[Ord. 3548, §2]
(a)
Creation
of TIF Commission. The City Council hereby ratifies and confirms the
creation of the Commission established pursuant to the Act (RSMo.
99.820(2)). The Mayor with the consent of the City Council shall appoint
the prescribed number of City representatives, a majority of whom
shall be residents of the city of Rolla (current non-residents serving
on the Commission shall be allowed to continue to serve in that capacity).
This commission shall be known as the "Tax Increment Financing Commission
of Rolla, Missouri" (the "TIF Commission").
[Ord. 3548, §1; Ord. 3765, §1]
(b)
Authority
of TIF Commission. The Commission shall serve as an advisory board
to the City as it relates to the consideration of tax increment financing
proposals submitted by interested parties or initiated by any public
agency in accordance with the Act. The City Council hereby authorizes
and approves the exercise by the TIF Commission of only those powers
that are required by the Act to be exercised by the TIF Commission,
as follows:
(1)
Each
request for proposals shall state the primary objectives of the proposed
redevelopment area or redevelopment project.
(2)
Each
request for proposals shall provide reasonable opportunity for any
person to submit alternative proposals or bids.
(3)
Each
request for proposals shall be mailed to those persons or firms which
the City determines might be interested in submitting a bid, and shall
be published in a newspaper of general circulation in the City. Each
request for proposals shall provide at least fifteen (15) days for
the submission of a proposal.
(4)
Each
proposal must demonstrate that "but for" the use of tax increment
financing, the project is not feasible and would not be completed.
(5)
Criteria
for the selection of proposals will include the impact of the proposed
project on the City and other taxing jurisdictions, including the
projected term for which tax increment financing will be utilized.
The City or the TIF Commission may establish such additional criteria
as it deems appropriate for the selection of bids and proposals.