Mo. Rev. Stat. § 353.010
Citation of chapter
This chapter shall be known and may be cited and referred to as "The Urban Redevelopment Corporations Law".
Revised Statutes of Missouri Chapter 353 — Urban Redevelopment Corporations Law
Missouri · statute · Mo. Rev. Stat. ch. 353 · 19 active provisions
Mo. Rev. Stat. § 353.020
Definitions
The following terms, whenever used or referred to in this chapter, mean: (1) "Area", that portion of the city which the legislative authority of such city has found or shall find to be blighted so that the clearance, replanning, rehabilitation, or reconstruction thereof is necessary to effectuate the purposes of this l…
Mo. Rev. Stat. § 353.030
Organization of corporation — contents of articles of agreement
Corporations referred to in this chapter as urban redevelopment corporations may be organized in the following manner: The articles of agreement or association shall be prepared, subscribed and acknowledged, and filed in the office of the secretary of state pursuant to the general corporations laws of the state and sha…
Mo. Rev. Stat. § 353.040
Life insurance company operating as urban redevelopment corporation — limitation on earnings — disposition of surplus
1. Any life insurance company operating as an urban redevelopment corporation under this chapter shall be limited in its net earnings derived exclusively from the ownership or operation of any redevelopment project on real property owned by, or leased to, any such life insurance company, and constructed pursuant to a r…
Mo. Rev. Stat. § 353.050
Use of word "redevelopment" prohibited — exceptions
No corporation now organized under the laws of this state shall change its name to a name, and no such corporation hereafter organized shall have a name, containing the word "redevelopment" as a part thereof except as provided in this chapter. No foreign corporation now authorized to do business in this state shall cha…
Mo. Rev. Stat. § 353.060
Urban redevelopment corporation may operate one or more development projects — powers, public hearing required, when
An urban redevelopment corporation shall operate under this chapter on one or more redevelopment projects pursuant to an authorized development plan, and with respect to each such project shall have such rights, powers, duties, immunities and obligations, not inconsistent with the provisions of this law, as may be conf…
Mo. Rev. Stat. § 353.070
General corporation laws unless conflicting apply
The provisions of the general corporation laws, as presently in effect and as hereafter from time to time amended, shall apply to urban redevelopment corporations, except where such provisions are in conflict with the provisions of this law.
Mo. Rev. Stat. § 353.080
Notice of meetings to holders of income debentures
In the event that any action with respect to which the holders of income debentures shall have the right to vote is proposed to be taken, notice of any meeting at which such action is proposed to be taken shall be given to such holders in the same manner and to the same extent as if they were stockholders entitled to n…
Mo. Rev. Stat. § 353.090
Maintain reserves for specific purposes
An urban redevelopment corporation shall establish and maintain depreciation, obsolescence, and other reserves, also surplus and other accounts, including, among others, a reserve for the payment of taxes according to recognized standard accounting practices.
Mo. Rev. Stat. § 353.100
When corporation may pay interest on its income debentures or dividends on its stock
No urban redevelopment corporation shall pay any interest on its income debentures or dividends on its stock during any dividend year unless there shall exist at the time of such payment no default under any amortization requirements with respect to its indebtedness, nor unless all accrued interest, taxes and other pub…
Mo. Rev. Stat. § 353.110
Real property exempt from taxation — limitation
1. Once the requirements of this section have been complied with, the real property of urban redevelopment corporations acquired pursuant to this chapter shall not be subject to assessment or payment of general ad valorem taxes imposed by the cities affected by this law, or by the state or any political subdivision the…
Mo. Rev. Stat. § 353.120
Transfer by fiduciaries and public agencies of real property to a redevelopment corporation
Notwithstanding any requirement of law to the contrary, or the absence of direct provision therefor in the instrument under which a fiduciary is acting, every executor, administrator, trustee, guardian or any other person, holding trust funds or acting in a fiduciary capacity, unless the instrument under which such fid…
Mo. Rev. Stat. § 353.130
Redevelopment corporation may acquire property
1. An urban redevelopment corporation may acquire real property or secure options in its own name or, in the name of nominees, it may acquire real property by gift, grant, lease, purchase, or otherwise. 2. An urban redevelopment corporation operating pursuant to a redevelopment agreement with a municipality for a parti…
Mo. Rev. Stat. § 353.140
Occupancy of property acquired by corporation by previous owners — conditions
When title to real property has been vested in an urban redevelopment corporation by gift, grant, devise, purchase, or by condemnation proceedings or otherwise, the urban redevelopment corporation may agree with the previous owners of such property, or any tenants continuing to occupy or use it, or any other persons wh…
Mo. Rev. Stat. § 353.150
Borrowing of money and giving of security by corporation
1. Any urban redevelopment corporation may borrow funds and secure the repayment thereof by mortgage which shall contain reasonable amortization provisions and shall be a lien upon no other real property except that forming the whole or a part of a single development area. 2. Certificates, bonds and notes, or part inte…
Mo. Rev. Stat. § 353.160
May accept grants or loans from the United States government
Any urban redevelopment corporation may accept grants or loans of money from the government of the United States or any department or agency thereof.
Mo. Rev. Stat. § 353.170
City may acquire, clear, convey or lease property for use in redevelopment project
Any city subject to this chapter shall have power: (1) To acquire by the exercise of the power of eminent domain, or otherwise, an area designated on a master plan under the authority of the legislative authority of the city as a redevelopment area; (2) To clear any such real property and install, construct, and recons…
Mo. Rev. Stat. § 353.180
Any corporation may purchase shares of stock of urban redevelopment corporation
Any corporation organized under the laws of the state of Missouri, or admitted to do business in the state of Missouri, shall have power to purchase any or all of the shares of stock of an urban redevelopment corporation organized under the provisions of this chapter.
Mo. Rev. Stat. § 353.190
Real property tax abatement not to apply, excursion gambling boats
For projects related to any riverfront development designed to enhance the location of an excursion gambling boat licensed under the provisions of section 313.800 to 313.850, real property tax abatement under chapter 353 shall not apply for each year of the redevelopment project to the assessed value of the real proper…