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SCS/SBs 1279, 1162 & 1164 - This act creates several community development projects.

KANSAS AND MISSOURI METROPOLITAN CULTURAL DISTRICT - This act authorizes annual appropriations of up to $9.8 million to fund projects undertaken and partially funded by a retail sales tax relating to the Kansas and Missouri Metropolitan Cultural District. Appropriated moneys shall only be used if the cumulative annual sales tax revenue generated exceeds the cumulative annual appropriation. No moneys shall be appropriated until the cultural district retail sales tax is renewed or extended.

ST. LOUIS CARDINALS BALLPARK AND BALLPARK VILLAGE - This act creates the "The Sports Center Redevelopment Authority Act".

St. Louis may establish a "Sports Center Redevelopment Authority". The Authority will consist of a nine-member board of commissioners. Members must be Missouri residents, and the members shall elect the chair of the Authority. The Authority is granted the power of eminent domain.

When a sports center redevelopment plan is adopted by the city and the authority, for a period not to exceed thirty-five years, economic activity taxes generated within the sports center redevelopment area shall be deposited into the special allocation fund of the city for the purposes enumerated, including paying project costs and obligations.

The maximum state appropriation shall not exceed $7 million per year for a maximum of 30 years, for debt service financing that will provide a net sum not to exceed $100 million.

Prior to bonds being issued all parties must deposit funds or financial instruments necessary to complete the construction of the stadium into a construction fund. The awarding authority may not discriminate against bidders based on their becoming or refusing to become signatories with one or more labor organizations.

SPRINGFIELD - Allows for the annual appropriation for funding of an exposition center in Springfield. Beginning in FY 2005, the state shall annually appropriate one half of the new state revenues from the redevelopment area. However, in no event shall the aggregate contribution of the state exceed $18 million and the amount of debt financed shall not exceed $9 million.

BRANSON - Allows for the annual appropriation for funding of a convention center and arena in Branson. Beginning in FY 2005, the state shall annually appropriate one half of the new state revenues from the redevelopment area. However, in no event shall the aggregate contribution of the state exceed $32 million and shall not exceed a $1.4 million appropriation over 23 years.

LOCAL ECONOMIC OPPORTUNITIES FUND - One half of the increased state revenues from sales taxes and income taxes withheld in certain development areas less the debt service obligations will be deposited in the Local Economic Opportunities Fund. The fund is then further subdivided into four regional funds and the regions are established. Funds from the regional subaccounts may be appropriated for infrastructure improvements and economic stimulus projects. Certain political subdivisions receiving funding are excluded from appropriations from the regional subaccounts. The Department of Economic Development shall establish an application and prioritization process. Political subdivisions shall not receive more than 25% of a subaccount and may not receive appropriations for more than five consecutive years.

MISSOURI DOWNTOWN ECONOMIC STIMULUS ACT - Establishes a Missouri Downtown Economic Stimulus Act Joint Legislative Committee which will consist of eight members of the General Assembly, four from each body.

A Downtown Economic Stimulus Authority is created in each municipality upon the enact of an ordinance establishing a development area in accordance with the act. Each Authority will be governed by a Board of Commissioners which will consist of between 3 and 13 members with staggered terms of 3 years. Commissioners will be appointed by the mayor or chief executive.

The powers of the Authority shall be exercised by its Board of Commissioners and powers of the authority are specified. The Authority shall be a public body corporate and politic. Powers granted to the authority are specified, including the right to acquire property by eminent domain within the development area. Certain information must be included in a development plan.

Prior to the adoption of the ordinance designating the development area, adopting a development plan or adopting a development project, the authority must hold a public hearing.

A municipality may adopt development financing for the development project area and a special allocation fund for the deposit of certain taxes from the development area to be apportioned or diverted pursuant to the Real Property Tax Increment Allocation Redevelopment Act if all or a part of the development project area becomes subject to tax increment financing.

The municipality may submit the development plan to the Missouri Development Finance Board for approval of the use of tax increment financing and if submitted must contain certain information. The Missouri Development Finance Board may only approve five projects for tax increment financing.

The Authority must make a report to the Director of the Department of Economic Development by the end of February each year. The Director shall then compile a report for submission to the Governor and General Assembly.

Every five years after the establishment of a development plan, the governing body of the authority must hold a public hearing. The Director of the Department of Economic Development shall provide information and technical assistance as requested by any municipality.

JACKSON COUNTY RESEARCH PARK - The Curators of the University of Missouri are authorized to establish a research, development and office park in Jackson County to foster life sciences related business development.

CINDY KADLEC