Section 2-326 Definitions.

    The following definitions apply to this division:

    Act means the Real Property Tax Increment Allocation Redevelopment Act, RSMo §§ 99.800 thru 99.865, as amended.

    Redevelopment area means an area designated by the city in respect to which the city, after consideration and recommendation of its TIF Commission, has made a finding that there exist conditions which caused the area to be classified as a blighted area, a conservation area, an economic development area or an enterprise zone pursuant to RSMo §§ 135.200 to 135.256, or a combination thereof, which area includes only those parcels of real property directly and substantially benefited by the proposed redevelopment project.

    Redevelopment plan means the comprehensive plan for redevelopment of a redevelopment area by the payment of redevelopment costs to reduce or eliminate those conditions, the existence of which qualified the redevelopment area as a blighted area, a conservation area, an economic development area or a combination thereof, and thereby enhance the tax base of the taxing districts which extend into the redevelopment area. Each redevelopment plan adopted shall conform to the requirements of Section 99.810 of the Act.

    Redevelopment project means any redevelopment project within a designated redevelopment area in furtherance of the objectives of the redevelopment plan.

    TIF Commission means the Tax Increment Financing Commission of the City of Columbia, Missouri.

Editor's note--Ord. No. 21571, § 1, adopted January 7, 2013, recodified Article V.  The previous applicable sections were Sections 2-375.05 - 2-375.08.

(Ord. 21571, Amended, 01/07/2013, Prior Text)