A public hearing on a petition to form a Community Improvement District at the Shoppes at Eagles’ Landing has been suspended until April 9 so attorneys can tweak language within the petition.
The hearing was opened Tuesday night during the regular Lake Ozark Board of Aldermen meeting. Doug Stone, attorney for RIS, Inc., the petitioner for the CID, provided an overview of the request to impose an additional 1-cent sales and use tax within the proposed district.
Stone said the TIF plan that allowed for creation of Eagles’ Landing also contemplated formation of a CID. The revenue raised from the 1-cent sales tax can only be spent within the boundaries of the CID, and would be used primarily for retirement of the TIF debt.
Stone said the additional tax will also bring the shopping center in line with Prewitt’s Point in Osage Beach, where an additional 1-cent tax is also in effect. The sales tax rate for Dierbergs, which includes a 1-cent Transportation Development District sales tax, will be 8.475 percent.
Alderman Larry Buschjost asked for clarification on the length of the CID, which can be up to 40 years. He wondered if the petition should be more specific about the intended term of the CID to bring it more in line with the end of the TIF.
City Attorney Roger Gibbons asked Stone how the new revenue would be distributed. With half of the cent earmarked for (Economic Activity Taxes (EATs), Gibbons asked if the CID and RIS, Inc., had a plan for the balance of the revenue.
Alderman Jeff Van Donsel said he didn’t feel the increase in sales tax at Eagles’ Landing would impact business. The CID is only for the development area, not citywide.
“It s a risk the developer takes, not a risk to us,” he said.
As a result of input from Buschjotz and Gibbons, Stone will amend the original petition to reflect the changes for consideration when the hearing is re-convened April 9.
Implementing the CID 1-cent sales tax will boost the Eagles’ Landing sales tax rate to 8.975 percent, the highest sales tax rate in the area. City Administrator Dave Van Dee noted in a memo to staff that the Menards Development and an additional large lot within the development are not included in the proposed CID area.
CIDs are empowered to provide a variety of services and to build or finance a number of different public improvements. A CID is operated and managed by a board of directors whose members may be appointed or elected.
In other business:
•The board approved a resolution writing off a $1,612.17 utility bill for 170 South Fish Haven Road. The account was closed in 2009 after the house burned down in 2006. The property is now covered by Rt. 242.
Page 2 of 2 - •Approved a bill that settles a property tax dispute between the city of Lake Ozark and AT&T Mobility. Cost to the city will be $2,961.09, far less than attorney and possible court costs if the city pursued the case.
•Approved a special event request for the eighth annual Kiwanis Club’s Run for the Beach event from 8:30 to 10 a.m. April 13 from Mills Elementary School.