Hasty and Associate Commissioner Bev Thomas agreed that adopting the RFP and application process was the right move to make regardless, so if Foster or anybody else wants to pursue a TIF, a formal and legal process with guidelines established by Camden County would already be in effect.

The Camden County Commission has adopted a tax increment financing request-for-proposal and application process in the event a development company considers the County for an applicable project.

Tax increment financing, or TIF, utilizes tax funding created by the development to help pay for certain project costs to help bring about a project that might otherwise not be feasible. In the case of a TIF, a TIF Commission with representatives appointed by various public entities as well as the county commission would be appointed to review the TIF plan and make a recommendation with a final decision by the county commission.

Camden County already has a TIF policy in place, adopted years ago before the recession, but has never had a formal RFP process or application because no one has seriously considered a project of that magnitude until D&N Land Company, LLC and local developer Dan Foster signed a memorandum of understanding with the Commission related to a major waterfront resort and convention center pitched in 2015 near a 37-acre tract of land near the intersection of Business Highway 54 and Route KK.

Last December, the Commission approved a petition on behalf of D&N Land Company, LLC to establish The Peninsula Development Community Improvement District. D&N also filed a petition in the 26th Judicial Circuit Court for the creation of a Transportation Development District shortly after in March of 2016. The next step in the financing process would be the application for TIF.

Just last month, at the recommendation of Camden County Attorney Charles McElyea, the Commission agreed to enter an engagement letter for legal counsel for economic development with Gilmore & Bell, a national public finance law firm who specializes in the bonding field.

This came as an attorney representing D&N Land Company, LLC, let the County the know the development project was considering applying for a TIF. However, according to Presiding Commissioner Greg Hasty, Foster is now considering the City of Osage Beach for a potential TIF.

Hasty and Associate Commissioner Bev Thomas agreed that adopting the RFP and application process was the right move to make regardless, so if Foster or anybody else wants to pursue a TIF, a formal and legal process with guidelines established by Camden County would already be in effect.

“We have out TIF policy already in place, this is sort of the formality for doing this,” Thomas said. “Before applying for a TIF, they have to provide to use an RFP based on the one we put out and bring it back to us and present it under these guidelines for Camden County.”

The RFP policy states that each applicant shall submit a fee of $1,000 with each proposal and describes the formal process an applicant must follow including proposal specifications and submission of project plans and details.

The TIF application is a bit more detailed and specific, requiring applicants to provide background and development experience, identification of consultants and project areas and boundaries, and also several questions on the applicant’s potential impact to the area and proof of financial resources.

Thomas made the motion to adopt the two formal policies separately and Hasty seconded at a Commission meeting on Wednesday. Thomas and Hasty both voted yes and the measures passed. Fellow Associate Commissioner Cliff Luber is on vacation and was not present.