Mo. Rev. Stat. ch. 353

in effect

Mo. Rev. Stat. § 353.010 Citation of chapter.

353.010. Citation of chapter. — This chapter shall be known and may be cited and referred to as "The Urban Redevelopment Corporations Law". (L. 1943 p. 751 § 1, A.L. 1945 p. 1242, A.L. 1969 S.B. 373, A.L. 1976 H.B. 1369, A.L. 1988 H.B. 1738, A.L. 1993 H.B. 566 merged with S.B. 376)

Mo. Rev. Stat. § 353.020 Definitions.

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 law. Any such area may include buildings or improvements not in themselves blighted, and any real property, whether improved or unimproved, the inclusion of which is deemed necessary for the effective clearance, replanning, reconstruction or rehabilitation of the area of which such buildings, improvements or real property form a part; (2) "Blighted area" , the same meaning as defined pursuant to section 99.805 ; (3) "City" or "such cities" , any city within this state and any county of the first classification with a charter form of government and a population of at least nine hundred thousand inhabitants or any county with a charter form of government and with more than six hundred thousand but less than seven hundred thousand inhabitants. The county's authority pursuant to this chapter shall be restricted to the unincorporated areas of such county; (4) "Development plan" , a plan, together with any amendments thereto, for the development of all or any part of a blighted area, which is authorized by the legislative authority of any such city; (5) "Legislative authority" , the city council or board of aldermen of the cities affected by this chapter; (6) "Mortgage" , a mortgage, trust indenture, deed of trust, building and loan contract, or other instrument creating a lien on real property, to secure the payment of an indebtedness, and the indebtedness secured by any of them; (7) "Real property" includes lands, buildings, improvements, land under water, waterfront property, and any and all easements, franchises and hereditaments, corporeal or incorporeal, and every estate, interest, privilege, easement, franchise and right therein, or appurtenant thereto, legal or equitable, including restrictions of record, created by plat, covenant or otherwise, rights-of-way and terms for years; (8) "Redevelopment" , the clearance, replanning, reconstruction or rehabilitation of any blighted area, and the provision for such industrial, commercial, residential or public structures and spaces as may be appropriate, including recreational and other facilities incidental or appurtenant thereto; (9) "Redevelopment project" , a specific work or improvement to effectuate all or any part of a development plan; (10) "Urban redevelopment corporation" , a corporation organized pursuant to this chapter; except that any life insurance company organized pursuant to the laws of, or admitted to do business in, the state of Missouri may from time to time within five years after April 23, 1946, undertake, alone or in conjunction with, or as a lessee of any such life insurance company or urban redevelopment corporation, a redevelopment project pursuant to this chapter, and shall, in its operations with respect to any such redevelopment project, but not otherwise, be deemed to be an urban redevelopment corporation for the purposes of this section and sections 353.010 , 353.040 , 353.060 and 353.110 to 353.160 . (L. 1943 p. 751 § 3, A.L. 1945 p. 1242 § 2, A.L. 1947 V. I p. 393, A.L. 1969 S.B. 373, A.L. 1976 H.B. 1369, A.L. 1988 H.B. 1738, A.L. 1993 H.B. 566 merged with S.B. 376, A.L. 2000 H.B. 1238, A.L. 2004 S.B. 1253, A.L. 2021 S.B. 153 & 97)

Mo. Rev. Stat. § 353.030 Organization of corporation - contents of articles of agreement.

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 shall contain: (1) The name of the proposed corporation, which must have the words "redevelopment corporation" as a part thereof. (2) The purposes for which it is formed which shall be as follows: To acquire, construct, maintain and operate a redevelopment project or redevelopment projects in accordance with the provisions of this law. (3) The amount of the capital stock, and if any be preferred stock the preference thereof. (4) The number of shares of which the capital shall consist all of which shall have a par value. (5) The city in which its principal business office is to be located. (6) Its duration, which shall not exceed ninety-nine years. (7) The number of directors, which shall not be less than three, nor more than thirteen. (8) The names and post-office addresses of the directors for the first year, at least one of whom shall be a resident of the state of Missouri. (9) The names and post-office addresses of the subscribers to the articles of association or agreement. (10) A provision that in the event that income debenture certificates are issued by the corporation, the owners thereof shall have the same right to vote as they would have if possessed of certificates of stock of the amount and par value of the income debenture certificates held by them. The articles may provide for the retirement of income debenture certificates or preferred stock of the corporation as and when there shall be funds available in the treasury of the corporation from the receipt of amortization or sinking fund in installments for the purpose. Interest shall not be paid by the corporation upon such income debenture certificates in excess of nine percent per annum. Provided, however, that this limitation shall not apply to other debt of the corporation. (11) A declaration that the corporation has been organized to serve a public purpose; that all real estate acquired by it and all structures erected by it are to be acquired for the purpose of promoting the public health, safety and welfare, and that the stockholders of the corporation shall when they subscribe to and receive the stock thereof, agree that the net earnings of the corporation shall be limited to an amount not to exceed eight percent per annum of the cost to such corporation of the redevelopment project including the cost of the land, or the balances of such cost as reduced by amortization payments; provided, that the net earnings derived from any redevelopment project shall in no event exceed a sum equal to eight percent per annum upon the entire cost thereof. Such net earnings shall be computed after deducting from gross earnings the following: (a) All costs and expenses of maintenance and operation; (b) Amounts paid for taxes, assessments, insurance premiums and other similar charges; (c) An annual amount sufficient to amortize the cost of the entire project at the end of the period, which shall not be more than sixty years from the date of completion of the project. The development plan may contain provisions satisfactory to the legislative authority authorizing such plan that any surplus earnings in excess of the rate of net earnings provided in this chapter may be held by the corporation as a reserve for maintenance of such rate of return in the future and may be used by the corporation to offset any deficiency in such rate of return which may have occurred in prior years; or may be used to accelerate the amortization payments; or for the enlargement of the project; or for reduction in rentals therein; provided, that any excess of such surplus earnings remaining at the termination of the tax relief granted pursuant to section 353.110 shall be turned over by the corporation to the city. (12) A declaration that such corporations are organized * for the purpose of the clearance, replanning, reconstruction or rehabilitation of blighted areas, and the construction of such industrial, commercial, residential or public structures as may be appropriate, including provisions for recreational and other facilities incidental or appurtenant thereto. (L. 1943 p. 751 § 7, A.L. 1945 p. 1242 § 3, A.L. 1947 V. I p. 393, A.L. 1969 S.B. 373, A.L. 1974 2d Ex. Sess. S.B. 1) Effective 1-09-75 *Word "recognized" appears in original rolls.

Mo. Rev. Stat. § 353.040 Life insurance company operating as urban redevelopment corporation - ...

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 redevelopment plan to an amount not to exceed eight percent per annum of the cost to such company of the redevelopment project including the cost of the land, or the balances of such cost as reduced by amortization payments; provided, that the net earnings derived from any redevelopment project shall in no event exceed a sum equal to eight percent per annum upon the entire cost thereof. Such net earnings shall be computed after deducting from gross earnings the following: (1) All costs and expenses of maintenance and operation; (2) Amounts paid for taxes, assessments, insurance premiums and other similar charges; (3) An annual amount sufficient to amortize the cost of the entire project at the end of the period, which shall be not more than sixty years from the date of completion of the project. 2. The development plan may contain provisions satisfactory to the legislative authority authorizing such plan that any surplus earnings in excess of the rate of net earnings provided in this chapter may be held by the company as a reserve for maintenance of such rate of return in the future and may be used by the company to offset any deficiency in such rate of return which may have occurred in prior years; or may be used to accelerate the amortization payments; or for the enlargement of the project; or for reduction in rentals therein; provided, that any excess of such surplus earnings remaining at the termination of the tax relief granted pursuant to section 353.110 shall be turned over by the company to the city. (L. 1945 p. 1242 § 4, A.L. 1947 V. I p. 393)

Mo. Rev. Stat. § 353.050 Use of word "redevelopment" prohibited - exceptions.

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 change its name to a name, and no such corporation shall hereafter be authorized to do business in the state with a name, containing the word "redevelopment" as a part thereof. (L. 1943 p. 751 § 10, A.L. 1945 p. 1242 § 5)

Mo. Rev. Stat. § 353.060 Urban redevelopment corporation may operate one or more development ...

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 conferred upon it by city ordinance duly enacted by the legislative authority of a city affected by this chapter which is authorizing or has authorized such plan; provided, however, that no such rights or powers, except those previously granted, shall be granted by any governing authority to any urban redevelopment corporation after August 13, 1982, unless the governing authority shall hold a public hearing for the stimulation of comment by those to be affected by any such grant and shall determine thereafter that the area covered by the plan is blighted; provided, however, that notwithstanding the provisions of this section, such urban redevelopment corporation may, as a redeveloper under the provisions of the land clearance for redevelopment authority law, acquire property, by purchase or lease, from a land clearance for redevelopment authority as defined in said law, in the manner and under the terms and conditions specified in said law. (L. 1945 p. 1242 § 6, A.L. 1951 p. 364, A.L. 1982 H.B. 1713, et al.)

Mo. Rev. Stat. § 353.070 General corporation laws unless conflicting apply.

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. (L. 1945 p. 1242 § 7)

Mo. Rev. Stat. § 353.080 Notice of meetings to holders of income debentures.

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 notice of and to vote at such meeting, and any articles filed pursuant to law in the office of the secretary of state with respect to any such action, whether taken with or without meeting, and any affidavit required by law to be annexed to such articles shall contain the same statements or recitals, and such articles shall be subscribed and acknowledged, and such affidavit shall be made, in the same manner as if such debenture holders were stockholders holding shares of an additional class of stock entitled to vote on such action, or with respect to the proceedings provided for in such document. (L. 1945 p. 1242 § 7)

Mo. Rev. Stat. § 353.090 Maintain reserves for specific purposes.

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. (L. 1945 p. 1242 § 8)

Mo. Rev. Stat. § 353.100 When corporation may pay interest on its income debentures or dividends on ...

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 public charges shall have been duly paid or reserves set up for the payment thereof, and adequate reserves provided for depreciation, obsolescence and other proper reserves. (L. 1945 p. 1242 § 9)

Mo. Rev. Stat. § 353.110 Real property exempt from taxation - limitation.

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 thereof, for a period not in excess of ten years after the date upon which such corporations become owners of such real property, except to such extent and in such amount as may be imposed upon such real property during such period measured solely by the amount of the assessed valuation of the land, exclusive of improvements, acquired pursuant to this chapter and owned by such urban redevelopment corporation, as was determined by the assessor of the county in which such real property is located, or, if not located within a county, then by the assessor of such city, for taxes due and payable thereon during the calendar year preceding the calendar year during which the corporation acquired title to such real property. The amounts of such tax assessments shall not be increased during such period so long as the real property is owned by an urban redevelopment corporation and used in accordance with a development plan authorized by the legislative authority of such cities, except as provided under subsection 4 of this section. 2. In the event, however, that any such real property was tax exempt immediately prior to ownership by any urban redevelopment corporation, such assessor or assessors shall, upon acquisition of title thereto by the urban redevelopment corporation, promptly assess such land, exclusive of improvements, at such valuation as shall conform to but not exceed the assessed valuation made during the preceding calendar year of other land, exclusive of improvements, adjacent thereto or in the same general neighborhood, and the amount of such assessed valuation shall not be increased during the period set pursuant to subsection 1 of this section so long as the real property is owned by an urban redevelopment corporation and used in accordance with a development plan authorized by the legislative authority of such cities. For the next ensuing period not in excess of fifteen years, ad valorem taxes upon such real property shall be measured by the assessed valuation thereof as determined by such assessor or assessors upon the basis of not to exceed fifty percent of the true value of such real property, including any improvements thereon, nor shall such valuations be increased above fifty percent of the true value of such real property from year to year during such next ensuing period so long as the real property is owned by an urban redevelopment corporation and used in accordance with an authorized development plan. After a period totaling not more than twenty-five years, such real property shall be subject to assessment and payment of all ad valorem taxes, based on the full true value of the real property; provided, that after the completion of the redevelopment project, as authorized by law or ordinance whenever any urban redevelopment corporation shall elect to pay full taxes, or at the expiration of the period, such real property shall be owned and operated free from any of the conditions, restrictions or provisions of this chapter, and of any ordinance, rule or regulation adopted pursuant thereto, any other law limiting the right of domestic and foreign insurance companies to own and operate real estate to the contrary notwithstanding. 3. No tax abatement or exemption authorized by this section shall become effective unless and until the governing body of the city: (1) Furnishes each political subdivision whose boundaries for ad valorem taxation purposes include any portion of the real property to be affected by such tax abatement or exemption with a written statement of the impact on ad valorem taxes such tax abatement or exemption will have on such political subdivisions and written notice of the hearing to be held in accordance with subdivision (2) of this subsection. The written statement and notice required by this subdivision shall be furnished as provided by local ordinance before the hearing and shall include, but need not be limited to, an estimate of the amount of ad valorem tax revenues of each political subdivision which will be affected by the proposed tax abatement or exemption, based on the estimated assessed valuation of the real property involved as such property would exist before and after it is redeveloped; (2) Conducts a public hearing regarding such tax abatement or exemption, at which hearing all political subdivisions described in subdivision (1) of this subsection shall have the right to be heard on such grant of tax abatement or exemption; (3) Enacts an ordinance which provides for expiration of development rights, including the rights of eminent domain and tax abatement, in the event of failure of the urban redevelopment corporation to acquire ownership of property within the area of the development plan. Such ordinance shall provide for a duration of time within which such property must be acquired, and may allow for acquisition of property under the plan in phases. 4. (1) Notwithstanding any other provision of law to the contrary, payments in lieu of taxes may be imposed by contract between a city and an urban redevelopment corporation which receives tax abatement or exemption on property pursuant to this section. Such payments shall be made to the collector of revenue of the county or city not within a county by December thirty-first of each year payments are due. The governing body of the city shall furnish the collector a copy of any such contract requiring payment in lieu of taxes. The collector shall allocate all revenues received from such payment in lieu of taxes among all taxing authorities whose property tax revenues are affected by the exemption or abatement on the same pro rata basis and in the same manner as the ad valorem property tax revenues received by each taxing authority from such property in the year such payments are due. (2) (a) The provisions of subsection 1 of this section and subdivision (1) of this subsection notwithstanding, beginning August 28, 2018, any district or county imposing a property tax for the purposes of providing emergency services under chapter 190 or 321 shall be entitled to be reimbursed in an amount that is at least fifty percent but not more than one hundred percent of the amount of ad valorem property tax revenues that the district or county would have received in the absence of the tax abatement or exemption provided under this section. (b) An ambulance district board operating under chapter 190 , a fire protection district board operating under chapter 321 , or the governing body of a county operating a 911 center providing emergency or dispatch services under chapter 190 or * 321 shall annually set the reimbursement rate under paragraph (a) of this subdivision prior to the time the assessment is determined by the assessor of the county in which such district is located, or, if not located within a county, then the assessor of such city. If the development plan or redevelopment project is amended by ordinance or by any other means after August 28, 2018, the ambulance or fire protection district board shall have the right to recalculate the reimbursement rate under this subdivision. 5. The provisions of subsection 3 of this section shall not apply to any amendment or future amendment to a phased development plan approved by the governing body of the city prior to the effective date of the provisions of subsection 3 of this section and upon which construction has been in progress pursuant to such phased plan. (L. 1945 p. 1242 § 10, A.L. 1947 V. I p. 393, A.L. 1986 H.B. 1327, A.L. 2018 S.B. 870) *Word "chapter" appears here in original rolls.

Mo. Rev. Stat. § 353.120 Transfer by fiduciaries and public agencies of real property to a ...

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 fiduciary is acting expressly forbids, also the state, its subdivisions, cities, all other public bodies, all public officers, corporations, organized under or subject to the provisions of the banking law (including savings banks, savings and loan associations, trust companies, private bankers and private banking corporations), the state director of finance as conservator, liquidator or rehabilitator of any such person, partnership or corporation, person, partnership and corporations organized under or subject to the provisions of the insurance law, the director of the department of commerce and insurance as conservator, liquidator, or rehabilitator of any such person, partnership or corporation, any of which owns or holds any real property within any blighted area proposed to be cleared or redeveloped by an urban redevelopment corporation, may grant, sell, lease or otherwise transfer any such real property to an urban redevelopment corporation, and receive and hold any cash, mortgages, or other securities or obligations exchanged therefor by such urban redevelopment corporations, and may execute such instruments and do such acts as may be deemed necessary or desirable by them or it and by the urban redevelopment corporations in connection with the development and any development plan. (L. 1943 p. 751 § 18, A.L. 1945 p. 1242 § 11)

Mo. Rev. Stat. § 353.130 Redevelopment corporation may acquire property.

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 particular redevelopment area, which agreement was executed prior to or on December 31, 2006, shall have the right to acquire by the exercise of the power of eminent domain any real property in such redevelopment area in fee simple or other estate which is necessary to accomplish the purpose of this chapter, under such conditions and only when so empowered by the legislative authority of the cities affected by this chapter. 3. An urban redevelopment corporation operating pursuant to a redevelopment agreement with a municipality for a particular redevelopment area, which agreement was executed prior to or on December 31, 2006, may exercise the power of eminent domain in such redevelopment area in the manner provided for corporations in chapter 523 ; or it may exercise the power of eminent domain in the manner provided by any other applicable statutory provision for the exercise of the power of eminent domain. Property already devoted to a public use may be acquired in like manner, provided that no real property belonging to any city, county, or the state, or any political subdivision thereof may be acquired without its consent. (L. 1943 p. 751 § 19, A.L. 1945 p. 1242 § 12, A.L. 2006 H.B. 1944)

Mo. Rev. Stat. § 353.140 Occupancy of property acquired by corporation by previous owners - conditions.

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 who may occupy or use or seek to occupy or use such property, that such former owner, tenant or other persons may occupy or use such property upon the payment of a fixed sum of money for a definite term or upon the payment periodically of an agreed sum of money. Such occupation or use shall not be construed as a tenancy from month to month, nor require the giving of notice by the urban redevelopment corporation for the termination of such occupation or use or the right to such occupation or use, but immediately upon the expiration of the term for which payment has been made the urban redevelopment corporation shall be entitled to possession of the real property and may maintain an action for either unlawful detainer or ejectment for the purpose of recovering immediate possession thereof. (L. 1943 p. 751 § 21, A.L. 1945 p. 1242 § 13, A. 1949 H.B. 2081)

Mo. Rev. Stat. § 353.150 Borrowing of money and giving of security by corporation.

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 interest therein, or any part of an issue thereof, which are secured by a first mortgage on the real property in a development area, or any part thereof, shall be securities in which all the following persons, partnerships, or corporations and public bodies or public officers may legally invest the funds within their control: (1) Every executor, administrator, trustee, guardian, committee or other person or corporation holding trust funds or acting in a fiduciary capacity; (2) Persons, partnerships and corporations organized under or subject to the provisions of the banking law (including savings banks, savings and loan associations and trust companies); (3) The state director of finance as conservator, liquidator or rehabilitator of any such person, partnership or corporation; (4) Persons, partnerships or corporations organized under or subject to the provisions of the insurance law; fraternal benefit societies; and (5) The state director of the department of commerce and insurance as conservator, liquidator or rehabilitator of any such person, partnership or corporation. 3. Any mortgage on the real property in a development area, or any part thereof, may create a first lien, or a second or other junior lien, upon such real property. 4. Any urban redevelopment corporation may sell or otherwise dispose of any or all of the real property acquired by it for the purposes of a redevelopment project. In the event of the sale or other disposition of real property of any urban redevelopment corporation by reason of the foreclosure of any mortgage or other lien, through insolvency or bankruptcy proceedings, by order of any court of competent jurisdiction, by voluntary transfer or otherwise, and the purchaser of such real property of such redevelopment corporation shall continue to use, operate and maintain such real property in accordance with the provisions of any development plan, the legislative authority of any city affected by the provisions of this chapter, may grant the partial tax relief provided in section 353.110 ; but if such real property shall be used for a purpose different than that described in the redevelopment plan, or in the event that the purchaser does not desire the property to continue under the redevelopment plan, or if the legislative authority shall refuse to grant the purchaser continuing tax relief, the real property shall be assessed for ad valorem taxes upon the full true value of the real property and may be owned and operated free from any of the conditions, restrictions or provisions of this chapter. Nothing in this chapter, any development plan, or any contract shall impose a limitation on earnings as a condition to the granting of partial tax relief provided in section 353.110 to a purchaser described in this subsection that is not an urban redevelopment corporation or life insurance company operating as an urban redevelopment corporation. 5. Any limitation on earnings imposed on any purchaser that is not an urban redevelopment corporation or life insurance company operating as an urban redevelopment corporation under any existing or future redevelopment plan or any existing or future contract shall be void. (L. 1943 p. 751 § 22, A.L. 1945 p. 1242 § 14, A.L. 2008 H.B. 2058)

Mo. Rev. Stat. § 353.160 May accept grants or loans from the United States government.

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. (L. 1943 p. 751 § 23, A.L. 1945 p. 1242 § 15)

Mo. Rev. Stat. § 353.170 City may acquire, clear, convey or lease property for use in redevelopment ...

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 reconstruct streets, utilities and any and all other city improvements necessary for the preparation of such area for use in accordance with the provisions of this chapter; and (3) To sell or lease such real property for use in accordance with the provisions of this chapter. (L. 1945 p. 1242 § 16)

Mo. Rev. Stat. § 353.180 Any corporation may purchase shares of stock of urban redevelopment ...

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. (L. 1945 p. 1242 § 17)

Mo. Rev. Stat. § 353.190 Real property tax abatement not to apply, excursion gambling boats.

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 property for taxes due and payable during the calendar year preceding the calendar year during which a redevelopment corporation acquires title to such real property, but shall apply to any increase in the assessed value of such property after the acquisition of the real property by a redevelopment corporation. (L. 1994 H.B. 1248 & 1048 § 16)

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://revisor.mo.gov/main/OneChapter.aspx?chapter=353Fetched: 10/17/2026