No revenue generated by the tax authorized in this section shall be used for any retail development project. At least twenty percent of the revenue generated by the tax authorized in this section shall be used solely for projects directly related to long-term economic development preparation, including but not limited to, the following:
- Acquisition of land;
- Installation of infrastructure for industrial or business parks;
- Improvement of water and wastewater treatment capacity;
- Extension of streets;
- Providing matching dollars for state or federal grants;
- Marketing;
- Construction and operation of job training and education facilities;
- Providing grants and low-interest loans to companies for job training, equipment acquisition, site development, and infrastructure. Not more than twenty-five percent of the revenue generated may be used annually for administrative purposes, including staff and facility costs;
- Historic Development;
- Economic development strategic planning; and
- Workforce housing, child care, and other related projects.
The Economic Development Tax Board and the governing body of the municipality levying the Local Option Economic Development Sales Tax (67.1305, RSMo).
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