The city of O’Fallon now has another Community Improvement District [CID]. Bill No. 7169, approved by a vote of 10-0 at the City Council meeting on Feb. 13, established the Streets of Caledonia CID as a political subdivision with a board of directors. The new mixed-use development will be located near the intersection of I-64 and Route DD.
The district will provide certain public improvements within the boundaries of the Streets of Caledonia, such as various street and roadway improvements, the construction of a parking lot, grading, drainage and detention, curbs, sidewalks, sanitary water systems, and other similar improvements.
According to the bill’s language, the district would be restricted to establishing a sales tax only at a maximum rate of one cent or $1 per $100 of retail sales. The tax applies only to new retail/commercial activity resulting from and supported by the public infrastructure investment and does not include any existing retail operations, nor will it include any additional properties without the consent of the other property owners.