RESOLUTION OF THE BOARD OF DIRECTORS OF THE
DOWNTOWN NORTH STL COMMUNITY IMPROVEMENT
DISTRICT, INC. TO LEVY SPECIAL ASSESSMENTS
AGAINST REAL PROPERTY BENEFITED WITHIN THE
DOWNTOWN NORTH STL COMMUNITY IMPROVEMENT
DISTRICT, INC.
WHEREAS, the Downtown North Stl Community Improvement District, Inc. (the
“District”) is a not-for-profit corporation organized and existing in good standing under Chapter 355 of the Missouri Revised Statutes, with all power and rights of like or similar corporations, acting by and through its Board of Directors (the “Board of Directors”); and
WHEREAS, on November 22, 2024, the Board of Aldermen of the City of St. Louis passed out of the Board of Alderman Board Bill 102 which created the District. At the end of the day of December 12, 2024, 20 days had passed without the Mayor of the City of St. Louis sending to the Board of Alderman Board Bill 102 with her disapproval endorsed thereon. As a result, per Article IV, Section 17 of the City Charter, Board Bill 102 passed into law and became Ordinance _______ (the “Ordinance”), thereby approving the Petition for the Establishment of the District (the “Petition”); and
WHEREAS, the Petition authorizes the District to levy special assessments against real property within the boundaries of the District; and
WHEREAS, a Petition for the Levy of Annual Real Estate Assessment Against Property in
the District (the “Special Assessment Petition”) was submitted and has been reviewed by the
District; and
WHEREAS, the Board of Directors has determined that the Special Assessment Petition
complies with the requirements of Mo. Rev. Stat. § 67.1401, et seq. (the “Act”); and
WHEREAS, pursuant to the Special Assessment Petition, the Board desires to levy a special assessment against real property within the boundaries of the District for the purpose of providing revenue for the specific services, programs and improvements in the District as set forth in the Petition.
NOW, THEREFORE, THE BOARD OF DIRECTORS OF THE DOWNTOWN NORTH STL COMMUNITY IMPROVEMENT DISTRICT, INC. DOES HEREBY RESOLVE,
DETERMINE AND ORDER AS FOLLOWS:
Section 1. Findings.
(a) The Board of Directors hereby finds and determines those matters set forth
in the preambles hereof as fully and completely as if set out in full in this Section 1.
(b) The Board of Directors hereby finds and determines that the Special Assessment Petition is in substantially the form required by the Act and complies with the requirements of the Act.
Section 2. Special Assessment.
(a) There shall be levied and assessed, beginning in calendar year 2025 and each year thereafter for a period of ten (10) years, against each tract, lot or parcel of real property in the District, as described in the Petition, a special assessment in an amount not to exceed $0.04256 per lot square foot and $0.02326 per square foot per floor for each floor above the first floor (the “Special Assessment”). This Special Assessment will be levied and assessed “in advance”. This means, as an example, that the levy and assessment for calendar year 2025 will appear on the City of St. Louis property tax bill issued at the end of 2024. This also applies to the nine (9) following years.
(b) Each Special Assessment, after the first, may be annually increased beginning in calendar year 2026 and each year thereafter by an amount not to exceed a 4% annual average over the 10-year term.
(c) For the avoidance of doubt, the final Special Assessment authorized by this Resolution shall be levied and assessed in advance in calendar year 2034, though the Special Assessment will appear on the City property tax bill issued in late 2033.
Section 3. Actions of Officers Authorized. The officers of the District are authorized and directed to execute all documents and take such actions as they may deem necessary or advisable in order to carry out and perform the purposes of this Resolution, or to carry out the matters authorized herein with no such further action of the Board of Directors necessary to authorize such action, and the execution of such documents or taking of such action shall be conclusive evidence of such necessity or advisability.
Section 4. Rights Under Resolution Limited. No rights shall be conferred by this Resolution upon any person or entity other than the District.
Section 5. Governing Law. The laws of the State of Missouri shall govern this Resolution.
Section 6. Severability. It is hereby declared to be the intention of the Board of Directors that each and every part, section and subsection of this Resolution shall be separate and severable from each and every other part, section and subsection hereof and that the Board of Directors intends to adopt each said part, section and subsection separately and independently of any other part, section and subsection. In the event that any part, section or subsection of this Resolution shall be determined to be or to have been unlawful or unconstitutional, the remaining parts, sections and subsections shall be and remain in full force and effect, unless the court making
such finding shall determine that the valid portions standing alone are incomplete and are incapable of being executed in accordance with the intent of this Resolution.
Section 7. No Personal Liability. No member of the Board of Directors, officer, employee or agent of the District shall have any personal liability for acts taken in accordance with this Resolution.
Section 8. Payment of Expenses. The Treasurer is hereby authorized and directed to
pay or cause to be paid all costs, expenses and fees incurred in connection with or incidental to
this Resolution.
Section 9. This Resolution shall be in full force and effect as of the date of adoption.
ADOPTED by the Board of Directors of The Downtown North Stl Community Improvement District, Inc. this 13th day of December, 2024.
THE
DOWNTOWN NORTH STL COMMUNITY
IMPROVEMENT DISTRICT, INC.
By_
John Berglund
President of the Board of Directors
ATTEST:
By_
Dan Pistor
Secretary of the Board of Directors