The MU Gateway Tax Increment Financing Commission was established in response to a TIF request for a redevelopment project at Olive Blvd and I-170 (MU Gateway).
In December of 2015 the City released a "Request for Proposals" for redevelopment of the 12+ acre area known as the MU Gateway. Four proposals were received and in April of 2016 the Olivette City Council named Keat Properties as the preferred developer.
At that time Olivette Mayor Ruth Springer said, “The City is excited to partner with Greg Yawitz (Managing Partner of Keat Properties LLC) on this very important development.” The City previously worked with Keat Properties on the 4-acre mixed-use Shoppes at Price Crossing development at 9200 Olive Boulevard. Mayor Springer continued, “The success at Price Crossing, coupled with Greg’s track record of working collaboratively with Olivette citizens, Council, and staff made him the best choice for this development.”
The City first envisioned the 12-and-a-half acre redevelopment area as a single, comprehensive development in 1969. Subsequent City strategic plans in 1991 and 2006 both identified the opportunity to assemble property to create a larger development. However the complexities of assemblage, easements, utilities, and topography have all served to make redevelopment in the private market difficult. It became clear that to have a successful development a public-private partnership would be required.
In October 2016 the City Council established the MU Gateway TIF Commission. Comprised of representatives from area taxing districts, the Commission held its first meeting on November 21.
The TIF Commissioners reviewed the Redevelopment Plan, the Blight Study, and the Cost Benefit Analysis to determine whether, "but for" the public partnership the redevelopment would be possible. A Public Hearing was held on January 9, 2017. TIF Commission reconvened on January 25, 2017 and voted unanimously to approve the TIF Resolution.
RECONVENING OF THE TIF COMMISSION
On October 9, 2018 the City Council reconvened the Gateway TIF Commission. A change in use by the Developer necessitated this process. (The Developer added office space, a parking garage and a hotel to the Redevelopment Plan.)
The Reconvened TIF Commission met for the first time on November 14, 2018. At that meeting they scheduled the Public Hearing for January 3, 2019 7pm at the City Center. The TIF Commission will be discussing the Redevelopment Plan Amendment and the new Cost-Benefit Analysis.
On January 3, 2019, following a Public Hearing, the TIF Commission unanimously approved a resolution recommending City Council approve proposed amendments to the Gateway I-170 Tax Increment Financing (TIF) Redevelopment Plan.
The recommendation is tentatively scheduled to be brought forward to the City Council on January 22, 2019.