Soulard Community Improvement Disctrict
Details about the Soulard Community Improvement Disctrict
A community improvement district, to be known as the “Soulard Community Improvement District” (hereinafter referred to as the “CID”), is hereby 6established pursuant to the CID Act on certain real property described below to provide certain services and construct, reconstruct, install repair, maintain and equip various public improvements, impose a sales and use tax and carry out other functions as set forth in the Petition, which is attached hereto as Appendix A and incorporated herein by this reference. The CID boundaries are set forth in the Petition and are generally described as follows:
Generally bounded by Interstate 55 and Marion Street to the North, 3rd Street and Broadway to the East, Sidney Street to the South, and 18th Street to the West.
|Terrance (Terry) Hoffman Esq.||Chairperson||07/25/2023|
St. Louis City Ordinance 71011 Document
Board Duties and Purpose
The CID is authorized by the CID Act, at any time, to issue obligations, or to enter into agreements with other entities with the authority to issue obligations, for the purpose of carrying out any of its powers, duties, or purposes. Such obligations shall be payable out of all, part or any combination of the revenues of the CID and may be further secured by all or any part of any property or any interest in any property by mortgage or any other security interest granted. Such obligations shall be authorized by resolution of the CID, and if issued by the CID, shall bear such date or dates, and shall mature at such time or times, but not more than twenty (20) years from the date of issuance, as the resolution shall specify. Such obligations shall be in such denomination, bear interest at such rate or rates, be in such form, be payable in such place or places, be subject to redemption as such resolution may provide and be sold at either public or private sale at such prices as the CID shall determine subject to the provisions of Section 4108.170, RSMo.
The CID is also authorized to issue such obligations to refund, in whole or part, obligations previously issued by the CID.
Member RequirementsAppointments require Board of Aldermen approval.
The Petition provides that the CID shall be governed by a Board of Directors consisting of seven (7) individual directors (collectively the “Directors” and each a “Director”), such Directors to be appointed by the Mayor of the City with the consent of the Board of Aldermen, in accordance with the CID Act and the qualifications set forth in the Petition.
Each Director, during his or her term, shall meet the following requirements:
(a) be at least 21 years of age;
(b) be a resident of the State of Missouri; and
(c) either be an owner of real property or its legally authorized representative within the District (“Property Owner”), or an owner
of a business or its legally authorized representative operating within the District (“Business Owner”).
In order to ensure fair representation of the District, the Board representation shall meet the following requirements:
(a) Three (3) residential owner/occupants of residential property and residing within the District;
(b) Two (2) owners of commercial property or business owners within the District;
(c) One (1) nominee of the Soulard Restoration Group; and
(d) One (1) nominee of the Soulard Business Association.
The failure of the Board to meet the preceding representation requirements shall not affect the Board’s authority to hold meetings, exercise any of the District’s powers, or take any action otherwise lawful.