Economic Development Retail Sales Tax (EDRST)
NEWS ALERTThe Economic Development Retail Sales Tax Board has received requests for Fiscal Year 2018 Funds. The following organizations applied for FY 18 EDRST funds. The EDRST Board will meet on Thursday, February 16th at 4:00PM at the Heman Park Community Center to review all the applications for funding.
FY 18 APPLICANTS - Overview1. University City Chamber of Commerce - Applications
2. Create Space Generator - Applications
3. Mannequins in the Loop - Application
4. Loop Special Business District - Applications
5. U City in Bloom - Applications
6. Midtown Farmers Market - Applications
7. City of University City Department of Public Works - Applications
8. City of University City Department of Community Development - Applications
In August 2006, the City of University City levied a one-quarter (1/4) percent sales tax on retail sales to be used for economic development purposes. This revenue is based on the amount of sales tax generated through point of sales within the City limits and fluctuates from year to year.
Through the EDRST, funds are being invested in University City programs and projects that encourage the physical and economic redevelopment of major corridors, improve infrastructure, support existing successful business districts, and enhance efforts toward business retention, expansion and attraction. The use of revenues generated by the tax are generally for project administration, land acquisition, infrastructure, water and wastewater treatment capacity, matching state or federal grants related to long-term economic development projects, marketing, training, equipment and infrastructure and other specified uses.
The general purpose of the Economic Development Retail Sales Tax (EDRST) Board is to serve as an advisory committee to the Mayor, City Council and City Staff on matters relating to the Local Option Economic Development Retail Sales Tax, and to perform such other duties as may be assigned by the City Council.
The EDRST Board will assist in facilitating the implementation of Economic Development related goals set forth in the Comprehensive Plan (including all updates), the Olive Boulevard Design Guidelines, and other planning documents and initiatives approved by the City Council. The Board pursues these goals by making recommendations to the Council for the use of the Economic Development Retail Sales Tax. The City’s strategic planning effort includes, but is not limited to, plans for a vibrant, economically healthy community and livable neighborhoods. The plans are also intended to ensure that the City is a center for business and tourism, and a destination for the appreciation of leisure, culture and history.
Each year, the EDRST Board recommends a list of projects to be funded with the EDRST. The recommendation is sent to the City Council as a part of the City budget. Projects are funded on a Fiscal Year, July to June.
Funding Priority Guidelines
FY 17 EDRST Programs and ProjectsThe City is currently in Fiscal Year 2017 (July 2016 - June 2017). The EDRST projects approved for FY 17 can be found here.
EDRST Meetings and Information
Thursday, December 1, 2016 - Meeting Packet
Thursday, February 16, 2017 - Meeting Packet