Wallace Bajjali Developers Update Joplin City Leaders
By: Jessica Schaer
Updated: January 14, 2013
JOPLIN --- The developers presented Council Members and city staff with an update of six current projects within the TIF District. They unveiled plans for the 30-million dollar Library-Movie Complex at 20th and Connecticut. Once that goes through, the current library will be replaced by a post-graduate satellite university. There are also plans to build 2-hundred single-family homes inside the TIF District. Developers are scheduled to update city leaders on progress once a month.
"It's important to keep them informed so they can know and be acquainted with what's going on when he brings the projects to them individually," says Mark Rohr, City Manager.
"There's 19 discreet projects. And each one of them has co-development partners, each one of them has plans, each one of them has an acquisition strategy, capital structure, and they're all very complex. And we want to make sure as we are continuing to focus on this, that we're getting direction from the city council," states David Wallace, Wallace Bajjali CEO.
Tonight's update represented more than 100-million dollars worth of projects in the TIF District so far. Developers hope to issue TIF bonds by late spring and we could see construction in 6 to 9 months.
