BONNE TERRE — The Bonne Terre City Council will decide tonight whether to approve an amendment to the TIF plan which would reallocate funds for a building that the St. Francois County Industrial Development Authority and the Southeast Missouri Regional Planning Commission want to purchase.
The special session, which is open to the public, will be held at 6:30 p.m. today at the library, located at 5 S.W. Main.
First, the council will accept the resolution which was approved by the TIF Commission earlier this month. The resolution is in favor of an amendment to the TIF plan.
With TIF districts, a portion of new revenue from new developments are used to reimburse developers for costs such as property acquisition and public infrastructure.
The amendment plan would not increase the amount of TIF reimbursable costs from the original $11.7 million, but would call for a reallocation of funds.
The summary for the amendment, which was provided by the Bootheel Regional Planning Commission, states the amendment is being made with the intent to spur redevelopment activities in the time left for funding projects through the TIF, which is only 14 years.
A $400,000 line item was added to the amended Area 1 budget for a small business incubator in the Industrial Park to reimburse the groups for property acquisition, construction to complete the building, and planning and legal fees.
The St. Francois County IDA and the Southeast Missouri commission have not yet purchased the property because they are waiting on the amendment and on a grant approval. However, a business is interested in moving in the proposed small business incubator.
Chauncy Buchheit, executive director of the commission, said that business would bring in about 100 jobs. To bring in the business, the groups would have to improve the existing building.
Other proposed changes in the TIF plan would be from a savings on environmental remediation in Area 1 (Industrial Park) and 2 (the Bess property) that has already been completed by the Doe Run Company. The 1998 plan had called for $2 million for environmental remediation in Area 1 and $1 million in Area 2. Those numbers have both been reduced to $200,000. Funding has been reallocated within Area 2 to other funding categories. Reductions in Area 1 has allowed for an additional $2.3 million to be reallocated to Area 3 (Orchard Development).
Bonne Terre’s TIF plan includes three areas and a total of 525 acres. The city has had a TIF district for nine years.
Other ordinances on the agenda tonight for approval include the transfer or a parcel of real estate to the Old Orchard L.C.; an ordinance approving the execution and confirmation of a settlement agreement with the Attorney General and the Department of Natural Resources on April 27, 2006; and an ordinance entering an agreement with Horner and Shifrin Inc. for engineering services for improvements to the Northwest Wastewater Treatment Plant.
Items to be discussed include special census; utility penalty fees; Ted Boyer Memorial Field; Route E extended city limits; and Hub’s Pub.
The council will hear a report from Alliance Water Resources on water and wastewater operations. It will also officially proclaim July 2-8 “Air Force Week” and June 23 as “Colonel William R. Pogue Day.”