Council to evaluate special business district for Downtown Chesterfield development | Chesterfield

A special business district (SBD) could be established in Downtown Chesterfield to provide funding for services through a tax levy.

TSG Downtown Chesterfield Redevelopment LLC submitted a petition to establish the SBD in accordance with the requirements of the approved development agreement between the city of Chesterfield and Downtown Chesterfield Redevelopment LLC.

The proposed SBD consists of approximately 100.9 acres bounded by Interstate 64 to the north, Clarkson Road to the east and Chesterfield Parkway West to the south and west.

Downtown Chesterfield will include high rise office, hotel, retail and residential developments, all surrounding a 3.5-acre central park.

The initial tax rate to be levied by the district is a sum not to exceed $0.85 per $100 assessed valuation on real property, tracts, lots or parcels of real property.

The SBD would be a revenue source that would allow the city to provide additional services not currently provided by the city within the proposed district, said Justin Wyse, director of planning.

The types of services would include, among others things, security; maintenance, repair and replacement of streets street lighting, bike paths, pedestrian pathways and landscaped center medians on city streets, and servicing of the public parking garage and public park (including programming for marketing and events).

Establishment of the district is a four-month process that requires multiple steps, said City Administrator Mike Geisel. 

First, a resolution must be approved to establish the SBD.

Next, the City Council will hold a public hearing to consider the establishment of the district on Sept. 17 at 7 p.m. at City Hall. At the public hearing, the council will hear all protests and receive evidence for or against the proposed action. Owners, businesses and members of the public are invited to submit comments to the council before the date of the hearing. 

If approved, the mayor, with consent of the council, would appoint a 7-member advisory board for the district.

“It makes sense because there will be extraordinary expenses and extraordinary services required within the area, so this is the justification for this special business district,” said Mayor Bob Nation.

Geisel added that, “It was a component of the TIF (Tax Increment Financing) District that was approved, and it was a component of the development agreement.”

The resolution of intent for the SBD was approved at a meeting on Sept. 3 by a vote of 7-1 with council member Dan Hurt (Ward 3) voting against.

Wyse noted the resolution itself does not require or constitute approval of the SBD, but simply provides notice of consideration of establishment of the district.