Intro
EXECUTIVE ORDER # 06-18
TO: MEMBERS OF THE LEGISLATURE
CLERK OF THE LEGISLATURE
FROM: KATHERYN J. SHIELDS
JACKSON COUNTY EXECUTIVE
DATE: SEPTEMBER 11, 2006
RE: JACKSON COUNTY POLICY FOR SUPPORT OF A
MUNICIPAL TAX INCREMENT FINANCING PROJECT
Title
Tax Increment Financing (TIF) is a statutory mechanism authorized by §§ 99.800 et seq., RSMo, to encourage the redevelopment of “blighted” properties, “conservation areas,” and “economic development areas” as defined in the law. Within a TIF project’s boundaries, the tax “increment” of certain taxes, including real and personal property taxes, sales taxes, and utility taxes, attributable to the increase in assessed valuation and/or collections resulting from the development of the project, are diverted from the taxing entities to a TIF “special allocation fund.” The city or county that established the TIF project then uses this income stream to make infrastructure improvements and pay other costs associated with the project, either on a “pay as you go basis” or through the issuance of TIF bonds or other obligations.
Since tax increments utilized by TIF projects may negatively impact existing tax revenues used by County government to finance essential public services, County representatives on city TIF commissions will thoughtfully apply the following policies and guidelines when considering the approval of city TIF projects utilizing County tax increments.
A County representative on a city TIF commission will consider each TIF project on its own merits. A County representative will supports the use of TIF for a redevelopment or development project which, in the judgement of a city, is in the public’s best interests and in compliance with the state law. Each project should demonstrate a substantial and significant public benefit by constructing public improvements in support of developments that will, by creating new jobs and retaining exis...
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