{"id":8237,"date":"2012-06-13T12:59:54","date_gmt":"2012-06-13T18:59:54","guid":{"rendered":"http:\/\/www.flovalleynews.com\/?p=8237"},"modified":"2012-06-13T12:59:54","modified_gmt":"2012-06-13T18:59:54","slug":"council-selects-preferred-developer-for-plaza-madrid","status":"publish","type":"post","link":"https:\/\/flovalleynews.com\/?p=8237","title":{"rendered":"Council Selects Preferred Developer For Plaza Madrid"},"content":{"rendered":"<p><em>TIF Process Has Changed<\/em><\/p>\n<p><strong>By Carol Arnett<\/strong><\/p>\n<p>The Florissant City Council\u00a0 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.<\/p>\n<p>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.<\/p>\n<p>\u201cLast time, the city created a TIF commission,\u201d Hessel said. \u201cNow, it is a joint commission with St. Louis County.\u201d\u00a0 The commission will have some members appointed by Mayor Schneider and some from other areas of the county.<\/p>\n<p>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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TIF Process Has Changed By Carol Arnett The Florissant City Council\u00a0 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. 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