PROGRAM GUIDELINES
MDFB will accept applications from small political subdivisions for an allocation of tax credits and contributions made to MDFB as part of the Tax Credit Pilot Program.
ELIGIBILITY:
Applicants:
To be eligible, an applicant must be a small local political subdivision or a local governmental entity created on behalf of or for the benefit of a local political subdivision. Such an applicant must be a city with a population less than 20,000, a county with a population less than 50,000, or a village. Applications must be authorized by duly adopted resolutions or ordinances of the elected governing body, and signed by the chief elected official or designated representative. A duly executed copy of the authorizing resolution or ordinance must be attached to the application.
Project:
The project must qualify as a public infrastructure facility as determined under Chapter 100.255(9) and (14) of the Board’s statutes. Awards can only be made to local governments for use by the local government or the ultimate project beneficiary and only for land acquisition and depreciable capital costs incurred or to be incurred on improvements to real property for qualified public infrastructure projects. Proceeds cannot be used to pay for operating costs, short-term assets that are typically expensed, rolling stock, or furniture, fixtures and equipment having a depreciable life of less than five (5) years.
“Infrastructure facilities” means the highways, streets, bridges, water supply and distribution systems, mass transportation facilities and equipment, telecommunication facilities, jails and prisons, sewers and sewage treatment facilities, wastewater treatment facilities, airports, railroads, reservoirs, dams and waterways in this State, acquisition of blighted real estate and the improvements thereon, demolition of existing structures and preparation of sites in anticipation of development, public facilities and any other improvements provided by any form of government or development agency.
“Public facility” means any facility or improvements available for use by the general public including facilities for which user or other fees are charged on a nondiscriminatory basis.
Size of Request:
It is anticipated that projects will range in scope from $50,000 to $250,000. However, larger projects may be considered. It will be expected that some combination of applicants, project beneficiaries, and community contributors, will be necessary to reach the total amount needed to complete the project. Applicants are encouraged to have potential contributors identified and commit available funds towards their project’s success. The general policy will be to have at least 25% of the total project cost being contributed from a source other than the Tax Credit Pilot Program. The Board reserves the right to waive any such contribution requirement. MDFB staff will be available for consultation and participation in any project meetings to assist in the development of additional contributors and leveraged funds.
Review:
Priority will be given to projects that show, or exceed, the level of participation as identified above. Projects should be of importance to the local community and demonstrate community-wide support or be a part of a larger community effort. Applications that are considered complete and eligible by MDFB staff will be presented to the Board at the next convenient meeting for a full review and determination by the Board. At such meeting, the Board may approve, approve with conditions, table, or deny the application all in the Board’s sole and absolute discretion. Following an approval by the Board of the application, the Applicant, the project beneficiary, if any, and the Board will enter into a Tax Credit Agreement to memorialize the authorization of funds and any conditions or limitations placed on such authorization by the Board.
To apply, eligible applicants must complete and submit the two-page Project Application including any relevant attachments. Applications must be complete and include all applicable signatures for consideration. For projects whose principal user or beneficiary is different than the applicant, the Summary Application must be signed by authorized representatives of both entities.
Applications can be submitted by email to mdfb@ded.mo.gov or by mail to MDFB, PO Box 567, Jefferson City MO 65102.
