The Joplin Globe, Joplin, MO

Top Stories

March 6, 2013

Senate committee considering $15 million grant for Joplin instead of creating new state TIF

JOPLIN, Mo. — Wallace said the chairman of the Senate’s economic development committee “wanted to propose something in committee that is a simplified version” of the aid sought by Joplin toward the $806 million in redevelopment projects.

The city has approved a local TIF district that would encompass the tornado zone and much of the center and north sections of the city, including downtown, to generate a portion of the funding for the project.

The TIF is projected to produce about $57 million. If a state TIF or “Super TIF” were enacted, it would have captured approximately $15.9 million toward that total.

Wallace said telephone conferences were held yesterday to discuss the proposal to simplify the aid to Joplin.

He also said his firm’s legislative affairs consultant analyzed the proposal and the conclusion was that by forgoing the legal costs and other expenses of setting up and administering a state TIF, “we would be better off with the grant of $15 million.”

Joplin’s city attorney, Brian Head, has traveled to Jefferson City to testify today on behalf of the proposal.

“There is still a lot of discussion that needs to take place (along with consultation with the governor) but we saw it as something that Joplin needs,” Wallace said.

 He also said that state Sen. Ron Richard, R-Joplin, who is vice chairman of the Senate Jobs, Economic Development and Local Government committee, is involved in investigating the proposal.



 

1
Text Only
Top Stories