Joplin council set to reveal plans for spending tax money... - KOAM TV 7

Joplin city council set to reveal plans for spending tax money from TIF district


The Joplin City Council approves provisions with the Tax Increment Financing district.

The provisions set the way revenue is disbursed from the district.  Tax money in the district will be used to pay off bonds used for other redevelopment projects.

The council is meeting Wednesday evening to reveal and approve how that money will be disbursed.

Officials say the agreement would have already been approved but bond issuers wanted revisions to specify items in the agreement with the school district, city and Wallace Bajjali developers.

This TIF district is the largest in state history and officials say because of that, all precautions needed to be taken before any spending was approved.

"We wanted to make sure everybody was on the same page so there's no discrepancies, no problems that can pop up, and make sure everybody has a clear picture of what's going to happen," says Joplin Mayor Melody Colbert-Keen.

City officials say the groundbreakings on the upcoming projects take time and they hope to start construction soon.

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