Webster Groves Tax Increment Financing Commission

  1. Functions
  2. Taxing Districts
  3. Douglass Hill Proposed Redevelopment Area
  4. Members
  5. Agendas & Minutes
  6. Contact Information

TIF COMMISSION RECOMMENDS APPROVAL OF DOUGLASS HILL PROJECT

The Webster Groves TIF Commission voted 8-4 on Tuesday, November 23rd to adopt a resolution recommending approval of TIF Financing for the Douglass Hill Proposed Redevelopment. Read the TIF Resolution for the Douglass Hill Proposed Redevelopment Area here

WHAT IS TAX INCREMENT FINANCING?

Tax increment financing (“TIF”) is a method to encourage redevelopment of a “blighted area” or a “conservation area,” as defined under Missouri law.

The law authorizes cities and counties to adopt a redevelopment plan that provides for the redevelopment of a designated area, and to use TIF to fund a portion of the project costs. The net effect of tax increment financing is to permit a developer to use a portion of property taxes that otherwise would be paid on the completed project to repay all or a portion of the development costs. In this manner, future tax increases are not abated, but rather are used to fund costs of the redevelopment project. Read more about how TIF works here.

WHAT DOES THE TIF COMMISSION DO?

The TIF commission conducts the public hearings required under the TIF Act, and makes recommendations to the governing body of the municipality concerning the adoption of redevelopment plans or redevelopment projects and the designation of redevelopment areas. A recommendation of approval only occurs if a majority of the commissioners vote to approve a redevelopment plan, redevelopment project, designation of a redevelopment area, or an amendment; a tie vote is considered a recommendation in opposition. The redevelopment plans, redevelopment projects and the designation of the redevelopment area must receive final approval of the governing body of the municipality.

On July 6, 2021, the Webster Groves City Council adopted Resolution #2021-33 convening the TIF Commission. Read the resolution here.

TIF COMMISSION PUBLIC HEARING

The public hearing of the TIF Commission was held Wednesday, October 27th at the Webster Groves Recreation Center The public attended in person or via Zoom. Watch the public hearing here..