§ 68-449. Imposition of tax (Central City Economic Development Sales Tax 2017).

(a)

Sales tax enacted. Pursuant to the authority granted by and subject to the provisions of RSMo § 67.1305, a tax for the benefit of the city is hereby imposed upon all sellers for the privilege of engaging in the business of selling tangible personal property or rendering taxable services at retail to the extent and in the manner provided in RSMo §§ 144.010—144.525 and the rules and regulations of the director of revenue issued pursuant thereto. The rate of the tax shall be 1/8 percent on the receipts from the sale at retail of all tangible personal property or taxable services at retail within the city, if such property and such services are subject to taxation by the state under the provisions of RSMo §§ 144.010—144.525. The tax shall become effective October 1, 2017, for a period of ten years and shall apply to ail sales made after September 30, 2017, and shall be collected as provided in RSMo § 67.1305.

(b)

Use of sales tax—Geographic limitations. The sales tax authorized pursuant to this section shall be used for projects located in the area bounded by 9th Street on the north; Gregory Boulevard on the south; The Paseo on the west; and Indiana Avenue on the east.

(c)

Economic development tax board. A five-member economic development tax board shall be established with city representatives appointed by the mayor and approved by the city council pursuant to RSMo § 67.1305 prior to the expenditure of any revenue received pursuant to this sales tax for the purpose of:

(1)

Considering economic development plans, economic development projects, or designations of an economic development area;

(2)

Holding public hearings and providing notice of any such hearings;

(3)

Recommending to the city council actions concerning the adoption of or amendment to economic development plans, economic development projects, or designations of an economic development area; and

(4)

Performing other duties established by the city council.

(d)

Exclusion of revenues. When imposed within a special taxing district this economic development sales tax shall be excluded from the calculation of revenues available to such districts, and no revenues from this sales tax shall be used for the purposes of any such special taxing district unless recommended by the economic development tax board and approved by the governing body imposing the tax. A special taxing district includes, but is not limited to a tax increment financing district, neighborhood improvement district, or community improvement district.

(Ord. No. 160861 , § 5, 1-12-17)