The following are three basic, good governance model ordinances. All three are ready to be introduced to the City of St. Louis Board of Alderman this session. Their passage would increase the transparency of the development incentive process, so both elected officials and the public can make more informed decisions regarding the development of our city.
Post Applications Online
To date, only one Tax Increment Financing (TIF) application & redevelopment plan has been available online prior to the first hearing in front of the TIF Commission. This means that the majority of the time the public (and often TIF Commissioners) see applications for the first time minutes before awarding incentive recommendations. This first bill would mandate that TIF applications and any additional materials supplied by the developer should be available online 10 business days (2 weeks) before the TIF Commission public hearing on the project. (click here for bill text)
Disclose Revenue Lost and Gained
Currently, St. Louis Development Corporation projections about lost and gained revenue for tax abated development projects are only disclosed, if at all, to aldermen on their “deal sheets.” This second bill would require the estimates to be included in the text of the associated board bill. (click here for bill text)
Provide Access to Video Recordings
Currently, there is no audio or video record of the development commissions’ meetings. This third bill would require the development commissions (TIF Commission, LRA, LCRA, etc.) to record meetings and post them online, like the City already does with the Board of Aldermen. (click here for bill text)
*We will continue to add to this blog post. Check back for updates.