The Joplin Globe, Joplin, MO

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August 3, 2012

Joplin council to hold special meeting today

From staff reports

JOPLIN, Mo. — The Joplin City Council will hold a special meeting at noon today to discuss approving a possible funding mechanism that could be used for such projects as SPARK.

City staff will ask the council to approve an application to set up the Joplin Community Redevelopment Fund, which would be used by the city to apply for federal tax credits to sell for project funding under the New Markets tax credit program.

That program makes tax credits available to sell to generate money that can be loaned to businesses or invested in projects for economic development in low-income communities.

SPARK is a project that would build a cultural arts complex downtown.

It is one of a number of economic development projects that is to be undertaken by the master developer, Wallace Bajjali Development Partners.

The meeting will be held on the fifth floor of City Hall, 602 S. Main St.

 

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