The 14th and Market Community Improvement District (the “District”) was formed to facilitate the rehabilitation and renovation of the Kiel Opera House. The District can be funded by a special assessment up to the maximum rate (the "Maximum Assessment Rate") that is sufficient in amount to yield the funds necessary to pay the cost of collecting the special assessment, if any, the principal of and interest on bonds (the "Bonds") that may be issued by the LCRA of the City of St. Louis (the "Authority") for the benefit of the District to fund the Project. Said special assessment will be applied in accordance with that certain Cooperation Agreement, among the District, the City and the Authority. The special assessment shall be levied against parcel number 02090000200 (the "Scottrade Center") and parcel number 02090000100 (the "Kiel Opera House") based upon the benefit conferred upon each parcel. The proceeds of the special assessment will be applied towards eliminating blighting conditions in the District through the payment of debt service on the Bonds that may be issued by the Authority to pay the costs of the redevelopment and rehabilitation of the Kiel Opera House. The District further intends to plan and implement the provision of services and/or the development and construction of public improvements that are deemed by the District to be necessary and desirable. The services to be provided to the District shall generally include, but not limited to, (1) safety and security; (2) maintenance of publicly owned areas; (3) landscape and streetscape maintenance; (4) promotion of activities, exhibitions and events within the District; and (5) management and operations.
Reporting Period: July 1, 2015 through June 30, 2016
Date District Established: May 29, 2009
Enacting Ordinance: City of St. Louis Ordinance No. 68377
Municipality: City of St. Louis
County: St. Louis County
District Legal Counsel:
Governing Board of Directors:
Chair: Christopher McKee
Secretary: David Meyer
Treasurer: Phil Siddle
Director: Chris Zimmerman
Director: Joe McKee