HCS HB 293 -- CONTIGUOUS PROPERTY REDEVELOPMENT FUND

SPONSOR:  Shelton (Kennedy)

COMMITTEE ACTION:  Voted "do pass" by the Committee on Municipal
Corporations by a vote of 11 to 0.

This substitute creates the Contiguous Property Redevelopment
Fund within the Department of Economic Development.  The fund
will be used for grants to the City of St. Louis, St. Louis
County, Greene County, Kansas City, and Jackson County for
acquiring and redeveloping contiguous properties within the
areas.  The department may promulgate rules for the
administration of the program, including the form used to apply
for the grants.  The department is to give preference to those
projects proposing the assembly of a greater number of acres
than other projects and those projects for which a private
interest in the usage of the property exists, once redevelopment
of the property is completed.

The provisions of the substitute expire on August 28, 2006.

FISCAL NOTE:  Estimated Net Cost to General Revenue Fund of $0
in FY 2002, $61,773 to Unknown in FY 2003, and $50,687 to
Unknown in FY 2004.  Subject to appropriation.

PROPONENTS:  Supporters say that the bill will provide a means
for investing in economic development activities in the St.
Louis area.  Supporters also state that investments in economic
development activities will result in maintaining economic
development activities and building the tax base of the St.
Louis area.

Testifying for the bill were Representative Kennedy; St. Louis
Regional Empowerment Zone; St. Louis Inner City Competitive
Alliance; St. Louis 2004; St. Louis Development Corporation; St.
Louis Regional Chamber and Growth Association; and St. Louis
Municipal League.

OPPONENTS:  There was no opposition voiced to the committee.

Joseph Deering, Legislative Analyst

Missouri House of Representatives
Last Updated November 26, 2001 at 11:43 am