Effective - 28 Aug 2007
251.621. Plan required, contents — findings required. — 1. A regional economic development plan shall set forth in writing a general description of the program to be undertaken to accomplish the regional economic development projects and related objectives and shall include, but need not be limited to:
(1) The name, street and mailing address, and phone number of the chairman of the regional economic development district board;
(2) The street address or other description of the location of the development site;
(3) The estimated regional economic development project costs;
(4) The anticipated sources of funds to pay such regional economic development project costs;
(5) Evidence of the commitments to finance such regional economic development project costs;
(6) The anticipated type and term of the sources of funds to pay such regional economic development project costs;
(7) The anticipated type and terms of the obligations to be issued;
(8) The most recent equalized assessed valuation of the property within the regional economic development project area;
(9) An estimate as to the equalized assessed valuation after the regional economic development project area is developed in accordance with a regional economic development plan;
(10) The general land uses to apply in the regional economic development area;
(11) A list of community and economic benefits to result from the regional economic development project;
(12) A list of all development subsidies that any business benefitting from public expenditures in the regional economic development area has previously received for the project, and the name of any other granting body from which such subsidies are sought;
(13) A list of all other public investments made or to be made by this state or units of local government to support infrastructure or other needs generated by the project for which funding under the regional economic development district law is being sought;
(14) A market study for the regional economic development area; and
(15) A certification by the regional economic development district board as to the accuracy of the regional economic development plan.
2. The regional economic development plan may be adopted by a regional economic development district in reliance on findings that a reasonable person would believe:
(1) The regional economic development area has not been subject to growth and development through investment by private enterprise and would not reasonably be anticipated to be developed without the implementation of one or more regional economic development projects and the adoption of incremental tax financing;
(2) The estimated dates of the completion of such regional economic development project and retirement of obligations incurred to finance regional economic development project costs which shall not be more than twenty-five years from the adoption of the resolution approving any regional economic development project, provided that no resolution approving a regional economic development project shall be adopted later than fifteen years from the adoption of the resolution approving the regional economic development plan;
(3) The development plan contains a cost-benefit analysis showing the economic impact of the regional economic development plan on any municipality, county, regional economic development district, and school districts that are at least partially within the boundaries of the regional economic development area. The analysis shall show the impact on the economy if the regional economic development projects are not built according to the regional economic development plan under consideration;
(4) The regional economic development plan does not include the initial development or redevelopment of any gambling establishment; and
(5) An economic feasibility analysis including a pro forma financial statement indicating the return on investment that may be expected without public assistance. The financial statement shall detail any assumptions made, a pro forma statement analysis demonstrating the amount of assistance required to bring the return into a range deemed attractive to private investors, which amount shall not exceed the estimated reimbursable project costs.
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(L. 2007 H.B. 741)
Structure Missouri Revised Statutes
Title XVI - Conservation, Resources and Development
Chapter 251 - Community Affairs, Planning and Development
Section 251.010 - Department created.
Section 251.020 - Definitions.
Section 251.030 - Functions of department.
Section 251.032 - Payments to regional planning commissions, how made — limitation.
Section 251.034 - Matching funds required — limitation on state funds.
Section 251.036 - Application for funds, how made — approval of governor required.
Section 251.040 - Department may require reimbursement from political subdivisions.
Section 251.050 - Director, appointment, compensation.
Section 251.060 - Duties of director.
Section 251.080 - Director may delegate his duties, structure department, appoint committees.
Section 251.090 - Powers of department.
Section 251.100 - Office of department to be in Jefferson City.
Section 251.110 - Biennial report to be submitted.
Section 251.120 - Interference with other state agencies or local governments not intended.
Section 251.140 - Transfer of duties and funds of office of state and regional planning.
Section 251.150 - Short title.
Section 251.170 - Department official state planning agency — powers and duties.
Section 251.180 - Projects covered.
Section 251.190 - State office, functions and powers.
Section 251.200 - Governor may assign state office additional duties.
Section 251.210 - State office annual report.
Section 251.220 - Source of matching funds.
Section 251.240 - State office in Jefferson City.
Section 251.250 - Regional commissions — membership — terms — qualifications.
Section 251.260 - Expenses of regional commission members.
Section 251.270 - Regional commission officers — meetings — records.
Section 251.280 - Regional commission may employ executive secretary, employees, consultants.
Section 251.290 - Regional commission may appoint advisory group — expenses of advisory members.
Section 251.300 - Regional commission, powers and duties — functions advisory only.
Section 251.310 - Regional commission annual report, to whom made.
Section 251.320 - Regional plan, contents.
Section 251.330 - Plan to be filed — hearing — notice.
Section 251.340 - Adoption of plan.
Section 251.350 - Certification of plan to local governmental units.
Section 251.360 - Selection of sites for facilities included in regional plan.
Section 251.370 - Adoption of plan by local governmental units — hearing — notice.
Section 251.380 - Authorized planning units may contract with federal, state, or local governments.
Section 251.390 - Regional commission may accept funds.
Section 251.400 - Regional commission budget — apportionment of costs to local units.
Section 251.410 - Regional commission may be compensated for unique services.
Section 251.420 - Regional commission may accept payment in kind from local units.
Section 251.440 - Dissolution of regional commission, procedure.
Section 251.470 - Citation of law.
Section 251.473 - Definitions.
Section 251.476 - Missouri main street program, established — purposes.
Section 251.479 - Techniques to be employed by program.
Section 251.481 - Plan, development of, contents of — pilot cities.
Section 251.483 - Duties of department of economic development.
Section 251.485 - Missouri main street program fund, created — uses of fund — fund not to lapse.
Section 251.500 - Definitions.
Section 251.505 - Economic development district, established, how, purpose — board established, how.
Section 251.510 - Powers of board.
Section 251.600 - Citation of law.
Section 251.603 - Definitions.
Section 251.605 - District may be established — board, members, how appointed.
Section 251.610 - Powers of the board.
Section 251.621 - Plan required, contents — findings required.
Section 251.624 - Termination of incremental tax financing, when, procedure.
Section 251.630 - Issuance of bonds, purpose — refunding — interest exempt from state taxation.