| | | | | | | | | City of Independence | | AGENDA ITEM COVER SHEET |
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| | | | | | | | | BILL NO. 22-053 | Ord.No: 19345 |
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| | | | | | | | Agenda Title:
22-053 - 2R. An ordinance approving the Cooperative Agreement among the City of Independence, Missouri, the Independence Square Community Improvement District and the Independence Square Main Street Corporation. |
| | | | | | | | Recommendations:
Staff recommends approval of this cooperative agreement. |
| | | | | | | | Executive Summary:
The City Council passed Ordinance No. 19146 approving the creation of the Independence Square Community Improvement District on August 3, 2020. The CID was created to fund improvements such as streetscape amenities, signage, banners, landscaping, public artworks, maintenance, and other improvements. That ordinance allowed the CID to impose a 1% sales tax on all retail sales within the district. It also requires the CID to enter into a cooperative agreement with the City in order to implement the goals and objectives of their plan. This includes how CID sales tax funds will be administered and the other respective duties and obligations related to those funds. |
| | | | | | | | Previous Activity:
City Council previously passed Ordinance No. 19146 approving the CID petition on August 3, 2020. That ordinance required a cooperative agreement be agreed to between the CID and City. |
| | | | | | | | Background:
Since the approval of Ordinance No. 19146 the CID has held their tax election and has begun collecting their District Sales Tax. At this time the City and CID desire to enter into an agreement, as required by the approving ordinance, regarding the operations of the district including the imposition, administration, and disbursement of the District Sales Tax, the completion of the Public Improvements (as defined herein), and the application of the proceeds of the District Sales Tax. The operations of the district will have no direct impact on the City budget. |
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Fiscal Impact:
The approval of this agreement will have no fiscal impact. District Revenue is deposited directly with the CID from the Missouri Department of Revenue.
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| | | | | | | | | Department: Community Development | Contact Person: Tom Scannell |
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| REVIEWERS: | | Department | Action | | Community Development Department | Approved | | Finance Department | Approved | | City Managers Office | Approved | | City Clerk Department | Approved |
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| Council Action: | Council Action: |
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