FACILITIESPENDING

City outlines major TIF deal with River City Centre

The City of Cape Girardeau is entering into a Redevelopment Agreement with River City Centre, LLC to implement the RCC Tax Increment Financing Redevelopment Plan for the West Park Mall area. Under the agreement, the developer will advance all project costs and may be reimbursed up to $49.2 million in certified redevelopment costs plus related financing expenses from TIF, CID, and TDD revenues over the life of the project.

Status
PENDING
Document date
September 18, 2023
Contract type
FACILITIES
Vendor
River City Centre Llc
Agency
City of Cape Girardeau · MO

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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
Not to exceed $49,200,000 in reimbursable redevelopment project costs plus specified additional costs
Contract type
FACILITIES
Contract term
From execution in 2023 until the Final TIF Maturity Date (last TIF maturity for all RPAs, up to 23 years from each TIF ordinance, last ordinance by December 31, 2030) or earlier termination under the agreement
Renewal
The agreement runs until the Final TIF Maturity Date, defined as the last maturity among all TIF project areas (each up to 23 years from its TIF ordinance), with the last ordinance to be adopted by December 31, 2030. The City and developer may issue additional TIF obligations or refundings over time, and the City may terminate under specified default or failure conditions; no automatic renewals are specified.
Document type
Agenda
Source document
City of Cape Girardeau Council Meeting Agenda September 2023

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by City of Cape Girardeau?

River City Centre Llc was awarded this facilities contract by City of Cape Girardeau, as recorded on September 18, 2023. The contract value is Not to exceed $49,200,000 in reimbursable redevelopment project costs plus specified additional costs.

How much is the River City Centre Llc contract with City of Cape Girardeau worth?

The River City Centre Llc contract with City of Cape Girardeau is valued at Not to exceed $49,200,000 in reimbursable redevelopment project costs plus specified additional costs, covering facilities work.

What type of contract is this?

This is a Facilities contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in City of Cape Girardeau Council Meeting Agenda September 2023 (Agenda), dated September 18, 2023 from City of Cape Girardeau. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does River City Centre Llc hold?

River City Centre Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View River City Centre Llc's profile

What is City of Cape Girardeau currently buying?

Explore City of Cape Girardeau's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View City of Cape Girardeau's profile

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