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Date and Time
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May 26 2020 12:00 PM to 12:30 PM
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Description
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The City of Cape Girardeau, Missouri, is seeking redevelopment proposals for five parcels located at 222, 230 and 260 N. Middle Street and 430 and 440 Broadway (the “Redevelopment Area”).
Developers interested in this opportunity must respond with a written proposal to the City. The City’s primary objectives for the Redevelopment Area include (1) redeveloping, rehabilitating or demolishing the existing structures, (2) promoting sustainable and economically feasible redevelopment capable of generating long-term sales tax, utility tax, and property tax revenues for the City and other taxing jurisdictions, and (3) enhancing the image of the City by promoting high-quality development or building rehabilitation.
Each proposal must demonstrate that “but for” the use of tax increment financing, the project is not feasible and would not be completed. Each proposal will be evaluated to determine how well it supports the City’s objectives for the Redevelopment Area and the impact of the proposed project on the City and other taxing districts (including the projected term for which tax increment financing will be utilized). Notwithstanding anything herein to the contrary, all alternative bids and proposals will be considered. The City reserves the right to accept or reject proposals in its sole discretion.
Proposals must be received no later than 12:00 noon central time on May 26, 2020. Proposals should be directed to the office of the Deputy City Manager, City Hall, 401 Independence Street, Cape Girardeau, Missouri 63703. Interested parties may contact Molly Mehner, Deputy City Manager, at (573) 339-6720 for further information regarding this request.
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