Joplin Tax Increment Financing District Project Meeting
By: Jessica Schaer
Updated: February 12, 2013
JOPLIN, MO.--- Plans within Joplin's Tax Increment Financing District are another step closer to becoming a reality.
"We got some new projects tonight. The senior housing was announced tonight that had not been announced to us prior to that," says David Wallace, Wallace Bajjali C.E.O.
That will happen at the southwest corner of 26th and McClelland, but more specific details are still under wraps.
"Over the next couple of weeks, we'll probably be able to speak with a little bit more specificity on that," says Wallace.
Also in the works, the state senate and house are expected to vote on a proposed "super-tif" bill within the next 2 weeks. That would allow Joplin to receive state tax revenue connected to the Tax Increment Financing District.
"That brings roughly $16 million to the city as we're moving forward on these projects," says Wallace.
The most advanced project at tonight's update is the $38 million building planned at 20th and Connecticut.
"One anchor being the library-theater component, another anchor being the grocery store, and then having about 100,000 square feet of retail with up to 50 loft residential units above the retail," says Wallace.
With a library on the first floor and movie theater on the second floor, many have worried about sound being an issue. Developers say they've got plans to deal with that.
"I think we've got about 3-quarters of a million dollars already built into the budget specifically for that particular issue," says Wallace.
The Joplin Redevelopment Corporation is set to become an official co-applicant with the City of Joplin for the $20 million federal grant. That grant is for the library movie theater complex and the official vote for that partnership will be 7 p.m. tomorrow at the Joplin City Hall.
"We got some new projects tonight. The senior housing was announced tonight that had not been announced to us prior to that," says David Wallace, Wallace Bajjali C.E.O.
That will happen at the southwest corner of 26th and McClelland, but more specific details are still under wraps.
"Over the next couple of weeks, we'll probably be able to speak with a little bit more specificity on that," says Wallace.
Also in the works, the state senate and house are expected to vote on a proposed "super-tif" bill within the next 2 weeks. That would allow Joplin to receive state tax revenue connected to the Tax Increment Financing District.
"That brings roughly $16 million to the city as we're moving forward on these projects," says Wallace.
The most advanced project at tonight's update is the $38 million building planned at 20th and Connecticut.
"One anchor being the library-theater component, another anchor being the grocery store, and then having about 100,000 square feet of retail with up to 50 loft residential units above the retail," says Wallace.
With a library on the first floor and movie theater on the second floor, many have worried about sound being an issue. Developers say they've got plans to deal with that.
"I think we've got about 3-quarters of a million dollars already built into the budget specifically for that particular issue," says Wallace.
The Joplin Redevelopment Corporation is set to become an official co-applicant with the City of Joplin for the $20 million federal grant. That grant is for the library movie theater complex and the official vote for that partnership will be 7 p.m. tomorrow at the Joplin City Hall.
