COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO.: 635-01
BILL NO.: Perfected SB125
SUBJECT: Community Development: City of Springfield
TYPE: Original
DATE: February 13, 2001
FISCAL SUMMARY
| FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
| Local Government | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
ASSUMPTION
City of Springfield officials assume this proposal is discretionary and would have no fiscal impact to Community Improvement Districts unless, the District Board of Directors would consent to the relocation or removal of property from the district.
Oversight assumes this proposal is permissive and would have no fiscal impact. To remove property or relocate property from a Community Improvement District would require a hearing by the City, and approval by the District Board. Before any action to remove or relocate property the district would have to meet any financial obligation excluding the revenues generated by the property being removed.
In response to identical legislation from last session the Department of Economic Development assumed no fiscal impact.
| FISCAL IMPACT - State Government | FY 2001
(10 Mo.) |
FY 2002 | FY 2003 |
| $0 | $0 | $0 |
| FISCAL IMPACT - Local Government | FY 2001
(10 Mo.) |
FY 2002 | FY 2003 |
| $0 | $0 | $0 |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
This act authorizes the removal of real property from the Springfield Community Improvement District (CID), or relocation from a certain zone of designation to a different zone of designation. In order to move or remove such property the city must conduct a hearing. The District Board of Directors must consent to the relocation or removal of the property and the District must be able to meet any financial obligation excluding the revenues generated by the property petitioning for removal or redesignation.
This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space.
SOURCES OF INFORMATION
Department of Economic Development
City of Springfield
Jeanne Jarrett, CPA
Director
February 13, 2001