeted interventions to stimulate growth and attract investment, ensuring that the Area can contribute positively to the City's future development. ReadFast city Economic& Community Partners P a g e 110 $ 418,482,460 6.42% 2025 $ 281,619,890 5.64% 2024 $ 266,583,310 4.74% $ 393,226,300 4.42% 2023 $ 254,517,370 8.03% $ 376,594,400 4.35% 2022 $ 235,599,100 4.94% $ 360,881,640 5.55% 2021 $ 224,512,600 3.29% $ 341,919,670 3.32% 2020 $ 217,371,340 -0.04% $ 330,939,600 0.40% 2019 $ 217,450,470 1.15% $ 329,636,790 -1.73% 2018 $ 214,979,240 2.06% $ 335,424,910 8.92% 2017 $ 210,646,780 4.67% $ 307,959,000 7.45% 2016 $ 201,243,360 $ 286,600,720 As property taxes constitute the largest proportion of the City's budget, funding essential public services and infrastructure improvements, an area with static values represents a missed opportunity for increased fiscal resources. This stagnation can strain the City's budget and limit its ability to invest in other critical areas, potentially leading to a cycle of underdevelopment and economic decline. Addressing these issues will require targeted interventions to stimulate growth and attract investment, ensuring that the Area can contribute positively to the City's future development. ReadFast city Economic& Community Partners P a g e 110 III. Summary The blight study analysis conducted for the Area documents conditions that qualify the site as a "blighted area" under the CID Act and Chapter 353 Urban Redevelopment Corporations Law. The parcels proposed for remediation, two out of the three parcels, 242 and 330 Siemers Drive, exhibit physical and economic factors that constitute an economic and social liability, as well as a menace to public health, safety, and welfare in its present condition and use. The analysis identified extensive deterioration of site improvements, insanitary and unsafe conditions, fire hazards, and economic stagnation, all of which negatively impact the broader community. A secondary site inspection confirmed that these conditions have persisted, and in several areas, have worsened. The improvements to 242 and 330 Siemers Drive are necessary for the continued successful and safe operation of 262 Siemers Drive, as the Sonic depends on the conditions and infrastructure within the adjacent properties. Significant infrastructure issues, including failing stormwater management systems, poor drainage, and erosion, have led to hazardous walking and driving conditions. Water intrusion through cracked pavement and building fagades has accelerated the deterioration of sidewalks, parking lots, and structural components. The presence of mold or bacteria, both inside and outside the buildings, pose health risks for occupants and surrounding properties. The vacant building at 330 Siemers Drive suffers continued water damage, with widespread roof leaks, rusted fire suppression sprinkler heads, and deteriorated interior materials. The follow-up assessment identified extreme progression of mold growth throughout the former Sears building, indicating substantial worsening of interior conditions since the initial inspection. Additionally, exterior infrastructure, such as curbing, light poles, and fencing, shows decay, while litter and graffiti contribute to an environment of neglect. Minor improvements—such as debris removal and repainting of several exterior doors—were observed, but do not materially change the overall condition of the site. The site also presents fire and public safety concerns. The HVAC system at 330 Siemers Drive is largely non-functional, and its dry fire suppression system in the former lawn and garden area is inoperable, increasing fire risk. Vacant buildings are prone to arson and crime, and the lack of an effective fire safety system enhances this threat. During the secondary inspection, property management also reported failure of the building's alarm system, which has reached end -of -life and is no longer operational. Trespassing, vandalism, reckless driving, and other illicit activities continue to occur throughout the Area, which discourages business and investment. Inadequate lighting further enables these unsafe conditions by reducing visibility and hindering security enforcement. Beyond physical deterioration and safety risks, the Area represents an economic liability. Property values within the Area have only increased by an average of 3.64% over the past decade while the City experienced a 40% increase in assessed value. This lack of %1 SLeadFasLYcity Page 111 appreciation limits tax revenue and restricts the City's ability to fund essential services and infrastructure improvements. Without intervention, the Area will continue to contribute minimally to the City's economic health, missing opportunities for revitalization and growth. In conclusion, the Area meets the statutory definition of a "blighted area" due to the combination of insanitary and unsafe conditions, deterioration of site improvements, and economic liability. The secondary inspection reaffirms the persistence of these issues, with several conditions demonstrating notable deterioration since the initial visit. These factors not only hinder redevelopment efforts but also pose a direct threat to the public health, safety, and welfare. Addressing these issues is critical to reversing the Area's decline, mitigating risks, and creating an environment conducive to investment and community well-being. ReadFast city Economic& Community Partners P a g e 112 Appendix A Redevelopment Area Map2 sr, r z The Redevelopment Area is comprised of two legal parcels located at 242 and 330 Siemers Drive in the City. Pursuant to a triple net ground lease, a portion of 242 Siemers Drive is leased to a third -party entity operating a Sonic restaurant. The Sonic restaurant has a street address of 262 Siemers Drive. Because the third -party entity is required to pay all taxes and assessments with respect to the property at 262 Siemers Drive, the Cape Girardeau County Assessor has assigned the 262 Siemers Drive property its own tax parcel identification number, even though no separate legal parcel exists. ReadFast city Economic& Community Partners Page 113 Appendix B Site Assessment Photos 242 Siemers Drive: Exterior Deterioration of paved surface. ffiw� 3. "10 - ReaclFast city Economic& Community Partners Page 114 !tom SteaclFast city Economic& Community Partners P a g e 115 Deterioration of pedestrian pathways. Deterioration of pedestrian pathways and exterior building column. 1 ReadFast city Economic& Community Partners Page 116 Missing drain covers. Damage to column and mail container. !tom ReadFast city Economic& Community Partners Page 117 Examples of deterioration and damage found on light poles throughout the site. :41 IL All Inadequate lighting. Presence of mold and/or bacteria build-up on building fagade and other exterior components. M � OP n Steadfast city Ec—mic& Community Partners Page 118 !tom SteaclFast city Economic& Community Partners P a g e 119 Damage and deterioration to utility enclosure, exterior door, and waste enclosure 330 Siemers Drive: Site Exterior Evidence of reckless driving in parking areas and faded road paint needed to delineate parking spaces, drive lanes, parking areas, fire lanes, etc. ReadFast city Economic& Community Partners Page 120 Worn parking area and exterior fagade with remaining evidence of signage from past occupant. "No Trespassing" signs posted due to ongoing issues with trespassing and loitering. C t I ll� I L Damage to columns and graffiti. Aw Failure and collapse of parking area surface intended for drainage of water runoff. r� 4 'a �Al � t k ReadFast city Economic& Community Partners Page l 21 Damage to drainage area fencing and missing drain cover. 330 Siemers Drive: Building Exterior Deteriorating entrance pathways and rust on fire suppression system sprinklers. Separation of fagade from below surface and rusted pipes on building rooftop. r ReadFast city Economic& Community Partners P a g e 122 Damage to loading bay and rust on utility enclosure Rust and graffiti on exterior doors. Paint on pavement and building exterior due to vandalism. : Cracks in building fapade and vegetation growth. Deterioration of pavement below drain spouts due to poor management of water runoff. ReadFast city Economic& Community Partners P a g e 123 Moisture in building fagade, stains, and deteriorating paint. Missing roof canopy ceiling and lighting. 1 Stead Fast city Economic & Community Partners Page 124 330 Siemers Drive: Building Interior Separation in block wall and image of garage doors with faulty lock mechanisms. Uneven and inoperable loading bays that require additional materials to close gaps to exterior. ReadFasL city Page 125 Example of deterioration found throughout building interior flooring and fixtures. Damage to interior walls and paint from water infiltration. UNINEK'"" ReadFast city Economic& Community Partners Page 126 Mold and other damage from water infiltration through fagade and roof leaks. ReadFasL city Page 127 Damage from water infiltration through fagade and roof leaks. t r ReadFast city Economic & Community Partners Page 128 Damage from water infiltration. Damage in bathroom from water pipe burst. IL i� ReadFast city Economic& Community Partners P a g e 129 Damage from roof leaks. Evidence of standing water and moisture build-up in building. ReadFast city Economic& Community Partners Page 130 Appendix C Secondary Site Assessment Photos 11/17/2025 242 Siemers Drive: Exterior Advanced deterioration of paved surface. Continued deterioration of pedestrian pathways. !tom ReaclFast city Economic& Community Partners P a g e 131 Fr��II�A1� Deterioration of exterior building column with increased presence of mold on the building facade. ReadFast city Economic& Community Partners P a g e 132 Hazardous missing drain covers with worsening pavement. 330 Siemers Drive: Site Exterior Evidence of reckless driving is still prevalent in parking areas with faded road paint. Worsening collapse of parking area surface intended for drainage of water runoff. Stead Fast city Economic & Community Partners Page 133 330 Siemers Drive: Building Exterior Continued deterioration of entrance pathways and missing lighting. Moisture continuing to seep into building fagade, stains, and deteriorating paint t Evidence of poor management of water runoff with pavement damage worsening. � I � 7117 UR — ro- �- aM'tr- ReadFast city Economic& Community Partners Page 134 330 Siemers Drive: Building Interior Examples of prevalent and worsening deterioration found throughout building interior from mold and other damage caused by water infiltration. M- !4 S Fast city Economic & Community Partners Page 135 Additional/spreading damage to interior walls and paint from water infiltration. a. ReadFast city Economic& Community Partners Page 136 Evidence of continued and prolonged standing water and moisture build-up in building. !tom ReadFast city Economic& Community Partners Page 137 Appendix D Police Report: Case 25001559 Supporting images to official police report found on next page. ReadFast city Economic& Community Partners Page 138 CITY of CAPE GIRARDEAU Y JD I.Mw Lunn L11. LV tau Um.M 63/UI 513 3] E 1 I d 513 Jbu.ltil fw cftok e.a9Vr . POLICE DEPARTMENT Case 25001559 Printed on April 17, 2025 Status Approved Report Type Incident Primary Officer Madison Kirn Investigator None Reported At 04/10/25 09:17 Incident Date 04/10/25 09:17 Incident Code PROD: PROPERTY DAMAGE Location 330 SIEMERS DR. CAPE GIRARDEAU Zone C2 Beat Rover Disposition Inactive Disposition Date Time 04/10/25 10:07 Review for Gang Activity None Offense Information MO 63701 (SPIRIT Offense PROPERTY DAMAGE 1ST DEGREE Statute 569.100-001 NIBRS Code 290 - Destruction/Damage/Vandalism of Property Counts 1 Include In NIBRS Yes Completed Yes Bias Motivation None (no bias) Location Department/Discount Store Entry Forced No Victim MA Other 569.100-001 - PROPERTY DAMAGE 1ST DEGREE Case 25001559 Page 1 of 2 MA Primary Narrative By Madison Kirn Reporting Party: 569.100-001 - PROPERTY DAMAGE 1 ST DEGREE On Thursday. April 10. 2025. at approximately 0930 hours. I. Patrolman Kim. DSN 398. responded to 330 Siemers Dr.. at the old Sears building, for a property damage report. Upon arrival. I made contact with the Drury Land Development Facility Engineer. TROY MATLOCK. Matlock advised (2) of the front door windows were damaged sometimes between the hours of 1600 hours (4/9/225) and 0900 hours (4/10/25). 1 observed (2) windows shattered and they appeared to have been shot out due to the look of the glass damage and a small hole in each window. It is unknown at this time what was used to break the glass at this time due to no cameras in the area or other evidence. Matlock advised it would be approximately $1.000.00/each to fix the doors. ($2,000.00 total damage). Due to lack of evidence and witnesses. this case will be inactivated. A bulletin will be created for extra patrol to look for trespassers. Nothing further. Case 25001559 Page 2 of 2 DRUDRU®ELOPMENT CORPORATION Exhibit D Project Financing (Remainder of this page intentionally left blank) PROJECT FINANCING COMMITMENT Cape West Plaza Development Plan - Project Financing Letter January 14, 2026 Drury Development Corporation 13075 Manchester Road, Suite 200 St. Louis, MO 63131 Attn: Anthony C. Right, SVP and CFO To whom it may concern: You currently have availability under your operating line of credit with our bank to fund the $21 million of additional expenditures required to complete the redevelopment of Cape West Plaza in Cape Girardeau, Missouri, including the conversion of the former Sears Grand into a multi -tenant commercial space. Those funds are available to draw at any time and require no future approval. 1 understand, however, that your plans for redevelopment of Cape West Plaza are contingent upon securing sufficient tax incentives from the City of Cape Girardeau to make the project economically feasible. Should you have any questions, please do not hesitate to reach out. iks, ewandowski Senior Vice President- Commercial Real Estate U.S. Bank National Association 1 North Brentwood Blvd, Suite 1400 St. Louis, MO 63105 ----------------------------------------------------------------------- (The above space is reserved for Recorder's Certification.) TITLE OF DOCUMENT: DATE OF DOCUMENT: GRANTOR: GRANTOR'S MAILING ADDRESS GRANTEES: GRANTEES' MAILING ADDRESS RETURN DOCUMENTS TO REDEVELOPMENT AGREEMENT [*Document Date*] CITY OF CAPE GIRARDEAU, MISSOURI 44 North Lorimier Cape Girardeau, Missouri 63701 DRURY AT 2024, LLC DRURY LAND DEVELOPMENT, INC. 13075 Manchester Road, Suite 200 St. Louis, Missouri 63131 Gilmore & Bell, P.C. 211 North Broadway, Suite 2000 St. Louis, Missouri 63102 Attention: Mark D. Grimm, Esq. LEGAL DESCRIPTION: See Exhibit A REDEVELOPMENT AGREEMENT among the CITY OF CAPE GIRARDEAU, MISSOURI, DRURY AT 2024, LLC, DRURY LAND DEVELOPMENT, INC., DRURY DEVELOPMENT CORPORATION and CAPE WEST PLAZA REDEVELOPMENT CORPORATION dated as of [*Document Date*] TABLE OF CONTENTS Page Recitals............................................................................................................................... 1 ARTICLE I DEFINITIONS 1.1. Definitions....................................................................................................................................... 2 ARTICLE II DEVELOPER DESIGNATION; DEVELOPER TO ADVANCE COSTS 2.1. Developer Designation..................................................................................................................... 6 2.2. Developer to Advance Costs............................................................................................................ 6 ARTICLE III MANNER OF REDEVELOPMENT 3.1. Project Development........................................................................................................................ 6 3.2. Project Construction......................................................................................................................... 7 3.3. Construction Contracts..................................................................................................................... 7 3.4. Competitive Bids; Prevailing Wage; Federal Work Authorization................................................. 8 3.5. Governmental Approvals................................................................................................................. 8 3.6. Excusable Delay.............................................................................................................................. 8 3.7. Completion Certificates................................................................................................................... 9 3.8. Property Maintenance; Compliance with Applicable Laws............................................................. 9 ARTICLE IV REIMBURSEMENT OF REIMBURSABLE DISTRICT PROJECT COSTS; PROJECT OBLIGATIONS 4.1. Reimbursement of Reimbursable District Project Costs.................................................................. 9 4.2. Project Notes..................................................................................................................................10 4.3. Project Bonds................................................................................................................................. 11 4.4. Cooperation in the Issuance of Project Obligations....................................................................... 11 4.5. City to Select Bond Counsel, Underwriter and Consultants; Term and Interest Rate ...................11 4.6. Project Bonds, CID Special Assessment and Chapter 353 Abatement .......................................... l l ARTICLE V DEVELOPMENT INCENTIVES 5.1. Real Property Tax Abatement; Taxes and Payments in Lieu of Taxes .......................................... 12 5.2. Sales Tax Exemption on Construction Materials...........................................................................14 5.3. Community Improvement District.................................................................................................14 -i- 5.4. Public Participation........................................................................................................................ 15 ARTICLE VI GENERAL PROVISIONS 6.1. Developer's Right of Termination................................................................................................. 16 6.2. City's Right of Termination........................................................................................................... 16 6.3. Results of Termination...................................................................................................................16 22 6.4. Successors and Assigns; Transfers of Property .............................................................................16 23 6.5. Remedies........................................................................................................................................17 6.6. Notices...........................................................................................................................................17 6.7. Insurance Requirements.................................................................................................................18 6.8. Release and Indemnification..........................................................................................................19 6.9. Choice of Law; Conflicts............................................................................................................... 20 6.10. Counterparts...................................................................................................................................20 6.11. Severability.................................................................................................................................... 20 6.12. No Waiver of Sovereign Immunity................................................................................................20 6.13. No Third -Party Beneficiaries.........................................................................................................20 6.14. Conflict of Interest......................................................................................................................... 20 6.15. Further Authority........................................................................................................................... 21 6.16. Project Data....................................................................................................................................21 6.17. Term of Agreement........................................................................................................................ 21 ARTICLE VII REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE PARTIES 7.1. Representations by the City........................................................................................................... 21 7.2. Representations by Drury AT........................................................................................................ 22 7.3. Representations by Drury Land..................................................................................................... 22 7.4. Representations by the Developer................................................................................................. 23 7.5. Representations by the Redevelopment Corporation.....................................................................24 Signatures........................................................................................................................ S-1 EXHIBIT A — Legal Description of Redevelopment Area EXHIBIT B — Depiction of Redevelopment Project/Concept Site Plan EXHIBIT C — Form of Federal Work Authorization Program Affidavit EXHIBIT D — Form of Certificate of Reimbursable District Project Costs EXHIBIT E — Form of Completion Certificate EXHIBIT F — Form of Cooperation Agreement EXHIBIT G — Estimated Project Budget and Reimbursable District Project Costs REDEVELOPMENT AGREEMENT THIS REDEVELOPMENT AGREEMENT (as from time to time modified, amended or supplemented, this Agreement") is made and entered into as of [*Document Date*], by and among the CITY OF CAPE GIRARDEAU, MISSOURI, a home rule city and political subdivision organized and existing under the laws of the State of Missouri (the "City "), DRURY AT 2024, LLC, a Missouri limited liability company (together with its successors and assigns, Drury AT"), DRURY LAND DEVELOPMENT, INC., a Missouri corporation (together with its successors and assigns, "Drury Land" and, collectively with Drury AT, the "Fee Owners"), DRURY DEVELOPMENT CORPORATION, a Missouri corporation (the "Developer"), and CAPE WEST PLAZA REDEVELOPMENT CORPORATION, a Missouri redevelopment corporation (together with its successors and assigns, the "Redevelopment Corporation " and, collectively with the City, the Fee Owners and the Developer, the "Parties "). RECITALS A. The Corporation has submitted the "Cape West Plaza Development Plan" (as from time to time modified, amended or supplemented, the "Development Plan ") concerning an approximately 20.25 - acre area located at 242 and 330 Siemers Drive (as more particularly described on Exhibit A attached hereto and incorporated herein by reference, the "Redevelopment Area"). The Development Plan was prepared in accordance with (1) Chapter 353 of the Revised Statutes of Missouri ( "Chapter 353 ") and (2) Chapter 28 of the City Code of Ordinances ( "Chapter 28 "). B. The Redevelopment Corporation has proposed, and the Development Plan contemplates, that the Redevelopment Area will be redeveloped by the Developer for retail and other commercial uses (collectively and as further described herein and in the Development Plan, the "Redevelopment Project"). C. On February 13, 2026, the Fee Owners filed a petition with the City to establish the Cape West Plaza Community Improvement District (the "CID ") encompassing the Redevelopment Area to assist in financing and implementing the Redevelopment Project. On February 25, 2026, the Fee Owners filed an Amended and Restated Petition to establish the Cape West Plaza CID. D. On March 2, 2026, the City Council held duly -noticed public hearings concerning (1) the establishment of the CID in accordance with the requirements of the CID Act (as hereafter defined) and (2) the approval of the Development Plan in accordance with the requirements of Chapter 353 and Chapter 28. E. On March 16, 2026, the City Council adopted (1) Ordinance No. approving the Development Plan and authorizing the execution of this Agreement and (2) Ordinance No. establishing the CID. F. The Parties desire to enter into this Agreement to set forth the terms upon which the Redevelopment Project will be completed, including the provision of certain economic development incentives in connection therewith. AGREEMENT NOW, THEREFORE, in consideration of the premises and mutual promises contained herein and other good and valuable consideration, the adequacy and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows: ARTICLE I DEFINITIONS 1.1. Definitions. In addition to any words and terms defined elsewhere in this Agreement, the following words and terms as used in this Agreement shall have the following meanings, unless some other meaning is plainly intended: "Abatement Initiation Year" means the calendar year in which the Redevelopment Corporation obtains fee title to a Lot, unless the Developer sends a written request to the City and the Assessor stating the Developer's desire for the Abatement Initiation Year to begin in the year following the calendar year in which the Redevelopment Corporation obtains fee title to such Lot and the City and the Assessor agree to such request. "Actual Abatement Amount" means, with respect to any Lot in any calendar year, the difference between (a) the ad valorem real property taxes that would have otherwise been due and payable on such Lot during such year, but for the limited tax abatement provided by Section 5.1, and (b) the sum of all Unabated Taxes and/or PILOTs paid during such year pursuant to Section 5.1. "Annual Special Assessment Schedule" means, with respect to any Lot in any calendar year, the basis for determining the maximum annual installment of the CID Special Assessment to be levied against such Lot for such year, as set forth on Schedule I to Exhibit C to the petition to establish the CID, as such petition may be amended from time to time if such annual installment set forth on Schedule I exceeds the Actual Abatement Amount. "Approved Site Plan " means the site development plan or plans reflecting one or more portions of the Redevelopment Project approved by all entities required to approve a site plan pursuant to the City Code, as such site plan or site plans may be submitted, approved and amended from time to time in accordance with the City Code. "Assessor" means the Assessor of Cape Girardeau County. "Base Taxes" means (1) with respect to Parcel Number 20-309-00-02-004.00-0000 (330 Siemers Drive), $92,036.31, (2) with respect to Parcel Number 20-309-00-02-004.00-2000 (242 Siemers Drive), $94,151.05 and (3) with respect to Parcel Number 20-309-00-02-004.00-2001 (262 Siemers Drive), $9,084.02. "Bond Counsel" means Gilmore & Bell, P.C., St. Louis, Missouri, or another attorney at law or a firm of attorneys selected by the City of nationally recognized standing in matters pertaining to the tax- exempt nature of interest on obligations issued by states and their political subdivisions, duly admitted to the practice of law in the State of Missouri. "Bond Proceeds " means the net cash proceeds from the sale of Project Bonds available for deposit in the Project Fund (after deposit of funds for Issuance Costs, capitalized interest and any debt service reserve), together with any interest earned thereon. "Certificate of Reimbursable District Project Costs " means a document, substantially in the form of Exhibit D, attached hereto and incorporated herein by reference, delivered by the Developer to the City and the CID, which, upon the written acceptance by the CID and the written acceptance by the City pursuant to Section 3.1(d), will evidence the Reimbursable District Project Costs incurred by and payable to the Developer. -2- "CID Act" means the Community Improvement District Act, Sections 67.1401 to 67.1571 of the Revised Statutes of Missouri. "CID Sales Tax " means the community improvement district sales and use tax to be levied by the CID at a rate of not more than 1% in accordance with the CID Act. "CID Sales Tax Revenues " means the revenues generated by the CID Sales Tax, excluding (a) any amount paid under protest until the protest is withdrawn or resolved against the taxpayer and (b) any sum received by the CID that is the subject of a suit or other claim communicated to the CID, which suit or claim challenges the collection of such sum, until such suit or other claim is withdrawn or resolved against the claimant. "CID Special Assessment" means, with respect to any Lot in any calendar year, the special assessment to be levied by the CID (or imposed by contract) for such year at a rate not to exceed the greater of (a) the Actual Abatement Amount or (b) the amount shown on the Annual Special Assessment Schedule. "CID Special Assessment Revenues" means the revenues generated by the CID Special Assessment, excluding (a) any amount paid under protest until the protest is withdrawn or resolved against the taxpayer and (b) any sum received by the CID that is the subject of a suit or other claim communicated to the CID, which suit or claim challenges the collection of such sum, until such suit or other claim is withdrawn or resolved against the claimant. "City Attorney" means the person duly appointed as the City Attorney pursuant to the City Code. "City Code" means the Code of Ordinances of the City, as may be amended from time to time. "City Manager" means the person duly appointed as City Manager pursuant to the City Code. "Collector" means the Collector of Revenue of Cape Girardeau County. "Completion Certificate" means a document, substantially in the form of Exhibit E, attached hereto and incorporated herein by reference, delivered by the Developer to the City, which, upon the City's written acceptance thereof pursuant to Section 3.7, will evidence the Developer's satisfaction of all obligations and covenants to complete the In -Line Project or the Sears Project, as applicable, pursuant to this Agreement. No Completion Certificate will constitute a final inspection certificate, final occupancy certificate, or other documentation required by the City or any other governmental entity to occupy the Redevelopment Project or any portion thereof. "Concept Site Plan " means the site concept plan set forth as Exhibit B, attached hereto and incorporated herein by reference, depicting the conceptual program for construction of the Redevelopment Project. "Cooperation Agreement" means an agreement, substantially in the form of Exhibit F, attached hereto and incorporated herein by reference, to be entered into among the City, the CID, the Fee Owners and the Developer, as may be amended from time to time. "Fee Owners " means, collectively, Drury AT and Drury Land, and "applicable Fee Owner" means Drury AT or Drury Land, as appropriate. "Governmental Approvals" means all plat approvals, re -zoning or other zoning changes, planned unit development approvals, site plan approvals, conditional use permits, variances, building permits, -3- architectural review or other subdivision, zoning or similar approvals, or approvals required by the City Code or this Agreement for the implementation of the Redevelopment Project. "In -Line Project" means the portion of the Redevelopment Project to be carried out within Parel Number 20-309-00-02-004.00-2000. "Incentives" means the incentives to be received by the Fee Owners and the Developer pursuant to this Agreement, consisting of CID reimbursements and a Chapter 100 sales and use tax exemption on the construction materials necessary to complete the Redevelopment Project. "Issuance Costs " means all costs reasonably incurred by the City in connection with the issuance of the Project Obligations, including, but not limited to, the fees and expenses of financial advisors and consultants, the City's attorneys (including the City Attorney, Bond Counsel and disclosure counsel), the Issuer's attorneys, the CID's attorneys (not to exceed $25,000), the underwriter and its counsel, the City's administrative fees and expenses, the underwriter's discount and fees and the costs of printing any Project Obligations and any official statements relating thereto. "Issuer" means the issuer of any Project Obligations as mutually agreed by the City and the Developer, which may be but is not limited to the CID, the Missouri Development Finance Board, or The Industrial Development Authority of the County of Cape Girardeau, Missouri. "Lender" means any entity (a) not affiliated with the Developer or a Related Party that has made a loan to the Developer or a Related Party that is secured by all or a portion of the reimbursement to be received by the Developer under this Agreement, and (b) for which the Developer has provided notice to the City, including notice of the fact that such entity has provided such loan and the name, address and contact person for such entity. "Lot" means each parcel as to which a CID Special Assessment is imposed, as contemplated by the Development Plan, which the Developer expects to be Parel Number 20-309-00-02-004.00-0000, Parcel Number 20-309-00-02-004.00-2000 and Parcel Number 20-309-00-02-004.00-2001. "Maximum Reimbursement Amount" means $11,500,000l�us (a) Issuance Costs and (b) amounts paid by the Developer pursuant to Section 2.2(a) -(d). The Maximum Reimbursement Amount represents the maximum reimbursement to the Developer under this Agreement. "Parcel " means either of the separate parcels within the Redevelopment Area, being Parcel Number 20-309-00-02-004.00-0000 and Parcel Number 20-309-00-02-004.00-2000, and all of the Property associated therewith. "PILOTS " means the payments in lieu of taxes to be made by the Fee Owners pursuant to Section 5.1. "Prime Rate " means the prime rate reported in the "Money Rates" column or any successor column of The Wall Street Journal, currently defined therein as the base rate on corporate loans posted by at least 70% of the nation's 10 largest banks. If The Wall Street Journal ceases publication of the Prime Rate, then "Prime Rate" shall mean the "prime rate" or "base rate" announced by Bank of America, N.A., or any successor thereto. "Project Bonds" means any bonds authorized and issued by the Issuer for the purposes described in this Agreement and subject to the terms hereof. In "Project Fund" means the project fund established in connection with the issuance of any Project Obligations. "Project Notes " means any notes authorized and issued by the Issuer to the Developer or a Related Party for the purposes described in this Agreement and subject to the terms hereof. "Project Obligations " means, collectively, the Project Notes and the Project Bonds. "Property " means the real property (including without limitation all options held by third parties, fee interests, leasehold interests, tenant-in-common interests and such other like or similar interests) necessary to complete the Redevelopment Project, together with all improvements now existing or hereafter located thereon. "Redevelopment Project" means, collectively, (a) the Sears Project, including demolishing and removing, renovating, reconstructing or rehabilitating all or a portion of the site infrastructure and improvements located at 330 Siemers Drive to convert the property from a single commercial use to a multi - tenant commercial use, including without limitation sitework/demolition, concrete work, thermal and moisture protection, finishes, mechanical and electrical work, such that the building is retail -ready and suitable for occupancy (e.g., water tight and "white box" for future tenant occupancy); and (b) the In -Line Project, including demolishing and removing, renovating, reconstructing or rehabilitating all or a portion of the site infrastructure and improvements located at 242-308 Siemers Drive to enhance the existing multi - tenant commercial shopping center, including without limitation demolition, removal and replacement of sidewalks, asphalt overlay and re -striping of parking lot, repair and paint building fagade, install brick fagade to existing columns of the building, demolition and replacement of the roof of the building, retrofit existing parking lot lights to LED and paint light poles, reimage existing exterior signage and enhance landscaping. "Reimbursable District Project Costs " means those costs of the Redevelopment Project listed in Exhibit G (which shall not include costs of acquiring the Property or any interest therein). "Related Party" means any party related to the Developer by one of the relationships described in Section 267(b) of the United States Internal Revenue Code of 1986, as amended, or any party controlled by or under common control with the Developer. "Sears Project" means the portion of the Redevelopment Project to be carried out within Parel Number 20-309-00-02-004.00-0000. "Trustee" means the trustee for any Project Obligations. "Unabated Taxes " means, with respect to the first 10 years of any Lot's tax abatement period, as described in Section 5.1, the ad valorem real property taxes imposed on such Lot, as measured in accordance with Section 353.110 of Chapter 353 by the amount of the assessed valuation of such Lot's land, exclusive of improvements, as was determined by the Assessor in the calendar year preceding the calendar year in which the Redevelopment Corporation acquired such Lot. -5- ARTICLE II DEVELOPER DESIGNATION; DEVELOPER TO ADVANCE COSTS 2.1. Developer Designation. The Developer represents that Related Parties own all of the Property within the Redevelopment Area. The City hereby selects the Developer to implement the Redevelopment Project in accordance with the Development Plan, this Agreement and all Governmental Approvals. 2.2. Developer to Advance Costs. (a) Advances Under Fee Agreement. Pursuant to a fee agreement with Gilmore & Bell, P.C., the Developer has agreed to pay the fees and expenses of Gilmore & Bell, P.C. associated with the consideration of the Redevelopment Plan, the creation of the CID and the negotiation of this Agreement. (b) Advances Upon Execution of Agreement. The Developer agrees to pay the City's third - party legal and other consultants' fees incurred in connection with the approval of the Redevelopment Plan, the negotiation and administration of this Agreement (including, without limitation, the review of Certificates of Reimbursable District Project Costs and the Completion Certificates), the defense of any challenges to the validity of the ordinances relating to the Redevelopment Plan and this Agreement and the creation of the CID. The City shall consult with the Developer before entering into any new engagements with any third party and shall provide the Developer with a monthly statement showing each agreement executed and amounts paid pursuant to each such agreement. The Developer shall pay each monthly statement within 30 days of receipt. The Developer's obligation under this paragraph will terminate upon the City's acceptance of Completion Certificates for the entirety of the Redevelopment Project. (c) Advances Upon Issuance of Project Notes. Upon the initial issuance of the Project Notes, the Developer agrees to pay to the City an amount not to exceed $50,000 for the payment or reimbursement of reasonable Issuance Costs of the City (including the fees and expenses of the City Attorney and Bond Counsel) relating to the Project Notes. (d) No Waivers. Payment of any advance under this Section will not waive any application fee or other cost to the Developer associated with any Governmental Approvals required by the City Code, including but not limited to application fees for zoning changes and costs of traffic studies and landscape review. (e) Advances to be Reimbursable. To the extent permitted by law, all sums advanced or deemed advanced by the Developer under this Section shall constitute Reimbursable District Project Costs to be reimbursed to the Developer from the proceeds of Project Notes issued as provided herein. ARTICLE III MANNER OF REDEVELOPMENT 3.1. Project Development. (a) The Developer shall proceed with construction of the Redevelopment Project within six months after the effective date of this Agreement. The Developer shall submit to the City a Certificate of Completion for (1) the In -Line Project within 24 months after the effective date of this Agreement and (2) the Sears Project within 42 months after the effective date of this Agreement. 0 (b) The Developer and its project teams shall (1) submit quarterly written reports to the City regarding the status of the Redevelopment Project and leasing of the commercial space within the Redevelopment Area (provided, the Developer does not have to disclose any tenants or prospective tenants that the Developer, in its sole discretion, determines the disclosure of which will harm lease negotiations or other business relationships) and (2) upon reasonable notice, meet with the City Manager and such other City staff and consultants as designated by the City Manager to review and discuss the construction of the Redevelopment Project to enable the City to monitor the status of construction and to determine that the Redevelopment Project is being performed and completed in accordance with this Agreement and the City Code. (c) Upon the substantial completion of the Redevelopment Project on either Parcel, the Developer may furnish to the City a Certificate of Reimbursable District Project Costs, which shall be reviewed by the City and approved or disapproved in accordance with Section 3.1(d). (d) Within 30 days following submission of the Certificate of Reimbursable District Project Costs signed by the Developer and approved by the CID, the City shall notify the Developer in writing of its approval or disapproval of such certificate. The certificate may be approved in part and disapproved in part. If the City determines that any cost identified in such certificate does not qualify as a Reimbursable District Project Cost pursuant to this Agreement, the City shall so notify the Developer in writing within such 30 -day period, identifying the ineligible cost and the basis for determining the cost to be ineligible. If the City fails to approve or disapprove the Certificate of Reimbursable District Project Costs in writing within such 30 -day period, the Certificate of Reimbursable District Project Costs shall be deemed disapproved by the City. Nothing herein shall prevent the Developer from resubmitting all or any portion of the costs identified in a Certificate of Reimbursable District Project Costs that has been deemed disapproved by virtue of the City's inaction. (e) Following the substantial completion of the In -Line Project or the Sears Project, as applicable, the applicable Fee Owner may transfer fee title to the applicable Parcel to the Redevelopment Corporation for the purpose of initiating real property tax abatement as provided in Chapter 353 and Section 5.1. Immediately after acquiring fee title to a Parcel, the Redevelopment Corporation shall transfer fee title to such Parcel back to the applicable Fee Owner. The Developer or the applicable Fee Owner shall provide a copy of the recorded deed transferring fee title to such Parcel to the Redevelopment Corporation to the City and the Assessor. The Developer or the applicable Fee Owner shall also provide the Assessor and/or the Collector with any information relating to the Redevelopment Project that is necessary for the Assessor and/or the Collector to effect the real property tax abatement contemplated by this Agreement and to properly calculate the Unabated Taxes and PILOTS due hereunder. 3.2. Project Construction. (a) Construction of the Redevelopment Project shall be pursued in a good and workmanlike manner in accordance with the terms of this Agreement. (b) The City and its duly authorized agents may, at reasonable times during normal business hours and, except in the event of emergencies, upon not less than one business day's prior written notice, subject to the Developer's usual business, proprietary, safety and security requirements, inspect any work being performed in connection with the construction of the Redevelopment Project or any portion thereof. Police work by the City's Police Department is not limited by this Agreement. 3.3. Construction Contracts. All construction contracts for the Redevelopment Project entered into by or on behalf of the Developer shall state that the contractor has no recourse against the City -7- in connection with the contractor's construction of the applicable portion of the Redevelopment Project (but the absence of such a provision shall not result in any such recourse being available). 3.4. Competitive Bids; Prevailing Wage; Federal Work Authorization. (a) The Developer shall comply with all federal, state and local laws relating to the construction of the Redevelopment Project, including, but not limited to, Section 107.170 of the Revised Statutes of Missouri and laws relating to the payment of prevailing wages and competitive bidding, to the extent such laws are applicable to the Redevelopment Project. (b) The Developer acknowledges that it must comply with Section 285.530 of the Revised Statutes of Missouri regarding enrollment and participation in a federal work authorization program with respect to its employees working in connection with the Redevelopment Project. The Developer represents and warrants that it is in compliance with Section 285.530 of the Revised Statutes of Missouri at the time of execution of this Agreement and has provided a sworn affidavit and supporting documentation affirming participation by or on behalf of itself in a qualified work authorization program as evidence thereof. On or before December 31 of each year during the term of this Agreement, beginning December 31, 2026, the Developer shall provide an affidavit in substantially the form of Exhibit C, attached hereto and incorporated herein by reference, and documentation to evidence the Developer's continued compliance with Section 285.530 of the Revised Statutes of Missouri. (c) It shall be a material breach of this Agreement if the Developer knowingly permits a contractor to employ persons not authorized to work in the United States. If the Developer reasonably believes a contractor working on the Redevelopment Project is employing persons not authorized to work in the United States, the Developer shall promptly report the basis for that belief to the City. 3.5. Governmental Approvals. The Developer shall obtain or cause to be obtained all necessary Governmental Approvals and shall be subject to all lawful inspections and perform such necessary acts as are required under the ordinances of the City. The City agrees to cooperate with the Developer to request that the City process and timely consider all complete applications for the Governmental Approvals within the jurisdiction of the City as received, all in accordance with the City Code and other applicable laws and regulations. 3.6. Excusable Delay. Notwithstanding anything to the contrary contained herein, the times for performance under Section 3.1(a) shall be automatically extended by the number of days of delay caused by actions or events beyond the control of the Developer, including acts of God, labor disputes, strikes, lockouts, civil disorder or unrest, war, lack of issuance of any permits and/or legal authorizations by a governmental entity necessary for the Developer to proceed with the construction or to cause the construction of the applicable portion of the Redevelopment Project (provided that reasonable efforts have been made to obtain said permits and/or authorizations and all conditions precedent to the issuance of said permits and/or authorizations have been met), shortage or delay in the shipment of material or fuel, the occurrence of an epidemic or pandemic that materially impacts the availability of labor, fire, unavoidable casualties, unusually adverse weather conditions, unusually wet soil conditions, materially adverse litigation relating to the Redevelopment Project, including, but not limited to, any litigation, court order or judgment resulting from any litigation affecting the validity of the Development Plan, the Redevelopment Project or this Agreement, or any other causes beyond the Developer's reasonable control (an "Excusable Delay "). No Excusable Delay will be deemed to exist unless the Developer notifies the City in writing of such Excusable Delay within 30 days after the commencement of the event causing such Excusable Delay (or within 30 days after the date that the Developer should reasonably have determined that such event would cause such Excusable Delay). An Excusable Delay shall not include any condition or circumstance caused or extended by the Developer or a Related Party or attributable to actions or inaction by the In Developer or a Related Party. The Parties agree that lender restrictions, financial conditions, economic conditions, market conditions, lack of tenant interest and similar conditions or events do not constitute Excusable Delays. 3.7. Completion Certificates. (a) The Developer shall furnish a Completion Certificate to the City upon substantial completion of the In -Line Project and the Sears Project. (b) The City shall diligently process each Completion Certificate, including making such inspections as it deems necessary to verify to its reasonable satisfaction the accuracy of the certifications contained therein. The City shall accept or reject each Completion Certificate in writing within 30 days following delivery to the City. If the City fails to accept or reject a Completion Certificate in writing within such 30 -day period, then the Developer shall notify the City in writing of its failure to take action on the Completion Certificate, and the City shall have 15 days from receipt of such notice to accept or reject the Completion Certificate in writing. If the City has not accepted or rejected a Completion Certificate within such 15 -day period, the Completion Certificate shall be deemed rejected by the City. If the City rejects the Completion Certificate and/or the accompanying certifications, such rejection shall specify in reasonable detail in what respects the Developer has failed to complete the In -Line Project or the Sears Project, as applicable, in accordance with the provisions of this Agreement, or in what respects the Developer is otherwise in default, and what specific measures or acts the Developer must take or perform, in the reasonable opinion of the City, to obtain such acceptance. The Developer shall have such amount of time as is reasonably necessary to address the failures. When addressed (or if deemed rejected), the Developer shall re -submit the Completion Certificate to the City in accordance with this subsection and the 30 -day period for the City's approval or rejection of the Completion Certificate shall begin again subject to the foregoing provisions. (c) Upon the City's acceptance of both Completion Certificates, the Developer may record the Completion Certificates with the Cape Girardeau County Recorder of Deeds, and the same shall constitute evidence of the satisfaction of the Developer's agreements and covenants to perform its obligations hereunder with respect to the entirety of the Redevelopment Project. (d) Notwithstanding subsection (c) above, if the City has accepted a Completion Certificate with respect to the In -Line Project and Project Notes have been issued for the In -Line Project, then the CID's obligation to repay such Project Notes shall survive subsequent termination of this Agreement by the City, except that repayment of such Project Notes shall be limited to 40% of the original principal amount thereof and shall be made solely from CID Sales Tax Revenues. 3.8. Property Maintenance; Compliance with Applicable Laws. Each Fee Owner shall maintain or cause to be maintained all portions of the Redevelopment Project owned, leased or operated by such Fee Owner or a Related Party in good repair and condition and in compliance with the Approved Site Plan and all property maintenance provisions included in the City Code. ARTICLE IV REIMBURSEMENT OF REIMBURSABLE DISTRICT PROJECT COSTS; PROJECT OBLIGATIONS 4.1. Reimbursement of Reimbursable District Project Costs. Subject to the restrictions contained herein, the Developer may be reimbursed for verified Reimbursable District Project Costs, as In evidenced by Certificates of Reimbursable District Project Costs submitted pursuant to Sections 3.1(c) and approved in accordance with Section 3.1(d), in an amount not to exceed the Maximum Reimbursement Amount. Reimbursements to the Developer are limited to proceeds of the Project Obligations authorized hereunder. 4.2. Project Notes. (a) Subject to the limitations contained herein and so long as no default by the Developer has occurred and is continuing hereunder, Project Notes may be issued to the Developer in an aggregate principal amount not to exceed the Maximum Reimbursement Amount. Project Notes may be issued in one or more taxable and/or tax-exempt series. (b) Upon the initial issuance of Project Notes as provided herein, the Trustee shall endorse the Project Notes in an amount equal to the Reimbursable District Project Costs set forth in the first Certificate of Reimbursable District Project Costs submitted pursuant to Section 3.1(c) and approved in accordance with Section 3.1(d). Within 15 business days after the City's acceptance of the second and final Certificate of Reimbursable District Project Costs submitted pursuant to Section 3.1(c) and approved in accordance with Section 3.1(d), the City and the Developer may request the Trustee to issue an endorsement to the Project Notes in an amount equal to the Reimbursable District Project Costs set forth in such certificate. Upon each endorsement to the Project Notes, the Developer shall be deemed to have advanced funds necessary to purchase such Project Notes and the Issuer shall be deemed to have deposited such funds in the Project Fund and shall be deemed to have reimbursed the Developer on behalf of the City in full from the amounts deemed to be on deposit in the Project Fund from time to time. (c) All Project Notes shall have the following terms: (1) The Project Notes shall bear interest at a variable rate equal to (A) the Prime Rate plus 2.50% (but not less than 8.00%), if the interest on the Project Notes (in the opinion of Bond Counsel) is not excluded from gross income for federal income tax purposes, or (B) the Prime Rate plus 1.00% (but not less than 6.50%) if the interest on the Project Notes (in the opinion of Bond Counsel) is excluded from gross income for federal income tax purposes. Notwithstanding the foregoing, in no event shall the interest rate on the Project Notes exceed 10.00%. (2) Interest on the Project Notes shall accrue only on the amounts deemed advanced under Section 4.2(b). (3) Interest on the Project Notes shall be compounded semi-annually. (d) Except as otherwise provided in Section 4.3(a), the Developer or a Related Party must hold all Project Notes until substantial completion of the Redevelopment Project, as evidenced by the City's acceptance of Completion Certificates for the entirety of the Redevelopment Project pursuant to Section 3.7. (e) Notwithstanding any other term or provision of this Agreement, Project Notes shall be payable only from CID Special Assessment Revenues, CID Sales Tax Revenues and Bond Proceeds, and not from any other source. -10- 4.3. Project Bonds. (a) Project Bonds may be issued following the City's acceptance of Completion Certificates for the entirety of the Redevelopment Project pursuant to Section 3.7. Proceeds of the Project Bonds may be used to refund all or a portion of any outstanding Project Notes. (b) Any Project Notes not refunded by Project Bonds shall be fully subordinated as to both principal and interest to the Project Bonds. (c) Notwithstanding any other term or provision of this Agreement, Project Bonds shall be payable only from CID Special Assessment Revenues and CID Sales Tax Revenues, and not from any other source. 4.4. Cooperation in the Issuance of Project Obligations. If Project Obligations are issued, the Developer and the City covenant to cooperate, and to cause the CID to cooperate, and take all reasonable actions necessary to assist the Issuer, Bond Counsel, underwriters and financial advisors in the preparation of offering statements, private placement memorandums or other disclosure documents and all other documents necessary to market and sell the Project Obligations, including (1) disclosing tenants of the Redevelopment Project and the non-financial terms of the leases between the applicable Fee Owner and such tenants, and (2) providing sufficiently detailed estimates of the Reimbursable District Project Costs to be reimbursed so as to enable Bond Counsel to render its opinion as to the tax exemption of the Project Obligations. The Developer shall, if requested by the City or the Issuer, execute a continuing disclosure agreement or undertaking, whereby the Developer will be required to provide annual updates to certain operating information, including the information regarding tenant leases described above. The Developer will not be required to disclose to the general public or any investor the rent payable under any such lease or any proprietary or confidential financial information pertaining to the Developer or the Fee Owners, their respective tenants or the leases with their respective tenants, but upon the execution of a confidentiality agreement acceptable to the Developer and the Fee Owners, the Developer and the Fee Owners will provide such information to the City's and the Issuer's financial advisors, underwriters and their counsel to enable such parties to satisfy their due diligence obligations. Such compliance obligation shall be a covenant running with the Property, enforceable as if any subsequent transferee thereof were originally a party to and bound by this Agreement. 4.5. City to Select Bond Counsel, Underwriter and Consultants; Term and Interest Rate. Following consultation with the Developer and the Issuer, the City may select the Bond Counsel, disclosure counsel, underwriters, financial advisors and consultants as the City deems necessary for the issuance of the Project Obligations. The final maturity of the Project Obligations shall not exceed the maximum term permissible under Missouri law. The Project Obligations shall bear interest at such rates, shall be subject to redemption and shall have such terms as the City and the Issuer, following consultation with the Developer, underwriters, financial advisors and consultants, shall reasonably determine in conformance with the terms of this Agreement. 4.6. Project Bonds, CID Special Assessment and Chapter 353 Abatement. The Parties expect that the CID Special Assessment will be imposed with respect to each Lot in an amount roughly equal to the value of the real property tax abatement provided by Section 5.1. Notwithstanding the foregoing, the Parties agree that it is desirable to reduce the term of the real property tax abatement and/or the amount of the real property tax abatement, if doing so does not adversely affect the issuance of Project Bonds to refund those Project Notes secured by the CID Special Assessment Revenues. Accordingly, if (a) the underwriters, financial advisors and other consultants selected by the City for the issuance of the Project Bonds determine that only a portion of the CID Special Assessment Revenues is needed to produce sufficient revenues with which to repay the Project Bonds and (b) all of the then -outstanding Project Notes -11- secured by the CID Special Assessment Revenues will be refunded with the Project Bonds, the Parties will, subject to approval by the City Council, amend this Agreement to reduce the value of the real property tax abatement to the amount recommended by the underwriters, financial advisors and other consultants. The reduction may be effected (1) by increasing the PILOTS to be made on any Lot (provided, there may only be an increase in the PILOTs to be made on any Lot to the extent that there is a corresponding reduction in the CID Special Assessments to be levied on such Lot), (2) by reducing the term of the abatement on any Lot, or (3) any combination of (1) and (2). Nothing in this Section shall require the Developer to seek an amendment to the petition for the creation of the CID or an amendment to the petition of the owners of real property authorizing the CID Special Assessment if, at the time of any recommendation by the underwriters, financial advisors or other consultants pursuant to this Section, the Developer or a Related Party does not own the requisite percentage of real property within the CID as set forth in Section 67.1421.2(1)-(2) of the CID Act or Section 67.1521.1(1)-(2) of the CID Act, as applicable. ARTICLE V DEVELOPMENT INCENTIVES 5.1. Real Property Tax Abatement; Taxes and Payments in Lieu of Taxes. (a) Subject to the continuing compliance with this Agreement, upon the acquisition of a Parcel by the Redevelopment Corporation pursuant to Section 3.1(d), such Parcel shall be subject to the limited tax abatement permitted by Section 353.110 of Chapter 353 for 25 years, beginning with the Abatement Initiation Year. (b) Each Fee Owner covenants and agrees that in each year during the term of this Agreement, unless this Agreement is amended pursuant to the provisions of Section 4.6, it will make or cause to be made the following payments with respect to each Lot: (1) In each year before the Abatement Initiation Year, the greater o£ (A) 100% of the real estate taxes actually due and payable on such Lot; or (B) 100% of the Base Taxes with respect to such Lot. (2) In the Abatement Initiation Year and in each of the nine years thereafter, the sum of the following: (A) the Unabated Taxes; plus (B) if the Unabated Taxes are less than the Base Taxes, a PILOT equal to 100% of the difference. (3) In each of the 15 years thereafter, a PILOT equal to 50% of the real estate taxes otherwise due and payable upon such Lot, as measured by the assessed valuation thereof as determined by the County Assessor. (c) All PILOTS shall be paid to the Collector annually by December 31. The Parties expect that the real property tax bills provided by the Collector will reflect the appropriate amount of the taxes and PILOTS to be paid pursuant to this Agreement. However, the failure of the Collector to provide tax bills reflectingthe he appropriate amount of the taxes and PILOTS to be paid with respect to anipursuant to -12- this Agreement will not excuse the Fee Owners or any subsequent owner of such Lot from paving the taxes and PILOTS set forth above by December 31 of the applicable. (d) Each payment received by the Collector shall be distributed among the taxing districts that levy a real property tax on the Lots in proportion to their respective, then -current real property tax levies. (e) In consideration of the limited tax abatement provided by this Section, each Fee Owner agrees that neither it nor any successor in title or interest to any Lot will formally challenge or appeal the assessed valuation of such Lot at any time while such Lot is receiving limited tax abatement under this Agreement; provided, the foregoing shall not bind the Fee Owners or any successor if the assessed valuation is greater than the projected assessed valuation of such Lot, as shown in the tax impact statement prepared in connection with the Development Plan (the "Tax Impact Statement"). For purposes of this Section, if any Lot shown in the Tax Impact Statement is subdivided into two or more lots, the projected assessed valuation of such Lot, as shown in the Tax Impact Statement, shall be allocated among the subdivided lots on a pro rata basis (by square footage). (f) The Parties agree that the property tax abatement described in this Agreement will not apply to special assessments (including the CID Special Assessments) or ad valorem personal property taxes and will not reduce or eliminate any licenses or fees owing to the City or any other taxing jurisdiction with respect to the Redevelopment Project. (g) All deeds of trust and other security agreements secured by the Redevelopment Project or any portion thereof shall recognize that the PILOTS due and owing hereunder are to be given the same priority as real property taxes in the event of a foreclosure. To evidence such preference, all such deeds of trust or other security agreements must contain the following language (or similar language approved by the City Attorney or Bond Counsel): Recognition of Lender to terms of Redevelopment Agreement. Lender agrees that for so long as [the applicable portion of] the Property is subject to and receiving abatement of ad valorem real property taxes pursuant to the Redevelopment Agreement dated as of [*Document Date*] among Drury AT 2024, LLC, Drury Land Development, Inc., the City of Cape Girardeau, Missouri (the "City"), Drury Development Corporation and Cape West Plaza Redevelopment Corporation, the lien of the [Mortgage] shall be subject and inferior to the lien of the City thereto to the extent of any unpaid PILOTS (as defined in the aforementioned Redevelopment Agreement). Lender agrees that any proceeds received by Lender as a result of a foreclosure or deed in lieu of foreclosure related to [the applicable portion of] the Property shall be applied to pay any due and owing PILOTS before being applied to satisfy any or all amounts due and owing to the Lender. Before executing any deed of trust or other security agreement secured by the Redevelopment Project or any portion thereof, the applicable Fee Owner or a Related Party shall provide the City with a draft of such deed of trust or other security agreement for the sole purpose of ensuring that the language required by this Section 5.1(g) is included therein. Any deed of trust or other security agreement secured by the Redevelopment Project or any portion thereof that does not contain the required language shall be deemed to include such language, and the party whose obligations are secured by the deed of trust or other security agreement shall be bound by such language as if it were fully set forth therein. To the extent that the applicable Fee Owner or a Related Party has provided the City with a draft of any such deed of trust or other security agreement as required by this paragraph, such Fee Owner or the Related Party, as applicable, shall have complied with its obligations under this Agreement, and the City shall have no right to terminate this Agreement with respect to such Parcel because the final deed of trust or other security agreement does not contain the language required by this Section 5.1(g). -13- (h) The Parties agree that the limited tax abatement provided by this Section will be offset by the imposition of the CID Special Assessment. Therefore, if the CID Special Assessment is not imposed on any Lot within six months of the Redevelopment Corporation's acquisition of such Lot pursuant to Section 3.1(d), then the limited tax abatement provided by this Section shall immediately cease and shall not be reinstated until the CID Special Assessment is imposed on such Lot. In each calendar year in which the limited tax abatement has ceased, if even for a part of such year, the Developer shall make or cause to be made a PILOT in an amount which, when added to the Unabated Taxes, equals the amount of ad valorem real property taxes that would have been imposed on such Lot if the Lot were not subject to abatement. Any PILOT made under this subsection shall be in lieu of the PILOTS set forth in Sections 5.1(b)(2)(B) and (C). (i) Notwithstanding any provision to the contrary contained herein, the limited tax abatement provided by this Section shall expire upon the earlier of (1) the end of the 25 -year tax abatement period on each Parcel or (2) the payment in full of all Project Obligations secured by the CID Special Assessment Revenues. Upon the expiration of the limited tax abatement provided by this Section, (A) the Developer shall promptly send written notice to the Assessor (with a copy to the City) that the limited tax abatement on all Lots provided by this Section shall immediately cease and (B) from and after such date, the Developer or its successor in interest shall pay or cause to be paid 100% of the real estate taxes that are due on each individual Lot. 5.2. Sales Tax Exemption on Construction Materials. At the Developer's request, the City will issue industrial revenue bonds pursuant to Chapter 100 to facilitate a sales and use tax exemption on the construction materials necessary to complete the Redevelopment Project. The costs of the City in connection with issuing any such industrial revenue bonds, including, without limitation, City Attorney fees, Bond Counsel fees and trustee fees, shall be paid by the Developer upon delivery of the City's project exemption certificate. Upon the substantial completion of the entirety of the Redevelopment Project (as evidenced by the City's acceptance of Completion Certificates pursuant to Section 3.7), the Developer and its contractors and subcontractors shall cease use of the project exemption certificate. 5.3. Community Improvement District. (a) The CID shall be governed by a board of directors made up of five individuals appointed by the Mayor with the consent of the City Council, three of whom shall be representatives of the owners of real property or businesses operating within the CID and two of whom shall be residents of the City who are qualified and registered to vote and who have no financial interest in any real property or business operating within the CID. Successor directors of the CID shall be appointed as set forth in the petition for the creation of the CID. The Parties, acting through their representatives on the board of directors, shall cause the CID to (1) engage a qualified administrator and/or legal counsel to assist in managing the CID and ensuring compliance with applicable laws, (2) authorize and enter into the Cooperation Agreement and (3) take such steps as are necessary (including casting votes as qualified voters under the CID Act) to impose the CID Sales Tax and the CID Special Assessments. (b) The CID shall not impose any tax or assessment (other than the CID Sales Tax and the CID Special Assessments) or issue any Project Obligations without the prior approval of the City in its sole and absolute discretion. (c) If any Project Obligations are issued by or on behalf of the CID, the CID is authorized to apply the CID Sales Tax Revenues and the CID Special Assessment Revenues to the repayment of such Project Obligations, as further described in Section 11(c) of the Cooperation Agreement. -14- (d) Notwithstanding any provision hereof to the contrary, the authorization to levy the CID Special Assessments shall terminate upon the earlier of (1) the expiration of the term of the CID or (2) the payment in full of all Project Obligations secured by the CID Special Assessment Revenues. 5.4. Public Participation. (a) Reasonable Rate of Return. The purpose of affording public assistance to the Redevelopment Project is to accomplish the stated public purposes and not to subsidize an otherwise economically -viable development project. While the City Council has determined that the Redevelopment Project would not be undertaken but for the public assistance being provided, the parties recognize that the ongoing profitability of the Redevelopment Project to the Developer or a Related Party is based upon projections that may or may not be fulfilled. To ensure that the public assistance being provided does not subsidize an unreasonable level of earnings for the Developer or a Related Party with respect to the Redevelopment Project, the parties agree that a reasonable level of return for the Redevelopment Project is a leveraged rate of return of 19.00% (the "Maximum Rate of Return"). (b) Rate of Return Calculation. Upon the sale of the Property, before December 31, 2036, on which the In -Line Project or the Sears Project is located, the Developer shall provide a leveraged rate of return calculation (prepared in accordance with industry standards as reasonably determined by the City's Finance Director) (the "Leveraged Rate ofReturn") with respect to the In -Line Project or the Sears Project, as applicable. If the Leveraged Rate of Return exceeds the Maximum Rate of Return, then the City and the Developer (including any applicable Related Party) will equally divide the portion of sale proceeds that cause the Leveraged Rate of Return to exceed the Maximum Rate of Return. Subject to appropriation by the City Council, the City will divide its share of any revenues received pursuant to this paragraph among the taxing districts whose boundaries encompass the Redevelopment Area in proportion to their then - current real property tax levies. If the sale of the Property occurs on or after December 31, 2036, no public participation shall be due and no payments from the sale shall be owed by the Developer to the City. The Developer's calculation of the Leveraged Rate of Return shall include the Developer's signed certification regarding the accuracy of the calculation. If the City elects, pursuant to subparagraph (c) of this Section, to audit the Developer's submission, the Developer will provide, in a timely manner, detailed financial and other information required for the selected firm or consultant to complete the audit. (c) Audits. The City may, within 30 days after the Developer's submission of the Leveraged Rate of Return calculation, request an audit of the calculation by an independent firm or consultant selected by the City in its sole discretion. The Developer shall pay one-half of the costs of such firm or consultant. The firm or consultant shall inform the City and the Developer of any discrepancy identified by the audit in writing and provide a detailed explanation of the discrepancy. If the Developer does not provide a written objection to the audit findings within 30 days, then the audit findings shall be deemed final and the results of the audit shall be used in calculating or correcting the Leveraged Rate of Return and any payments owed to the City. If the Developer provides a written objection to the audit findings within 30 days, the Developer may request a new audit by a mutually -agreeable independent firm or consultant, the costs of which shall be paid by the Developer. Absent manifest error, the findings of the additional audit shall be deemed final and shall be relied upon in calculating or correcting the Leveraged Rate of Return and any payments owed to the City. -15- ARTICLE VI GENERAL PROVISIONS 6.1. Developer's Right of Termination. At any time before the Sears Project is substantially completed (as evidenced by the City's acceptance of a Completion Certificate for the Sears Project pursuant to Section 3.7), the Developer may abandon the Redevelopment Project in its entirety and terminate this Agreement in whole by giving written notice to the City. 6.2. City's Right of Termination. The City may terminate this Agreement in whole if. (a) the Developer or either Fee Owner defaults in or breaches any material provision of this Agreement and fails to cure such default or breach pursuant to Section 6.5; or (b) the Developer or either Fee Owner materially breaches any representation or warranty contained in Section 7.2, 7.3 or 7.4. 6.3. Results of Termination. (a) If this Agreement is terminated pursuant to Section 6.1 or Section 6.2: (1) no additional Certificates of Reimbursable District Project Costs will be approved by the City; and (2) except as may expressly survive the termination of this Agreement, including, without limitation, the CID's obligation to repay any Project Notes as described in Section 3.7(d), all other rights and obligations hereunder shall be deemed cancelled. (b) If this Agreement is terminated, the Property shall not be eligible for limited tax abatement, and the Fee Owners shall pay 100% of the real estate taxes actually due and payable on each Parcel from and after the calendar year in which this Agreement terminates. 6.4. Successors and Assigns; Transfers of Property. (a) All or any part of the Property or any interest therein may be sold, transferred, encumbered, leased, or otherwise disposed of at any time, and the rights of the Fee Owners and the Developer named herein or any successors in interest under this Agreement or any part hereof may be assigned at any time before, during or after redevelopment of the Redevelopment Project, whereupon the party disposing of its interest in the Property or assigning its interest under this Agreement shall be thereafter released from further obligation under this Agreement (although any such Property so disposed of or to which such interest pertains shall remain subject to the terms and conditions of this Agreement); provided, except as otherwise set forth herein, prior to substantial completion of the Redevelopment Project, the Developer shall not assign its interest in this Agreement to any person or entity without the City's prior written consent. The City shall not withhold its consent if it is reasonably satisfied that the proposed assignee has significant development experience and the financial ability to complete the Redevelopment Project (or portion thereof to be undertaken by such assignee) in accordance with the terms of this Agreement. The Developer shall be released from liability hereunder with respect to any Parcel upon an approved sale or assignment pursuant to the preceding sentence. (b) The City hereby approves, and no prior consent shall be required in connection with: (1) subject to Section 5.1(g), the right of the Fee Owners and the Developer to encumber or collaterally -16- assign their interest in the Property or any portion thereof or their rights, duties and obligations under this Agreement to obtain the benefits of a tax credit investment or to secure loans, advances or extensions of credit to finance or from time to time refinance all or any part of the Redevelopment Project, or the right of the holder of any such encumbrance or transferee of any such collateral assignment (or trustee or agent on its behalf) to transfer such interest by foreclosure or transfer in lieu of foreclosure under such encumbrance or collateral assignment; and (2) the right of the Fee Owners to sell, lease or transfer a commercial unit in the ordinary course of business; provided that in each such event (A) except as set forth herein, the Developer named herein shall remain liable hereunder for the substantial completion of the Redevelopment Project and shall be released from such liability hereunder only upon substantial completion, subject, however, to the Developer's right of termination pursuant to Section 6.1, and (B) the Developer provides to the City 15 days' advance written notice of the proposed assignment or transfer, other than for the sale or lease of a commercial unit in the ordinary course of business or the transfer of any rights hereunder or in the Property to a Related Parry. (c) The Developer shall, promptly upon the consummation of any assignment of its interests in this Agreement, provide the City with a copy of the assignment and assumption agreement between the Developer and the assignee. 6.5. Remedies. If any party defaults or breaches any material term or condition of this Agreement, the defaulting or breaching party shall, upon written notice from the other party or parties specifying such default or breach, cure or remedy such default or breach within 30 days after receipt of such notice (or such longer period as is reasonably required to cure such default, provided that (a) the breaching party has commenced such cure within said 30 -day period, and (b) the breaching party diligently prosecutes such cure to completion). If such cure or remedy is not taken or not diligently pursued, or the default or breach is not cured or remedied as provided above, the aggrieved party or parties may institute such proceedings as may be necessary or desirable in its opinion to cure and remedy such default or breach, including, but not limited to, proceedings to compel specific performance by the defaulting or breaching party or to terminate this Agreement. 6.6. Notices. Any notice, demand or other communication required by this Agreement to be given by one party hereto to another shall be in writing and shall be sufficiently given or delivered if delivered personally or transmitted electronically (and receipt confirmed by telephone or electronic read receipt): (a) If to the City: City of Cape Girardeau 44 N. Lorimier St. Cape Girardeau, Missouri 63701 Attention: Assistant City Manager tpulley@cityofcapegirardeau.org with copies to: City of Cape Girardeau 44 N. Lorimier St. Cape Girardeau, Missouri 63701 Attention: City Attorney gyoung@cityofcapegirardeau.org and -17- Gilmore & Bell, P.C. One Metropolitan Square 211 N. Broadway, Suite 2000 St. Louis, Missouri 63102 Attention: Mark D. Grimm, Esq. mgrimm@gilmorebell.com (b) If to the Fee Owners, the Developer or the Redevelopment Corporation: c/o Drury Development Corporation 13075 Manchester Road, Suite 200 St. Louis, Missouri 63131 Attention: Timothy M. Drury Email: tim.drury@drurydevelopment.com and: Armstrong Teasdale LLP 7700 Forsyth Boulevard, Suite 1800 St. Louis, Missouri 63105 Attention: Robert Klahr, Esq. Email: rklahr@atllp.com or to such other address with respect to any party as such party may, from time to time, designate in writing and forward to the others as provided in this Section. A duplicate copy of each notice or other communication given hereunder shall be given to each other party. 6.7. Insurance Requirements. (a) The Developer shall obtain, or shall require a Related Party or contractor to obtain, insurance as hereinafter set forth and shall maintain such insurance from the commencement of construction of the Redevelopment Project and continuing through the term of this Agreement. The Developer shall require that any such insurance obtained by a Related Party or contractor be maintained by such Related Party or contractor for the duration of the construction of the applicable portion of the Redevelopment Project. The policies for such insurance shall be placed with financially sound and reputable insurers licensed to transact business in the State of Missouri. The Developer or Related Party shall, from time to time at the request of the City, furnish the City with copies of the following polices and endorsements (or, at the City's option, certificates evidencing such policies and endorsements): (1) property and casualty insurance to keep the applicable portions of the Redevelopment Project constantly insured against loss or damage by fire, lightning and all other risks covered by the extended coverage insurance endorsement then in use in the State of Missouri in an amount equal to the Full Insurable Value thereof (subject to reasonable loss deductible clauses). "Full Insurable Value" means the actual replacement cost of the applicable portion of the Redevelopment Project; (2) commercial general liability insurance with coverages of not less than the current absolute statutory waivers of sovereign immunity in Sections 537.600 and 537.610 of the Revised Statutes of Missouri (which for calendar year 2026 is equal to $3,547,658 for all claims arising out of a single accident or occurrence and $532,148 for any one person in a single accident or occurrence). Further, the policy shall be adjusted upward annually, to remain at all times not less -18- than the inflation adjusted sovereign immunity limits as published in the Missouri Register on an annual basis by the Department of Insurance pursuant to Section 537.610 of the Revised Statutes of Missouri. Each liability policy obtained pursuant to this Section shall name the City as an additional insured and shall contain an agreement by the insurer that, notwithstanding any right of cancellation reserved to such insurer, such policy or contract shall continue in force for at least 10 days after written notice of cancellation is given to the City; and (3) workers' compensation insurance, with statutorily required coverage. (b) The Developer or Related Party shall maintain commercial general liability insurance subject to the terms of the Insurance Services Office ("ISO ") Commercial General Liability Coverage Form CG 0001, or a substitute form providing coverage that is at least as broad as the ISO form specified, including standard contractual liability coverage. Subject to such policy form's terms, conditions, and exclusions, contractual liability coverage shall apply to the Developer's indemnification obligations under Section 6.8. The required commercial general liability insurance shall be placed with such insurance carriers and contain such terms and conditions as shall be reasonably acceptable to the City Attorney. The Developer shall provide the City with a copy of such policy and any endorsements (or, at the City's option, certificates evidencing such policy and endorsements) to evidence the current effectiveness of such insurance coverage upon the execution of this Agreement and from time to time thereafter upon written request of the City. The Developer shall name the City as an additional insured under the commercial general liability insurance coverage required by this Section. 6.8. Release and Indemnification. (a) The indemnification and covenants contained in this Section shall survive expiration or earlier termination of this Agreement. (b) The Developer hereby agrees that, anything to the contrary herein notwithstanding, it will defend, hold harmless and indemnify the City and its governing body members, officials, employees, attorneys and agents against any and all claims, demands, actions, causes of action, losses, damages, injuries, liabilities and/or expenses (including reasonable attorneys' fees and court costs) resulting from, arising out of, or in any way connected with: (1) the Developer's failure to comply with any provision of this Agreement or the activities or transactions contemplated herein; (2) the negligence or intentional misconduct of the Developer or an affiliate thereof, or their respective employees and agents; (3) the presence of hazardous wastes, hazardous materials or other environmental contaminants in the Redevelopment Area; (4) any loss of or damage to property or any injury to or death of any person occurring in or about the Redevelopment Project in connection with any activities, acts or omissions of the Developer, a Related Party, or any of their respective contractors, agents or employees; or (5) otherwise arising out of the adoption or administration of this Agreement or the construction or operation of the portions of the Redevelopment Project. If the validity or construction of any state laws or local ordinances or resolutions in connection with this Agreement or affecting the Redevelopment Project are contested in court, the Developer shall defend, -19- hold harmless and indemnify the City from and against all claims, demands and/or liabilities of any kind whatsoever including, without limitation, any claim for reasonable attorneys' fees and court costs, and the Developer shall pay any monetary judgment and all court costs rendered against the City, if any. (c) Notwithstanding anything herein to the contrary, the City and its governing body members, officials, employees, attorneys and agents shall not be liable to the Developer for damages or otherwise if all or any part of Chapter 353 or any ordinance or resolution of the City adopted in connection with this Agreement or the Redevelopment Project is declared invalid or unconstitutional in whole or in part by the final (as to which all rights of appeal have expired or have been exhausted) judgment of any court of competent jurisdiction. (d) Notwithstanding the foregoing terms of this Section, the Developer shall have no obligation to defend, hold harmless or indemnify the City with respect to any matter or expense resulting from or arising out of the negligence or willful misconduct of the City. (e) All covenants, stipulations, promises, agreements and obligations of the City contained herein shall be deemed to be the covenants, stipulations, promises, agreements and obligations of the City solely, and not of any of its governing body members, officials, employees, attorneys or agents in their individual capacities. 6.9. Choice of Law; Conflicts. This Agreement shall be taken and deemed to have been fully executed, made by the Parties in, and governed by the laws of the State of Missouri for all purposes and intents. Any action arising out of, or concerning, this Agreement shall be brought only in the Cape Girardeau County Circuit Court or the U.S. District Court for the Eastern District of Missouri. 6.10. Counterparts. This Agreement is executed in multiple counterparts, each of which shall constitute one and the same instrument. 6.11. Severability. If any term or provision of this Agreement is held to be unenforceable by a court of competent jurisdiction, the remainder shall continue in full force and effect, to the extent the remainder can be given effect without the invalid term or provision. 6.12. No Waiver of Sovereign Immunity. Nothing in this Agreement shall be construed or deemed to constitute a waiver of the City's sovereign immunity. 6.13. No Third -Party Beneficiaries. This Agreement constitutes a contract solely among the City, Drury AT, Drury Land, the Developer and the Redevelopment Corporation. No third party has any beneficial interest in, or derived from, this Agreement. 6.14. Conflict of Interest. The Developer represents and warrants that it has fully complied in all material respects with the City's Charter regarding conflicting interests. In the acquisition, installation, completion and operation of the portions of the Redevelopment Project being undertaken by the Developer, no shareholder, member or officer of the Developer shall knowingly, after due inquiry, cause the Developer to employ or contract with any person if a member of such person's immediate family is a member of the City Council or is employed by the City in an administrative capacity (i.e., those having selection, hiring or supervisory or operational responsibility for the work to be performed pursuant to this Agreement). For the purposes of this Section "immediate family" includes wife, husband, son, daughter, mother, father, brother, sister, brother-in-law, sister-in-law, father-in-law, mother-in-law, aunt, uncle, niece, nephew, step- parent, and step -child. -20- 6.15. Further Authority. The City Manager is authorized to execute all documents on behalf of the City (including documents pertaining to the transfer of property or the financing or refinancing of the Redevelopment Project or any portion thereof) as may be required to carry out and comply with the intent of this Agreement. The City Manager is also authorized, unless expressly prohibited herein, to grant on behalf of the City such consents, estoppels and waivers relating to this Agreement as may be requested during the term hereof; provided, such consents, estoppels and/or waivers shall not increase the Maximum Reimbursement Amount set forth herein, waive an event of default or materially change the nature of the transactions contemplated herein unless otherwise approved by the City Council. 6.16. Project Data. The Developer has engaged architects, engineers and various other consultants to enable the Developer to provide certain estimates regarding the total cost of the Redevelopment Project, for review by the City and its consultants, which estimates are set forth as Exhibit G, attached hereto and incorporated herein by reference (the "Project Data "). In providing the Project Data, the Developer has generally reviewed and relied upon certain information furnished by its architects, engineers and various other consultants. The Project Data contains prospective information, opinions and estimates regarding a Redevelopment Project that has not yet been constructed. The Project Data is not provided as a prediction or assurance that a certain level of performance will be achieved or that certain events will occur. The Parties agree that actual results will vary from the estimates provided in the Project Data and that such variations may be material. Nevertheless, to the Developer's knowledge, the Project Data is a good faith estimate of anticipated costs of the Redevelopment Project as of the date hereof. 6.17. Term of Agreement. This Agreement shall terminate on the earliest of the following: (a) termination by the Developer pursuant to Section 6.1; (b) termination by the City pursuant to Section 6.2; or (c) payment in full of all outstanding Project Obligations or, if such Project Obligations are not paid in full at final maturity, then upon expiration of the last to expire of the CID Sales Tax and the CID Special Assessments. ARTICLE VII REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE PARTIES 7.1. Representations by the City. The City makes the following representations and warranties, which are true and correct on the date hereof: (a) No Violations. The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, and the fulfillment of the terms and conditions hereof do not and will not conflict with or result in a breach of any of the terms or conditions of any agreement or instrument to which it is now a party, and do not and will not constitute a default under any of the foregoing. (b) No Litigation. To the City's knowledge, no litigation, proceedings or investigations are pending against the City with respect to the Redevelopment Project or this Agreement. In addition, no litigation, proceedings or investigations are pending against the City that seek to restrain, enjoin or in any way limit the approval or execution, delivery or validity of this Agreement or that would in any manner challenge or adversely affect the existence or powers of the City to enter into and carry out the transactions described in or contemplated by this Agreement or the performance by the City of the terms and provisions hereof. (c) No Default. No default or event of default has occurred and is continuing, and no event has occurred and is continuing that with the lapse of time or the giving of notice, or both, -21- would constitute a default or an event of default in any material respect on the part of the City under this Agreement. 7.2. Representations by Drury AT. Drury AT makes the following representations and warranties, which are true and correct on the date hereof: (a) No Violations. The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, and the fulfillment of the terms and conditions hereof do not and will not conflict with or result in a breach of any of the terms or conditions of any corporate or organizational restriction or of any agreement or instrument to which it is now a party, and do not and will not constitute a default under any of the foregoing. (b) No Litigation. To Drury AT's knowledge (including the knowledge of the representative of Drury AT executing this Agreement), no litigation, proceedings or investigations are pending against Drury AT (or any member of Drury AT) with respect to the Redevelopment Project. In addition, to Drury AT's knowledge (including the knowledge of the representative of Drury AT executing this Agreement), no litigation, proceedings or investigations are pending against Drury AT (or any member of Drury AT) that seek to restrain, enjoin or in any way limit the approval or execution, delivery or validity of this Agreement or that would in any manner challenge or adversely affect the existence or powers of Drury AT to enter into and carry out the transactions described in or contemplated by this Agreement or the performance by Drury AT of the terms and provisions hereof. (c) No Default. No default or event of default has occurred and is continuing, and no event has occurred and is continuing that with the lapse of time or the giving of notice, or both, would constitute a default or an event of default in any material respect on the part of Drury AT under this Agreement or any other material agreement or material instrument related to Drury AT's ability to perform pursuant to this Agreement and to which Drury AT is a party or by which Drury AT is or may be bound. (d) Compliance with Laws. With respect to its ability to perform pursuant to this Agreement, Drury AT is, to its knowledge, in material compliance with all valid laws, ordinances, orders, decrees, decisions, rules, regulations and requirements of every duly constituted governmental authority, commission and court applicable to any of its affairs, business or operations as contemplated by this Agreement. (e) Anti -Discrimination Against Israel Act. Pursuant to Section 34.600 of the Revised Statutes of Missouri, Drury AT certifies it is not currently engaged in and shall not, for the duration of this Agreement, engage in a boycott of goods or services from the State of Israel; companies doing business in or with Israel or authorized by, licensed by, or organized under the laws of the State of Israel; or persons or entities doing business in the State of Israel. 7.3. Representations by Drury Land. Drury Land makes the following representations and warranties, which are true and correct on the date hereof: (a) No Violations. The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, and the fulfillment of the terms and conditions hereof do not and will not conflict with or result in a breach of any of the terms or conditions of any corporate or organizational restriction or of any agreement or instrument to which it is now a party, and do not and will not constitute a default under any of the foregoing. -22- (b) No Litigation. To Drury Land's knowledge (including the knowledge of the officer of Drury Land executing this Agreement), no litigation, proceedings or investigations are pending against Drury Land (or any shareholder or officer of Drury Land) with respect to the Redevelopment Project. In addition, to Drury Land's knowledge (including the knowledge of the officer of Drury Land executing this Agreement), no litigation, proceedings or investigations are pending against Drury Land (or any shareholder or officer of Drury Land) that seek to restrain, enjoin or in any way limit the approval or execution, delivery or validity of this Agreement or that would in any manner challenge or adversely affect the existence or powers of Drury Land (or any officer of Drury Land) to enter into and carry out the transactions described in or contemplated by this Agreement or the performance by Drury Land (or any shareholder or officer of Drury Land) of the terms and provisions hereof. (c) No Default. No default or event of default has occurred and is continuing, and no event has occurred and is continuing that with the lapse of time or the giving of notice, or both, would constitute a default or an event of default in any material respect on the part of Drury Land under this Agreement or any other material agreement or material instrument related to Drury Land's ability to perform pursuant to this Agreement and to which Drury Land is a party or by which Drury Land is or may be bound. (d) Compliance with Laws. With respect to its ability to perform pursuant to this Agreement, Drury Land is, to its knowledge, in material compliance with all valid laws, ordinances, orders, decrees, decisions, rules, regulations and requirements of every duly constituted governmental authority, commission and court applicable to any of its affairs, business or operations as contemplated by this Agreement. (e) Anti -Discrimination Against Israel Act. Pursuant to Section 34.600 of the Revised Statutes of Missouri, Drury Land certifies it is not currently engaged in and shall not, for the duration of this Agreement, engage in a boycott of goods or services from the State of Israel; companies doing business in or with Israel or authorized by, licensed by, or organized under the laws of the State of Israel; or persons or entities doing business in the State of Israel. 7.4. Representations by the Developer. The Developer makes the following representations and warranties, which are true and correct on the date hereof: (a) No Violations. The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, and the fulfillment of the terms and conditions hereof do not and will not conflict with or result in a breach of any of the terms or conditions of any corporate or organizational restriction or of any agreement or instrument to which it is now a party, and do not and will not constitute a default under any of the foregoing. (b) No Litigation. To the Developer's knowledge (including the knowledge of the Developer's officer executing this Agreement), no litigation, proceedings or investigations are pending against the Developer (or any shareholder or officer of the Developer) with respect to the Redevelopment Project. In addition, to the Developer's knowledge (including the knowledge of the Developer's officer executing this Agreement), no litigation, proceedings or investigations are pending against the Developer (or any shareholder or officer of the Developer) that seek to restrain, enjoin or in any way limit the approval or execution, delivery or validity of this Agreement or that would in any manner challenge or adversely affect the existence or powers of the Developer (or any officer of the Developer) to enter into and carry out the transactions described in or contemplated by this Agreement or the performance by the Developer (or any shareholder or officer of the Developer) of the terms and provisions hereof. -23- (c) No Default. No default or event of default has occurred and is continuing, and no event has occurred and is continuing that with the lapse of time or the giving of notice, or both, would constitute a default or an event of default in any material respect on the part of the Developer under this Agreement or any other material agreement or material instrument related to the Developer's ability to perform pursuant to this Agreement and to which the Developer is a party or by which the Developer is or may be bound. (d) Compliance with Laws. With respect to its ability to perform pursuant to this Agreement, the Developer is, to its knowledge, in material compliance with all valid laws, ordinances, orders, decrees, decisions, rules, regulations and requirements of every duly constituted governmental authority, commission and court applicable to any of its affairs, business or operations as contemplated by this Agreement. (e) Anti -Discrimination Against Israel Act. Pursuant to Section 34.600 of the Revised Statutes of Missouri, the Developer certifies it is not currently engaged in and shall not, for the duration of this Agreement, engage in a boycott of goods or services from the State of Israel; companies doing business in or with Israel or authorized by, licensed by, or organized under the laws of the State of Israel; or persons or entities doing business in the State of Israel. 7.5. Representations by the Redevelopment Corporation. The Redevelopment Corporation makes the following representations and warranties, which are true and correct on the date hereof: (a) No Violations. The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, and the fulfillment of the terms and conditions hereof do not and will not conflict with or result in a breach of any of the terms or conditions of any corporate or organizational restriction or of any agreement or instrument to which it is now a party, and do not and will not constitute a default under any of the foregoing. (b) No Litigation. To the Redevelopment Corporation's knowledge (including the knowledge of the officer of the Redevelopment Corporation executing this Agreement), no litigation, proceedings or investigations are pending against the Redevelopment Corporation (or any shareholder or officer of the Redevelopment Corporation) with respect to the Redevelopment Project. In addition, to the Redevelopment Corporation's knowledge (including the knowledge of the officer of the Redevelopment Corporation executing this Agreement), no litigation, proceedings or investigations are pending against the Redevelopment Corporation (or any shareholder or officer of the Redevelopment Corporation) that seek to restrain, enjoin or in any way limit the approval or execution, delivery or validity of this Agreement or that would in any manner challenge or adversely affect the existence or powers of the Redevelopment Corporation (or any officer of the Redevelopment Corporation) to enter into and carry out the transactions described in or contemplated by this Agreement or the performance by the Redevelopment Corporation (or any shareholder or officer of the Redevelopment Corporation) of the terms and provisions hereof. (c) No Default. No default or event of default has occurred and is continuing, and no event has occurred and is continuing that with the lapse of time or the giving of notice, or both, would constitute a default or an event of default in any material respect on the part of the Redevelopment Corporation under this Agreement or any other material agreement or material instrument related to the Redevelopment Corporation's ability to perform pursuant to this Agreement and to which the Redevelopment Corporation is a party or by which the Redevelopment Corporation is or may be bound. -24- (d) Compliance with Laws. With respect to its ability to perform pursuant to this Agreement, the Redevelopment Corporation is, to its knowledge, in material compliance with all valid laws, ordinances, orders, decrees, decisions, rules, regulations and requirements of every duly constituted governmental authority, commission and court applicable to any of its affairs, business or operations as contemplated by this Agreement. (e) Anti -Discrimination Against Israel Act. Pursuant to Section 34.600 of the Revised Statutes of Missouri, the Redevelopment Corporation certifies it is not currently engaged in and shall not, for the duration of this Agreement, engage in a boycott of goods or services from the State of Israel; companies doing business in or with Israel or authorized by, licensed by, or organized under the laws of the State of Israel; or persons or entities doing business in the State of Israel. [Remainder of Page Intentionally Left Blank] -25- IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed in their respective names, and the City has caused its seal to be affixed hereto and attested, as of the date first above written (SEAL) ATTEST: Gayle Conrad, City Clerk CITY OF CAPE GIRARDEAU, MISSOURI Kenneth Haskin, City Manager ACKNOWLEDGMENT STATE OF MISSOURI ) ) SS. COUNTY OF CAPE GIRARDEAU ) On this day of , 2026, before me appeared KENNETH HASKIN, to me personally known, who, being by me duly sworn, did say that he is the City Manager of the CITY OF CAPE GIRARDEAU, MISSOURI, a home rule city, and that he is authorized to sign the foregoing instrument on behalf of said city, and acknowledged that he executed said instrument as said city's free act and deed. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in the County and State aforesaid on the day and year last above written. My Commission Expires: S-1 Name: Notary Public - State of Missouri Commissioned in DRURY AT 2024, LLC By: Name: Timothy M. Drury Title: ACKNOWLEDGMENT STATE OF MISSOURI ) ) SS. COUNTY OF ST. LOUIS ) On this day of , 2026, before me appeared TIMOTHY M. DRURY, to me personally known, who, being by me duly sworn, did say that he is an authorized signatory of DRURY AT 2024, LLC, a Missouri limited liability company, and that he is authorized to sign the foregoing instrument on behalf of said company, and acknowledged that he executed said instrument as said company's free act and deed. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in the County and State aforesaid on the day and year last above written. My Commission Expires: S-2 Name: Notary Public - State of Missouri Commissioned in St. Louis County DRURY LAND DEVELOPMENT, INC. Timothy M. Drury, President ACKNOWLEDGMENT STATE OF MISSOURI ) ) SS. COUNTY OF ST. LOUIS ) On this day of , 2026, before me appeared TIMOTHY M. DRURY, to me personally known, who, being by me duly sworn, did say that he is the President of DRURY LAND DEVELOPMENT, INC., a Missouri corporation, and acknowledged that he executed said instrument as said corporation's free act and deed. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in the County and State aforesaid on the day and year last above written. My Commission Expires: S-3 Name: Notary Public - State of Missouri Commissioned in DRURY DEVELOPMENT CORPORATION Timothy M. Drury, President ACKNOWLEDGMENT STATE OF MISSOURI ) ) SS. COUNTY OF ST. LOUIS ) On this day of , 2026, before me appeared TIMOTHY M. DRURY, to me personally known, who, being by me duly sworn, did say that he is the President of DRURY DEVELOPMENT CORPORATION, a Missouri corporation, and acknowledged that he executed said instrument as said corporation's free act and deed. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in the County and State aforesaid on the day and year last above written. My Commission Expires: S-4 Name: Notary Public - State of Missouri Commissioned in CAPE WEST PLAZA REDEVELOPMENT CORPORATION By: Name: Title: EIXQ 114 �'/_I_I 04 01I405 1040II tl STATE OF MISSOURI ) ) SS. COUNTY OF ST. LOUIS ) On this day of , 2026, before me appeared , to me personally known, who, being by me duly sworn, did say that he/she is an authorized signatory of CAPE WEST PLAZA REDEVELOPMENT CORPORATION, a Missouri urban redevelopment corporation, and acknowledged that he/she executed said instrument as said corporation's free act and deed. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in the County and State aforesaid on the day and year last above written. My Commission Expires: S-5 Name: Notary Public - State of Missouri Commissioned in EXHIBIT A LEGAL DESCRIPTION OF REDEVELOPMENT AREA THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN TH E CITY AND COUNTY OF CAPE GIRARDEAU, STATE OF MISSOURI, AND DESCRIBED AS FOLLOWS: ALLOF LOTTWO (2)OFCAPE WEST 12TH SUBDIVISION IN THECITY ANDCOUNTYOFCAPE GIRARDEAU, MISSOURI, AS SHOWN BY PLAT FILED IN PLAT BOOK 22 AT PAGE 68. ALSO, PARTOF LOTNO.3 OF CAPE WEST SEVENTH SUBDIVISION AS SHOWN BY PLATRECORDED IN PLAT BOOK NO. 18 AT PAGE NO. 65, DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHWEST CORNER OF LOTNO.2 OF CAPF. WEST 12TH SUBDIVISION AS SHOWN ON PLAT FILED IN BOOK 22, PAGE 68; THENCEN21'4500"W, 592.13' ALONG THE EASTERLY RIGHT OF WAY LINE OF SIEMERS DRIVE TO THE BEGINNING OF A CURVE CONCAVETO THE SOUTHWEST HAVING A RADIUS OF703.15 FEET AND A CENTRAL ANGLE OF 22029'23" AND A LENGTH OF 276.00 FEET IN A NORTHWESTERLY DIRECTION ALONG SAID CURVE, AND RIGHT OF WAY; TO A POINT AT THE NORTHWEST CORNER OF SAID LOT TWO (2) ON THE EAST RIGHT OF WAY LINE OF SIEMERS DRIVE; THENCE CONTINUING ALONG THE CURVE FOR 10.39' HAVING A RADIUS OF 703.15 FEET AND A CENTRAL ANGLE OF 00° 50'48"; THENCE CONTINUING ALONG SAID RIGHT OF WAY LINE THE FOLLOWING COURSES AND DISTANCES: N45 '05' 12"W, 156.61 FEET TO THE BEGINNING OF A CURVE CONCAVE TO THE NORTHEAST HAVING A RADIUS OF 660.00 FEET AND A CENTRAL ANGLE OF 23' 20'12"; THENCE ALONG SAID CURVE IN A NORTHWESTERLY DIRECTION 268.82 FEET; THENCE N21- 45' 00"W, 97.69 FEET; THENCE 568.15' 00"W, 10.00 FEET; THENCE N21'45'00"W,51.21 FEET TO THE SOUTHWEST CORNER OF LOT 3 A OF CAPE WEST SEVENTH AS SHOWN BY PLAT RECORDED IN PLAT BOOK NO. 18 PAGE NO. 65; THENCE DEPARTING SAID RIGHT OF WAY LINE ALONG THE SOUTH LINE OF SAID LOT 3A THE FOLLOWING COURSES AND DISTANCES; N68 -15' 00"E, 343.05 FEET; THENCE N21' 45'00-W, 132.59' FEET; THENCE N68' 15'00"E, 210.00 FEET; THENCE S21 '45' 00"E, 124.59 FEET; THENCE N68' 15'00" E, 170.50 FEET TO THE SOUTHEAST CORNER OF SAID LOT 3A OF CAPE WEST SEVENTH, SAID POINT ALSO BEING ON THE WEST RIGHT OF WAY LINE OF INTERSTATE 55, THENCE A-1 S21-45' 00"E, 559.13' ALONG SAID WEST RIGHT OF WAY TO THE NORTHEAST CORNER OF SAID LOT TWO (2) OF CAPE WEST 12TH SUBDIVISION; THENCE S21 °45' 00"E, 54.33 FEET; THENCE 5680 15'00" W, 40.00 FEET; THENCE S2 I* 45'00"E, 30.00 FEET; THENCE N680 15' 00"E, 40.00 FEET TO A POINT TO THE AFORESAID WESTERLY RIGHT OF WAY LINE OF ROUTE 55; THENCE ALONG SAID RIGHT OF WAY LINE THE FOLLOWING COURSES AND DISTANCES: S21'45' 00"E, 375.99 FEET; THENCE SI 80 53' 15"E, 100.12 FEET; THENCE S210 45' 00"E 313.36 FEET TO A POINT BEING THE SOUTHEAST CORNER OF THE AFOREMENTIONED LOT TWO OF CAPE WEST 12TH SUBDIVISION; THENCE S68015' 00" W, 535.00 FEET ALONG THE SOUTH LINE OF SAID LOT TWO TO THE SOUTHWEST CORNER OF LOT 2 OF CAPE WEST 12TH SUBDIVISION TO THE POINT OF BEGINNING, CONTAINING 20.217 ACRES. THE ABOVE DESCRIPTIONS ARE BASED ON: TITLE REPORT NUMBER 24219435 PREPARED BY CAPE GIRARDEAU COUNTY ABSTRACT & TITLE CO. INC., REVIEWED THROUGH NOVEMBER 6, 2024. THE TITLE REPORT AS THAT DESCRIBED IN FIRST AMERICAN TITLE INSURANCE COMPANY COMMITMENT NUMBER PNT450I1MO WITH AN EFFECTIVE DATE OF AUGUST 1, 2023. A-2 EXHIBIT B DEPICTION OF REDEVELOPMENT PROJECT/CONCEPT SITE PLAN I RACT -------- PRELIMINARY BUILIDING AREA > i jp, 1 PQM, i SM3 fi HIM*,I I [PIR, 1H.1i p --SIGN — 5 '01JUYE" SM2 — — — — -- --.SIEMERS— BRIVEf n'ITo 7 • J • CID f.1, C30 mm CW3 cis _ —=tTA W:.1GEFr T _qAG =;7: HE 7= ip i i " C3113 ------------ %,% CAP*rf�A E WESTTARGET RETAIL rLAzA r STORE EE rri firsill L- ..... 4 L L4— = I= CONCEPTUAL REDEVELOPMENT OF FORMER SEARS GRAND »i'F'HfNFs, ME CONCEPTUAL REDEVELOPMENT OF FORMER SEARS GRAND Q Q Q r i I'll)�T. 1 i, 1 I ! Q I I i l 1 i /'1�anw uavuu . caswc w � c o �oelb�l E � • c n i (� (r_i (_I'1 A, ZONCEPTUAL PLANS EXHIBIT C FORM OF FEDERAL WORK AUTHORIZATION PROGRAM AFFIDAVIT STATE OF MISSOURI ) ) SS COUNTY OF ST. LOUIS ) I, the undersigned, am over the age of 18 years and have personal knowledge of the matters stated herein. I am a duly authorized officer of Drury AT 2024, LLC, a Missouri limited liability company ("Drury AT'), and am President of Drury Land Development, Inc., a Missouri corporation ( "Drury Land"), and Drury Development Corporation, a Missouri corporation ("DDC"). I am authorized to attest to the matters set forth herein. Neither Drury AT nor Drury Land has any employees, and neither entity is expected to have any employees in the future. All employment matters related to projects undertaken by Drury AT and Drury Land in the City of Cape Girardeau, Missouri, will be administered by their affiliate, DDC. I hereby affirm DDC's enrollment and participation in a "federal work authorization program" as defined in Section 285.525 of the Revised Statutes of Missouri, as amended. DDC does not knowingly employ any person who is an "unauthorized alien" as defined in Section 285.525 of the Revised Statutes of Missouri, as amended. Further Affiant Sayeth Not. DRURY AT 2024, LLC By: Name: Timothy M. Drury Title: DRURY LAND DEVELOPMENT, INC. By: Name: Title: Timothy M. Drury President DRURY DEVELOPMENT CORPORATION By: Name: Timothy M. Drury Title: President C-1 Subscribed and sworn to before me this day of , 20_ My Commission Expires: IOW Notary Public EXHIBIT D FORM OF CERTIFICATE OF REIMBURSABLE DISTRICT PROJECT COSTS Certificate of Reimbursable District Project Costs TO: Cape West Plaza Community Improvement District Cape Girardeau, Missouri City of Cape Girardeau, Missouri Cape Girardeau, Missouri Re: Cape West Plaza Redevelopment Project Terms not otherwise defined herein shall have the meanings ascribed to such terms in the Redevelopment Agreement dated as of [*Document Date*] (the "Agreement") among the City of Cape Girardeau, Missouri (the "City "), Drury AT 2024, LLC, Drury Land Development, Inc., Drury Development Corporation (the "Developer"), and Cape West Plaza Redevelopment Corporation. In connection with said Agreement, the undersigned hereby states and certifies that: 1. A total of $ in Reimbursable District Project Costs was incurred in connection with the acquisition and construction of the Redevelopment Project, as shown on Schedule 1, attached hereto and incorporated herein by reference. Attached are itemized invoices, receipts or other documentation evidencing that all such costs have been paid or incurred and qualify as Reimbursable District Project Costs under the Agreement. 2. The Reimbursable District Project Costs have been paid by the Developer, are reimbursable under the Agreement and shall be reimbursed by the CID. A copy of this Certificate is being delivered simultaneously to the CID. 3. No Reimbursable District Project Cost listed on Schedule 1 has been included in any other certificate previously filed with the City. 4. There has not been filed with or served upon the Developer any notice of any lien, right of lien or attachment upon or claim affecting the right of any person, firm or corporation to receive payment of the amounts stated in this request, except to the extent any such lien is being contested in good faith. 5. The Redevelopment Project has been performed in a good and workmanlike manner and in accordance with the Approved Site Plan and the Agreement. Agreement. The Developer is not in material default or breach of any term or condition of the D-1 Dated this day of , 20_ DRURY DEVELOPMENT CORPORATION [Name], [Title] Approved this day of , 20 CAPE WEST PLAZA COMMUNITY IMPROVEMENT DISTRICT 0 [Name], [Title] Approved this day of , 20 CITY OF CAPE GIRARDEAU, MISSOURI [Name], [Title] Iia EXHIBIT E FORM OF COMPLETION CERTIFICATE Completion Certificate The undersigned, pursuant to that certain Redevelopment Agreement dated as of [*Document Date*] (the "Agreement") among the City of Cape Girardeau, Missouri (the "City"), Drury AT 2024, LLC, Drury Land Development, Inc., Drury Development Corporation (the `Developer"), and Cape West Plaza Redevelopment Corporation, hereby certifies to the City as follows: 1. As of , 20_, the [In -Line Project] [Sears Project] has been substantially completed in accordance with the Agreement. 2. The [In -Line Project] [Sears Project] has been completed in a good and workmanlike manner and in accordance with the Agreement, the Approved Site Plan and all Governmental Approvals applicable thereto. 3. Lien waivers for the [In -Line Project] [Sears Project] have been obtained. 4. This Completion Certificate is accompanied by one or more architect's certificate(s) of substantial completion on AIA Form G-704 (or the substantial equivalent thereof), which, when taken together, certify that the [In -Line Project] [Sears Project] has been substantially completed in accordance with the Agreement. 5. This Completion Certificate is being issued by the Developer to the City in accordance with the Agreement to evidence the Developer's satisfaction of all obligations and covenants in the Agreement to complete the [In -Line Project] [Sears Project]. 6. The Developer, simultaneous with the submission of this Completion Certificate, provided the City with a Certificate of Reimbursable District Project Costs for the [In -Line Project] [Sears Project]. This Completion Certificate is given without prejudice to any rights against third parties that exist as of the date hereof or that may subsequently come into being. Following the City's acceptance of Completion Certificates for both the In -Line Project and the Sears Project, the Developer may record the Completion Certificates in the office of the Cape Girardeau County Recorder of Deeds. Such recording shall evidence the satisfaction of the Developer's agreements and covenants to complete the Redevelopment Project pursuant to the Agreement. Terms not otherwise defined herein shall have the meanings ascribed to such terms in the Agreement. E-1 IN WITNESS WHEREOF, the undersigned has hereunto set his/her hand this day of 20 DRURY DEVELOPMENT CORPORATION ACCEPTED this day of , 20_ CITY OF CAPE GIRARDEAU, MISSOURI By: Name: Title: LN [Name], [Title] (Insert Notary Form(s) and Legal Description) E-2 EXHIBIT F FORM OF COOPERATION AGREEMENT THIS COOPERATION AGREEMENT (this "Agreement") is made and entered into as of , 2026, by and among the CITY OF CAPE GIRARDEAU, MISSOURI, a home rule city and political subdivision of the State of Missouri (the "City"), the CAPE WEST PLAZA COMMUNITY IMPROVEMENT DISTRICT, a community improvement district and political subdivision of the State of Missouri (the "CID"), DRURY AT 2024, LLC, a Missouri limited liability company ("Drury AT"), DRURY LAND DEVELOPMENT, INC., a Missouri corporation ( "Drury Land" and, collectively with Drury AT, the "Fee Owners"), and DRURY DEVELOPMENT CORPORATION, a Missouri corporation (the "Developer" and, together with the City, the Fee Owners and the CID, the "Parties"). All capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in the hereinafter -defined Redevelopment Agreement. RECITALS: 1. The City, the Fee Owners, the Developer and Cape West Plaza Redevelopment Corporation entered into a Redevelopment Agreement dated as of [*Document Date*] (the "Redevelopment Agreement"). 2. The Parties desire to enter into this Agreement, as contemplated by the Redevelopment Agreement, to set forth their respective rights and responsibilities regarding the construction and financing of projects to be funded by the CID (the "CID Project"). AGREEMENT: NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained in this Agreement, the Parties agree as follows: Section 1. Authority of the City. The City has full constitutional and lawful right, power, and authority, under current applicable law, to execute and deliver and perform the terms and obligations of this Agreement, and this Agreement has been duly and validly authorized and approved by all necessary City proceedings, findings, and actions. Accordingly, this Agreement constitutes the legal, valid, and binding obligation of the City, enforceable in accordance with its terms. Section 2. Authority of the CID. The CID has full constitutional and lawful right, power, and authority, under current applicable law, to execute and deliver and perform the terms and obligations of this Agreement, and this Agreement has been duly and validly authorized and approved by all necessary CID proceedings, findings, and actions. Accordingly, this Agreement constitutes the legal, valid, and binding obligation of the CID, enforceable in accordance with its terms. Section 3. Authority of Drury AT. Drury AT has full corporate and lawful right, power, and authority, under current applicable law, to execute and deliver and perform the terms and obligations of this Agreement, and this Agreement has been duly and validly authorized and approved by all necessary corporate proceedings, findings, and actions. Accordingly, this Agreement constitutes the legal, valid, and binding obligation of Drury AT, enforceable in accordance with its terms. Section 4. Authority of Drury Land. Drury Land has full corporate and lawful right, power, and authority, under current applicable law, to execute and deliver and perform the terms and obligations F-1 of this Agreement, and this Agreement has been duly and validly authorized and approved by all necessary corporate proceedings, findings, and actions. Accordingly, this Agreement constitutes the legal, valid, and binding obligation of Drury Land, enforceable in accordance with its terms. Section 5. Authority of the Developer. The Developer has full corporate and lawful right, power, and authority, under current applicable law, to execute and deliver and perform the terms and obligations of this Agreement, and this Agreement has been duly and validly authorized and approved by all necessary corporate proceedings, findings, and actions. Accordingly, this Agreement constitutes the legal, valid, and binding obligation of the Developer, enforceable in accordance with its terms. Section 6. CID Sales Tax. Promptly following the approval of this Agreement by the CID's Board of Directors (the "CID Board"), the CID shall adopt a resolution to impose a community improvement district sales and use tax (the "CID Sales Tax"). The Fee Owners and the City will promptly cause, through their respective representatives appointed to the CID Board and, with respect to the Fee Owners, in their capacity as qualified voters, the CID Sales Tax to be levied by the CID and approved by the qualified voters at the rate of not to exceed one percent (1.0%). The CID Sales Tax shall be imposed as soon as possible pursuant to the terms of the CID Act and any other applicable laws and shall not be terminated so long as any Project Obligations issued by or on behalf of the CID and secured thereby remain outstanding and unless otherwise in conformance with Section 67.1545.9 of the CID Act. Section 7. CID Special Assessment. Promptly following the approval of this Agreement by the CID Board, the CID Board shall adopt a resolution to impose a community improvement district special assessment (the "CID Special Assessment"). The Fee Owners and the City will promptly cause, through their respective representatives appointed to the CID Board, the CID Special Assessment to be levied by the CID Board, as approved by petition of the owners of more than 50% of the assessed value of the real property within the CID and the owners of more than 50% per capita of all of the real property within the CID. In each calendar year that a Lot is subject to the limited tax abatement provided by Section 5.1 of the Redevelopment Agreement, the CID Special Assessment shall be levied on such Lot at a rate not to exceed the greater of (1) the Actual Abatement Amount or (2) the amount shown on the Annual Special Assessment Schedule. The CID Special Assessment shall be imposed as soon as possible pursuant to the terms of the CID Act and any other applicable laws and shall not be terminated so long as any Project Obligations issued by or on behalf of the CID and secured thereby remain outstanding and unless otherwise in conformance with the CID Act. Section 8. Continuing Existence of the CID. None of the CID, the City, the Fee Owners or the Developer will take any action to dissolve the CID or reduce the rate of the CID Sales Tax or the CID Special Assessment until (1) the funding and construction of the CID Project are completed, including the payment in full or cancellation of all Project Obligations issued by or on behalf of the CID and secured by the CID Sales Tax Revenues or the CID Special Assessment Revenues, as applicable, or (2) 27 years from the effective date of the ordinance approving the CID, unless the term of the CID is extended pursuant to Section 67.1481.6 of the CID Act. Upon the earlier to occur of (1) or (2) pursuant to the preceding sentence, the CID will immediately take such steps as may be required to terminate the CID Sales Tax and the CID Special Assessment. After all Project Obligations issued by or on behalf of the CID are paid in full or cancelled, the CID will immediately take such steps as may be required to dissolve the CID. Section 9. Governance of the CID. (a) The Parties acknowledge that the CID will be governed by a board of directors made up of five individuals appointed by the Mayor with the consent of the City Council, three of whom shall be representatives of the owners of real property or businesses operating within the CID and two of whom shall be residents of the City who are qualified and registered to vote and who have no financial interest in F-2 any real property or business operating within the CID. Successor directors of the CID shall be appointed as set forth in the petition for the creation of the CID. (b) The CID shall employ or engage an administrator or legal counsel with experience managing special taxing districts to ensure that the CID complies with this Agreement and all applicable laws and regulations. If the CID (1) fails to comply with any reporting requirement contained in the CID Act or other applicable law for two consecutive years, including, without limitation, timely submittal of annual reports, financial statements and budgets, (2) admits to or is found by a court to have committed two or more violations of Chapter 610 of the Revised Statutes of Missouri, as amended, or (3) is unresponsive to any inquiry or audit initiated by the Missouri State Auditor's office, then the City may designate an administrator or legal counsel for the CID to engage, at the CID's cost, to ensure that the CID complies with this Agreement and all applicable laws and regulations. (c) Except as expressly provided in Sections 10 and 11 of this Agreement, unless otherwise approved by the City in its sole and absolute discretion, the CID shall have no authorization to pay any costs, impose any tax, license, fee or assessment (other than the CID Sales Tax and the CID Special Assessment), or incur any obligations. (d) The Developer, the Fee Owners and the CID shall allow the City and its employees, agents, and representatives to inspect, within three business days after request therefor, all contracts, documents and records pertaining to the CID Project and the CID, including but not limited to the CID Sales Tax, the CID Special Assessment, and the CID's financial statements. In addition, the CID agrees that, before the effective date of the CID Sales Tax, the CID will file Form 4379 with the Missouri Department of Revenue to designate the City's Director of Finance as an authorized person to access all information regarding the CID Sales Tax under Sections 32.057 and 144.121 of the Revised Statutes of Missouri, as amended, so long as permitted under the Revised Statutes of Missouri, as amended. Section 10. Construction of the CID Project. The Developer shall construct, or cause the construction of, the CID Project and shall cause all funds to be advanced therefor. The Developer may be reimbursed for the costs thereof from the proceeds of Project Obligations, as further described in Section 11 of this Agreement. Section 11. Reimbursable CID Project Costs and Project Obligations. (a) The CID shall establish the "CID Trust Fund," which shall include a "Sales Tax Account" and a "Special Assessment Account." The CID Sales Tax Revenues and the CID Special Assessment Revenues shall be deposited in the Sales Tax Account and the Special Assessment Account, respectively, and disbursed as follows: (1) first, to pay the CID's operating costs (legal, administrative, insurance, audit, etc.), which amount shall be paid equally from the Sales Tax Account and the Special Assessment Account and shall not exceed $20,000 for calendar year 2026, plus a year -over -year increase of 3% for any subsequent year, or such greater amount as unanimously approved by the members of the CID Board present at the meeting at which a quorum, including the City's two representatives, is present and the increase in the CID's annual operating costs is considered; and (2) second, to pay Project Obligations, as further described below. (b) The Developer agrees, upon written request of the CID, to promptly pay any operating costs in excess of the moneys available under (a)(1) above if the CID's revenues are insufficient for that F-3 purpose. Any such moneys paid by the Developer may be reimbursed by the CID when sufficient funding is available. (c) If any Project Obligations have been issued by or on behalf of the CID in accordance with Article IV of the Redevelopment Agreement, the CID (1) may use the proceeds thereof to reimburse the Developer for the Reimbursable District Project Costs identified in all approved Certificates of Redevelopment Project Costs and (2) shall use the money available under (a)(2) to pay such Project Obligations; provided, however, that money in the Special Assessment Account shall only be used to pay those Project Obligations secured by the CID Special Assessment Revenues. (d) If the CID Special Assessment Revenues collected and received by the CID exceed the amount necessary to pay in full Project Obligations payable from the CID Special Assessment Revenues, any excess funds shall be refunded to the owners of such tracts, lots or parcels that paid the final year of CID Special Assessments, pro rata relative to the amounts paid by such owners. Such refunds shall be made by December 31 of the year following the final year of the CID Special Assessments. Section 12. Federal Work Authorization Program. Simultaneously with the execution of this Agreement, the Developer shall provide the CID and the City with an affidavit, in substantially the form of Exhibit C to the Redevelopment Agreement, and documentation to evidence the Developer's compliance with Section 285.530 of the Revised Statutes of Missouri, as amended. Section 13. Insurance. (a) The CID will maintain reasonable levels of insurance throughout its existence. Without limiting the generality of the foregoing, the CID shall, simultaneously with the execution of this Agreement and annually thereafter through the term of this Agreement, provide evidence of a directors and officers liability or similar policy (in form and substance reasonably acceptable to the City Attorney) that includes coverage for all suits, claims, costs of defense, damages, injuries, liabilities, costs and/or expenses, including court costs and attorneys' fees and expenses, resulting from, arising out of, or in any way connected with the proceedings of the CID Board pursuant to the CID Act and Chapter 610 of the Revised Statutes of Missouri. (b) The policies of insurance required pursuant to clause (a) above shall be placed with MOPERM or financially sound and reputable insurers licensed to transact business in the State of Missouri with a financial strength rating of not less than A- and a financial size category of not less than VIII as designated in the most currently available "A.M. Best's" insurance reports. The CID shall deliver or cause to be delivered to the City copies of all insurance policies maintained hereunder. Section 14. Hold Harmless. Notwithstanding anything herein to the contrary, the City shall not be liable to the Developer, the Fee Owners or the CID for damages or otherwise if all or any part of the CID, the CID Project or any ordinance or resolution of the City adopted in connection therewith is declared invalid or unconstitutional in whole or in part by any court of competent jurisdiction. Section 15. Successors and Assigns. This Agreement may be assigned by the Fee Owners and/or the Developer in the same manner as allowed for the assignment of the Redevelopment Agreement in Section 6.4 of the Redevelopment Agreement. Section 16. Severability. If any term or provision of this Agreement is held to be unenforceable by a court of competent jurisdiction, the remainder shall continue in full force and effect, to the extent the remainder can be given effect without the invalid term or provision. F-4 Section 17. Waiver. The City's failure at any time hereafter to require strict performance by the CID, the Fee Owners or the Developer of any provision of this Agreement shall not waive, affect, or diminish any right of the City thereafter to demand strict compliance and performance therewith. Section 18. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same agreement. Section 19. Anti -Discrimination Against Israel Act. Pursuant to Section 34.600 of the Revised Statutes of Missouri, as amended, the Developer and each Fee Owner certifies that it is not currently engaged in and shall not, for the duration of this Agreement, engage in a boycott of goods or services from the State of Israel; companies doing business in or with Israel or authorized by, licensed by, or organized under the laws of the State of Israel; or persons or entities doing business in the State of Israel. [Remainder of Page Intentionally Left Blank] F-5 IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed in their respective names and attested as of the date first above written. CITY OF CAPE GIRARDEAU, MISSOURI LN [SEAL] ATTEST: Gayle Conrad, City Clerk [Cooperation Agreement] Kenneth Haskin, City Manager [SEAL] ATTEST: By: Name: Title: Secretary [Cooperation Agreement] F-7 CAPE WEST PLAZA COMMUNITY IMPROVEMENT DISTRICT By: Name: Title: Chair DRURY AT 2024, LLC By: Name: Timothy M. Drury Title: DRURY LAND DEVELOPMENT, INC. By: Name: Title: Timothy M. Drury President DRURY DEVELOPMENT CORPORATION By: Name: Title: [Cooperation Agreement] Timothy M. Drury President EXHIBIT G ESTIMATED PROJECT BUDGET AND REIMBURSABLE DISTRICT PROJECT COSTS 242 3femens Dane Description Suditeted Coats* Reimbursable Costs•* Columbia Construction Description Budgeted Costs* - Demolition of existing storefront sidewalk Acquisition Costs $ - Installation of new storefront sidewalk $ - - Demolition and repair of failed asphalt $ 6,761,975 - Installation of asphalt over existing parking lot S 972,000 S 972,000 - Rcstriping of parking lot 100,000 S - Installation of brick facade to existing columns Landscaping $ - Demolition of existing mansard roof mcial S 50,00o - Installation of new roof $ 135,00D A-1 Signs - Reimage Existing Freestanding $ 75,000 S 75,000 Signage 30,000 $ Landscaping S 50,000 S 50,000 Architccturc and Dcsi $ 97,200 S 97,200 Civil En in erin _ $ 97,200 S 97,200 Sot Coat Contin c 5 129,140 S 129,140 tubr„rul S 1,420,540 $ 1,420,540 a lbs anwmil m each btidpt cate@my ism estimate. Savings in one budget category tnny be applied to additional costs inatrred in other budget categories. •• Although it n estimated thnr there are elrgibk Cl 1) Project costs of 522,950,91 S. tine maximum mnotmt of CID Project costs that the pi olxned District will fund is S 11,500,0)0. 'Ile utoxirrsurn amount excludes the District's payment of the follrnving, a'htch anxnmts may be funded above and lxyrmd the nuaxrmons amount: all City applicaticxt fees, permit fees and other fees uicuned in connection with the CID Protea (%shah, on the aggregate, shall not exceed S200,000). Coats of Issuance (as defined in the Petition). if any, the proposed District's adminntrotivr fees and expenses including, but not lanited to. fees and costs related In the Ilainiosed District's formntion, plating consultmdts, ad%,LAns; auditors aad It -gal counscl, and reitnbursernent to the ON for dee City's third -party prufessicaW costs directly related to the City's consideration of the proposed Dwrict inchnJmg, without limitation, legal mul planning expenses incumd in relation to the Cit?'x eedahkilunt to of the proposed District ail the City's participation and responsibilities with regard to lite ongoing operation, fw►ctions and administration of the proposed District, G-1 330 Slesters Drive _ Description Budgeted Costs* Reimbursable Casts**_ Acquisition Costs $ 6,000,000 $ - Columbia Construction - Whitc Shell $ 6,761,975 $ 6,761 975 A- l Si a $ 100,000 S 100,000 Landscaping $ 50,000 S 50,00o Sitc Work for Pad $ 135,00D S 135,000 Repair Storm Inlet at SEC $ 30,000 $ 50,000 Architecture and Engineering Design $ 1,352,395 $ 1,352,395 Civil Enitineering $ 676,198 $ 676,198 Soft Cost Contingricy $ 912,557 $ 912,557 Tenant Allowance + Landlord Work S 5,492,250 S Snuolal S 21,530,375 $ 10,038125 Total CID Project Costs $ 22,950.915 1 S 11458 665 a lbs anwmil m each btidpt cate@my ism estimate. Savings in one budget category tnny be applied to additional costs inatrred in other budget categories. •• Although it n estimated thnr there are elrgibk Cl 1) Project costs of 522,950,91 S. tine maximum mnotmt of CID Project costs that the pi olxned District will fund is S 11,500,0)0. 'Ile utoxirrsurn amount excludes the District's payment of the follrnving, a'htch anxnmts may be funded above and lxyrmd the nuaxrmons amount: all City applicaticxt fees, permit fees and other fees uicuned in connection with the CID Protea (%shah, on the aggregate, shall not exceed S200,000). Coats of Issuance (as defined in the Petition). if any, the proposed District's adminntrotivr fees and expenses including, but not lanited to. fees and costs related In the Ilainiosed District's formntion, plating consultmdts, ad%,LAns; auditors aad It -gal counscl, and reitnbursernent to the ON for dee City's third -party prufessicaW costs directly related to the City's consideration of the proposed Dwrict inchnJmg, without limitation, legal mul planning expenses incumd in relation to the Cit?'x eedahkilunt to of the proposed District ail the City's participation and responsibilities with regard to lite ongoing operation, fw►ctions and administration of the proposed District, G-1 rd Steadfast city & Comrr, .. . y Partners Technical Memorandum February 2026 To: Dr. Kenneth Haskin, City Manager Re: Cape West Plaza Development Plan Tax Impact Greg Young, City Attorney Statement CC: Mark Grimm, Special Counsel to City Project Name: Cape West Plaza From: Doug Rasmussen, President and CEO Shayla Meehan, Senior Project Manager I. INTRODUCTION This Memorandum and the accompanying tables comprise the Tax Impact Statement (the "Memo") for the Cape West Plaza redevelopment project (the "Project"), proposed by Drury Development Corporation (the "Developer"). The Project involves improvements to the shared parking lot area, fagade and roof improvements of the in-line Cape West Plaza commercial shopping center, as well as the redevelopment of the adjacent property formerly occupied by Sears. The "Redevelopment Area" or "Area" referenced herein is comprised of two legal parcels' totaling approximately 20.25 acres, located west of Interstate 55 at 242 and 330 Siemers Drive in Cape Girardeau, Missouri 63701. Affiliates of the Developer own both parcels in the Area. 242 Siemers Drive has been owned by an affiliate of the Developer for more than 30 years, and before repurchasing 330 Siemers Drive on November 8, 2023, the property had been formerly owned by an affiliate of the Developer and sold on June 24, 2004. The Developer plans to redevelop the vacant Sears building and surrounding exterior and parking lot (the "Former Sears Area"). Cape West Plaza Shopping Center will undergo exterior improvements to the parking lot and envelope of the building, such as the fagade and roof (the "Shopping ' As noted above, the Redevelopment Area is comprised of two legal parcels located at 242 and 330 Siemers Drive in the City. Pursuant to a triple net ground lease, a portion of 242 Siemers Drive is leased to a third -party entity operating a Sonic restaurant. The Sonic restaurant has a street address of 262 Siemers Drive. Because the third -party entity is required to pay all taxes and assessments with respect to the property at 262 Siemers Drive, the Cape Girardeau County Assessor has assigned the 262 Siemers Drive property its own tax parcel identification number, even though no separate legal parcel exists. Center Area"); no interior improvements are planned for the Shopping Center Area. A quick serve restaurant, Sonic, currently occupies the building located at 262 Siemers Drive (the "Sonic Area") and no improvements—interior nor exterior—will be made to the Sonic Area. The tables that follow this Memo detail the anticipated impact of the proposed Chapter 353 tax abatement on the affected taxing jurisdictions. This analysis reflects improvements to existing structures and associated exterior enhancements. Users of this analysis should consider the assumptions outlined in the attached tables and narrative below. As noted above, the Redevelopment Area includes two taxing parcels, with the Blight Finding and Development Plan applying to the entire Redevelopment Area. The Former Sears Area is contemplated for retail, office, and flex commercial tenants. The Shopping Center Area currently includes retail and commercial tenants. The Redevelopment Area is subject to the proposed Chapter 353 tax abatement and the associated PILOT Schedule, as described in this Memo. II. REAL PROPERTY TAX ABATEMENT REQUEST 1. Tax Abatement Period The redevelopment of the Former Sears Area and improvements to the Shopping Center Area are expected to commence in 2026. All of the improvements are expected to be complete in quarter one of 2027. Operations at the former Sears building are expected to begin in quarter three of 2027. This analysis assumes that the City will approve a development plan and development agreement that will allow for the following abatement terms: 1. Each tax parcel's ad valorem real property taxes will be abated for 25 years after title to such tax parcel is transferred to the Corporation, 2. During the 2025 tax year, ad valorem real property taxes of $9,084.02 were paid with respect to the tax parcel at 262 Siemers Drive, ad valorem real property taxes of $94,151.05 were paid with respect to the tax parcel at 242 Siemers Drive and ad valorem real property taxes of $92,036.31 were paid with respect to the tax parcel at 330 Siemers Drive (each such amount being the "Base Taxes" with respect to each such tax parcel), 3. During years 1-10 in which a tax parcel is subject to abatement, the Developer will pay taxes measured by the value of the land on such tax parcel in the year prior to the acquisition thereof by the Corporation, plus a payment in lieu of tax ("PILOT") equal to the difference between such tax parcel's Base Taxes and the taxes measured by the value of the land, and Steadfast City Economic & Community Partners — Cape West Plaza February 2026 4. During years 11— 25 in which a tax parcel is subject to abatement, the Developer will pay taxes measured by 50% of the property's then -current market value. Each tax and PILOT payment will be divided pro rata among the taxing districts that levy ad valorem real property taxes on the respective tax parcel based on each taxing district's then -current levy rate. 2. Base Assessed Value The base equalized assessed value (the "Base EAV") of the Former Sears Area is $1,721,270. The Base EAV of the Shopping Center Area is $1,760,820. The Base EAV of the Sonic Area is $169,890. The total Base EAV of the Redevelopment Area is $3,651,980. 3. Tax Rates The total current property tax rate levied against commercial property in the Area is $5.3470 per $100 of assessed valuation, inclusive of the commercial surcharge rate of $0.3690 per $100 of assessed valuation. The attached analysis assumes this tax rate will not change during the abatement period. 4. Projected Market Value and Assessed Value The assumptions for the Project's future market values are based on similar projects and existing assessments. At the time the Project is completed, the Assessor will appraise each parcel within the Redevelopment Area. Since the Project has not yet been constructed, the Assessor cannot determine the future appraised value for purposes of levying real property taxes. S. Growth in Market Value The attached analysis assumes a 3% growth in market value biennially, at each reassessment year or every odd calendar year except Table 4: No Build Scenario which assumes a 0.50% biennial growth to reflect stagnant growth over the last several years. Steadfast City Economic & Community Partners — Cape West Plaza February 2026 III. GENERAL ASSUMPTIONS AND CONDITIONS This Memo and the financial projections contained herein are based on assumptions, projections, and information provided by the Developer and various other sources considered reliable. Steadfast City neither verified nor audited the information that was provided by the other sources. Information provided by others is assumed to be reliable, but Steadfast City assumes no responsibility for its accuracy or certainty. The impact on these projections of actual implementation activities plus external factors can affect actual results. Changes in the national, regional, and local economic and real estate market conditions may impact the real estate market and proposed redevelopment activity. Changes or modifications may also be caused by economic, environmental, public policy, physical events, conditions, and/or other unforeseen circumstances. Steadfast City assumes no liability should market conditions change or the schedule is not met. The tax revenue projections contained in this report represent prospective information, opinions, and estimates regarding a development project that is not yet constructed. These projections are not provided as predictions or assurances that a certain level of performance will be achieved or that certain events will occur. The actual results will vary from the projections described herein and the variations may be material. Because the future is uncertain, there is risk associated with achieving the results projected. Steadfast City assumes no responsibility for any degree of risk involved. This report and the information included herein are intended for the purposes of providing an estimate of the performance of this potential project for use by the City and should not be used for other purposes. Neither this document nor its contents may be referred to or quoted, in whole or in part, for any purposes including, but not limited to, any official statement for a bond issue and consummation of a bond sale, any registration statement, prospectus, loan, or other agreement or document, without prior review and written approval by Steadfast City. Steadfast City Economic & Community Partners — Cape West Plaza February 2026 Stead Fast city Economic & Community Partners Cape West Plaza Tax Impact Statement Cape Girardeau, Missouri February 2026 Appendix A Steadfast City Economic & Community Partners — Cape West Plaza February 2026 List of Figures and Tables Cape West Plaza Redevelopment Project Cape Girardeau, Missouri Figure / Table Title Figure 1 Project Site Renderings Figure 2 Aerial Image and Site Boundary Figure 3 Project Site Plan Table 1 Most Recent Equalized Assessed Valuation ("Base EAV") Table 2 Real Property Tax Rates per $100 Assessed Value Table 3 Project Development Summary - Market and Assessed Values Upon Redevelopment Table 4 Estimated Real Property Taxes Paid - No -Build Scenario Table 5 Estimated Real Property Taxes Paid - with Abatement in Place - by Jurisdiction Table 6 Estimated Real Property Taxes Paid - without Abatement in Place - by Jurisdiction Table 7 Estimated Real Property Taxes Abated - with Abatement in Place - by Jurisdiction Steadfast City Economic & Community Partners — Cape West Plaza February 2026 Figure 1— Project Site Renderings Steadfast City Economic & Community Partners — Cape West Plaza February 2026 Figure 2 — Aerial Image and Site Boundary2 I The Redevelopment Area is comprised of two legal parcels located at 242 and 330 Siemers Drive in the City. Pursuant to a triple net ground lease, a portion of 242 Siemers Drive is leased to a third -party entity operating a Sonic restaurant. The Sonic restaurant has a street address of 262 Siemers Drive. Because the third -party entity is required to pay all taxes and assessments with respect to the property at 262 Siemers Drive, the Cape Girardeau County Assessor has assigned the 262 Siemers Drive property its own tax parcel identification number, even though no separate legal parcel exists. The map above shows the boundaries of the two legal parcels located as 242 and 330 Siemers Drive as well as the boundaries of the portion of 242 Siemers Drive that's occupied by Sonic. Steadfast City Economic & Community Partners — Cape West Plaza February 2026 Figure 3 — Project Site Plan TRACT -------- PRELIMINARY BUILDING AREA 1 Gr~ Iq1 � I 1 j SI=u=':S DRIVE :00'-i,. `d a _ L _C-_ �''. .J%.• SGJ6— ., a. ,� u11,.� ,1ii•U nflll,„1 C.,ts�,.. '�_ S ........... :iii+ +' , ,, 1 ' +'��+++�ifH! - if, 1:101111 d'. Willi, I llilil Illi i 11111111111111:11 7_ _------ ...�r._._ -.rv - .r.i-'--'-'r' �� I I �' I r48illl+ I 11fT;�1TTTii , I SIGN S �, �d 1 ! I SIGN 2 SIGN 1 1 ' ' r _ - — IEMER�-BRINE M T ---s •• r + r -...� J11:1111.:.1111:1:i� Ii !I,I it�I�Illl::: Oki O c_n 01`� 4) Oil, l a S I _ =-� -G.-= f CAPE WEST - - _ _ - Li 6d) Q J 77 cio ` r b • W yy O I i I I i I TARGET RETAIL i 1 STONE 1 1 1 ! 1 -------------- Steadfast City Economic & Community Partners — Cape West Plaza February 2026 Table 1 Most Recent Equalized Assessed Valuation ("Base EAV") Cape West Plaza Redevelopment Project Cape Girardeau, Missouri Anticipated Year of 2025 Base Land 2025 Base Parcel Owner Project Address 2025 Base Total EAV Completion EAV Improvement EAV Drury Land 20-309-00-02-004.00-2000 2027 242 SIEMERS DR $ 323,370 $ 1,437,450 $ 1,760,820 Development, Inc. Drury Land 20-309-00-02-004.00-2001 2027 262 SIEMERS DR $ 50,500 $ 119,390 $ 169,890 Development, Inc. 20-309-00-02-005.00-0000 Drury AT 2024, LLC 2027 330SIEMERSDR $ 258,190 $ 1,463,080 $ 1,721,270 Total 1 $ 632,060 $ 3,019,920 $ 3,651,980 1. Druryl-and Development, Inc. owns the fee interest in the real property located at262Siemers Driveand leases the property to D&BProperties, Inc.pursuantto a triple net ground lease. Because D&B Properties, Inc. is required to pay all taxes and assessments with respect to the property, the Cape Girardeau County Assessor's records reflect D&B Properties, Inc. as the "deed holder" of such property; however, a representative from the Cape Girardeau County Assessor's office has confirmed that such designation is solely for tax assessment and billing purposes. Steadfast City Economic & Community Partners — Cape West Plaza February 2026 Table 2 Real Property Tax Rates per $100 Assessed Value Cape West Plaza Redevelopment Project Cape Girardeau, Missouri Taxing Jurisdiction 2025 Commercial Rate County General Revenue $ 0.07860 County Mental Health $ 0.07750 County Public Health $ 0.09640 Senate Bill 40 (CGCBDD) $ 0.05530 County Senior Services $ 0.04800 State of Missouri $ 0.03000 Surcharge $ 0.36900 Cape Girardeau - General Revenue $ 0.30550 Cape Girardeau - Health $ 0.05720 Riverside Regional Library $ 0.07280 School District #63 $ 4.15670 Total $ 5.34700 1. Actual taxes willvaryfrom year-to-year dueto changes in adopted tax rates, state mandated rollbacks resultingfrom increased assessed valuethrough reassessment, and/or bond issues and debt requirement Steadfast City Economic & Community Partners — Cape West Plaza February 2026 Table 3 Project Development Summary- Market and Assessed Values Upon Redevelopment Cape West Plaza Redevelopment Project Cape Girardeau, Missouri Est. Market Est. Assessed Increment Est. Year 1of Building Size Est. Market Assessment Est.Assessed 2025 Base Parcel Project Address Value at Value at Subject to Term (SF) Value per SF Rate Value per SF Total EAV Completion Completion Abatement 20-309-00-02-004.00-2000 2028 242SIEMERSDR 107,724 $ 59.65 $ 6,425,894 32% $ 19.09 $ 2,056,286 $ 1,760,820 $ 295,466 20-309-00-02-004.00-2001 2028 262SIEMERSDR 6,400 $ 103.69 $ 663,628 32% $ 33.18 $ 212,361 $ 169,890 $ 42,471 20-309-00-02-005.00-0000 2028 330SIEMERSDR 114,940 $ 103.56 1 $ 11,903,749 1 32% $ 33.14 $ 3,809,200 $ 1,721,270 $ 2,087,930 Total 229,064 1 $ 18,993,270 1 1 $ 6,077,846 $ 3,651,980 $ 2,425,866 Steadfast City Economic & Community Partners — Cape West Plaza February 2026 Steadfast City Economic & Community Partners - Cape West Plaza February 2026 Table 4 Table 4 (Cont.) No -Build Scenario -Estimated Real Property Taxes No -Build Scenario - Estimated Real Property Taxes (Cont.) Cape West Plaza Redevelopment Project Cape West Plaza Redevelopment Project Cape Girardeau, Missouri Cape Girardeau, Missouri 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2045 2046 2047 2048 1 2 3 4 2052 5 6 7 8 9 10 11 15 12 13 17 18 19 20 21 22 23 24 25 Total (Gross) General Revenue $0.00079 $ 2,870 $ 2,885 $ 2,885 $ 2,899 $ 2,899 $ 2,914 $ 2,914 $ 2,928 $ 2,928 $ 2,943 $ 2,943 $ 2,958 $ 2,958 Mental Health $ 0.00078 $ 2,830 $ 2,844 $ 2,844 $ 2,859 $ 2,859 $ 2,873 $ 2,873 $ 2,887 $ 2,887 $ 2,902 $ 2,902 $ 2,916 $ 2,916 Public Health $ 0.00096 $ 3,521 $ 3,538 $ 3,538 $ 3,556 $ 3,556 $ 3,574 $ 3,574 $ 3,591 $ 3,591 $ 3,609 $ 3,609 $ 3,627 $ 3,627 Senate Bill 40 (CGCBDD) $ 0.00055 $ 2,020 $ 2,030 $ 2,030 $ 2,040 $ 2,040 $ 2,050 $ 2,050 $ 2,060 $ 2,060 $ 2,071 $ 2,071 $ 2,081 $ 2,081 Senior Services $ 0.00048 $ 1,753 $ 1,762 $ 1,762 $ 1,771 $ 1,771 $ 1,779 $ 1,779 $ 1,788 $ 1,788 $ 1,797 $ 1,797 $ 1,806 $ 1,806 State of Missouri $ 0.00030 $ 1,096 $ 1,101 $ 1,101 $ 1,107 $ 1,107 $ 1,112 $ 1,112 $ 1,118 $ 1,118 $ 1,123 $ 1,123 $ 1,129 $ 1,129 Surcharge $ 0.00369 $ 13,476 $ 13,543 $ 13,543 $ 13,611 $ 13,611 $ 13,679 $ 13,679 $ 13,747 $ 13,747 $ 13,816 $ 13,816 $ 13,885 $ 13,885 City -General Revenue $0.00306 $ 11,157 $ 11,213 $ 11,213 $ 11,269 $ 11,269 $ 11,325 $ 11,325 $ 11,382 $ 11,382 $ 11,439 $ 11,439 $ 11,496 $ 11,496 City - Health $0.00057 $ 2,089 $ 2,099 $ 2,099 $ 2,110 $ 2,110 $ 2,120 $ 2,120 $ 2,131 $ 2,131 $ 2,142 $ 2,142 $ 2,152 $ 2,152 Riverside Regional Library $ 0.00073 $ 2,659 $ 2,672 $ 2,672 $ 2,685 $ 2,685 $ 2,699 $ 2,699 $ 2,712 $ 2,712 $ 2,726 $ 2,726 $ 2,739 $ 2,739 School District#63 $0.04157 $ 151,802 $ 152,561 $ 152,561 $ 153,324 $ 153,324 $ 154,090 $ 154,090 $ 154,861 $ 154,861 $ 155,635 $ 155,635 $ 156,413 $ 156,413 Total $0.05347 $ 195,271 $ 196,248 $ 196,248 1 $ 197,229 $ 197,229 $ 198,215 1 $ 198,215 $ 199,206 $ 199,206 $ 200,202 $ 200,202 $ 201,203 $ 201,203 Steadfast City Economic & Community Partners - Cape West Plaza February 2026 Table 4 (Cont.) No -Build Scenario - Estimated Real Property Taxes (Cont.) Cape West Plaza Redevelopment Project Cape Girardeau, Missouri 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 14 15 16 17 18 19 20 21 22 23 24 25 Total (Gross) General Revenue $0.00079 $ 2,972 $ 2,972 $ 2,987 $ 2,987 $ 3,002 $ 3,002 $ 3,017 $ 3,017 $ 3,032 $ 3,032 $ 3,047 $ 3,047 $ 74,042 Mental Health $ 0.00078 $ 2,931 $ 2,931 $ 2,945 $ 2,945 $ 2,960 $ 2,960 $ 2,975 $ 2,975 $ 2,990 $ 2,990 $ 3,005 $ 3,005 $ 73,006 Public Health $ 0.00096 $ 3,646 $ 3,646 $ 3,664 $ 3,664 $ 3,682 $ 3,682 $ 3,701 $ 3,701 $ 3,719 $ 3,719 $ 3,738 $ 3,738 $ 90,810 Senate Bill40 (CGCBDD) $ 0.00055 $ 2,091 $ 2,091 $ 2,102 $ 2,102 $ 2,112 $ 2,112 $ 2,123 $ 2,123 $ 2,133 $ 2,133 $ 2,144 $ 2,144 $ 52,093 Senior Services $ 0.00048 $ 1,815 $ 1,815 $ 1,824 $ 1,824 $ 1,833 $ 1,833 $ 1,843 $ 1,843 $ 1,852 $ 1,852 $ 1,861 $ 1,861 $ 45,216 State of Missouri $ 0.00030 $ 1,135 $ 1,135 $ 1,140 $ 1,140 $ 1,146 $ 1,146 $ 1,152 $ 1,152 $ 1,157 $ 1,157 $ 1,163 $ 1,163 $ 28,260 Surcharge $ 0.00369 $ 13,955 $ 13,955 $ 14,024 $ 14,024 $ 14,094 $ 14,094 $ 14,165 $ 14,165 $ 14,236 $ 14,236 $ 14,307 $ 14,307 $ 347,601 City -General Revenue $0.00306 $ 11,553 $ 11,553 $ 11,611 $ 11,611 $ 11,669 $ 11,669 $ 11,727 $ 11,727 $ 11,786 $ 11,786 $ 11,845 $ 11,845 $ 287,784 City - Health $0.00057 $ 2,163 $ 2,163 $ 2,174 $ 2,174 $ 2,185 $ 2,185 $ 2,196 $ 2,196 $ 2,207 $ 2,207 $ 2,218 $ 2,218 $ 53,883 Riverside Regional Library $ 0.00073 $ 2,753 $ 2,753 $ 2,767 $ 2,767 $ 2,781 $ 2,781 $ 2,795 $ 2,795 $ 2,809 $ 2,809 $ 2,823 $ 2,823 $ 68,578 School District#63 $0.04157 $ 157,195 $ 157,195 $ 157,981 $ 157,981 $ 158,771 $ 158,771 $ 159,565 $ 159,565 $ 160,363 $ 160,363 $ 161,165 $ 161,165 $ 3,915,650 Total $0.05347 $ 202,209 $ 202,209 $ 203,220 $ 203,220 $ 204,236 $ 204,236 $ 205,258 $ 205,258 $ 206,284 $ 206,284 $ 207,315 $ 207,315 $ 5,036,924 Steadfast City Economic & Community Partners - Cape West Plaza February 2026 Steadfast City Economic & Community Partners - Cape West Plaza February 2026 Table 5 Estimated Real Property Taxes Paid -with Abatement Estimated Real Property Taxes Paid -with Abatement in Place -by Jurisdiction Cape West Plaza Redevelopment Project Cape West Plaza Redevelopment Project Cape Girardeau, Missouri Cape Girardeau, Missouri 2041 2042 2028 2029 2030 2045 2031 2032 2033 2034 2035 2036 2037 2052 2038 2039 2040 14 15 1 2 3 18 4 5 6 7 8 9 10 25 11 12 13 General Revenue $0.00079 $ General Revenue $ 0.00079 $ 2,870 $ 2,870 $ 2,870 $ 2,870 $ 2,870 $ 2,870 $ 2,870 $ 2,870 $ 2,870 $ 2,870 $ 2,769 $ 2,852 $ 2,852 Mental Health $ 0.00078 $ 2,830 $ 2,830 $ 2,830 $ 2,830 $ 2,830 $ 2,830 $ 2,830 $ 2,830 $ 2,830 $ 2,830 $ 2,730 $ 2,812 $ 2,812 Public Health $ 0.00096 $ 3,521 $ 3,521 $ 3,521 $ 3,521 $ 3,521 $ 3,521 $ 3,521 $ 3,521 $ 3,521 $ 3,521 $ 3,396 $ 3,498 $ 3,498 Senate Bill40 (CGCBDD) $ 0.00055 $ 2,020 $ 2,020 $ 2,020 $ 2,020 $ 2,020 $ 2,020 $ 2,020 $ 2,020 $ 2,020 $ 2,020 $ 1,948 $ 2,007 $ 2,007 Senior Services $ 0.00048 $ 1,753 $ 1,753 $ 1,753 $ 1,753 $ 1,753 $ 1,753 $ 1,753 $ 1,753 $ 1,753 $ 1,753 $ 1,691 $ 1,742 $ 1,742 State of Missouri $ 0.00030 $ 1,096 $ 1,096 $ 1,096 $ 1,096 $ 1,096 $ 1,096 $ 1,096 $ 1,096 $ 1,096 $ 1,096 $ 1,057 $ 1,089 $ 1,089 Surcharge $ 0.00369 $ 13,476 $ 13,476 $ 13,476 $ 13,476 $ 13,476 $ 13,476 $ 13,476 $ 13,476 $ 13,476 $ 13,476 $ 13,000 $ 13,390 $ 13,390 City -General Revenue $0.00306 $ 11,157 $ 11,157 $ 11,157 $ 11,157 $ 11,157 $ 11,157 $ 11,157 $ 11,157 $ 11,157 $ 11,157 $ 10,763 $ 11,085 $ 11,085 City- Health $ 0.00057 $ 2,089 $ 2,089 $ 2,089 $ 2,089 $ 2,089 $ 2,089 $ 2,089 $ 2,089 $ 2,089 $ 2,089 $ 2,015 $ 2,076 $ 2,076 Riverside Regional Library $ 0.00073 $ 2,659 $ 2,659 $ 2,659 $ 2,659 $ 2,659 $ 2,659 $ 2,659 $ 2,659 $ 2,659 $ 2,659 $ 2,565 $ 2,642 $ 2,642 School District#63 $0.04157 $ 151,802 $ 151,802 $ 151,802 $ 151,802 $ 151,802 $ 151,802 $ 151,802 $ 151,802 $ 151,802 $ 151,802 $ 146,438 $ 150,831 $ 150,831 Total $0.05347 $ 195,271 $ 195,271 $ 195,271 $ 195,271 $ 195,271 $ 195,271 $ 195,271 $ 195,271 $ 195,271 $ 195,271 $ 188,372 $ 194,023 $ 194,023 Steadfast City Economic & Community Partners - Cape West Plaza February 2026 Table 5 (Cont.) Estimated Real Property Taxes Paid -with Abatement in Place- by Jurisdiction (Cont.) Cape West Plaza Redevelopment Project Cape Girardeau, Missouri 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 14 15 16 17 18 19 20 21 22 23 24 25 Total (Gross) General Revenue $0.00079 $ 2,938 $ 2,938 $ 3,026 $ 3,026 $ 3,117 $ 3,117 $ 3,210 $ 3,210 $ 3,306 $ 3,306 $ 3,406 $ 3,406 $ 75,182 Mental Health $ 0.00078 $ 2,897 $ 2,897 $ 2,983 $ 2,983 $ 3,073 $ 3,073 $ 3,165 $ 3,165 $ 3,260 $ 3,260 $ 3,358 $ 3,358 $ 74,130 Public Health $ 0.00096 $ 3,603 $ 3,603 $ 3,711 $ 3,711 $ 3,822 $ 3,822 $ 3,937 $ 3,937 $ 4,055 $ 4,055 $ 4,177 $ 4,177 $ 92,208 Senate Bill 40 (CGCBDD) $ 0.00055 $ 2,067 $ 2,067 $ 2,129 $ 2,129 $ 2,193 $ 2,193 $ 2,258 $ 2,258 $ 2,326 $ 2,326 $ 2,396 $ 2,396 $ 52,895 Senior Services $ 0.00048 $ 1,794 $ 1,794 $ 1,848 $ 1,848 $ 1,903 $ 1,903 $ 1,960 $ 1,960 $ 2,019 $ 2,019 $ 2,080 $ 2,080 $ 45,913 State of Missouri $ 0.00030 $ 1,121 $ 1,121 $ 1,155 $ 1,155 $ 1,190 $ 1,190 $ 1,225 $ 1,225 $ 1,262 $ 1,262 $ 1,300 $ 1,300 $ 28,695 Surcharge $ 0.00369 $ 13,791 $ 13,791 $ 14,205 $ 14,205 $ 14,631 $ 14,631 $ 15,070 $ 15,070 $ 15,522 $ 15,522 $ 15,988 $ 15,988 $ 352,953 City -General Revenue $0.00306 $ 11,418 $ 11,418 $ 11,761 $ 11,761 $ 12,113 $ 12,113 $ 12,477 $ 12,477 $ 12,851 $ 12,851 $ 13,237 $ 13,237 $ 292,215 City - Health $0.00057 $ 2,138 $ 2,138 $ 2,202 $ 2,202 $ 2,268 $ 2,268 $ 2,336 $ 2,336 $ 2,406 $ 2,406 $ 2,478 $ 2,478 $ 54,713 Riverside Regional Library $ 0.00073 $ 2,721 $ 2,721 $ 2,803 $ 2,803 $ 2,887 $ 2,887 $ 2,973 $ 2,973 $ 3,062 $ 3,062 $ 3,154 $ 3,154 $ 69,634 School District#63 $ 0.04157 $ 155,356 $ 155,356 $ 160,017 $ 160,017 $ 164,818 $ 164,818 $ 169,762 $ 169,762 $ 174,855 $ 174,855 $ 180,101 $ 180,101 $ 3,975,937 Total 1 $0.053471 $ 199,844 1 $ 199,844 1 $ 205,839 1 $ 205,839 1 $ 212,014 1 $ 212,014 1 $ 218,375 1 $ 218,375 1 $ 224,926 1 $ 224,926 1 $ 231,674 1 $ 231,6741 $ 5,114,474 Steadfast City Economic & Community Partners - Cape West Plaza February 2026 Steadfast City Economic & Community Partners - Cape West Plaza February 2026 Table 6 (Cont.) Table 6 Estimated Real Property Taxes Estimated Real Property Taxes Paid -without Abatement in Place -by Jurisdiction (Cont.) Cape West Plaza Redevelopment Project Cape West Plaza Redevelopment Project Cape Girardeau, Missouri Cape Girardeau, Missouri 2028 2029 2030 2031 2032 2033 2034 2035 2046 2036 2037 2038 2039 2040 2051 2052 1 2 3 4 5 6 7 8 19 9 10 11 12 13 24 25 Total (Gross) General Revenue $0.00079 $ 4,777 $ 4,921 $ 4,921 $ 5,068 $ 5,068 $ 5,220 $ 5,220 $ 5,377 $ 5,377 $ 5,538 $ 5,538 $ 5,704 $ 5,704 Mental Health $ 0.00078 $ 4,710 $ 4,852 $ 4,852 $ 4,997 $ 4,997 $ 5,147 $ 5,147 $ 5,302 $ 5,302 $ 5,461 $ 5,461 $ 5,624 $ 5,624 Public Health $ 0.00096 $ 5,859 $ 6,035 $ 6,035 $ 6,216 $ 6,216 $ 6,402 $ 6,402 $ 6,594 $ 6,594 $ 6,792 $ 6,792 $ 6,996 $ 6,996 Senate Bill 40 (CGCBDD) $ 0.00055 $ 3,361 $ 3,462 $ 3,462 $ 3,566 $ 3,566 $ 3,673 $ 3,673 $ 3,783 $ 3,783 $ 3,896 $ 3,896 $ 4,013 $ 4,013 Senior Services $0.00048 $ 2,917 $ 3,005 $ 3,005 $ 3,095 $ 3,095 $ 3,188 $ 3,188 $ 3,284 $ 3,284 $ 3,382 $ 3,382 $ 3,483 $ 3,483 State of Missouri $ 0.00030 $ 1,823 $ 1,878 $ 1,878 $ 1,934 $ 1,934 $ 1,992 $ 1,992 $ 2,052 $ 2,052 $ 2,114 $ 2,114 $ 2,177 $ 2,177 Surcharge $ 0.00369 $ 22,427 $ 23,100 $ 23,100 $ 23,793 $ 23,793 $ 24,507 $ 24,507 $ 25,242 $ 25,242 $ 25,999 $ 25,999 $ 26,779 $ 26,779 City -General Revenue $0.00306 $ 18,568 $ 19,125 $ 19,125 $ 19,699 $ 19,699 $ 20,290 $ 20,290 $ 20,898 $ 20,898 $ 21,525 $ 21,525 $ 22,171 $ 22,171 City - Health $0.00057 $ 3,477 $ 3,581 $ 3,581 $ 3,688 $ 3,688 $ 3,799 $ 3,799 $ 3,913 $ 3,913 $ 4,030 $ 4,030 $ 4,151 $ 4,151 Riverside Regional Library $ 0.00073 $ 4,425 $ 4,557 $ 4,557 $ 4,694 $ 4,694 $ 4,835 $ 4,835 $ 4,980 $ 4,980 $ 5,129 $ 5,129 $ 5,283 $ 5,283 School District#63 $0.04157 $ 252,638 $ 260,217 $ 260,217 $ 268,024 $ 268,024 $ 276,065 $ 276,065 $ 284,346 $ 284,346 $ 292,877 $ 292,877 $ 301,663 $ 301,663 Total 1 $0.053471 $ 324,983 1 $ 334,732 1 $ 334,732 1 $ 344,774 1 $ 344,774 $ 355,118 $ 355,118 1 $ 365,771 1 $ 365,771 1 $ 376,744 1 $ 376,744 $ 388,047 1 $ 388,047 Steadfast City Economic & Community Partners - Cape West Plaza February 2026 Table 6 (Cont.) Estimated Real Property Taxes Paid - without Abatement in Place - by Jurisdiction (Cont.) Cape West Plaza Redevelopment Project Cape Girardeau, Missouri 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 14 15 16 17 18 19 20 21 22 23 24 25 Total (Gross) General Revenue $ 0.00079 $ 5,875 $ 5,875 $ 6,052 $ 6,052 $ 6,233 $ 6,233 $ 6,420 $ 6,420 $ 6,613 $ 6,613 $ 6,811 $ 6,811 $ 144,441 Mental Health $0.00078 $ 5,793 $ 5,793 $ 5,967 $ 5,967 $ 6,146 $ 6,146 $ 6,330 $ 6,330 $ 6,520 $ 6,520 $ 6,716 $ 6,716 $ 142,420 Public Health $ 0.00096 $ 7,206 $ 7,206 $ 7,422 $ 7,422 $ 7,645 $ 7,645 $ 7,874 $ 7,874 $ 8,110 $ 8,110 $ 8,354 $ 8,354 $ 177,152 Senate Bil140 (CGCBDD) $ 0.00055 $ 4,134 $ 4,134 $ 4,258 $ 4,258 $ 4,385 $ 4,385 $ 4,517 $ 4,517 $ 4,652 $ 4,652 $ 4,792 $ 4,792 $ 101,623 Senior Services $ 0.00048 $ 3,588 $ 3,588 $ 3,696 $ 3,696 $ 3,807 $ 3,807 $ 3,921 $ 3,921 $ 4,038 $ 4,038 $ 4,159 $ 4,159 $ 88,208 State of Missouri $ 0.00030 $ 2,242 $ 2,242 $ 2,310 $ 2,310 $ 2,379 $ 2,379 $ 2,450 $ 2,450 $ 2,524 $ 2,524 $ 2,600 $ 2,600 $ 55,130 Surcharge $ 0.00369 $ 27,583 $ 27,583 $ 28,410 $ 28,410 $ 29,263 $ 29,263 $ 30,140 $ 30,140 $ 31,045 $ 31,045 $ 31,976 $ 31,976 $ 678,102 City -General Revenue $0.00306 $ 22,836 $ 22,836 $ 23,521 $ 23,521 $ 24,227 $ 24,227 $ 24,954 $ 24,954 $ 25,702 $ 25,702 $ 26,473 $ 26,473 $ 561,410 City -Health $0.00057 $ 4,276 $ 4,276 $ 4,404 $ 4,404 $ 4,536 $ 4,536 $ 4,672 $ 4,672 $ 4,812 $ 4,812 $ 4,957 $ 4,957 $ 105,115 Riverside Regional Library $ 0.00073 $ 5,442 $ 5,442 $ 5,605 $ 5,605 $ 5,773 $ 5,773 $ 5,946 $ 5,946 $ 6,125 $ 6,125 $ 6,309 $ 6,309 $ 133,783 School District #63 $ 0.04157 $ 310,713 $ 310,713 $ 320,034 $ 320,034 $ 329,636 $ 329,636 $ 339,525 $ 339,525 $ 349,710 $ 349,710 $ 360,202 $ 360,202 $ 7,638,662 Total 1 $0.053471 $ 399,688 1 $ 399,688 1 $ 411,679 1 $ 411,679 1 $ 424,029 1 $ 424,029 1 $ 436,750 1 $ 436,750 1 $ 449,852 1 $ 449,852 1 $ 463,348 1 $ 463,348 1 $ 9,826,046 Steadfast City Economic & Community Partners - Cape West Plaza February 2026 Steadfast City Economic & Community Partners - Cape West Plaza February 2026 Table 7 Estimated Real Property Taxes Abated Estimated Real Property Taxes Abated -with Abatement in Place -by Jurisdiction - by Jurisdiction (Cont.) Cape West Plaza Redevelopment Project Project Cape Girardeau, Missouri 2041 2042 2028 2029 2044 2030 2031 2046 2032 2033 2034 2035 2036 2037 2038 2039 2040 14 15 1 2 3 4 20 5 6 7 8 9 10 11 12 13 General Revenue $0.00079 $ 2,938 $ 2,938 $ Gen eralRevenue $0.00079 $ 1,907 $ 2,050 $ 2,050 $ 2,198 $ 2,198 $ 2,350 $ 2,350 $ 2,506 $ 2,506 $ 2,668 $ 2,769 $ 2,852 $ 2,852 Mental Health $0.00078 $ 1,880 $ 2,021 $ 2,021 $ 2,167 $ 2,167 $ 2,317 $ 2,317 $ 2,471 $ 2,471 $ 2,630 $ 2,730 $ 2,812 $ 2,812 Public Health $ 0.00096 $ 2,339 $ 2,514 $ 2,514 $ 2,695 $ 2,695 $ 2,882 $ 2,882 $ 3,074 $ 3,074 $ 3,272 $ 3,396 $ 3,498 $ 3,498 Senate Bill 40 (CGCBDD) $ 0.00055 $ 1,342 $ 1,442 $ 1,442 $ 1,546 $ 1,546 $ 1,653 $ 1,653 $ 1,763 $ 1,763 $ 1,877 $ 1,948 $ 2,007 $ 2,007 Senior Services $ 0.00048 $ 1,164 $ 1,252 $ 1,252 $ 1,342 $ 1,342 $ 1,435 $ 1,435 $ 1,531 $ 1,531 $ 1,629 $ 1,691 $ 1,742 $ 1,742 State of Missouri $ 0.00030 $ 728 $ 782 $ 782 $ 839 $ 839 $ 897 $ 897 $ 957 $ 957 $ 1,018 $ 1,057 $ 1,089 $ 1,089 Surcharge $ 0.00369 $ 8,951 $ 9,624 $ 9,624 $ 10,317 $ 10,317 $ 11,031 $ 11,031 $ 11,766 $ 11,766 $ 12,524 $ 13,000 $ 13,390 $ 13,390 City - GeneralRevenue $0.00306 $ 7,411 $ 7,968 $ 7,968 $ 8,542 $ 8,542 $ 9,133 $ 9,133 $ 9,741 $ 9,741 $ 10,368 $ 10,763 $ 11,085 $ 11,085 City - Health $0.00057 $ 1,388 $ 1,492 $ 1,492 $ 1,599 $ 1,599 $ 1,710 $ 1,710 $ 1,824 $ 1,824 $ 1,941 $ 2,015 $ 2,076 $ 2,076 Riverside Regional Library $ 0.00073 $ 1,766 $ 1,899 $ 1,899 $ 2,035 $ 2,035 $ 2,176 $ 2,176 $ 2,321 $ 2,321 $ 2,471 $ 2,565 $ 2,642 $ 2,642 School District #63 $ 0.04157 $ 100,836 $ 108,415 $ 108,415 $ 116,222 $ 116,222 $ 124,263 $ 124,263 $ 132,545 $ 132,545 $ 141,075 $ 146,438 $ 150,831 $ 150,831 Total $0.05347 $ 129,712 1 $ 139,461 1 $ 139,461 1 $ 149,503 1 $ 149,503 $ 159,846 1 $ 159,846 1 $ 170,500 1 $ 170,500 $ 181,473 $ 188,372 $ 194,023 $ 194,023 Steadfast City Economic & Community Partners - Cape West Plaza February 2026 Table 7 (Cont.) Estimated Real Property Taxes Abated - with Abatement in Place - by Jurisdiction (Cont.) Cape West Plaza Redevelopment Project Cape Girardeau, Missouri 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 14 15 16 17 18 19 20 21 22 23 24 25 Total (Gross) General Revenue $0.00079 $ 2,938 $ 2,938 $ 3,026 $ 3,026 $ 3,117 $ 3,117 $ 3,210 $ 3,210 $ 3,306 $ 3,306 $ 3,406 $ 3,406 $ 69,259 Mental Health $ 0.00078 $ 2,897 $ 2,897 $ 2,983 $ 2,983 $ 3,073 $ 3,073 $ 3,165 $ 3,165 $ 3,260 $ 3,260 $ 3,358 $ 3,358 $ 68,290 Public Health $ 0.00096 $ 3,603 $ 3,603 $ 3,711 $ 3,711 $ 3,822 $ 3,822 $ 3,937 $ 3,937 $ 4,055 $ 4,055 $ 4,177 $ 4,177 $ 84,944 Senate Bill40 (CGCBDD) $ 0.00055 $ 2,067 $ 2,067 $ 2,129 $ 2,129 $ 2,193 $ 2,193 $ 2,258 $ 2,258 $ 2,326 $ 2,326 $ 2,396 $ 2,396 $ 48,728 Senior Services $ 0.00048 $ 1,794 $ 1,794 $ 1,848 $ 1,848 $ 1,903 $ 1,903 $ 1,960 $ 1,960 $ 2,019 $ 2,019 $ 2,080 $ 2,080 $ 42,296 State of Missouri $ 0.00030 $ 1,121 $ 1,121 $ 1,155 $ 1,155 $ 1,190 $ 1,190 $ 1,225 $ 1,225 $ 1,262 $ 1,262 $ 1,300 $ 1,300 $ 26,435 Surcharge $ 0.00369 $ 13,791 $ 13,791 $ 14,205 $ 14,205 $ 14,631 $ 14,631 $ 15,070 $ 15,070 $ 15,522 $ 15,522 $ 15,988 $ 15,988 $ 325,148 City- GeneralRevenue $0.00306 $ 11,418 $ 11,418 $ 11,761 $ 11,761 $ 12,113 $ 12,113 $ 12,477 $ 12,477 $ 12,851 $ 12,851 $ 13,237 $ 13,237 $ 269,194 City -Health $0.00057 $ 2,138 $ 2,138 $ 2,202 $ 2,202 $ 2,268 $ 2,268 $ 2,336 $ 2,336 $ 2,406 $ 2,406 $ 2,478 $ 2,478 $ 50,402 Riverside Regional Library $ 0.00073 $ 2,721 $ 2,721 $ 2,803 $ 2,803 $ 2,887 $ 2,887 $ 2,973 $ 2,973 $ 3,062 $ 3,062 $ 3,154 $ 3,154 $ 64,148 School District #63 $ 0.04157 $ 155,356 $ 155,356 $ 160,017 $ 160,017 $ 164,818 $ 164,818 $ 169,762 $ 169,762 $ 174,855 $ 174,855 $ 180,101 $ 180,101 $ 3,662,719 Total $0.05347 $ 199,844 $ 199,844 $ 205,839 $ 205,839 $ 212,014 $ 212,014 $ 218,375 $ 218,375 $ 224,926 $ 224,926 $ 231,674 1 $ 231,6741 $ 4,711,564 Steadfast City Economic & Community Partners - Cape West Plaza February 2026 Staff: Ryan Shrimplin, City Planner Agenda: March 2, 2026 TITLE AGENDA REPORT Cape Girardeau City Council BILL NO. 26-18, an Ordinance amending Chapter 30 of the Code of Ordinances of the City of Cape Girardeau, Missouri, by changing the zoning of property located at 803 Independence Street, in the City and County of Cape Girardeau, Missouri, from C-1 to R-4. First Reading. DEV - Ryan Shrimplin SUMMARY A rezoning application has been submitted for the property at 803 Independence Street. The applicant is requesting that the property be rezoned from C-1 (General Commercial District) to R-4 (Medium Density Multifamily Residential District). The immediately surrounding properties are zoned C-1 (General Commercial District) on all sides. This area is characterized by commercial and residential uses. The Cape Vision 2040 Comprehensive Plan's Future Land Use Map shows the subject property as Local Commercial. The attached ordinance rezones the property to R-4. A public hearing on the rezoning request was held on March 2, 2026. SUSTAINABILITY: ECONOMIC, ENVIRONMENTAL AND SOCIAL IMPACTS In considering a rezoning request, the Planning & Zoning Commission and the City Council must determine if the proposed zoning district is reasonable and in reasonable conformity with the existing uses and value of the immediately surrounding properties. The subject property contained a single- family dwelling until 2018 when it was demolished after being condemned. Since then, the property has been vacant. It is currently for sale, and a prospective buyer would like to build a single-family dwelling on it. Dwellings are not permitted in the C-1 district (the previous single-family dwelling was a nonconforming use). The property has frontage on Independence Street. A majority of the properties fronting on Independence Street are zoned commercial. However, there are several residential properties along the street. While its location makes the property suitable for commercial use, its size does not (less than 0.20 acre). In order to develop the property for a commercial use, the developer would have to provide a parking lot and a stormwater management system, which would leave little room for the building. Developing the property for a single-family dwelling requires much less parking and no stormwater management system. With the exception of the adjacent residential property to the south and the vacant lot to the east, the rest of the properties on this block of South Ellis Street are zoned R-4. Given the property's use history (as a residence), its physical characteristics (which pose challenges for developing it for commercial use), and its context (a mix of uses along Independence Street and nearby R-4 zoning), the proposed zoning district is reasonable and in reasonable conformity with the existing uses and value of the immediately surrounding properties. STAFF RECOMMENDATION The staff report to the Planning & Zoning Commission recommended approval of the rezoning request. BOARD OR COMMISSION RECOMMENDATION The Planning & Zoning Commission held a public hearing at its February 11, 2026 meeting and recommended approval of the rezoning request by a vote of 7 in favor, 0 in opposition, and 0 abstaining. PUBLIC OUTREACH The City Council's public hearing was advertised in the Southeast Missourian on February 14, 2026. In addition, a sign displaying the date, time, location, and subject of the Planning & Zoning Commission and City Council public hearings was posted on the property. Notices were also mailed to the adjacent property owners. ATTACHMENTS • 26-18_803_Independence_Rezone.doc • Staff Review -Referral -Action Form.pdf • Map - Zoning - 803 Independence Street.pdf • Map - FLU - 803 Independence Street.pdf • Application - 803 Independence Street - Rezoning.pdf • Sec. 30-66. - C-1, General Commercial District.pdf • Sec. 30-60. - R-4, Medium Density Multifamily Residential District.pdf BILL NO. 26-18 ORDINANCE NO. AN ORDINANCE AMENDING CHAPTER 30 OF THE CODE OF ORDINANCES OF THE CITY OF CAPE GIRARDEAU, MISSOURI, BY CHANGING THE ZONING OF PROPERTY LOCATED AT 803 INDEPENDENCE STREET, IN THE CITY AND COUNTY OF CAPE GIRARDEAU, MISSOURI, FROM C-1 TO R-4 WHEREAS, the City Planning and Zoning Commission has recommended rezoning all of the property described in Article 1 of this ordinance from C-1, General Commercial District to R-4, Medium Density Multifamily Residential District; and WHEREAS, Public Notice of such change was given as prescribed in Chapter 30 of the Code of Ordinances of the City of Cape Girardeau, Missouri, and a public hearing was held on Monday, March 2, 2026; and WHEREAS, the City Council of the City of Cape Girardeau, Missouri has elected to rezone the property described in Article 1 of this ordinance from C-1, General Commercial District to R-4, Medium Density Multifamily Residential District. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU, MISSOURI, AS FOLLOWS: ARTICLE 1. Chapter 30 of City of Cape Girardeau, Missouri the zoning from the present C-1, R-4, Medium Density Multifamily following described property: 803 Independence Street the Code of Ordinances of the is hereby amended to change General Commercial District to Residential District, for the The North 88 feet of Lots Nineteen (19) and Twenty (20) in Range "B" of the Painter Partition of City Lots Numbered 42 and 43 in Range "B", City and County of Cape Girardeau, Missouri, as shown by plat recorded in Plat Book 3 at Page 46, particularly described as follows: Begin at the Northeast corner of said Lot 20 in Range "B" which is the point of intersection of the South line of Independence Street with the West line of Ellis Street; thence South along the West line of Ellis Street, 88 feet; thence West, parallel with Independence Street, 90 feet to the West line of said 1 Lot 19, Range "B"; thence North parallel with Ellis Street and along the West line of said Lot 19, 88 feet to the South line of Independence Street; thence East, along the South line of Independence Street, 90 feet to the place of beginning. ARTICLE 2. The City Council hereby finds and declares that the property described in Article 1 of this ordinance is at the present time particularly suitable for the purposes and uses of the R-4, Medium Density Multifamily Residential District, and that such changes authorized hereby are reasonable and in reasonable conformity with the existing uses and value of the immediately surrounding properties. ARTICLE 3. This ordinance shall be in full force and effect ten days after its passage and approval. PASSED AND APPROVED THIS day of Stacy Kinder, Mayor ATTEST: Courtney Davis, Deputy City Clerk 2 WAINXII N CITY OF CAPE GIRARDEAU, MISSOURI City Staff Review, Referral and Action on Rezoning/Special Use Permit Application FILE NO. 1493 LOCATION: 803 Independence Street STAFF REVIEW & COMMENTS: Cobret Joe is requesting to rezone property at 803 Independence Street from C-1 (General Commercial District) to R-4 (Medium Density Multi -family Residential District). SEE STAFF REPORT FOR FURTHER INFORMATION City Planner c% Date City Date CITY MANAGER REFERRAL TO THE PLANNING AND ZONING COMMISSION: City Date V Planning & Zoning Commission Public Hearing Sign Posting Date: Public Hearing Date: RECOMMENDED ACTION: Favgr Oppose Abstain Fa vgr Oppose Abstain Trae Bertrand Li Li Jones I+� ❑ ❑ Scott Blank ❑ ❑ ❑ Chris Martin ❑ ❑ Robbie Guard ❑,❑ ❑ Nick Martin ❑ ❑ Blake Hagedorn ❑�. ❑ ❑ Emily McElreath ❑ ❑ Derek Jackson C ❑ ❑ VOTE COUNT: Favor Q Oppose Abstain COMMENTS: CITIZENS COMMENTING AT MEETING: Chris Martin Planning & Zoning Commission Secretary City Council Action Posting Dates: Sign Newspaper Public Hearing Date: Ordinance I" Reading Ordinance 2nd & 3Yd Reading: VOTE COUNT: Favor Oppose Abstain ORDINANCE # Effective Date: Rezoning Request 803 Independence Street Rezoning Request 803 Independence Street REZONING / SPECIAL USE PERMIT APPLICATION CITY of CAPE GIRARDEAU COMMUNITY DEVELOPMENT DEPARTMENT, 44 NORTH LORIMIER STREET, CAPE GIRARDEAU, MO 63701 (573) 339-6327 scnL Property Address/Location 803 Independence St. Cape Girardeau, MO 63703 Applicant Property Owner of Record U Same as Applicant Cobret Joe Rick Morgan Mailing Address City, State, Zip Mailing Address City, State, Zip 227 S. Spanish St. Cape Girardeau, MO 63703 3075 State Highway Y. Jackson, MO 63755 Telephone Email Telephone Email 857-719-9371 CobretJoe@Gmail.com 573-450-1849 Contact Person (Attach additional owners information, if necessary) Cobret Joe T pe of Request Proposed Special Use (Special Use Permit requests only) Rezoning U Special Use Permit U Both Existing Zoning District Proposed Zoning District (Rezoning requests only) Choose a Zoning District f , Choose a Zoning District RA Legal description of property to be rezoned and/or upon which the special use is to be conducted The North 88 feet of Lots Nineteen (19) and Twenty (20) in Range "B" of the Painter Partition of City Lots Numbered 42 and 43 in Range "B", City and County of Cape Girardeau, Missouri, as shown by plat recorded in Plat Book 3 at Page 46, particularly described as follows: Begin at the Northeast comer of said Lot 20 in Range "B" which is the point of intersection of the South line of Independence Street with the West line of Ellis Street; thence South along the West line of Ellis Street, 88 feet; thence West, parallel with Independence Street, 90 feet to the West line of said Lot 19, Range 'B"; thence North parallel with Ellis Street and along the West line of said Lot 19, 88 feet to the South line of Independence Street; thence East, along the South line of Independence Street, 90 feet to the place of beginning. ( Parcel Number: 21-106-00-31-001.00-000) Describe the proposed use of the property. Proposed Structure: A contemporary, architecturally sensitive single-family home. The design will feature clean lines, durable, attractive materials, and a focus on maximizing natural light. This will be a single slope design with high ceilings and an aesthetically pleasing exterior. Outside of traditional site preparation, the structure of the high hills and the surrounding area will not be affected. The R-4 classification is requested to provide the necessary flexibility for a modern, compact footprint that is highly compatible with the diverse, mixed-use character of the surrounding independence Street corridor and the adiacent residential neighborhood. The proposed modem single-family home is intended to be a constructive addition to the neighborhood, enhancing the streetscape and contributing positively to the City's housing stock. The design will be carefully considered to ensure it complements the scale and massing of the adjacent structures. Infill Development and Highest/Best Use: The lot, given its dimensions and immediate proximity to established residential areas, is optimally suited for infill housing rather than new commercial development, which could pose challenges related to parking, traffic flow, and neighborhood compatibility. I'll provide more details if needed. Application continues on next page OFFICE USE ONLY Date Received & By I i — 21' •26r File # ,3 MUNIS Application # 1`14-1 MUNIS Permit #. Application Fee Received $ .®� U Check # U Credit Card 911cash Planning & Zoning Commission Recommendation Date City Council Final Action Date Revised 07/01/25 Special Use Criteria (Special Use Permit requests only) Explain how the special use permit request meets the criteria below. Attach additional sheets, if necessary. 1) The proposed special use will not substantially increase traffic hazards or congestion. 2) The proposed special use will not substantially increase fire hazards. 3) The proposed special use will not adversely affect the character of the neighborhood. 4) The proposed special use will not adversely affect the general welfare of the community. 5) The proposed special use will not overtax public utilities. ADDITIONAL ITEMS in addition to this completed application form, the following items must be submitted: REQUIRED Base Application fee - $155.00 payable to City of Cape Girardeau Planned Development rezoning only - Additional $92 payable to City of Cape Girardeau List of adjacent property owners (see Instructionsfor requirernents) See Instructions for more One (1) set of mailing envelopes, stamped and addressed to adjacent property owners OR information. $3.00 per adjacent property owner, 'if stamped envelopes are not submitted One (1) full size copy of a plat or survey of the property, if available One (1) full size set of plans, drawn to an appropriate scale, depicting existing features to be removed.. existing features to remain, and all proposed features such as: buildings and structures, paved areas, curbing, driveways, parking stalls, trash enclosures, fences, retaining walls, light poles, detention banns, landscaping areas, freestanding sign -s,, etc. (Planned Development rezonings and Special Use Permits only) One (1) set of Planned Development documents (Planned Develoement rezonings only) "OWN L The undersigned hereby certifies that: 1) They are the Property Owner(s) of Record for the property described in this application; 2) They acknowledge that the special use permit if approved, will become null and void if the use for which the permit was granted does not commence within twelve (1 2) months of the approval date, unless an extension has been granted; and 3) They acknowledge that they are responsible for ensuring that all required licenses and permits are obtained prior to commencing any use or work on the property. Property Owner of Record Signature and Printed Name Date 'Provide additional owners signatures and printed names in the space below, if applicable) The undersigned hereby certifies that they are an agent duly authorized by the Property Owner(s) of Record to file this application on their behalf,Land that operty Owner(s) of Record hereby agree to the above certifications. Applican&gr);rture and Printed Name Date Revised 07/01/25 cn LIJw z to o w V ��- z cr- w w a ® 0 w o� CL LU M z Z w rH � 0 0 0 m 0 N �o Qo (.a (.0 I'D M QD 0 0 0 0 0 a a a a w w w w 0 0 0 0 O w w w w to V V V V LU Q a Z a o co 0 w z o o'- 0 <z J a d-. m O d- oo V z C) w W z Ln � a oo rH o0 � V J z -' OC W z o G~C uww 0 = W G a a o U I- Li.i W z�uLU>- Z z U- 0 _J w V -� Ln z 0 a a w F'- z W (~ w > LL, a W V —� J LL 5 a F- V) W 0 — Q 0 � F- V) W V w o Z W a. O z -- F- un � J w z V w z CL w z W cn �' V) J w cn � F- cn U W M w w z Ln o ,« .n �-- �q » �� \:- )) � x ( � — - | | _ ° y � sz 25' , 2 2 ----- -� -- — � SELLISST -�— -- — - --- � — - . aE - mo ■ ! § 2 § ~ § / / ( § § ; / � k § ° z ..« Ko PLAN i | � ( § � | )) Sec. 30-66. - C-1, General Commercial District. (a) Purpose. The C-1 district is primarily intended for areas of the city located along minor thoroughfares and adjacent to residential districts. Appropriate uses for this district include commercial developments not requiring long-term outdoor display of merchandise, as well as certain governmental, institutional, and community service facilities. Other uses having the potential to significantly affect adjacent residential districts may be allowed with approval of a special use permit. (b) Permitted principal uses. (1) Art galleries or museums. (2) Banks or other financial institutions. (3) Bed and breakfasts. (4) Commercial day cares. (5) Commercial recreation facilities, excluding driving ranges or outdoor shooting or racing. (6) Comprehensive marijuana dispensary facilities, medical marijuana dispensary facilities, or microbusiness dispensary facilities, as permitted in section 30-118. (7) Funeral homes or mortuaries. (8) Governmental facilities. (9) Health or fitness centers. (10) Institutions of higher education, including business, career or technology schools. (11) Instructional schools for art, dance, music, martial arts or other disciplines. (12) Libraries. (13) Microbreweries. (14) Middle schools, secondary schools, or development centers for people with physical, mental or developmental disabilities. (15) Nurseries or greenhouses. (16) Nursing homes. (17) Offices. (18) Parks or playgrounds. (19) Personal service establishments. (20) Pet grooming facilities, excluding kennels. (21) Police or fire stations. (22) Residential treatment facilities. (23) Restaurants or bars. (24) Retail or rental establishments, excluding the sale or rental of outbuildings, vehicles, or large agricultural or construction equipment. (25) Television or radio studios, including any transmitting facilities. (26) Transit terminals. (27) Veterinary clinics or animal hospitals, excluding livestock. (28) Wineries. (c) Permitted accessory uses. (1) Accessory structures and uses customarily incidental to the above uses, as permitted in section 30-106. (2) Short-term use of shipping containers for accessory uses, as permitted in section 30-105. (3) Solar energy systems, as permitted in section 30-113. (d) Special uses. (1) Banquet facilities. (2) Hotels or motels. (3) Kennels. (4) Long-term use of shipping containers for accessory uses, as permitted in section 30-105. (5) Meeting halls. (6) Mini warehouses or self -storage units. (7) Public utilities, except for buildings or accessory structures that are normal and customary in a zoning district which would allow other buildings or structures of the same nature as a use - by -right. (8) Short-term or long-term use of shipping containers for principal uses, as permitted in section 30-105. (9) Telecommunication towers, as permitted in section 30-107. (10) The allowance of additional height up to a total of 60 feet, not to exceed a total of five stories. (11) Transitional housing. (12) Uses involving the sale or rental of outbuildings, vehicles, or large agricultural or construction equipment. (13) Vehicle fueling, service or repair facilities, excluding body or paint shops. (14) Vehicle washing facilities, including automatic or hand wash. (15) Wind energy conversion systems, as permitted in section 30-113. (e) Standards. (1) All storage of merchandise, materials, products or equipment shall be within a fully enclosed building or in an open yard so screened that the items being stored are not visible from the street or any adjacent property. (2) Outdoor display of merchandise is prohibited, except as follows: Merchandise may be displayed outdoors as part of a temporary use, as permitted in section 30-109. Nursery stock, accessory landscaping decorations, and seasonal and holiday decorations may also be displayed outdoors during the appropriate season. Such displays are permitted in accordance with the following provisions: a. Displays shall not be located in a right-of-way. b. Displays shall not be located in parking spaces used to meet the minimum number of parking spaces as required elsewhere in the city Code. Displays that are part of a bazaar, craft sale, garage or yard sale, or similar temporary event are exempt from this requirement, as determined by the city manager. c. Displays shall not impede vehicular or pedestrian access. d. Displays shall not alter the structure of any building. e. Displays shall not create a health or safety hazard. f. Displays shall be well kept and orderly. g. Signs may be displayed as permitted elsewhere in the city Code. h. The display of seasonal items shall be limited to a time period that is customary for the season associated with the display, which shall be at the discretion of the city manager. (3) Outdoor service areas and equipment such as loading docks, mechanical equipment, storage areas or waste containers shall be located in the rear or side yard and screened as required elsewhere in the city Code. (f) Height, area, width, setback and open space requirements. (1) Maximum height: 40 feet, not to exceed three stories. (2) Minimum lot area: None. (3) Minimum lot width: None. (4) Minimum setbacks: a. Front yard: 25 feet. b. Rear yard: None, except 20 feet when adjacent to a residential use or district, or ten feet when adjacent to an agricultural use or district. c. Side yard: None, except 20 feet when adjacent to a residential use or district, or ten feet when adjacent to an agricultural use or district. (5) Minimum open space: 15 percent of the lot area. (Code 1990, § 30-333; Ord. No. 5211, art. 4, 7-15-2019; Ord. No. 5615, art. 3, 2-6-2023) Sec. 30-60. - R-4, Medium Density Multifamily Residential District. (a) Purpose. The R-4 district provides for multifamily dwellings and other residential uses with a maximum density of 20 units per one acre. Single-family detached and two-family (duplex) dwellings are permitted in order to accommodate existing R-4 zoned lots that either contain such uses or are not large enough to be developed for multifamily dwellings. It is not intended for new single-family detached or two-family subdivisions, which are prohibited. (b) Permitted principal uses. (1) Single-family detached dwellings, with only one dwelling per lot, and excluding new single- family detached subdivisions. (2) Two-family (duplex) dwellings, excluding new two-family subdivisions. (3) Multifamily dwellings. (4) Townhouses. (5) Cluster subdivisions, as permitted elsewhere in the city Code. (6) Nursing homes, senior citizen housing and retirement homes. (7) Noncommercial, not-for-profit residential neighborhood facilities consisting of indoor and/or outdoor recreational facilities, offices of property owners' associations, and maintenance facilities operated by a neighborhood or community organization or a property owners' association. (8) Public parks, playgrounds, and recreational facilities. (9) Police and fire stations. (10) Elementary, middle and secondary schools, and development centers for elementary, middle and secondary school age children with physical, mental or developmental disabilities. (11) Commercial day cares. (c) Permitted accessory uses. (1) Private garages, carports and accessory structures, as permitted in section 30-106. (2) Home occupations, as permitted in section 30-108. (3) Solar energy systems, as permitted in section 30-113. (4) Short-term use of shipping containers for accessory uses, as permitted in section 30-105. (d) Special uses. (1) Bed and breakfasts. (2) Boutique hotels. The term "boutique hotel" shall mean an establishment containing a minimum of five and a maximum of 20 rooming units, which is used or advertised as a place where lodging accommodations are supplied for pay to guests for lodging occupancy with rooms having access to the outside through an interior hallway connected to the main lobby of the building, and which may provide additional services such as restaurants, meeting rooms, entertainment and recreational facilities. (3) Cemeteries, on a minimum of ten acres of land. (4) Long-term use of shipping containers for accessory uses, as permitted in section 30-105. (5) Public utilities, except for buildings and accessory structures that are normal and customary in a zoning district which would allow other buildings of the same nature as a use -by -right. (6) Residential treatment facilities. (7) Transitional housing. (8) Wind energy conversion systems, as permitted in section 30-113. (e) Height, area, bulk and setback regulations. (1) Maximum height: Five stories not to exceed 60 feet. (2) Minimum lot area: a. Each townhouse must be on a separate platted lot consisting of at least 1,400 square feet. b. All other uses: 3,750 square feet. (3) Maximum density: 20 units per one acre. Higher densities may be approved with a cluster subdivision, as permitted elsewhere in the city Code. (4) Minimum lot width: a. Each townhouse: 20 feet. b. All other uses: None. (5) Minimum yard requirements: a. Front yard: 1. Each townhouse: Ten feet. 2. All other uses: 25 feet. b. Rear yard: 1. Each townhouse: 20 feet. 2. All other uses: 25 feet. c. Side yard: 1. Each townhouse: None. 2. All other uses: Five feet. (6) Maximum building coverage, including accessory buildings: 50 percent of the lot for all uses except townhouses. (7) Open space requirements. For any multifamily residential uses or nonresidential uses, a minimum of 20 percent of the total lot area shall be devoted to open space, including required yards and bufferyards. (f) Parking regulations. Off-street parking and loading spaces shall be provided in accordance with the requirements for specific uses set forth in chapter 25, article II of this Code. There shall be no parking, stopping, or standing of trucks or commercial motor vehicles licensed for a gross weight in excess of 24,000 pounds, except as provided in sections 26-148 and 26-298. (Code 1990, § 30-325; Ord. No. 5012, art. 4,10-2-2017; Ord. No. 5550, art. 1, 6-20-2022; Ord. No. 5635, art. 1, 4-17-2023; Ord. No. 5864, art. 1, 9-15-2025) Staff: Ryan Shrimplin, City Planner Agenda: March 2, 2026 TITLE AGENDA REPORT Cape Girardeau City Council BILL NO. 26-19, an Ordinance approving the record plat of Q's Corner Subdivision. First Reading. DEV - Ryan Shrimplin SUMMARY A record plat has been submitted for Q's Corner Subdivision, located at 803 Independence Street. The proposed subdivision is pending rezoning to R-4, Medium Density Multifamily Residential District. The plat combines two partial lots to create one new lot. A variance is being requested for a reduced rear setback (25 feet required; 15 feet proposed). Staff supports the variance because more than half of the lot width is encumbered by setbacks. In addition, an exception is being requested for the omission of the required 10 -foot utility easement along the rear lot line. Staff supports the exception because there are no existing or proposed utility main or primary lines in the area where the easement is required. STAFF RECOMMENDATION The staff report to the Planning & Zoning Commission recommended approval of the record plat. BOARD OR COMMISSION RECOMMENDATION The Planning & Zoning Commission, at its February 11, 2026 meeting, recommended approval of the record plat by a vote of 7 in favor, 0 in opposition, and 0 abstaining. ATTACHMENTS • 26-19_RP_Q's Corner Sub.doc • Staff Review -Referral -Action Form.pdf • Map - Q's Corner Subdivision.pdf • Application.pdf • Q's Corner Signed.pdf BILL NO. 26-19 ORDINANCE NO. AN ORDINANCE APPROVING THE RECORD PLAT OF Q'S CORNER SUBDIVISION BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU, MISSOURI, AS FOLLOWS: ARTICLE 1. The record plat of Q'S Corner Subdivision, being the North 88 Feet of Lots 19 and 20 in range "B" of the Painter Partition of City Lots numbered 42 and 43 in Range "B", as shown by Plat recorded in Plat Book 3, at Page 46, in the Land Records of Cape Girardeau County, Missouri, in the City and County of Cape Girardeau, State Of Missouri, submitted by The Estate of Robert M. Aubuchon, bearing the certification of Rodney W. Amos, a Registered Land Surveyor, dated the 4th Day of February, 2026, is hereby approved. ARTICLE 2. The City Clerk is hereby directed to sign the record plat with the date of Council approval and affix thereto the seal of the City of Cape Girardeau, Missouri. ARTICLE 3. This ordinance shall be in full force and effect ten days after its passage and approval. PASSED AND APPROVED THIS day of Stacy Kinder, Mayor ATTEST: Courtney Davis, Deputy City Clerk 2026. CITY OF CAPE GIRARDEAU, MISSOURI City Staff Review, Referral and Action - Subdivision Application FILE: Q's Corner Subdivision LOCATION: SW Corner of Independence Street & South Ellis Street STAFF REVIEW & COMMENTS: A record plat has been submitted to combine two new lots into one lot at the southwest corner of Independence Street and South Ellis Street. SEE STAFF REPORT FOR MORE DETAILS. City Planner t /" Z- �' , City Attorney Da e '?,12,/Z Date City Manager L-01 1 tuiiicric"5 ax Ziviuicg wiiciicc� �ivii RECOMMENDED ACTION. COMMENTS: CITIZENS COMMENTING AT MEETING: Chris Martin Planning & Zoning Commission Secretary City Council Action Ordinance I" Reading Ordinance 2"d & 3 Reading: ORDINANCE # Effective Date: Fav r Oppose Abstain Favor Oppose Abstain Trae Bertrand ❑ ❑ Gerry Jones 19 . ❑ ❑ Scott Blank ❑ ❑ ❑ Chris Martin i . ❑ ❑ Robbie Guard ❑ ❑ ❑ Nick Martin ir ❑ ❑ Blake Hagedorn ❑ ❑ Emily McElreath mo" ❑ ❑ Derek Jackson ❑ ❑ VOTE COUNT: r l Favor (l Oppose Abstain COMMENTS: CITIZENS COMMENTING AT MEETING: Chris Martin Planning & Zoning Commission Secretary City Council Action Ordinance I" Reading Ordinance 2"d & 3 Reading: ORDINANCE # Effective Date: Q's Corner Subdivision 06�— SUBDIVISION PLAT APPLICATION CITY Of CAPE GIRARDEAU COMMUNITY DEVELOPMENT DEPARTMENT, 44 NORTH LORIMIER STREET, CAPE GIRARDEAU, MO 63701 (573) 339-6327 Name of Subdivision Type of Plat Q'S CORNER SUBDIVISION Q(Record ❑ Preliminary ❑ Boundary Adjustment Applicant Property Owner of Record ❑ Same as Applicant RICK MORGAN ROBERT AUBOCHON (deceased) Mailing Address City, State, Zip Mailing Address City, State, Zip- ip3075 3075STATE HIGHWAY Y JACKSON, MO 63755 Telephone Email Telephone Email Morganrick556@gmail.com Contact Person (if Applicant is a Business or Organization) (Attach additional owners information, if necessary) Professional Engineer/Surveyor (if other than Applicant) Developer (if other than Applicant) RODNEY W. AMOS, PLS Mailing Address City, State, Zip Mailing Address City, State, Zip 113 W. MAIN ST., SUITE 1 JACKSON, MO 63755 Telephone Email Telephone Email 573-243-4080 ramos@stricklandengineering.com ADDITIONAL ITEMS REQUIRED See Instructions for more information. CERTIFICATION In addition to this completed application form, the following items must be submitted: Review Fee (payable to City of Cape Girardeau) $23.00 per lot ($230.00 minimum) Recording Fee Deposit (payable to City of Cape Girardeau) Sheet Size Record Plat Boundary Adiustment Plat 18" x 24" $46.00 $26.00 24" x 36" $71.00 $31.00 (The City reserves the right to issue a partial refund or collect an additional fee if the actual recording cost differs from the deposit amount) One (1) full size print of the plat _ Digital file of the plat in .pdf format (can be emailed to cityplannins@cityofcape.or�) Completed minimum requirements checklist I hereby certify that I am the sole Property Owner of Record or an agent duly authorized by the Property Owner(s) of Record to file this application on their behalf. Furthermore, I hereby acknowledge that the plat submitted with this application must meet certain requirements in order to be approved including, but not limited to: a) successfully addressing all review comments, and b) any and all new public improvements for the subdivision being completed and/or covered under a performance guarantee agreement in accordance with the City's Code of Ordinances. If I am an agent, I hereby certify that I have notified the Property Owner(s) of Record and the develo ese requirements. Applicant Signature and Print d Name Date OFFICE USE ONLY / // Date Received & By i / 14 Lq' .' File # Review Fee Received $ Recording Fee Received $, Preliminary and Record Plats: Planning & Zoning Commission Recommendation Date MUNIS Application # 1 76-- 1 � MUNIS Permit #_ ❑ Check # ❑ Credit Card ❑ Cash City Council Final Action Date Revised 07/01/25 Staff: Ryan Shrimplin, City Planner AGENDA REPORT Agenda: March 2, 2026 Cape Girardeau City Council TITLE BILL NO. 26-20, an Ordinance approving the record plat of Broadview On The Hill. First Reading. DEV - Ryan Shrimplin SUMMARY A record plat has been submitted for Broadview On The Hill, located at 110 South Broadview Street. The proposed subdivision is zoned C-2 (Highway Commercial District). The plat resubdivides two lots to create two new lots. The plat shows an exception for the omission of the required 10 -foot utility easement along the rear lot lines of Lots 1 and 2. Staff supports the exception because there are no existing or proposed utility main or primary lines in the areas where the easement is required. STAFF RECOMMENDATION The staff report to the Planning & Zoning Commission recommended approval of the record plat. BOARD OR COMMISSION RECOMMENDATION The Planning & Zoning Commission, at its February 11, 2026 meeting, recommended approval of the record plat by a vote of 7 in favor, 0 in opposition, and 0 abstaining. ATTACHMENTS • 26-20_Broadview_on_the Hill.doc • Staff Review -Referral -Action Form.pdf • Map - Broadview On The Hill Subdivision.pdf • Application - Broadview on the Hill Record Plat.pdf • 20260112 Broadview on the Hill Subdivision Plat for Review.pdf BILL NO. 26-20 ORDINANCE NO. AN ORDINANCE APPROVING THE RECORD PLAT OF BROADVIEW ON THE HILL BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU, MISSOURI, AS FOLLOWS: ARTICLE 1. The record plat of Broadview On The Hill, being a resubdivision of Part of Lots 1 and 2 of A Resubdivision of Lot 21 of Independence West Commercial Subdivision, as Recorded in Plat Book 15 at Page No. 44 of the Land Records of the County Recorder's Office and Being a Part of Outlot No. 81, U.S.P.S. No. 2199, Township 30 North, Range 13 East of the Fifth Principal Meridian, City and County of Cape Girardeau, State Of Missouri, submitted by Ritter Southeast Holdings LLC, bearing the certification of R. Christopher Bowen, a Registered Land Surveyor, dated the 12th Day of February, 2026, is hereby approved. ARTICLE 2. The City Clerk is hereby directed to sign the record plat with the date of Council approval and affix thereto the seal of the City of Cape Girardeau, Missouri. ARTICLE 3. This ordinance shall be in full force and effect ten days after its passage and approval. PASSED AND APPROVED THIS day of , 2026. Stacy Kinder, Mayor ATTEST: Courtney Davis, Deputy City Clerk CITY OF CAPE GIRARDEAU, MISSOURI City Staff Review, Referral and Action - Subdivision Application FILE: Broadview On The Hill Subdivision LOCATION: 110 South Broadview STAFF REVIEW & COMMENTS: A record plat has been submitted to reconfigure two lots at 110 South Broadview Street. SEE STAFF REPORT FOR MORE DETAILS. City Pl er City Attorney 113 6 Date _?_ 4/ Date RECOMMENDED ACTION: COMMENTS: CITIZENS COMMENTING AT MEETING: Favor Oppose Abstain Gerry Jones ❑ ❑ Chris Martin ❑ ❑ Nick Martin ❑ ❑ Emily McElreath ❑ ❑ V Oppose Abstain Chris Martin Planning & Zoning Commission Secretary City Council Action Ordinance I" Reading Ordinance 2"d & 3' Reading: ORDINANCE # Effective Date: Fav Oppose Abstain Trae Bertrand ❑ ❑ Scott Blank ❑ ❑ ❑ Robbie Guard ❑ ❑ ❑ Blake Hagedorn ❑ ❑ Derek Jackson ❑ ❑ �—/ VOTE COUNT: 1 Favor COMMENTS: CITIZENS COMMENTING AT MEETING: Favor Oppose Abstain Gerry Jones ❑ ❑ Chris Martin ❑ ❑ Nick Martin ❑ ❑ Emily McElreath ❑ ❑ V Oppose Abstain Chris Martin Planning & Zoning Commission Secretary City Council Action Ordinance I" Reading Ordinance 2"d & 3' Reading: ORDINANCE # Effective Date: Broadview On The Hill Subdivision SUBDIVISION PLAT APPLICATION pQe ey 4 CITY of CAPE GIRARDEAU "R COMMUNITY DEVELOPMENT DEPARTMENT, 44 NORTH LORIMIER STREET, CAPE GIRARDEAU, MO 63701 (573) 339-6327 ssa Name of Subdivision Broadview On The Hill Type of Plat 19 Record ❑ Preliminary ❑ Boundary Adjustment Applicant Bowen Engineering & Surveying Property Owner of Record ❑ Same as Applicant Ritter Southeast Holdings LLC (Carl Ritter Jr) Mailing Address 2121 Megan Dr City, State, Zip Cape Girardeau, MO 63701 Mailing Address 1558 Sloan Creek Dr City, State, Zip Cape Girardeau, MO 63701 Telephone 573-339-5900 Email ryanbrase@bowenengsurv.com Telephone 573-986-8290 Email carl_ritter@hotmaii.com Contact Person (if Applicant is a Business or Organization) Ryan Brase (Attach additional owners information, if necessary) Professional Engineer/Surveyor (if other than Applicant) Developer (if other than Applicant) Mailing Address City, State, Zip Mailing Address City, State, Zip Telephone Email Telephone Email ADDITIONAL ITEMS In addition to this completed application form, the following items must be submitted: REQUIRED j Review Fee (payable to City of Cape Girardeau) $23.00 per lot ($230.00 minimum) 7 Recording Fee Deposit (payable to City of Cape Girardeau) See Instructions for more Sheet Size Record Plat Boundary Adjustment Plat information. 18" x 24" $46.00 $26.00 24" x 36" $71.00 $31.00 (The City reserves the right to issue a partial refund or collect an additional fee if the actual recording cost differs from the deposit amount) One (1) full size print of the plat Digital file of the plat in .pdf format (can be emailed to cit_yplanninR@cityofcape.org) Completed minimum requirements checklist CERTIFICATION I hereby certify that I am the sole Property Owner of Record or an agent duly authorized by the Property Owner(s) of Record to file this application on their behalf. Furthermore, I hereby acknowledge that the plat submitted with this application must meet certain requirements in order to be approved including, but not limited to: a) successfully addressing all review comments, and b) any and all new public improvements for the subdivision being completed and/or covered under a performance guarantee agreement in accordance with the City's Code of Ordinances. If I am an agent, I hereby certify that I have notified the Property Owner(s) of Record and the developer of these requirements. Applicant iat re and Printed Name OFFICE USE ONLY Date Received & By Review Fee Received $ File # Recording Fee Received $ Preliminary and Record Plats: Planning & Zoning Commission Recommendation 01/14/2026 Date MUNIS Application # MUNIS Permit #. ❑ Check # ❑ Credit Card ❑ Cash Date City Council Final Action Date Revised 07/01/25 N 86° 07' 52" W 430.02' 32.15' (78,740 SQ. FT.) 1.81 ACRES S 54° 14' 57" E 135.20' S 2 2 ° 5 5' 5 6 " E 5 4. 8 7' N 0 3 ° 5 1 ' 3 2 " E 9 6 .6 6 ' S 47° 14' 04" E 75.94' S 1 6 ° 5 0' 2 8 " E 6 6. 8 8' N 0 3 ° 5 1 ' 3 2 " E 2 0 2 .0 0 ' S 86° 07' 52" E 190.88' S 1 3 ° 3 0 ' 5 9 " W 4 8 .5 3 ' S 86° 07' 52" E 274.71' 1" = 30' 1 of 1 PLAT RECORD SHEET NO. SCALE CKD BY DWN BY CAICE FILE DATE JOB NO. DESCRIPTION DATE L a n d S u r v e y i n g C o r p o r a t i o n - M i s s o u r i S t a t e C e r t i f i c a t e o f A u t h o r i t y # 0 0 0 1 6 6 E n g i n e e r i n g C o r p o r a t i o n - M i s s o u r i S t a t e C e r t i f i c a t e o f A u t h o r i t y # 0 0 0 3 8 3 B o w e n E n g i n e e r i n g & S u r v e y i n g , P . C . E N G I N E E R I N G & S U R V E Y I N G C o n s u l t i n g E n g i n e e r s L a n d S u r v e y o r s T e s t i n g L a b o r a t o r i e s w w w . b o w e n e n g s u r v . c o m F a x 5 7 3 3 3 9 1 3 9 1 P h 5 7 3 3 3 9 5 9 0 0 C a p e G i r a r d e a u , M O 6 3 7 0 1 2 1 2 1 M e g a n D r i v e RCB RWB E25018.ZIP E25018-SUBD.DGN FEB. 10, 2026 E25-018 Bowen Engineering & Surveying, P.C. Copyright © 2026 by C A P E G I R A R D E A U , M I S S O U R I 1 5 5 8 S L O A N C R E E K D R I V E R I T T E R S O U T H E A S T H O L D I N G S L L C N M . S . P . C . Z O N E 2 4 0 1 E A S T G R I D N O R T H , N A D 8 3 SS FILED FOR RECORD SURVEYOR' S CERTIFICATION R. Christopher Bowen MO. PLS #2232 _______________________________________________________________ This________________Day of____________________________2026 A.D. title search may disclose. In witness whereof, I hereunto set my seal and signature; other documents that could affect this parcel, of which an accurate and current Department of Agriculture, Division of Weights and Measures. There may exist with the current minimum standards for property boundary surveys of the Missouri survey are represented correctly on this plat. Said survey was executed in accordance shown hereon were surveyed under my direct supervision, and the results of said This is to certify that at the request of Carl Ritter Jr. the tracts Andrew David Blattner, Cape Girardeau County Recorder of Deeds ___________________________________________________________ and Duly Recorded in Document No. _____________________________. Filed For Record This____________Day of_________________2026 A.D. County of Cape Girardeau ) State of Missouri ) SURVEY NOTES: REFERENCES: SURVEY MONUMENT NOTES: - SET 1/2" IRON PIN - FOUND 1/2" IRON PIN (AS NOTED) Utility Easement Along The Rear Lot Lines Of Lots 1 And 2. An Exception Is Shown For The Omission Of The Required 10-Foot Survey Class - Urban From Meters To U.S. Survey Feet. Retrieval Date December 28, 2023 And Converted As Published On National Geodetic Data Sheets, Elevation 476.96 U.S. Survey Feet Easting 1,067,059.319 U.S. Survey Feet Northing 575,957.276 U.S. Survey Feet Ellipsoid Height 384.012 U.S. Survey Feet Longitude 89° 39' 00.22115" West Latitude 37° 24' 44.45840" North CORS Station MOJK Of The MoDOT GPS RTK Network Basis Of Survey Datum - Nad83, M.S.P.C. Zone 2401 East Deed Or Record Dimensions Shown With Parentheses Measured Dimensions Shown Without Parentheses and Document No. 2025-10428 The Parent Tracts Recorded In Document No. 2025-09594 This Survey Creates A New 2 Lot Subdivision From https://maps.camavision.com/capegirardeaumo Online Mapping Records For Cape Girardeau, County, Scriveners Error Affidavit, Document No. 2026-00141 General Warranty Deed, Document No. 2025-10428 General Warranty Deed, Document No. 2025-09594 Previous Survey By Snell (PLS 2017017647), Document No. 2025-09774 Plat Book 15 - Page No. 44 Record Plat For A Resubdivision of Lot 21 of Independence West Commercial Subdivision, Plat Book 13 - Page No. 18 Record Plat For Independence West First Commercial Subdivision, 0' GRAPHIC SCALE 30'60'90'120' RECORD PLAT BROADVIEW ON THE HILL City and County of Cape Girardeau, State of Missouri Township 30 North, Range 13 East of the Fifth Principal Meridian, and Being a Part of Outlot No. 81, U.S.P.S. No. 2199, as Recorded in Plat Book 15 at Page No. 44 of the Land Records of the County Recorder's Office A Resubdivision of Part of Lots 1 and 2 of A Resubdivision of Lot 21 of Independence West Commercial Subdivision, ZONING AND LOT INFORMATION: Total Area of Subdivision - 2.31 Acres (100,384 sq. ft.) Lot 2 - 0.50 Acres (21,644 sq. ft.) Lot 1 - 1.81 Acres (78,740 sq. ft.) Number of Lots = 2 or ten feet when adjacent to an agricultural use or district. Side Yard - None, except 20 feet when adjacent to a residential use or district, or ten feet when adjacent to an agricultural use or district. Rear Yard - None, except 20 feet when adjacent to a residential use or district, Front Yard - Twenty-Five (25) Feet Minimum Yard Requirements: Minimum Lot Width: None Minimum Lot Area: None Maximum Height: 60 feet, not to exceed five stories. Zoning: C-2, Highway Commercial District September 29, 2011. Number 29031C0266E,Which Bears an Effective Date of as Delineated On The Flood Insurance Rate Map, Community Panel This Property Is in Zone X, An Area Outside The 100 Year Flood Zone FLOOD ZONE NOTE: SUBDIVISION DEDICATION: COUNTY OF CAPE GIRARDEAU STATE OF MISSOURI ss ) ) City Clerk of the City of Cape Girardeau, Missouri _________________________________________________ This_________________Day Of_______________________, 2026 A.D. No.____________________________Passed and Approved, The City of Cape Girardeau, Missouri By Ordinance Missouri, Hereby Certify That This Plat Was Approved By The City Council of I,______________________________, City Clerk of The City of Cape Girardeau, Notary Public My Term Expires _________________________________________________ Seal This_______________Day Of____________________, 2026 A.D. In Witness Whereof, I Hereunto Set My Hand and Affix My Official Free Act And Deed of Said Limited Liability Company. Herein, Who Acknowledged That He Executed The Foregoing Instrument as The a Missouri Limited Liability Company, Known to Me to Be The Person Described Carl Dean Ritter Jr., Member of Ritter Southeast Holdings LLC, Before Me, a Notary Public for said State And County, Personally Appeared LEGEND: Detention Basin Easement Line New Private Stormwater & New 10' Utility Easement Flood Zone Line Lot Line To Be Eliminated Building Setback Line New Cross-Parking Easement Line New Utility Easement Line Centerline Right of Way Line External Property Line New Lot Line Subdivision Boundary Line 25' BSL 1/2" IRON PIN (NO CAP) 1/2" IRON PIN (NO CAP) 1/2" IRON PIN (NO CAP) 1/2" IRON PIN (NO CAP) 1/2" IRON PIN (PLS 2017017647) COMMERCIAL SUBD. OF LOT 21 OF INDEPENDENCE WEST N.W. CORNER, LOT 1, A RESUBDIVISION 1/2" IRON PIN (PLS 2017017647) (PLS 2017017647) 1/2" IRON PIN 1/2" IRON PIN (NO CAP) 1/2" IRON PIN (NO CAP) restriction is perpetual and shall run with the land.” a deed restriction in satisfaction of Chapter 25 of said Code of Ordinances. Said deed of Ordinances of the City of Cape Girardeau, Missouri. This provision hereby constitutes public right-of-way or public drainage easement as required by Chapter 23 of the Code maintenance of all components of the stormwater management system not located in a “The owner of each lot within the subdivision is jointly and severally responsible for the STORMWATER NOTE: S O U T H B R O A D V IE W S T R E E T (6 0 ' R /W ) COMMERCIAL SUBD. OF LOT 21 OF INDEPENDENCE WEST N.W. CORNER, LOT 2, A RESUBDIVISION 1/2" IRON PIN (NO CAP) LOT 21 OF INDEPENDENCE WEST COMMERCIAL SUBD. S.W. CORNER, LOT 1, A RESUBDIVISION OF BEARING N 03° 51' 32" E, 5.00' FROM CORNER 1/2" IRON PIN (PLS 2017017647) DOC. NO. 2025-09594 RITTER SOUTHEAST HOLDINGS LLC N/F DOC. NO. 2013-04795 HAMLET GROUP LLC N/F DOC. NO. 2023-09533 OPTIONS FOR WOMEN N/F DOC. NO. 2025-01831 MTTM BEST DAY LLC N/F PB. 17 - PG. NO. 70 JUNG SUBDIVISION LOT 1 PB. 17 - PG. NO. 70 JUNG SUBDIVISION LOT 2 PB. 17 - PG. NO. 70 JUNG SUBDIVISION LOT 5 LOT 1 N 0 3 ° 5 1 ' 3 2 " E 1 4 9 .3 8 ' N 86° 07' 52" W 135.91' N 86° 07' 52" W 136.22' N 86° 07' 52" W 157.89' (N 86° 20' 00" W 136.00') (N 0 3 ° 2 4 ' 4 4 " E 1 5 0 .0 0 ') (N 86° 20' 00" W) (429.85') (N 86° 20' 00" W 136.00') (N 86° 20' 00" W 157.85') PB. 15 - PG. NO. 44 INDEPENDENCE WEST COMMERCIAL SUBD. A RESUBDIVISION OF LOT 21 OF LOT 3 DOC. NO. 2025-09226 CHARLES F. & JOYCE E. BLATTNER TRUST ET AL N/F ZONE X ZONE AE - FLOOD WAY ZONE X ZONE AE - FLOOD W AY BK. 537 - PG. NO. 834 CITY OF CAPE GIRARDEAU, MO N/F CAPE LA CR OIX CREEK 2 5 ' B S L 2 5 ' B S L S 47° 14' 04" E 108.09' 30'30' 30'30' LOT LINE TO BE ELIMINATED 4 3 .5 0 ' DETENTION BASIN EASEMENT PRIVATE STORMWATER AND BASIN EASEMENT STORMWATER AND DETENTION PRIVATE SOUTH LINE CROSS-PARKING EASEMENT 1 6 .5 0 ' 61.40' 73.80' S 76 ° 24' 04 " E 88 .85' S 1 1 ° 2 0' 2 9 " E 1 0 6 . 9 8' 26.74' S 86° 07' 51" E S 0 3 ° 5 2 ' 0 8 " W 6 7 .2 5 ' S 86° 07' 52" E 165.16' INDEPENDENCE ST WILLIAM STREET S O U T H B R O A D V IE W S T . SO U TH K IN G S H IG H W AY W E S T D R IV E N NOT TO SCALE FOR REVIEW E1 E1 E1 DOC. NO. 2025-10428 RITTER SOUTHEAST HOLDINGS LLC N/F (21,644 SQ. FT.) 0.50 ACRES LOT 2 BASIN EASEMENT AND DETENTION STORMWATER PRIVATE C R O S S -P A R K IN G E A S E M E N T C R O S S -P A R K IN G E A S E M E N T S 86° 07' 52" E 122.52' POINT OF BEGINNING Ritter Southeast Holdings LLC Carl Dean Ritter Jr., Member ________________________________________________ future owners of said Lots. on, through, and across Lot 1 and for joint use of the detention basin by the current and hereby established as shown hereon, for the sole purpose of allowing stormwater drainage use. A perpetual, non-exclusive private stormwater and detention basin easement is over such parking spaces as may from time to time be constructed and maintained for such Lots and their respective tenants and invitees. Said cross-parking easement shall be solely of the parking spaces located within said easement by the current and future owners of said easement is hereby established as shown hereon, for the sole purpose of allowing joint use constructed and maintained for such use. A perpetual, non-exclusive cross-parking shall be solely over such driveways and drive aisles as may from time to time be Lots and between said Lots and South Broadview Street. Said cross-access easement tenants and invitees, for the sole purpose of providing ingress and egress between said the use and benefit of the current and future owners of said Lots and their respective cross-access easement is hereby established on, over, and across all of Lots 1 and 2 for repair, replacement, and expansion of such utility systems. A perpetual, non-exclusive by a public or private utility provider for purposes related to the installation, maintenance, of City water and sewer systems, and as may be authorized by said City to be used purposes, including the installation, maintenance, repair, replacement, and expansion are hereby granted to the City of Cape Girardeau, Missouri, in perpetuity for public named "Broadview On The Hill". The new utility easements shown hereon hereon, which is a true and correct representation of said subdivision, which is hereby Hereby declare that I have caused said land to be subdivided into lots as shown containing 2.31 Acres (100,384 sq. ft.) more or less. N 03° 51’ 32” E, 298.66 feet along said East Right of Way line to the Point of Beginning, the South line of said Lot 1 to the East Right of Way line of South Broadview Street; Thence Independence West Commercial Subdivision; Thence N 86° 07’ 52” W, 430.02 feet along S 13° 30’ 59” W, 48.53 feet to the South line of Lot 1 of said Resubdivision of Lot 21 of S 16° 50’ 28” E, 66.88 feet; Thence S 54° 14’ 57” E, 135.20 feet; Thence S 47° 14’ 04” E, 108.09 feet; Thence S 22° 55’ 56” E, 54.87 feet; Thence Right of Way line the following courses and distances: said Lot 2 to the West Right of Way line of Cape LaCroix Creek; Thence along said West West Commercial Subdivision; Thence S 86° 07’ 52” E, 190.88 feet along the North line of Beginning at the Northwest corner of Lot 2 of said Resubdivision of Lot 21 of Independence Described as Follows: Meridian, City and County of Cape Girardeau, State of Missouri, Being More Particularly Outlot No. 81, U.S.P.S. No. 2199, Township 30 North, Range 13 East of the Fifth Principal Page No. 44 of the Land Records of the County Recorder's Office and Being a Part of Lot 21 of Independence West Commercial Subdivision as recorded in Plat Book 15 at Missouri Limited Liability Company, the Owner of Part of Lots 1 and 2 of A Resubdivision of The Undersigned, Carl Dean Ritter Jr., Member of Ritter Southeast Holdings LLC, a CITY CLERK'S CERTIFICATION 10th February Staff: Ryan Shrimplin, City Planner Agenda: March 2, 2026 TITLE AGENDA REPORT Cape Girardeau City Council BILL NO. 26-21, an Ordinance approving the record plat of Deer Run Estates Phase 2. First Reading. DEV - Ryan Shrimplin SUMMARY A record plat has been submitted for Deer Run Estates Phase 2, located on Old Hopper Road and zoned R-1 (Single -Family Suburban Residential). The plat establishes 28 single-family residential lots and dedicates right-of-way for three public streets (Gunisson Drive, Leadville Lane, and an extension of Rifle Drive). STAFF RECOMMENDATION The staff report to the Planning & Zoning Commission recommended approval of the record plat. BOARD OR COMMISSION RECOMMENDATION The Planning & Zoning Commission, at its May 10, 2023 meeting, recommended approval of the record plat by a vote of 8 in favor, 0 in opposition, and 0 abstaining. ATTACHMENTS • 26-21 RP Deer Run Estates Phase 2.doc • Staff Review -Referral -Action Form.pdf • Map - Deer Run Estates Phase 2 Subdivision.pdf • Subdivision_Plat_Application - DEER RUN ESTATES PHASE 2.pdf • DEER RUN PHASE 2 PLAT -PHASE 2 PLAT_20260217.pdf BILL NO. 26-21 ORDINANCE NO. AN ORDINANCE APPROVING THE RECORD PLAT OF DEER RUN ESTATES PHASE 2 BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU, MISSOURI, AS FOLLOWS: ARTICLE 1. The record plat of Deer Run Estates Phase 2, being Part of the East Half of the Northeast Quarter of Section 34, Township 31 North, Range 13 East of the Fifth Principal Meridian, in the City and County of Cape Girardeau, State Of Missouri, submitted by Forefront Holdings, LLC, bearing the certification of Brian W. Strickland, a Registered Land Surveyor, dated the 17th Day of February, 2026, is hereby approved. ARTICLE 2. The City Clerk is hereby directed to sign the record plat with the date of Council approval and affix thereto the seal of the City of Cape Girardeau, Missouri. ARTICLE 3. This ordinance shall be in full force and effect ten days after its passage and approval. PASSED AND APPROVED THIS day of , 2026. Stacy Kinder, Mayor ATTEST: Courtney Davis, Deputy City Clerk CITY OF CAPE GIRARDEAU, MISSOURI City Staff Review, Referral and Action - Subdivision Application FILE: Deer Run Estates Phase 2 Subdivision LOCATION: SW Corner of Hopper Rd. & Old Hopper Rd. STAFF REVIEW & COMMENTS: A record plat has been submitted to subdivide a lot into 28 lots at the southwest corner of Hopper Road and Old Hopper Road. SEE STAFF REPORT FOR MORE DETAILS. City Pla er /� '` `� Date 1-7 7�1fv3 City Attorney Date CITY MANAGER REFERRAL TO THE PLANNING AND ZONING COMMISSION.• Manager Planning & Zoning Commission RECOMMENDED ACTION• Date COMMENTS: CITIZENS COMMENTING AT MEETING: Deborah Young Planning & Zoning Cokmis City Council Action Ordinance 1 S` Reading Ordinance 2nd & 3 Reading: ORDINANCE # Effective Date: Abstain Ll Abstain Secretary Favor Oppose Abstain Fa,�vo/y. Oppose Scott Blank 2, Ll L3 Sommer McCauley -Perdue lid ❑ Kevin Greaser fid' . ❑ ❑ Melissa Stickel ( ❑ Derek Jackson ❑ ❑ Sid Whittington ❑ Chris Martin ❑ . ❑ ❑ Deborah Young ❑ Nick Martin C ❑ ❑ VOTE COUNT: Favor Oppose COMMENTS: CITIZENS COMMENTING AT MEETING: Deborah Young Planning & Zoning Cokmis City Council Action Ordinance 1 S` Reading Ordinance 2nd & 3 Reading: ORDINANCE # Effective Date: Abstain Ll Abstain Secretary Deer Run Estates Phase 2 Subdivision LU w O 0 W O Z O a L --JL) L --j Y¢ Y o O HOPPER i SILVERTON ' J 4, LL, N W+E S i. `e` CITYOf CAPE eXn G I R A R D E A U Created by: Community Development Dept. Carol Peters April 3, 2023 0 75 150 300 Feet W IL a O 2 Legend Deer Run Estates Phase 1 Deer Run Estates Phase 2 Parcels M. SUBDIVISION PLAT APPLICATION <� CITY of CAPE GIRARDEAU w�`eo�am"► COMMUNITY DEVELOPMENT DEPARTMENT, 44 NORTH LORIMIER STREET, CAPE GIRARDEAU, MO 63701 (573) 339-6327 .BSAvya9,• Name of Subdivision Type of Plat Deer Run Estates - Phase 2 id Record ❑ Preliminary ❑ Boundary Adjustment Applicant Property Owner of Record ❑ Same as Applicant Premium Development LLC - Same as Applicant Mailing Address City, State, Zip Mailing Address City, State, Zip 2985 Boutin Drive Cape Girardeau, MO 63701 Telephone Email Telephone Email (573) 335-3382 bowconstruction@aol.com Contact Person (If Applicant is a Business or Organization) (Attach additional owners information, if necessary) Brandon Williams Professional Engineer/Surveyor (if other than Applicant) Developer (if other than Applicant) Strickland Engineering / Brian Strickland Mailing Address City, State, Zip Mailing Address City, State, Zip 113 W. Main Street Jackson, MO 63755 Telephone Email Telephone Email 573-243-4080 bstrick@stricklandengineering.com ADDITIONAL ITEMS In addition to this completed application form, the following items must be submitted: REQUIRED 1( Review Fee (payable to City of Cape Girardeau) $20.00 per lot ($200.00 minimum) ✓ Recording Fee Deposit (payable to City of Cape Girardeau) See Instructions for more Sheet Size Record Plat Boundary Adjustment Plat information. 18" x 24" $46.00 $26.00 24" x 36" $71.00 $31.00 (The City reserves the right to issue a partial refund or collect an additional fee if the actual recording cost differs from the deposit amount) ✓ One (1) full size print of the plat 7 Digital file of the plat in .pdf format (can be emailed to cityplanning@citvofcape.org) ✓ Completed minimum requirements checklist CERTIFICATION I hereby certify that I am the sole Property Owner of Record or an agent duly authorized by the Property Owner(s) of Record to file this application on their behalf. Furthermore, I hereby acknowledge that the plat submitted with this application must meet certain requirements in order to be approved including, but not limited to: a) successfully addressing all review comments, and b) any and all new public improvements for the subdivision being completed and/or covered under a performance guarantee agreement in accordance with the City's Code of Ordinances. If I am an agent, I hereby certify that I have notified the Property Owner(s) of Record and the developer of these requirements. Digitally signed 1, Marc Mahnke Marc Mahnke C=StncklandEngineerng CN=MarccMahnkengcom, 3-24-2023 Date: 2023.03.24 13:34:35-05'00' Applicant Signature and Printed Name Date OFFICE USE ONLY Date Received & By File # MUNIS Application # MUNIS Permit # Review Fee Received $ Recording Fee Received $ Preliminary and Record Plats: Planning & Zoning Commission Recommendation ❑ Check # ❑ Credit Card ❑ Cash Date City Council Final Action Date Revised 07/08/2022 City of Cape Girardeau Subdivision Plat Requirements (Record Plats) MINIMUM REQUIREMENTS FOR RECORD PLATS — COMPLETE CHECKLIST AND SUBMIT WITH APPLICATION (First column of check boxes is for professional engineer/surveyor; second column is for City staff) NAME OF SUBDIVISION: Deer Run Estates Phase 2 E6 ❑ Sheet size - 18" x 24", 24" x 24", or 24" x 36" R1 ❑ White background with black text and graphics; greyscale allowed; no other colors LI ❑ Border - rectangular, solid line(s) C�1 ❑ Title block - include name, address, and phone number of consultant preparing the plat; include box for original issue date and at least 3 revision issue dates ❑ ❑ Sheet number, if plat consists of more than one sheet 66 ❑ Plat title - located at the top of the sheet, preferably centered; begin with "RECORD PLAT"; name cannot be a duplicate of an existing subdivision in the county or include "RESUBDIVISION" ❑ Description beneath plat title - if existing platted lots are involved, begin with "ALL OF" or "PART OF" as applicable; include Block Number if applicable; include Book and Page or Document Number of existing plat; include vacated right-of-way/alley if applicable; end with "IN THE CITY AND COUNTY OF CAPE GIRARDEAU, STATE OF MISSOURI" 56 ❑ References - list all deeds, plats, separate easement instruments, etc. used in preparing the plat; include Book and Page or Document Number for each, if recorded 65 ❑ North arrow with basis of bearings 0 ❑ Graphic scale - 1:100 or less; must be a multiple of 10 ❑ Vicinity map - lines only (no images); all nearby streets and major streets labeled; site labeled; include North arrow and "NTS" or "NOT TO SCALE"; use transparent background for labels LI ❑ Legend - list found monuments first, followed by set monuments, followed by: "SUBDIVISION BOUNDARY LINE", "LOT LINE TO BE ELIMINATED" and/or "NEW LOT LINE" as applicable, "EXISTING EASEMENT LINE" and/or "NEW EASEMENT LINE" as applicable, "BUILDING SETBACK LINE", "EXTERNAL PROPERTY LINE", "RIGHT-OF-WAY LINE", "CENTERLINE", other symbols as applicable LI ❑ Curve table and/or line table, if necessary - include unit symbols for distances/lengths E6 ❑ Subdivision boundary and internal lines accurately drawn and labeled with bearing and distance or referenced to curve table/line table 65 ❑ Section/township/range lines accurately drawn and labeled d ❑ Adjacent parcel lines accurately drawn Ly1 ❑ Subdivision boundary and each lot checked for closure R1 ❑ Each proposed lot labeled with lot number and area expressed in square feet and acres E71 ❑ All parcels within and adjacent to the subdivision boundary labeled with record owner name and Book and Page or Document Number for deed L�1 ❑ All existing platted lots within and adjacent to the subdivision boundary labeled with subdivision name and Book and Page or Document Number for plat ❑ All existing easements within the subdivision boundary labeled as existing; include type of easement (water, sewer, utility, drainage, access, etc.); include Book and Page or Document Number, if recorded 56 ❑ All new easements within the subdivision boundary labeled as "NEW _' UTILITY EASEMENT", "NEW —'ACCESS EASEMENT", or other type of easement as applicable 66 ❑ All building setback lines within the subdivision boundary labeled; include depth S6 ❑ All rights-of-way within and adjacent to the subdivision boundary labeled with street name (or labeled as alley if applicable) and right-of-way width 65 ❑ All private streets within and adjacent to the subdivision boundary labeled with street name followed by "(PRIVATE STREET)" along with existing access easement information, if applicable, or shown in a new 50 foot access easement S6 ❑ Notes: • Zoning - include zoning district name, minimum lot area, minimum lot width, maximum density if applicable, and setbacks; if zoning district has different standards based on land use type, include all standards and state the proposed use type(s) • Lot - include total number of lots, largest lot area, smallest lot area, and total subdivision area; include proposed density (for residential subdivisions) Revised 07/08/2022 MINIMUM REQUIREMENTS FOR RECORD PLATS (CONTINUED) • Variance, if applicable - begin with "A VARIANCE IS SHOWN FOR" followed by "A REDUCED LOT AREA FOR LOT _", "A REDUCED LOT WIDTH FOR LOT_", or "A REDUCED YARD SETBACK ALONG THE LOT LINE OF LOT_", as applicable • Exception, if applicable - begin with "AN EXCEPTION IS SHOWN FOR" followed by "THE OMISSION OF THE REQUIRED 10 FOOT UTILITY EASEMENT ALONG THE LOT LINE OF LOT 2 or "A REDUCED UTILITY EASEMENT WIDTH ALONG THE LOT LINE OF LOT", as applicable • Floodplain - begin with "A PORTION OF THE PROPERTY FALLS WITHIN" or "NO PORTION OF THE PROPERTY FALLS WITHIN", as applicable; if referencing a zone designation, state what that designation means E71 ❑ List each record owner name and Book and Page or Document Number for deed, name and address of party for whom the plat was prepared, name and address of consultant that performed the survey and prepared the plat ❑ Subdivision Dedication: • Begin with "THE UNDERSIGNED," followed by the owner name(s) as stated in the current deed(s); include "HUSBAND AND WIFE," if applicable; include "A [insert state name] LIMITED LIABILITY COMPANY," or "A [insert state name] CORPORATION," if applicable; followed by "OWNER OF" or "OWNERS OF" and a description matching the description beneath the plat title, followed by "CONTAINING SQUARE FEET ( ACRES), MORE OR LESS, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:"; followed by a legal description of the total subdivision area; followed by "HEREBY SUBDIVIDE" or "HEREBY SUBDIVIDES"; followed by "SAID TRACT INTO AS SHOWN HEREON, WHICH IS A TRUE AND CORRECT REPRESENTATION OF SAID SUBDIVISION, WHICH IS HEREBY NAMED • New right-of-way and/or easements - use standard language ❑ Legal description checked against drawing for congruence ❑ Owner signature line(s) with notary block(s) - include title after signatory name if owner is not an individual; include "HUSBAND AND WIFE," if applicable; include "A [insert state name] LIMITED LIABILITY COMPANY," or "A [insert state name] CORPORATION," if applicable ❑ ❑ If plat shows existing public easement(s) to be released — use standard block for City Manager's release 66 ❑ City Clerk's certificate - use standard block for record plats 65 ❑ County Recorder of Deeds' certificate - use standard block E6 ❑ Surveyor's certificate Revised 07/08/2022 11950 SQ FT 0.27 ACRES LOT 2 11950 SQ FT 0.27 ACRES LOT 3 11237 SQ FT 0.26 ACRES LOT 5 10019 SQ FT 0.23 ACRES LOT 6 11950 SQ FT 0.27 ACRES LOT 4 12621 SQ FT 0.29 ACRES LOT 7 11950 SQ FT 0.27 ACRES LOT 11 11950 SQ FT 0.27 ACRES LOT 12 12696 SQ FT 0.29 ACRES LOT 13 11182 SQ FT 0.26 ACRES LOT 14 10000 SQ FT 0.23 ACRES LOT 15 10000 SQ FT 0.23 ACRES LOT 16 10188 SQ FT 0.23 ACRES LOT 17 12130 SQ FT 0.28 ACRES LOT 18 12696 SQ FT 0.29 ACRES LOT 24 11950 SQ FT 0.27 ACRES LOT 25 11950 SQ FT 0.27 ACRES LOT 26 11950 SQ FT 0.27 ACRES LOT 27 11363 SQ FT 0.26 ACRES LOT 28 10000 SQ FT 0.23 ACRES LOT 29 10313 SQ FT 0.24 ACRES LOT 31 12002 SQ FT 0.28 ACRES LOT 32 10312 SQ FT 0.24 ACRES LOT 34 10000 SQ FT 0.23 ACRES LOT 36 11485 SQ FT 0.26 ACRES LOT 37 14810 SQ FT 0.34 ACRES LOT 38 10000 SQ FT 0.23 ACRES LOT 35 11986 SQ FT 0.28 ACRES LOT 33 10000 SQ FT 0.23 ACRES LOT 22 10313 SQ FT 0.24 ACRES LOT 20 10000 SQ FT 0.23 ACRES LOT 21 10000 SQ FT 0.23 ACRES LOT 30 12002 SQ FT 0.28 ACRES LOT 19 11292 SQ FT 0.26 ACRES LOT 23 N 0 ° 2 8 ' 3 1 " W 1 3 0 . 1 7 ' S89°37'51"W 367.66' N0°05'50"W 3.02' N 0 ° 0 5 ' 5 0 " W 5 7 0 . 0 0 ' N89°54'10"E 199.37' N0°05'50"W 27.23' N89°37'51"E 459.38' S 0 ° 2 2 ' 0 9 " E 7 2 8 . 6 5 ' S89°01'31"W 144.33' S89°54'10"W 149.37' Curve Table Curve Length Radius Chord Direction Chord Length NOTES VICINITY MAP PART OF THE EAST HALF OF THE NORTHEAST QUARTER OF SECTION 34, TOWNSHIP 31 NORTH, RANGE 13 EAST OF THE FIFTH PRINCIPAL MERIDIAN, IN THE CITY AND COUNTY OF CAPE GIRARDEAU, THE STATE OF MISSOURI RECORD PLAT FOR DEER RUN ESTATES PHASE 2 CIVIL - MECHANICAL - ELECTRICAL ENGINEERING - LAND SURVEYING Date Project # Drawn by Checked by Tel: 573-243-4080 Fax: 573-243-2191 Jackson, Missouri 63755 113 West Main Street Scale P.O. Box 159 AS SHOWN 2-17-2026 MTM RA/BS 21-058 Subdivision Dedication Zoning Classification Deer Run Estates - Phase 2 Survey Certification SITE Floodplain Note No portion of the property is within a flood hazard zone as shown on the flood insurance rate map, community panel 29031C0254E for the city of cape girardeau, missouri. References Accuracy Standard: Type Urban Surveyor's Note DescriptionRev Date NOT TO SCALE setbacks have been adjusted to align with easements on lots 13, 17, 18, 19, 20, 24, 31, 32, 33, 34, & 38 Stormwater Management System Maintenance Note the owner of each lot within the subdivision is jointly and severally responsible for the maintenance of all components of the stormwater management system not located in a public right of way or public drainage or detention easement as required by chapter 23 of the code of the ordinances of the city of cape girardeau, missouri. this provision hereby constitutes a deed restriction in satisfaction of chapter 25 of said code of ordinances. said deed restriction is perpetual and shall run with the land. Legend PROPERTY OWNER FOREFRONT HOLDINGS, LLC. 2607 PRAIRIE LANE CAPE GIRARDEAU, MO 63701 DOCUMENT NUMBER 2026-01152 Staff: Ryan Shrimplin, City Planner AGENDA REPORT Agenda: March 2, 2026 Cape Girardeau City Council TITLE BILL NO. 26-22, an Ordinance approving the record plat of Blank's Second Subdivision. First Reading. DEV - Ryan Shrimplin SUMMARY A record plat has been submitted for Blank's Second Subdivision, located at 549 South Sprigg Street and 538 & 542 South Ellis Street. The proposed subdivision is zoned CBD (Central Business District) and IO (Increased Occupancy Overlay District). The plat resubdivides several tracts to create two new lots. The plat shows an exception for the omission of the required 10 -foot utility easement along the rear lot lines of both lots. Staff supports the exception because there are no existing or proposed utility main or primary lines in the areas where the easement is required. STAFF RECOMMENDATION The staff report to the Planning & Zoning Commission recommended approval of the record plat. BOARD OR COMMISSION RECOMMENDATION The Planning & Zoning Commission, at its January 14, 2026 meeting, recommended approval of the record plat by a vote of 6 in favor, 0 in opposition, and 2 abstaining. ATTACHMENTS • 26-22 BLANK'S SECOND SUBDIVISION.doc • Staff Review -Referral -Action Form.pdf • Map - Blank's Second Subdivision.pdf • Application - Blank's Second Subdivision.pdf • Record Plat - Blanks Second Subdivision (Rev4 2-20-26).pdf BILL NO. 26-22 ORDINANCE NO. AN ORDINANCE APPROVING THE RECORD PLAT OF BLANK'S SECOND SUBDIVISION BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU, MISSOURI, AS FOLLOWS: ARTICLE 1. The record plat of Blank's Second Subdivision, being Part of Lots 131 through 136, all of Lots 137 through 139, and that part of a vacated alley adjoining said lots and vacated by City Ordinance No. 5870, all in Range R of Moses McLean's (AKA McClean's) Addition to the City of Cape Girardeau, being a part of Outlot 23, U.S.P.S. 2199, Township 30 North, Range 14 East of the Fifth Principal Meridian, City and County of Cape Girardeau, Missouri, submitted by CLILA, L.P., bearing the certification of Dennis R. Owen, Jr., a Registered Land Surveyor, dated the 12th Day of November, 2025, is hereby approved. ARTICLE 2. The City Clerk is hereby directed to sign the record plat with the date of Council approval and affix thereto the seal of the City of Cape Girardeau, Missouri. ARTICLE 3. This ordinance shall be in full force and effect ten days after its passage and approval. PASSED AND APPROVED THIS day of , 2026. Stacy Kinder, Mayor ATTEST: Courtney Davis, Deputy City Clerk CITY OF CAPE GIRARDEAU, MISSOURI City Staff Review, Referral and Action - Subdivision Application FILE: Blank's Second Subdivision LOCATION: South Sprigg Street & Shawnee Parkway STAFF REVIEW & COMMENTS: A record plat has been submitted to reconfigure several lots into two new lots at the northwest corner of Shawnee Parkway and South Sprigg Street. SEE STAFF REPORT FOR MORE DETAILS. /fiy- City Pl r City Attorney i '&/zt Date Foal CITY MANAGER REFERRAL TO THE PLANNING AND ZONING COMMISSION: City Manager Planning & Zoning Commission RECOMMENDED ACTION: VOTE COUNT: COMMENTS: b Favor Oppose CITIZENS COMMENTING AT MEETING: Date Favi}< Fav Oppose Abstai UY Trae Bertrand Y ❑ ❑ Gerry Jones Scott Blank ❑ ❑ ❑ Chris Martin Robbie Guard r ❑ ❑ ❑ Nick Martin Blake Hagedorn ❑ ❑ Emily McElreath Derek Jackson ❑ ❑ VOTE COUNT: COMMENTS: b Favor Oppose CITIZENS COMMENTING AT MEETING: Date Favi}< Oppose Abstain UY Ll L3 ur L3 Ll ❑ ❑ ❑ ❑ ❑ — Abstain Chris Martin Planning & Zoning Commission Secretary City Council Action Ordinance I" Reading Ordinance 2nd & 3.d Reading: ORDINANCE # Effective Date: Blank's Second Subdivision 10101SUBDIVISION PLAT APPLICATION �\ CITY of CAPE GIRARDEAU t COMMUNITY DEVELOPMENT DEPARTMENT, 44 NORTH LORIMIER STREET, CAPE GIRARDEAU, MO 63701 (573) 339-6327 Name of Subdivision Type of Plat Blank's Second Subdivision 0 Record ❑ Preliminary ❑ Boundary Adjustment Applicant Property Owner of Record ❑ Same as Applicant Robert Scott Blank CLILA L.P & Third Gen LLC Mailing Address City, State, Zip Mailing Address City, State, Zip 2717 Peach Tree Street Cape Girardeau, MO 63701 430 Julie Drive Cape Girardeau, MO 63701 Telephone Email Telephone Email 5733821026 sblank@bistateoilcompany.com 5733821026 sblank@bistateoilcompany.com Contact Person (if Applicant is a Business or Organization) (Attach additional owners information, if necessary) Robert Scott Blank Professional Engineer/Surveyor (if other than Applicant) Developer (if other than Applicant) Owen Civil, PLLC (Attn: Dennis Owen) Hubbard Enterprises, LLC Mailing Address City, State, Zip Mailing Address City, State, Zip 6530 Hwy 13 W Harrisburg, IL 62946 70 East School Street Bonne Terre, MO 63628 Telephone Email Telephone Email 618-297-0353 �dowen@owencivil.com 573-358-5125 �cwalker@hubbard-enterprises.com ADDITIONAL ITEMS REQUIRED See Instructions for more information. CERTIFICATION In addition to this completed application form, the following items must be submitted: Review Fee (payable to City of Cape Girardeau) $23.00 per lot ($230.00 minimum) Recording Fee Deposit (payable to City of Cape Girardeau) Sheet Size Record Plat Boundary Adjustment Plat 18" x 24" $46.00 $26.00 24" x 36" $71.00 $31.00 (The City reserves the right to issue a partial refund or collect an additional fee if the actual recording cost differs from the deposit amount) One (1) full size print of the plat Digital file of the plat in .pdf format (can be emailed to cityplanning@citvofcape.org) Completed minimum requirements checklist I hereby certify that I am the sole Property Owner of Record or an agent duly authorized by the Property Owner(s) of Record to file this application on their behalf. Furthermore, I hereby acknowledge that the plat submitted with this application must meet certain requirements in order to be approved including, but not limited to: a) successfully addressing all review comments, and b) any and all new public improvements for the subdivision being completed and/or covered under a performance guarantee agreement in accordance with the City's Code of Ordinances. If I am an agent, I hereby certify that I have notified the Property Owner(s) of Record and the developer of these requirements. Robert Scott Robert Scott Blank Datleally 0signed25.11.25y10:54:15-06001ank 11/25/2025 Applicant Signature and Printed Name OFFICE USE ONLY Date Received & By Date File # MUNIS Application # MUNIS Permit # Review Fee Received $ Recording Fee Received $ Preliminary and Record Plats: Planning & Zoning Commission Recommendation ❑ Check # ❑ Credit Card ❑ Cash Date City Council Final Action Date Revised 07/01/25 CITY OF CAPE GIRARDEAU SUBDIVISION PLAT APPLICATION INSTRUCTIONS Preliminary plats (required for phased subdivisions) and record plats are subject to the subdivision plat process, which consists of reviews by the City staff, the Planning and Zoning Commission, and the City Council. Boundary adjustment plats do not go through the subdivision plat process. Instead, they are reviewed by staff only and, if approved, staff submits the plat prints to the County Recorder of Deeds Office for recording. A boundary adjustment plat cannot change the number of lots, reduce existing lots below the required minimum size, or change easement or utility lines. Applicants who are unsure of which type of plat they need to submit or have other questions should contact: City of Cape Girardeau Planning Services Division 44 North Lorimier Street Cape Girardeau, MO 63701 (573)339-6327 cityplanning@cityofcape.org For preliminary plats and record plats, the application deadline is four (4) weeks prior to the Planning and Zoning Commission meeting date. The Commission meets monthly on the second Wednesday. Applications must be delivered to the Planning Services Division using the above contact information. City staff will review each application for completeness. If required information and/or items are missing, then the applicant will be contacted. Incomplete applications will not be reviewed until the requested information and/or items are provided. Once an application has been deemed complete, it will be placed on the next Planning and Zoning Commission agenda. Staff will review the plat for compliance with the subdivision plat requirements (see attached) as well as the City's zoning and subdivision regulations. If a resubmission is necessary, then a staff review letter will be prepared and sent to the applicant. The resubmission and review process continues until all staff comments have been successfully addressed and the plat is in its final form. A staff report will be prepared and delivered to the Planning and Zoning Commission one (1) week prior to the meeting. The staff report, along with the meeting agenda, will also be delivered to the applicant. The staff report will contain one of the following recommendations: a) approval of the plat; b) approval of the plat, subject to staff's comments being successfully addressed; c) denial of the plat; or d) action on the plat be tabled (postponed). If the plat is not in its final form by this time, then the staff report will recommend b, c, or d. At the meeting, the Planning and Zoning Commission will review the plat and make a recommendation to the City Council. The applicant or their representative must attend the meeting to answer any questions regarding the plat. A plat must be in its final form in order to be reviewed by the City Council. It is the applicant's responsibility to stay informed as to the status of the plat and to address any issues affecting the review schedule. Once staff has determined that a plat is in its final form, the applicant will be notified to submit the requisite number of prints. Each print must be signed and sealed by the professional surveyor and, in the case of a record plat, contain the notarized signature of each Property Owner of Record. The deadline for submitting prints is one (1) week prior to the Council meeting. If the subdivision created by the plat involves new public improvements (such as water or sanitary sewer mains, streets, street lights, sidewalks, etc.), then those improvements must be completed and/or covered under a performance guarantee agreement in accordance with the City's Code of Ordinances before the City Council reviews the plat. The City Council will vote on a motion to approve the plat. Preliminary plats are approved by motion and do not go on to the next Council meeting. Record plats are approved by ordinance and must receive approval of the first reading at one meeting and approval of the second and third readings at the next meeting. If approved, the plat prints will be signed by the City Clerk, who will also affix the City seal to them. For a preliminary plat, the developer may then proceed with the submission of the record plat for the first phase of the subdivision. For a record plat, the City Clerk will wait until the mandatory ten (10) day waiting period for ordinances has passed before signing and sealing the prints. Staff will then submit the plat prints to the County Recorder of Deeds Office for recording. Staff will notify the applicant when their copy of the recorded plat is ready for pick-up. For questions, please contact the Planning Services Division at (573) 339-6327 or cityplanning@cityofcape.org. Revised 07/01/25 City of Cape Girardeau Subdivision Plat Requirements (Record Plats) MINIMUM REQUIREMENTS FOR RECORD PLATS — COMPLETE CHECKLIST AND SUBMIT WITH APPLICATION (First column of check boxes is for professional engineer/surveyor; second column is for City staff) NAME OF SUBDIVISION: Blank's Second Subdivision E6 ❑ Sheet size - 18" x 24", 24" x 24", or 24" x 36" R1 ❑ White background with black text and graphics; greyscale allowed; no other colors 0 ❑ Border - rectangular, solid line(s) 0 ❑ Title block - include name, address, and phone number of consultant preparing the plat; include box for original issue date and at least 3 revision issue dates 0 ❑ Sheet number, if plat consists of more than one sheet 56 ❑ Plat title - located at the top of the sheet, preferably centered; begin with "RECORD PLAT"; name cannot be a duplicate of an existing subdivision in the county or include "RESUBDIVISION" 0 ❑ Description beneath plat title - if existing platted lots are involved, begin with "ALL OF" or "PART OF" as applicable; include Block Number if applicable; include Book and Page or Document Number of existing plat; include vacated right-of-way/alley if applicable; end with "IN THE CITY AND COUNTY OF CAPE GIRARDEAU, STATE OF MISSOURI" 56 ❑ References - list all deeds, plats, separate easement instruments, etc. used in preparing the plat; include Book and Page or Document Number for each, if recorded ❑ North arrow with basis of bearings ❑ Graphic scale - 1:100 or less; must be a multiple of 10 ❑ Vicinity map - lines only (no images); all nearby streets and major streets labeled; site labeled; include North arrow and "NTS" or "NOT TO SCALE"; use transparent background for labels LI ❑ Legend - list found monuments first, followed by set monuments, followed by: "SUBDIVISION BOUNDARY LINE", "LOT LINE TO BE ELIMINATED" and/or "NEW LOT LINE" as applicable, "EXISTING EASEMENT LINE" and/or "NEW EASEMENT LINE" as applicable, "BUILDING SETBACK LINE", "EXTERNAL PROPERTY LINE", "RIGHT-OF-WAY LINE", "CENTERLINE", other symbols as applicable ❑ ❑ Curve table and/or line table, if necessary - include unit symbols for distances/lengths 56 ❑ Subdivision boundary and internal lines accurately drawn and labeled with bearing and distance or referenced to curve table/line table ❑ ❑ Section/township/range lines accurately drawn and labeled d ❑ Adjacent parcel lines accurately drawn Ly1 ❑ Subdivision boundary and each lot checked for closure 56 ❑ Each proposed lot labeled with lot number and area expressed in square feet and acres 9 ❑ All parcels within and adjacent to the subdivision boundary labeled with record owner name and Book and Page or Document Number for deed 65 ❑ All existing platted lots within and adjacent to the subdivision boundary labeled with subdivision name and Book and Page or Document Number for plat ❑ ❑ All existing easements within the subdivision boundary labeled as existing; include type of easement (water, sewer, utility, drainage, access, etc.); include Book and Page or Document Number, if recorded 56 ❑ All new easements within the subdivision boundary labeled as "NEW _' UTILITY EASEMENT", "NEW —'ACCESS EASEMENT", or other type of easement as applicable ❑ ❑ All building setback lines within the subdivision boundary labeled; include depth S6 ❑ All rights-of-way within and adjacent to the subdivision boundary labeled with street name (or labeled as alley if applicable) and right-of-way width W1 ❑ All private streets within and adjacent to the subdivision boundary labeled with street name followed by "(PRIVATE STREET)" along with existing access easement information, if applicable, or shown in a new 50 foot access easement S6 ❑ Notes: • Zoning - include zoning district name, minimum lot area, minimum lot width, maximum density if applicable, and setbacks; if zoning district has different standards based on land use type, include all standards and state the proposed use type(s) • Lot - include total number of lots, largest lot area, smallest lot area, and total subdivision area; include proposed density (for residential subdivisions) Revised 07/08/2022 MINIMUM REQUIREMENTS FOR RECORD PLATS (CONTINUED) • Variance, if applicable - begin with "A VARIANCE IS SHOWN FOR" followed by "A REDUCED LOT AREA FOR LOT _", "A REDUCED LOT WIDTH FOR LOT_", or "A REDUCED YARD SETBACK ALONG THE LOT LINE OF LOT_", as applicable • Exception, if applicable - begin with "AN EXCEPTION IS SHOWN FOR" followed by "THE OMISSION OF THE REQUIRED 10 FOOT UTILITY EASEMENT ALONG THE LOT LINE OF LOT 2 or "A REDUCED UTILITY EASEMENT WIDTH ALONG THE LOT LINE OF LOT", as applicable • Floodplain - begin with "A PORTION OF THE PROPERTY FALLS WITHIN" or "NO PORTION OF THE PROPERTY FALLS WITHIN", as applicable; if referencing a zone designation, state what that designation means E71 ❑ List each record owner name and Book and Page or Document Number for deed, name and address of party for whom the plat was prepared, name and address of consultant that performed the survey and prepared the plat ❑ Subdivision Dedication: • Begin with "THE UNDERSIGNED," followed by the owner name(s) as stated in the current deed(s); include "HUSBAND AND WIFE," if applicable; include "A [insert state name] LIMITED LIABILITY COMPANY," or "A [insert state name] CORPORATION," if applicable; followed by "OWNER OF" or "OWNERS OF" and a description matching the description beneath the plat title, followed by "CONTAINING SQUARE FEET ( ACRES), MORE OR LESS, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:"; followed by a legal description of the total subdivision area; followed by "HEREBY SUBDIVIDE" or "HEREBY SUBDIVIDES"; followed by "SAID TRACT INTO AS SHOWN HEREON, WHICH IS A TRUE AND CORRECT REPRESENTATION OF SAID SUBDIVISION, WHICH IS HEREBY NAMED • New right-of-way and/or easements - use standard language ❑ Legal description checked against drawing for congruence ❑ Owner signature line(s) with notary block(s) - include title after signatory name if owner is not an individual; include "HUSBAND AND WIFE," if applicable; include "A [insert state name] LIMITED LIABILITY COMPANY," or "A [insert state name] CORPORATION," if applicable 66 ❑ If plat shows existing public easement(s) to be released — use standard block for City Manager's release 0 ❑ City Clerk's certificate - use standard block for record plats 0 ❑ County Recorder of Deeds' certificate - use standard block E6 ❑ Surveyor's certificate Revised 07/08/2022 City of Cape Girardeau Subdivision Plat Requirements (Preliminary Plats) MINIMUM REQUIREMENTS FOR PRELIMINARY PLATS — COMPLETE CHECKLIST AND SUBMIT WITH APPLICATION (First column of check boxes is for professional engineer/surveyor; second column is for City staff) NAME OF SUBDIVISION: Blank's Second Subdivision E6 ❑ Sheet size - 18" x 24", 24" x 24", or 24" x 36" EA ❑ White background with black text and graphics; greyscale allowed; no other colors Lig ❑ Border - rectangular, solid line(s) 9 ❑ Title block - include name, address, and phone number of consultant preparing the plat; include box for original issue date and at least 3 revision issue dates 9 ❑ Sheet number, if plat consists of more than one sheet 9 ❑ Plat title - located at the top of the sheet, preferably centered; begin with "PRELIMINARY PLAT"; name cannot be a duplicate of an existing subdivision in the county or include "RESUBDIVISION" 9 ❑ Description beneath plat title - if existing platted lots are involved, begin with "ALL OF" or "PART OF" as applicable; include Block Number if applicable; include Book and Page or Document Number of existing plat; include vacated right-of-way/alley if applicable; end with "IN THE CITY AND COUNTY OF CAPE GIRARDEAU, STATE OF MISSOURI" 66 ❑ References - list all deeds, plats, separate easement instruments, etc. used in preparing the plat; include Book and Page or Document Number for each, if recorded E6 ❑ North arrow with basis of bearings 0 ❑ Graphic scale - 1:200 or less; must be a multiple of 10 ❑ Vicinity map - lines only (no images); all nearby streets and major streets labeled; site labeled; include North arrow and "NTS" or "NOT TO SCALE"; use transparent background for labels ❑ Legend - list found monuments first, followed by set monuments, followed by: "SUBDIVISION BOUNDARY LINE", "LOT LINE TO BE ELIMINATED" and/or "NEW LOT LINE" as applicable, "EXISTING EASEMENT LINE" if applicable, "BUILDING SETBACK LINE", "EXTERNAL PROPERTY LINE", "RIGHT-OF-WAY LINE", "CENTERLINE", other symbols as applicable ❑ ❑ Curve table and/or line table, if necessary - include unit symbols for distances/lengths Lf ❑ Subdivision boundary and internal lines accurately drawn and labeled with bearing and distance or referenced to curve table/line table ❑ ❑ Section/township/range lines accurately drawn and labeled 69 ❑ Adjacent parcel lines accurately drawn Lf ❑ Subdivision boundary and each lot checked for closure ❑ ❑ Each proposed phase of the subdivision labeled and separated from the other phase(s) by a unique line symbol Gd ❑ Each proposed lot labeled with lot number and area expressed in square feet and acres 65 ❑ All parcels within and adjacent to the subdivision boundary labeled with record owner name and Book and Page or Document Number for deed 65 ❑ All existing platted lots within and adjacent to the subdivision boundary labeled with subdivision name and Book and Page or Document Number for plat 65 ❑ All existing easements within the subdivision boundary labeled as existing; include type of easement (water, sewer, utility, drainage, access, etc.); include Book and Page or Document Number, if recorded ❑ ❑ All building setback lines within the subdivision boundary labeled; include depth C�1 ❑ All rights-of-way within and adjacent to the subdivision boundary labeled with street name (or labeled as alley if applicable) and right-of-way width ❑ ❑ All private streets within and adjacent to the subdivision boundary labeled with street name followed by "(PRIVATE STREET)" along with existing access easement information, if applicable ❑ ❑ All existing and new infrastructure improvements (water, sanitary sewer, storm sewer, stormwater detention basins, streets, street lights, sidewalks, etc.) within the subdivision boundary labeled as existing or new as applicable ❑ ❑ Existing contours (10 foot increments or less), floodplain limits, and other features (watercourses, culverts, railroad tracks, etc.) 0 ❑ Notes: • Zoning -include zoning district name, minimum lot area, minimum lot width, maximum density if applicable, and setbacks; if zoning district has different standards based on land use type, include all standards and state the proposed use type(s) Revised 07/08/2022 MINIMUM REQUIREMENTS FOR PRELIMINARY PLATS (CONTINUED) • Lot - include total number of lots, largest lot area, smallest lot area, and total subdivision area; include proposed density (for residential subdivisions) • Variance, if applicable - begin with "A VARIANCE IS SHOWN FOR" followed by "A REDUCED LOT AREA FOR LOT _", "A REDUCED LOT WIDTH FOR LOT", or "A REDUCED YARD SETBACK ALONG THE LOT LINE OF LOT _", as applicable • Floodplain - begin with "A PORTION OF THE PROPERTY FALLS WITHIN" or "NO PORTION OF THE PROPERTY FALLS WITHIN", as applicable; if referencing a zone designation, state what that designation means W1 ❑ List each record owner name and Book and Page or Document Number for deed, name and address of party for whom the plat was prepared, name and address of consultant that performed the survey and prepared the plat L�1 ❑ Legal description of total subdivision area L�1 ❑ Legal description checked against drawing for congruence 65 ❑ City Clerk's certificate - use standard block for preliminary plats W1 ❑ Surveyor's certificate Revised 07/08/2022 City of Cape Girardeau Subdivision Plat Requirements (Boundary Adjustment Plats) MINIMUM REQUIREMENTS FOR BOUNDARY ADJUSTMENT PLATS — COMPLETE CHECKLIST AND SUBMIT WITH APPLICATION (First column of check boxes is for professional engineer/surveyor; second column is for City staff) NAME OF SUBDIVISION: ❑ ❑ Sheet size - 18" x 24", 24" x 24", or 24" x 36" ❑ ❑ White background with black text and graphics; greyscale allowed; no other colors ❑ ❑ Border - rectangular, solid line(s) ❑ ❑ Title block - include name, address, and phone number of consultant preparing the plat; include box for original issue date and at least 3 revision issue dates ❑ ❑ Sheet number, if plat consists of more than one sheet ❑ ❑ Plat title - located at the top of the sheet, preferably centered; use standard boundary adjustment title ❑ ❑ Description beneath plat title - if existing platted lots are involved, begin with "ALL OF" or "PART OF" as applicable; include Block Number if applicable; include Book and Page or Document Number of existing plat; include vacated right-of-way/alley if applicable; end with "IN THE CITY AND COUNTY OF CAPE GIRARDEAU, STATE OF MISSOURI" ❑ References - list all deeds, plats, separate easement instruments, etc. used in preparing the plat; include Book and Page or Document Number for each, if recorded ❑ ❑ North arrow with basis of bearings ❑ ❑ Graphic scale - 1:100 or less; must be a multiple of 10 ❑ ❑ Vicinity map - lines only (no images); all nearby streets and major streets labeled; site labeled; include North arrow and "NTS" or "NOT TO SCALE"; use transparent background for labels ❑ ❑ Legend - list found monuments first, followed by set monuments, followed by: "BOUNDARY LINE OF LOTS BEING ADJUSTED", "LOT LINE TO BE ELIMINATED" and/or "NEW LOT LINE" as applicable, "EXISTING EASEMENT LINE" if applicable, "BUILDING SETBACK LINE", "EXTERNAL PROPERTY LINE", "RIGHT-OF-WAY LINE", "CENTERLINE", "TRANSFER TRACT", other symbols as applicable ❑ ❑ Curve table and/or line table, if necessary - include unit symbols for distances/lengths ❑ ❑ Subdivision boundary and internal lines accurately drawn and labeled with bearing and distance or referenced to curve table/line table ❑ ❑ Section/township/range lines accurately drawn and labeled ❑ ❑ Adjacent parcel lines accurately drawn ❑ ❑ Subdivision boundary and each lot checked for closure ❑ ❑ Each tract clearly labeled with tract number and area expressed in square feet and acres; tract numbering to begin with tract(s) being transferred, followed by tract(s) being enlarged, followed by tract(s) being reduced ❑ ❑ All parcels within and adjacent to the subdivision boundary labeled with record owner name and Book and Page or Document Number for deed ❑ ❑ All existing platted lots within and adjacent to the subdivision boundary labeled with subdivision name and Book and Page or Document Number for plat ❑ ❑ All existing easements within the subdivision boundary labeled as existing; include type of easement (water, sewer, utility, drainage, access, etc.); include Book and Page or Document Number, if recorded ❑ ❑ All building setback lines within the subdivision boundary labeled; include depth ❑ ❑ All rights-of-way within and adjacent to the subdivision boundary labeled with street name (or labeled as alley if applicable) and right-of-way width 66 ❑ All private streets within and adjacent to the subdivision boundary labeled with street name followed by "(PRIVATE STREET)" along with existing access easement information, if applicable ❑ ❑ Notes: Zoning - include zoning district name, minimum lot area, minimum lot width, maximum density if applicable, and setbacks; if zoning district has different standards based on land use type, include all standards and state the proposed use type(s) Lot - include total number of lots, largest lot area, smallest lot area, and total subdivision area; do not include transfer tracts in total number of lots or largest and smallest lot areas Floodplain - begin with "A PORTION OF THE PROPERTY FALLS WITHIN" or "NO PORTION OF THE PROPERTY FALLS WITHIN", as applicable; if referencing a zone designation, state what that designation means Revised 07/08/2022 MINIMUM REQUIREMENTS FOR BOUNDARY ADJUSTMENT PLATS (CONTINUED) C✓J ❑ List each record owner name and Book and Page or Document Number for deed, name and address of party for whom the plat was prepared, name and address of consultant that performed the survey and prepared the plat ❑ ❑ Legal description for each tract - use standard headers ❑ ❑ Legal descriptions checked against drawing for congruence ❑ ❑ If plat only involves one owner: Owner signature line(s) with notary block(s) - include title after signatory name if owner is not an individual; include "HUSBAND AND WIFE," if applicable; include "A [insert state name] LIMITED LIABILITY COMPANY," or "A [insert state name] CORPORATION," if applicable ❑ ❑ County Recorder of Deeds' certificate - use standard block ❑ ❑ Surveyor's certificate Revised 07/08/2022 IR AL CAP 0.2BG HELD FOR 4" (0.33') FROM LOT LINE 0.01' ESE OF R.O.W. LINE 1/2IN YELLOW CAP UNREADABLE HELD FOR LOT LINE 0.03' WNW OF R.O.W. LINE 1/2IN IRON PIPE "RICHARDS" YELLOW CAP AG HELD FOR NORTH LINE OF LOT 130 0.05' ESE OF R.O.W. LINE 1/2IN IRON PIPE 0.1BG 1.12' S & 1.61' W IR YELLOW CAP "RICHARDS 2232" 0.25BG HELD FOR NORTH LINE LOT 131 0.31' ESE OF EAST ALLEY R.O.W. LINE 1/2IN ROD BENT HELD FOR LOT CORNER YELLOW CAP "BOWEN 2232" 0.2AG HELD FOR LOT LINE 0.11' WNW OF EAST ALLEY R.O.W. LINE IR YELLOW CAP "BOWEN 2232" 0.1BG HELD FOR LOT CORNER 1/2IN IRON ROD BENT 0.29' N & 0.22' W 1/2IN IRON PINCH PIPE HELD FOR LOT LINE 0.11' ESE OF R.O.W. LINE 1/2IN IR RED CAP "AMOS 200700072" HELD FOR LOT LINE 0.08' WNW OF R.O.W. LINE 1/ 2 I N I R O N P I P E A G 0. 1 2 ' W N W O F R . O . W . L I N E R/ W R/ W R/ W 1/2IN IR RED CAP "AMOS 200700072" AGAINST UTILITY POLE HELD FOR LOT LINE 0.54' WNW OF WEST ALLEY R.O.W. LINE Lot 137 East 80' Part of Lot 136 Part Lot 135 Part Lot 132 Part Lot 133 Part Lot 134 Lot 138 Part Lot 131 HELD FOR LOT CORNER 0.09' N & 0.00' E 0.20' N & 0.21' E 0.12' N & 0.05' E HELD FOR LOT LINE 0.15' WNW OF WEST ALLEY R.O.W. LINE 0.20' N & 0.07' W 0.19' N & 0.16' E 0.20' N & 0.06' W HELD FOR LOT LINE 0.63' ESE OF R.O.W. LINE R/WR/WR/WR/W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/ W R/W R/W R/W R/W R/W R/W 158 159 160 161 162 PT S T A : 1 6 1 + 1 7 . 3 0 18 6 18 4 18 5 158+28.97 60.00 LT 159+00.00 65.00 LT 159+27.87 63.25 LT 160+00.00 60.00 LT 160+06.55 60.00 LT 160+22.23 60.00 LT 160+95.35 60.00 LT 184+36.34 45.00 LT 185+91.00 45.00 LT S59° 5 4 ' 2 7 " W 1 1 2 . 7 2 ' ( M ) 1 1 3 . 6 7 ' ( R ) N0 6 ° 1 0 ' 4 9 " E 50 . 2 3 ' ( M ) 5 0 . 0 0 ' ( R ) N83°26'41"W 1 6 5 . 3 5 ' ( M ) S0 6 ° 1 0 ' 4 9 " W 50 . 1 7 ' ( M ) 5 0 . 0 0 ' ( R ) S83°26'41"E 1 6 5 . 3 9 ' N0 6 ° 0 8 ' 0 3 " E 50 . 1 7 ' ( M ) 5 0 . 0 0 ' ( R ) N83°43'57"W 1 0 0 . 4 2 ' ( M ) 1 0 0 . 0 0 ' ( R ) S0 6 ° 1 3 ' 3 6 " W 36 . 2 3 ' ( M ) N87°20'55"E 72.75' (M) S84°11'58"E 28.55' (M) S83°46'20"E 8 0 . 3 6 ' N84°11'58"W 7 3 . 7 5 ' N0 6 ° 1 3 ' 3 6 " E 1 4 9 . 9 8 ' ( M ) 1 5 0 . 0 0 ' ( R ) N0 6 ° 1 2 ' 1 3 " E 1 5 0 . 0 5 ' ( M ) 1 5 0 . 0 0 ' ( R ) STA: 162+31.04 (US RTE 74) = STA: 183+09.31 (SPRIGG ST.) CURVE DATA CHORD BEARING: N85°02'49"W CHORD LENGTH: 97.34' ARC LENGTH: 97.35' RADIUS: 2,924.79' Δ : 001°54'25" 74.65' (M) 74.34' (R ) 16.01'6.69' S0 6 ° 0 8 ' 0 3 " W 1 5 4 . 6 6 ' S84°04'04"E 16.00' EA S E M E N T - 2 3 . 1 2 ' Lot 139 S83°46'20"E 1 0 0 . 3 6 ' 180.72' (M) 18 0 . 0 0 ' ( R ) N0 6 ° 1 2 ' 1 3 " E 24 . 7 2 ' S88°10'12"E 152.60' N74°48'3 2 " E 1 1 7 . 8 7 ' Part Lot 130 Lot 141 Lot 140 West 100.42' Part of Lot 136 EASEMENT - 8.39' PA C I F I C S T ELM ST BE N T O N S T WILLIAM ST GI B O N E Y A V E SP R I G G S T RA N N E Y A V E WALNUT ST BE A U D E A N L N PAR K W A Y D R FO U N T A I N S T AQU A M S I S T EL L I S S T EL L I S S T COLLEGE ST LO R I M I E R S T MO SR 74 (AKA SHAWNEE PKWY)COLLEGE ST PEAR ST FR E D E R I C K S T WILLIAM ST MORGAN OAK S T AS H E R S T FO U N T A I N S T MI D D L E S T W I L L O W S T SP R I G G S T FR E D E R I C K S T GOOD HOPE ST MAPLE ST BLOOMFIELD S T BE N T O N S T JEFFERSON AV E PA C I F I C S T HA N O V E R S T Abbreviations A.G.At Grade / Above if dim. given B.G.Below Grade (R)Record Measurement (M)Measured N/F Now or Formerly VF-100 RE C O R D P L A T O F S U B D I V I S I O N New Public Utility Easement To be Granted by this Plat 65 3 0 H i g h w a y 1 3 W e s t , H a r r i s b u r g , I l l i n o i s 6 2 9 4 6 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 A B C D E F G H J K L M N P SU B M I T T E D B Y : CH E C K E D B Y : DR A W N B Y : DE S I G N E D B Y : CL I E N T P R O J E C T N O . : EN G I N E E R P R O J . N O . : IS S U E D A T E : DE S I G N F I R M L I C E N S E : MA R K D E S C R I P T I O N DA T E SHEET ID Owe n Civ i l, P L L C En g i n e e r i n g & L a n d S u r v e y i n g Q 18 4 . 0 0 8 8 4 4 - 0 0 1 0 21 CL I E N T C O N T A C T : (6 1 8 ) 2 9 7 - 0 3 5 3 w w w . o w e n c i v i l . c o m SC A L E : 0 20'40' 1" = 2 0 ' BA S I S O F B E A R I N G S : W E S T R O W L I N E S S P R I G G S T AL S O R E F E R E N C E D I N T R A C T 2 D E S C R I P T I O N MO S T A T E P L A N E C O O R D . S Y S T E M - E A S T Z O N E HO R I Z O N T A L D A T U M : N A D 8 3 VE R T I C A L D A T U M : N A V D 8 8 N P.O.B. R.O.W. CORNER ALUM. CAP 0.2'BG S S p r i g g S t r e e t (P u b l i c R . O . W . V a r i e s ) Symbol Legend RIGHT OF WAY LINER/W R/W SUBDIVISION BOUNDARY LINE NEW EASEMENT LINE Linetype Legend EXTERNAL PROPERTY LINE CLILA, L.P. Doc. No. 2011-09764 Doc. No. 2024-09926 MONUMENT FOUND 1/2" IRON ROD W/ RED CAP STAMPED "LS CORP 000262" OR AS NOTED N/F The Hamlet Group LLC Doc. No. 2013-13568 N/F Mike & Carol Cochran Properties LLC Doc. No. 2022-04865 Doc. No. 2022-04907 MO State Route 74 (AKA Sha w n e e P a r k w a y ) (Public R.O.W. Varies) Al l e y (1 6 f t P u b l i c R . O . W . ) S E l l i s S t r e e t (6 0 f t P u b l i c R . O . W . ) CENTERLINE LOT LINE TO BE ELIMINATED N/F Lion of Judah International Assoc. of Outreach Ministries, Inc. Doc. No. 2023-04992 McL e a n ' s ( A K A M c C l e a n ' s ) A d d i t i o n Out l o t 2 3 , U . S . P . S . 2 1 9 9 , T 3 0 N , R 1 4 E , 5 t h P . M . North Line of Vacated Alley Per City Ordinance 5870 Doc. No. 2025-09309 11 / 1 2 / 2 0 2 5 DR O DR O DR O DR O Existing Public Utility Easement Doc. No. 2025-09343 Doc. No. 2025-09344 SURVEYOR'S CERTIFICATION ST A T E O F M ISS O U R I P R O F E S SIO NAL L A N D S U R V EYOR DENNIS R. OWEN, JR. NUMBER PLS-2019004373 PROJECT SITE This is to certify that this Map or Plat and the Survey on which it is based were made in accordance with the Current Minimum Standards for Property Boundary Surveys of Urban Property in the State of Missouri. The fieldwork was completed on June 10th, 2025. Date of Plat or Map: November 12th, 2025 _________________________________________________________________________________________ Dennis R. Owen, Jr. Missouri Professional Land Surveyor No. 2019004373 Exp: 12/31/2025 Design Firm License No. 2023047417 Exp: 12/31/2025 FLOOD ZONE INFORMATION FLOOD MAP:29031C0267F EFFECTIVE DATE:January 20, 2016 No Portion of this Property falls within the 1 percent Annual Chance Special Flood Hazard Area This Property is located in Zone X, defined as, "Areas determined to be outside of 0.2% Annual Chance Floodplain" SURVEY NOTES This Resubdivision consolidates and divides a total of 1.506± Ac into two Lots, the smallest thereof is 0.346± Ac, the largest of which is 1.160± Ac. Lot No. 1 has direct access to South Ellis Street. Lot No. 2 has direct access to South Sprigg Street and a 16 feet wide Alley, all of which are Public Right of Ways. Lot No. 2 does not have access to MO State Route 74 (AKA Shawnee Parkway) as this roadway is Access Controlled and the rights of access were deeded away during conveyance of the Right of Way. Reference is made to a survey of the same property by Travis Steffens of Koehler Engineers and Land Surveyors, dated 1/24/2025 (Koehler Drawing No. 39584). *Note that the Right of Way line shown along southeast portion of the property differs from what is shown hereon. It is believed that description of the 9.09 ft by 12.47 ft triangle was sourced from Book 593 Page 641 where it was described as a temporary easement. Reference is made to a survey of Lots 132 thru 135 by R. Christopher Bowen of Bowen Engineering & Surveying dated July 22nd, 2011 for Jansco Outdoors (Bowen Job No. S11-099) Reference is made to Sheet 16 the Right of Way Plans for Route 74 (Job No. JOUO412 C) marked Final Plans. ZONING INFORMATION Per the Zoning Map and Ordinance No. 5863, passed by the City Council on September 15, 2025, the properties that comprise the proposed subdivision are Zoned CBD (Central Business District) and IO (Increased Occupancy Overlay District). Zone CBD (Central Business District) requirements are as follows: Max. Building Height:40 feet or 3 Stories Min. Lot Area:None Min. Lot Width:None Max. Density:None Min. Setbacks Front Yard:None Side Yard:None Rear Yard:None Max. Open Space:None VICINITY MAP SCALE: 1" = 1000' The undersigned, Gaye Blank, President of Morgan Oak Investments, Inc., the General Partner of CLILA, L.P., a Missouri Limited Partnership, owner in fee of part of Lots 131 through 136, all of Lots 137 through 139, and that part of a vacated alley adjoining said lots and vacated by City Ordinance No. 5870, all in Range R of Moses McLean's (AKA McClean's) Addition to the City of Cape Girardeau, being a part of Outlot 23, U.S.P.S. 2199, Township 30 North, Range 14 East of the Fifth Principal Meridian, City and County of Cape Girardeau, Missouri and containing 1.506± acres (65,588.0± square feet) more or less, being more particularly described as follows: Beginning at an aluminum monument (found) at the intersection of the westerly right of way line of South Sprigg Street and the northerly right of way line of Missouri State Route 74 (AKA Shawnee Parkway), said point is located 45 feet opposite Sta: 184+36.34 on South Sprigg Street; thence along said northerly right of way line of Missouri State Route 74 for the following three calls: thence S59°54'27"W 112.72 feet to a point 60 feet opposite Sta: 160+95.35 on Missouri Route 74; thence along a non-tangential curve concave to the south a distance of 97.35 feet, said curve having a chord bearing of N85°02'49"W, a chord length of 97.34 feet and a radius of 2,924.79 feet to a point 60 feet opposite Sta: 160+00.00 on Missouri Route 74; thence N84°11'58"W 73.75 feet to a point 63.25 feet opposite Sta: 159+27.87 on Missouri Route 74; thence leaving said northerly right of way line along the west line of the East 80 feet of Lot 136, N06°12'13"E 24.72 feet to an Iron Rod Set in the south line of Lot 137; thence along said south line, N83°43'57"W 100.42 feet to the southwest corner of Lot 137 and the easterly right of way line of South Ellis Street, passing a 1/2 inch iron rod with red cap stamped LS CORP 000262 at 99.78 feet; thence along said easterly right of way line, N06°13'36"E 149.98 feet to the northwest corner of Lot 139; thence along the north line of Lot 139, S83°46'20"E 180.72 feet to the northeast corner thereof and the westerly right of line of said vacated alley; thence along the northerly line of said vacated alley, S84°04'04"E 16.00 feet to the southwest corner of Lot 131, said corner is marked by a 1/2 inch Iron Rod with yellow cap stamped BOWEN 2232; thence along the west line of Lot 131, N06°10'49"E 50.23 feet to the northwest corner of said Lot, said corner is marked by a 1/2 inch Iron Rod with yellow cap (unreadable); thence along the north line of Lot 131, S83°26'41"E 165.39 feet to the westerly right of way line of South Sprigg Street, said point is marked by a 1/2 inch Iron Rod with red cap stamped LS CORP 000262; thence along said westerly right of way line, S06°08'03"W 154.66 feet to the Point of Beginning, containing 1.506± acres (65,588.0± square feet), more or less. hereby resubdivide said Tract into two (2) lots as shown hereon, which is a true and correct representation of said subdivision, which is hereby named "Blank's Second Subdivision", subject to all existing easements, rights of way, restrictions and licenses which may exist thereon, either written or implied. The new public utility easements shown hereon are hereby granted to the City of Cape Girardeau, Missouri, in perpetuity for public purposes, including the installation, maintenance, repair, replacement, and expansion of City water and sewer systems, and as may be authorized by said City to be used by a public or private utility provider for purposes related to the installation, maintenance, repair, replacement, and expansion of such systems. IN WITNESS WHEREOF, I have hereunto set my hand this __________day of _____________________________, 20__. CLILA, L.P., a Missouri Limited Partnership By:Morgan Oak Investments, Inc., its General Partner By: ___________________________________________ Gaye Blank, President SUBDIVISION DEDICATION CLILA, L.P. Deed Book 1175, Page 920 (AKA Doc. No. 2002-00308) Doc. No. 2011-09764 Doc. No. 2024-09926 Doc. No. 2025-09309 Doc. No. 2026-01276 MONUMENT SET (1/2" IRON ROD W/CAP UNLESS OTHERWISE NOTED) Part of Lots 131 through 136, all of Lots 137 through 139, and that part of a vacated alley adjoining said lots and vacated by City Ordinance No. 5870, all in Range R of Moses McLean's (AKA McClean's) Addition to the City of Cape Girardeau, being a part of Outlot 23, U.S.P.S. 2199, Township 30 North, Range 14 East of the Fifth Principal Meridian, City and County of Cape Girardeau, Missouri. COUNTY RECORDER'S CERTIFICATION State of Missouri County of Cape Girardeau Filed for record in the office of the County Recorder of Deeds of Cape Girardeau County, Missouri duly recorded under Document Number ______________________________________, at Jackson, Missouri, on this ______________ day of _____________________________, 20_____. _______________________________________________________________ Andrew David Blattner, Recorder of Deeds - Cape Girardeau County, Missouri CITY CERTIFICATION State of Missouri County of Cape Girardeau I, ____________________________________, City Clerk of the City of Cape Girardeau, Missouri, hereby certify that this plat was approved by the City of Cape Girardeau, Missouri by Ordinance No. _____________________________ passed and approved this ______________ day of _____________________________, 20_____. _______________________________________________________________ City Clerk of the City of Cape Girardeau, Missouri }S.S. }S.S. NOTARY CERTIFICATION State of Missouri County of Cape Girardeau On this __________ day of ____________________ in the year __________ , before me, the undersigned notary public, personally appeared Gaye Blank, President of Morgan Oak Investments, Inc., the General Partner of CLILA, L.P., a Missouri Limited Partnership, known to me to be the person whose name is subscribed to the within instrument and acknowledged that they executed the same as the free act and deed of said Limited Partnership for the purposes therein contained. In witness whereof, I hereunto set my hand and official seal. ______________________________________________________________________ ____________________________ Notary Public Expiration }S.S. N/F City of Cape Girardeau Book 1387, Pg 676 Doc. No. 2003-20506 0.346± Ac (15,059.8± Sq Ft) LOT No. 1 1.160± Ac (50,528.2± Sq Ft) LOT No. 2 BL A N K ' S S E C O N D S U B D I V I S I O N HW Y 7 4 , E L L I S S T . , & S . S P R I G G S T . , C A P E G I R A R D E A U , M O 6 3 7 0 3 Pr e p a r e d F o r : H U B B A R D E N T E R P R I S E S , L L C 70 E a s t S c h o o l S t r e e t , B o n n e T e r r e , S t . F r a n c o i s , M O , 6 3 6 2 8 20 2 5 - 0 0 2 C. W A L K E R N RECORD PLAT: BLANK'S SECOND SUBDIVISION 1 1 1 / 2 4 / 2 5 Re n a m e S u b d i v i s i o n p e r C i t y R e q u e s t 2 1 / 1 2 / 2 6 Re v i s i o n s t o a d d r e s s C i t y R e v i e w Co m m e n t s d a t e d 1 / 6 / 2 6 NEW LOT LINE New 10ft Public Utility Easement To be Granted by this Plat 10' 10' 10' 10' New 10ft Public Utility Easement To be Granted by this Plat EXISTING EASEMENT TO REMAIN EXCEPTION NOTE An Exception is shown for the omission of the required 10-foot public utility easement along the rear lot lines of Lot No.1 and Lot No. 2. STORMWATER MANAGEMENT SYSTEM MAINTENANCE NOTE The owner of each lot within the subdivision is jointly and severally responsible for the maintenance of all components of the stormwater management system not located in a public right of way or public drainage easement as required by Chapter 23 of the Code of Ordinances of the City of Cape Girardeau, Missouri. This provision hereby constitutes a deed restriction in satisfaction of Chapter 25 of said Code of Ordinances. Said deed restriction is perpetual and shall run with the land BILLBOARD EASEMENT NOTE Billboard Easement described in Doc. No. 2013-15850 is not shown. The Property Owner states the following: "Upon Jansco Investments selling the property to Third Gen, LLC the purchaser (Third Gen LLC) agreed to a 10 year easement for the purposes of obtaining a permit to construct a monopole billboard on said property. As stated, this never materialized and the 10 year period has lapsed. Therefore the easement considerations have expired." 3 1 / 2 1 / 2 6 Re v i s i o n s t o a d d r e s s C i t y 2 n d R e v i e w Co m m e n t s d a t e d 1 / 1 4 / 2 6 4 2 / 2 0 / 2 6 Ch a n g e s d u e t o D o c . N o . 2 0 2 6 - 0 1 2 7 6 Staff: Courtney Davis, Deputy City Clerk Agenda: March 2, 2026 AGENDA REPORT Cape Girardeau City Council Applicant Ward Citizens Academy Brian Belmonte 4 NO Lacy Burnette 5 YES C Donald Harris 5 NO Amy McDonald 4 NO Dan Stitz 5 NO TITLE Appointment to the Golf Course Advisory Board SUMMARY The Municipal Golf Course Advisory Board acts in an advisory capacity to the City Council to review, promote and expedite development and use of the Jaycee Municipal Golf Course facilities. The Board may study any problem or condition relating to the construction, operation, maintenance or improvement of, or addition to the golf course or related facilities and may present its findings and related recommendations to the City Council. The City Council shall appoint the nine members of the Board by formal motion and vote. Members of the Board serve for terms of three years. One member of the Municipal Golf Course Advisory Board shall be a member of Cape Jaycees and designated by that organization as its representative on the Board. Janet Esicar was serving a term that expires November 12, 2027. She recently resigned from the board and it is recommended an appointment for a partial term be made. The following individuals have expressed an interest in serving on the board, and their advisory board applications are attached. STAFF RECOMMENDATION Unless directed otherwise, one appointment to the Golf Advisory Board for a term expiring November 12, 2027, will appear on a future City Council Agenda. BOARD OR COMMISSION RECOMMENDATION The Golf Board met on February 26, 2026 and have recommended Dan Stitz for appointment. ATTACHMENTS • Golf Board Roster.pdf • Belmonte, Brian 09-26-2025.pdf • Burnette, Lacy 10-20-2025.pdf • HARRIS C DONALD 01-08-2026.pdf • McDonald, Amy.06-25-25.pdf • STITZ DAN 02.28.2025.pdf GOLF COURSE ADVISORY BOARD 2/23/2026 NAME TERM #APPOINTED TERM EXPIRES Jarod Handley (Jaycees) P 5/5/2025 9/4/2026 VACANT P 11/12/2027 Jones, Kristen 1 11/17/2025 11/12/2028 P 9/3/2024 11/12/2025 Kelley, Timothy 1 1/5/2026 1/18/2029 P 3/18/2025 1/18/2026 Kneer, Claire 2 11/20/2023 11/12/2026 1 11/2/2020 11/12/2023 Parham, Josh 2 11/4/2024 11/12/2027 1 11/1/2021 11/12/2024 P 3/1/2021 11/12/2021 Pingel, Dale 2 12/1/2025 1/18/2029 1 11/7/2022 11/12/2025 Jared Snell 1 11/17/2025 11/12/2028 Pippins, Lindsey 1 9/5/2023 9/4/2026 P = Partial Term COUNCIL LIAISON: STAFF LIAISON: Doug Gannon, Parks Director (Coordinator: Natalia Beasley) DESCRIPTION: Recommends policy regarding capital improvements and programming to staff. One member shall be a member of Cape Jaycees and designated by that organization as its representative. NUMBER OF MEMBERS: 9 MEETING TIME: Bi‐Monthly (even months), Fourth Thursday at noon at the Osage Centre TERM LIMIT: 3 Full Term Limits (3‐Year Terms) RESIDENCY: City of Cape Girardeau Name Brian Belmonte Primary Phone 573-219-2494 Address 2601 Independence Street Secondary Phone City, State Zip Ward: 4 Cape Girardeau, MO Number of Years as a City of Cape Girardeau Resident 1 E-Mail Address Brianbelmonte499@gmail.com Current Employer and Position AutoZone and CapeNaz Churh of the Nazarene Number in priority order the Board(s) you are interested in serving on. Airport Advisory Board 3 Parks & Recreation Advisory Board Board of Adjustment 2 Planning & Zoning Commission Board of Appeals Public Library Board Convention & Visitors Bureau Advisory Board River Campus Board of Managers 1 Golf Course Advisory Board Show Me Center Board of Managers Historic Preservation Commission Special Business District Advisory Commission Liquor License Review Board Tree Board Special Qualifications for Specific Board(s) (Include Past Board Service): Citizen Academy Graduate : Yes No I've been a member of toastmasters and am currently training to become a fully ordained pastor as I am locally licensed. Truly concerned about the best options and a sticktoitness for Cape. State Why You Are Interested in Serving on The Board(s): For the growth and development of our beautiful City. Educational Background and Experience: Have a masters degree in divinity's. Have done chaplaincy duties for department of corrections as well as serving on Restorative Justice boards putting in over 800 hours a year involved a secretary and vice president on RJO board. Toastmasters and VVA so I'm well aware of proper procedures and The Roberts Rules. Community Activities: Have been elected and served on our Student Council at Watervliet H.S , served as Secretary to Restorative Justice board in Charleston and Bowling Green, MO. And vice president at Toastmasters and Man of Arms for VVA. Also am well acquainted with the Former City Manager, Scott Meyer and Past Major, Jay Knudston. I'm also very familiar with Robert's Rules and Procedures. See regular meeting times on second page. Would you like to receive news from the City via e-mail/blog? Yes No I hereby certify that all statements in this application are true. If appointed, I agree to serve and attend meetings regularly. I understand and agree that absence from three (3) consecutive meetings or four (4) absences in any twelve (12) consecutive months will result in my position being deemed vacant. I will immediately notify the City Clerk’s Office if my residential address changes. Signed: Electronically signed Date Submitted: 09-26-2025 Board Member Applications are valid for one year from the date signed. Date Renewed: RETURN APPLICATION TO: City Clerk’s Office, 44 N. Lorimier Street, Cape Girardeau, MO 63701 E-mail to cityclerk@cityofcape.org ADVISORY BOARD APPLICATION 44 N. Lorimier St., Cape Girardeau, MO 63701, 573-339-6320 INTERNAL USE ONLY Board:______________________________ Date Appointed:______________________ Name Lacy Burnette Primary Phone 573-421-3567 Address 2321 Erna Street Secondary Phone City, State Zip Ward: 5 Cape Girardeau, MO 63701 Number of Years as a City of Cape Girardeau Resident 13 E-Mail Address lacy@creativeedge.tv Current Employer and Position Creative Edge - Client Relationship Manager Number in priority order the Board(s) you are interested in serving on. 1 Airport Advisory Board 2 Parks & Recreation Advisory Board Board of Adjustment Planning & Zoning Commission Board of Appeals 3 Public Library Board Convention & Visitors Bureau Advisory Board River Campus Board of Managers 4 Golf Course Advisory Board Show Me Center Board of Managers Historic Preservation Commission Special Business District Advisory Commission 5 Liquor License Review Board Tree Board Special Qualifications for Specific Board(s) (Include Past Board Service): Citizen Academy Graduate : Yes No As a client relationship manager at Creative Edge, I develop skills in community engagement, planning, and collaboration. I served on the water tax committee and managed a successful local political campaign in November 2024. These roles gave me insight into local government, budgeting, and public communication. I enjoy uniting people to achieve common goals and am confident I can make a positive impact on a city board. State Why You Are Interested in Serving on The Board(s): I care about this community and want to help Cape Girardeau grow. Recently, I have become more involved in volunteering, civic programs, business development, and leadership training. Serving on a city board is a natural next step. I want to help shape Cape’s future and support real progress. Educational Background and Experience: I earned a Business Administration degree from Southeast Missouri State University, majoring in Marketing Communications and minoring in Finance. At Creative Edge, I help local businesses and non-profits strengthen their presence and impact. Community Activities: I graduated from Leadership Cape (Class of 2025) and Cape Girardeau Citizens Academy. I volunteer as an Ambassador for the Cape Girardeau Area Chamber of Commerce, supporting member engagement, ribbon cuttings, and events. I am a Daughters of the American Revolution member and received the Outstanding Member of the Year in 2024. I also serve on the Riverfest Planning Committee. I enjoy volunteering, supporting fundraisers, and giving back. My civic involvement has deepened my commitment to Cape Girardeau. I would be honored to serve on a city board. See regular meeting times on second page. Would you like to receive news from the City via e-mail/blog? Yes No I hereby certify that all statements in this application are true. If appointed, I agree to serve and attend meetings regularly. I understand and agree that absence from three (3) consecutive meetings or four (4) absences in any twelve (12) consecutive months will result in my position being deemed vacant. I will immediately notify the City Clerk’s Office if my residential address changes. Signed: Date Submitted: Board Member Applications are valid for one year from the date signed. Date Renewed: RETURN APPLICATION TO: ADVISORY BOARD APPLICATION 44 N. Lorimier St., Cape Girardeau, MO 63701, 573-339-6320 INTERNAL USE ONLY Board:______________________________ Date Appointed:______________________ City Clerk’s Office, 44 N. Lorimier Street, Cape Girardeau, MO 63701 E-mail to cityclerk@cityofcape.org NamePrimaryPhone AddressSecondary Phone City,StateZipWard:NumberofYearsasaCityofCapeGirardeau Resident EͲMailAddress CurrentEmployerandPosition NumberinpriorityordertheBoard(s)youareinterestedinservingon. AirportAdvisoryBoardParks&RecreationAdvisoryBoard BoardofAdjustmentPlanning&ZoningCommission BoardofAppealsPublicLibraryBoard Convention&VisitorsBureauExecutiveBoardRiverCampusBoardofManagers GolfCourseAdvisoryBoardShowMeCenterBoardofManagers HistoricPreservationCommissionSpecialBusinessDistrictAdvisoryCommission LiquorLicenseReviewBoardTreeBoard SpecialQualificationsforSpecificBoard(s)(IncludePastBoardService):CitizenAcademyGraduate:YesNo StateWhyYouAreInterestedinServingonTheBoard(s): EducationalBackgroundandExperience: CommunityActivities: Seeregularmeetingtimesonsecondpage. WouldyouliketoreceivenewsfromtheCityviaeͲmail/blog?YesNo Iherebycertifythatallstatementsinthisapplicationaretrue.Ifappointed,Iagreetoserveandattendmeetingsregularly.I understandandagreethatabsencefromthree(3)consecutivemeetingsorfour(4)absencesinanytwelve(12)consecutivemonths willresultinmypositionbeingdeemedvacant.IwillimmediatelynotifytheCityClerk’sOfficeifmyresidentialaddresschanges. Signed:DateSubmitted: BoardMemberApplicationsarevalidforoneyearfromthedatesigned.DateRenewed: RETURNAPPLICATIONTO: CityClerk’sOffice,P.O.Box617,CapeGirardeau,MO63702Ͳ0617,Fax573Ͳ339Ͳ6302 EͲmailtocityclerk@cityofcape.org ADVISORY BOARD APPLICATION 401 Independence, Cape Girardeau, MO 63702-0617, 573-339-6320 INTERNALUSEONLY Board:______________________________ DateAppointed:______________________ ŝƚŝnjĞŶWŽůŝĐĞĐĂĚĞŵLJ'ƌĂĚƵĂƚĞ zĞƐEŽ Liquor License Review Board Tree Board C. Donald Harris 5735768564 1525 Mississippi Cape Girardeau, MO Ward 5 fb5575@outlook.com Semi-retired History Instructor 2 3 45 1 I am currently an Adjunct History Professor at the MAC Extension Center in Cape Girardeau. I worked in the Cape Girardeau Public School System from 2007-2015. I am also a retired State of Missouri Worker with almost 25 years of experience. I want to serve the people of Cape Girardeau to help it reach it's potential. I have a B.S in Education from Southeast Missouri State University that I received in 1980. I also received a M.A. in History from Southeast Missouri State University in 1994. I have been officiating track and field and cross country at Southeast Missouri State University and local high schools for several years. ://Electronically 02/22/24 02/05/2025 01/08/2026 Name Amy McDonald Primary Phone 573-450-3767 Address 2512 Horseshoe Ridge Secondary Phone City, State Zip Ward: Cape Girardeau, MO 63701 4 Number of Years as a City of Cape Girardeau Resident 40 E‐Mail Address Momof2macs@sbcglobal.net Current Employer and Position Cape Girardeau Public School Foundation Number in priority order the Board(s) you are interested in serving on. Airport Advisory Board Parks & Recreation Advisory Board Board of Adjustment Planning & Zoning Commission Board of Appeals Public Library Board Convention & Visitors Bureau Advisory Board River Campus Board of Managers 1 Golf Course Advisory Board Show Me Center Board of Managers Historic Preservation Commission Special Business District Advisory Commission Liquor License Review Board Tree Board Special Qualifications for Specific Board(s) (Include Past Board Service): Citizen Academy Graduate : Yes No I am an active golfer and regularly play at both Jaycee Golf Course and Cape Country Club, giving me firsthand insight into course operations and the needs of local players. I manage marketing and public relations for a nonprofit organization, which could help promote course events, attract new players, and enhance community engagement. I handle budgeting and finance in my current role, equipping me to understand funding priorities and support sound financial decisions for the course. I have extensive experience in event planning and hospitality, which would be valuable for organizing tournaments and improving the overall golfer experience. Working in the nonprofit sector has strengthened my skills in community service, strategic planning, and collaboration, All skills I look forward to contributing to the advisory board State Why You Are Interested in Serving on The Board(s): I am an active golfer at Jaycee Golf Course and also play at Cape Country Club. I’m interested in serving on the Golf Course Advisory Board because I believe I can help make a positive impact. I currently work for a nonprofit organization where I manage responsibilities in marketing and public relations, budgeting and finance, and hospitality and event planning. I would welcome the opportunity to apply these skills to support the growth and improvement of our local golf course and ensure it continues to be a valuable community resource. Educational Background and Experience: Southeast Missouri State Alumni Community Activities: I currently serve on Southeast Council for Philanthropy. Member of Cape Chamber of Commerce See regular meeting times on second page. Would you like to receive news from the City via e‐mail/blog? Yes No I hereby certify that all statements in this application are true. If appointed, I agree to serve and attend meetings regularly. I understand and agree that absence from three (3) consecutive meetings or four (4) absences in any twelve (12) consecutive months will result in my position being deemed vacant. I will immediately notify the City Clerk’s Office if my residential address changes. Signed: Submitted electronically Date Submitted: 06/25/2025 Board Member Applications are valid for one year from the date signed. Date Renewed: RETURN APPLICATION TO: City Clerk’s Office, 44 N. Lorimier Street, Cape Girardeau, MO 63701 E‐mail to cityclerk@cityofcape.org ADVISORY BOARD APPLICATION 44 N. Lorimier St., Cape Girardeau, MO 63701, 573-339-6320 INTERNAL USE ONLY Board:______________________________ Date Appointed:______________________ ADVISORY BOARD APPLICATION CITY of CAPE GIRARDEAU 44 N. Lorimier St., Cape Girardeau, MO 63703, 573-339-6320 Name Dan Stitz Address 2553 Ford Drive City, State Zip Cape Girardeau, MO 63701 E-Mail Address stitzplbginc@yahoo.com Current Employer and Position Retired Ward: Number in priority order the Board(s) you are interested in serving on. Airport Advisory Board Board of Adjustment Board of Appeals Convention & Visitors Bureau Advisory Board 1 Golf Course Advisory Board Historic Preservation Commission Liquor License Review Board Special Qualifications for Specific Board(s) (Include Past Board Service): INTERNAL USE ONLY Board:. ____________ _ Date Appointed:. ________ _ Primary Phone 573-450-2741 Secondary Phone Number of Years as a City of Cape Girardeau Resident 42 Parks & Recreation Advisory Board Planning & Zoning Commission Public Library Board River Campus Board of Managers Show Me Center Board of Managers Special Business District Advisory Commission Tree Board Citizen Academy Graduate : D Yes I have been a business owner for more than 30 years. I served on the Board of Examiners for 18 years. State Why You Are Interested in Serving on The Board(s): I am a golfer and have ideas for improvements at the golf course Educational Background and Experience: Community Activities: See regular meeting times on second page. Would you like to receive news from the City via e-mail/blog? 0Yes 0No I hereby certify that all statements in this application are true. If appointed, I agree to serve and attend meetings regularly. I understand and agree that absence from three (3) consecutive meetings or four (4) absences in any twelve (12) consecutive months will result in y position being deemed vacant. I will immediately notify the City Clerk's Office if my residential address changes. RETURN APPLICATION TO: City Clerk's Office, 44 N. Lorimier Street, Cape Girardeau, MO 63703 E-mail to cityclerk@cityofcape.org Date Submitted: ;;) -o< ;{'-.:ZS- Date Renewed: 5