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Messages - kevinhillman

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271
City Government Opinion / Re: What is TIF?
« on: May 14, 2008, 01:56:50 PM »
I agree that the developer gets an advantage under TIF, but he also is taking care of a blighted area that no one is going to fix without assistance.  Please keep in mind that Rolla, Lebanon, and the Lake area are waiting with the same type of proposals.  As such, if St. Robert does not stay competitive with those cities by offering incentives, we will lose the new development and that would hurt the exisiting businesses even more.  The Fields property as it exists now is hurting the city and all of the business on Missouri Ave because it is a blighted area.  It is the 1st thing folks see when they come off FLW.
The CID is not meant to help or hurt the Law Enforcement tax issue, we have been working this plan long before that debate came up.  Also, we were in this process when Waynesville came with the pool idea and we could not reveal where we were at that time because of this plan.  We are trying to put into place a mechanism that would allow us to have funding to do something everyone in the community seems to want.  You are right that a lot of things have to come together to make it work, but we are trying.
Again, if anyone wants to look at the plan or see what we are doing, please come by St. Robert City Hall and see me.  I am more than happy to show you.  I am glad that so many folks are interested in what we are doing.
Kevin Hillman, St. Robert City Attorney

272
City Government Opinion / Re: What is TIF?
« on: May 14, 2008, 04:15:37 AM »
I just wanted to clarify a couple of the comments on TIF financing.  You are right that TIF stands for tax increment financing.  It can generally be used only in a "blighted area."  I do not think there is any question that the Fields Hotel is considered blighted.  It does not abate the taxes for the new business coming into St. Robert in the redevelopment area.  The businesses still pay the same tax rate as all of the other businesses in town so there is no unfair advantage to the new business.  Instead, it funnels a portion of the newly generated property tax and sales tax back to the developer to reimburse him for clean-up costs and costs of the infastructure.  For example, if a property generates $100 in property tax before redevelopment and $1100 after redevelopment, that additional $1000 in new money is subject to TIF.  In the case of the proposed TIF in St. Robert, 75% would go back to the developer and 25% would be "passed through" to the city, county, schools etc.  In addition, 50% of the new sales tax would be subject to TIF as well.  In addition, there will be a CID or community improvement district added in this area.  This would levy an additional 1% sales tax in this area only and that money could be used to build an aquatic center if all goes well.  All of this is subject to what the developer is able to bring in.  If you have any questions about the TIF plan, please feel free to contact me.
Kevin Hillman, St. Robert City Attorney
573-451-2000 ext 1110 or khillman@saintrobert.com

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