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TIF Process Has Changed

By Carol Arnett

The Florissant City Council  Monday night held a first reading on a bill designating N3 Retail Developers, LLC as the preferred developer for the Plaza Madrid area. The council also held a first reading on a bill relating to the Tax Increment Financing (TIF) Commission in the city. The developers for Plaza Madrid are seeking a TIF for the project.

In an interview after the meeting, City Attorney John Hessel explained that the TIF process had changed since the last time the city used it, for the Cross Keys redevelopment. The changes were dictated by state legislation.

“Last time, the city created a TIF commission,” Hessel said. “Now, it is a joint commission with St. Louis County.”  The commission will have some members appointed by Mayor Schneider and some from other areas of the county.

Hessel also added that if the TIF commission votes no on a project, a supermajority of the council will have to vote to override the commission. The bill on the TIF Commission, Hessel said, changes the city ordinance regarding TIF to bring it into compliance with the new state process.

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