Action that is expected to return millions of dollars to Joplin tax-supported institutions will be considered Monday by the Joplin City Council.
Council will be asked to approve an ordinance that would dissolve the expansive Joplin Recovery Tax Increment Financing District. It was established in 2012 after the Joplin tornado to generate money for recovery projects.
Termination of the 3,100-acre district — said to be the largest ever created in Missouri — will free up sales and property taxes that went into to the TIF to go to the city, the Joplin School District and others. Since its inception, the district diverted more than $20 million from those taxing entities to be used for the designated recovery purposes.
The school district will again begin to receive revenue from the TIF territory — about $1.5 million in annual property tax money, according to the district's estimate.
The city itself will again gain about $1.3 million a year for its general fund and its special sales taxes to support public safety, parks and stormwater, transportation and capital improvements projects, according to city finance department figures.
While the district could have continued to collect those funds for up to another 11 years, it collected money at a faster pace than projected when it was formed, enabling the city to dissolve it early.
That is because money borrowed for recovery projects secured by the revenue from the TIF district was paid off earlier this month.
The debt financed the purchase of land that could be resold for senior and low-income housing construction and for future projects such as a Braum's restaurant at 26th and Main streets and an Aldi supermarket at 26th Street and McClelland Avenue.
It also paid the city's $5 million share for construction of the Joplin Public Library at 1901 E. 20th St.
The city board that oversaw that recovery work, the Joplin Redevelopment Corp., still owns about $6 million worth of land available for resale.
The council also could discuss the status of the city's stay-at-home order and a strategy for rolling that back gradually, city officials said Friday.
In other action, the council will be asked to approve:
• A contract for $366,475 with Asbell Excavating & Trucking Inc. for the construction of a project in the area of 27th Street and Anderson Avenue to build streets, sidewalks, stormwater drains and other improvements for a residential area that has been built since the tornado.
• A purchase of fire department extrication equipment from Jon’s Mid-America Fire Apparatus at a cost of $112,554.
• A contract for $144,266 with Motorola Solutions Inc. for communications services and maintenance of equipment used for emergency services.
The council will meet again using teleconferencing and video conferencing because of social distancing restrictions related to the virus pandemic. The meeting also will be broadcast on KGCS-TV, Channel 21.
City buildings have been closed to the public, and no audience will be permitted inside the council chambers for the meeting, city officials said.