PUBLIC NOTICE

Please take notice that the Board of Directors of the Downtown North STL Community Improvement District will be holding a Board of Directors meeting on Friday, December 13th at 12pm / noon, virtually via Zoom. The main topic to be addressed at the Board of Directors meeting is passing a resolution imposing the special assessment that has been proposed and supported by a majority of property owners within the district.

This will be an open meeting and all members of the public are welcome to attend via the above Zoom link. A copy of the Agenda for this meeting is below:

agenda

I. Call to order

II. Approval of meeting minutes from 11/25/24 Board meeting

III. Discussion of requirements under MO CID Act for imposition of special assessment and compliance with those requirements

IV. Discussion / approval of resolution imposing special assessment within boundaries of the DNS CID.

MEETING MINUTES

Attending the 12/13/24 Meeting of the Board of Directors (held via Zoom) were Board President John Berglund, Board Members Steve Stone, Jeff Campbell, Dan Pistor, and Craig Heller, acting Executive Director Matt O’Leary, and Julie Maurer.

It was determined that a quorum of Board Members was present and that votes could be taken.

Matt O’Leary indicated that he had circulated meeting minutes from the 11/25/24 Board Meeting and an agenda and draft Resolution for the 12/13/24 Board Meeting. All Board Member acknowledged receive of these documents.

A motion was made to adopt the meeting minutes from the 11/25/24 Board Meeting, which was seconded. A roll call vote was held and passed 5 to 0.

A discussion was held about the proposed Resolution to impose a special assessment on district properties in accordance with the desires of the district property owners. It was determined that the proposed Resolution complied with the MO CID Act and included a majority of signatures from property owners related to parcel ownership and assessed valuation. A motion was made to pass the Resolution, which was seconded. A roll call vote was held and passed 5 to 0.

The business of the meeting having been concluded, a motion to adjourn the Board Meeting was made and seconded. A roll call vote was held and passed 5 to 0. The Board Meeting was accordingly adjourned.

Resolution of Board of Directors on Assessment

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 Aldermen 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 Aldermen 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. Effective Date.
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.