A proposed TIF district for a new retail shopping area in southeastern Joplin will be considered Monday night by the Joplin City Council.
The two phases of the proposed Boomtown Central Shopping Center are on the agenda as two ordinances for first reading. According to documentation provided to council members, the plan calls for the development of almost 65 acres south of 32nd Street on both sides of Hammons Boulevard. The first phase would occur west of Hammons Boulevard, and the second phase to the east.
Development firm Summit Denali has confirmed that the first phase would include a 206,209-square-foot Menards home improvement store. When completed, the shopping district would also have a 50,300-square-foot movie theater complex, 4,400-square-foot gas station, 55,980-square-foot grocery store and 124,480 square feet of additional retail space. So far, only Menards has been confirmed by the developers.
Developers are asking for a tax increment financing district to help with more than $17.5 million plus interest of the development's estimated $77.9 million building cost. According to the agreement council members will consider Monday night:
• All of incremental increases in real property taxes and 50% of incremental increases in economic activity taxes would be allocated back to the developer.
• A quarter of the property taxes collected would be declared as surplus and returned to taxing jurisdictions each year.
• With the exception of purchases at Menards, an additional 1-cent sales tax would be collected in the area
• In a "pay-as-you-go" arrangement, the developer will pay costs upfront and be reimbursed from TIF district revenues.
If the council approves both of the ordinances, they will be tabled until a redevelopment agreement with the developer is approved. That agreement is also on the council's Monday agenda.
In other meeting business:
• The budget for fiscal year 2020 will be considered by council members. It anticipates expenditures of about $119 million and estimates revenues of more than $125 million.
The city's fiscal year starts on Nov. 1.
• Council members will consider an ordinance that starts the second phase of a historic survey of Joplin's East Town neighborhood.
In conjunction with the Joplin Historic Preservation Commission, Keenoy Preservation will perform an "intensive historic survey" of the neighborhood, according to city documentation. The goal is to complete steps necessary for the city to recommend and nominate the neighborhood to be named as local and national historic districts.
The Joplin City Council will hold its next regular meeting at 6 p.m. Monday in council chambers in Joplin City Hall at Sixth and Main streets. For more information, call 417-624-0820.