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Hope Valley Redevelopment TIF awaits city approval - KOAM TV 7

Hope Valley Redevelopment TIF awaits city approval

Updated:
UPDATED 7/7/14: At Monday night's city council meeting, the city voted 9-0 to move forward with plans for the Hope Valley TIF District.
 
The Council has tabled the issue until a financial study can be completed.
 

 
POSTED 6/13/14: The Hope Valley Redevelopment Tax Increment Financing plan has come a long way in the past couple years and now only city approval is needed.
The district includes 134 acres of undeveloped land located at the southwest corner of 44th Street and Range Line Road, and was endorsed by Joplin's TIF Commission last month.
Many residents are excited about the idea of further economic development in the area.
"I think it would really stimulate the economy," said Dee Vernon, employee at the AT&T location within the proposed district.  "I think it would benefit the welfare of the population."
However, others have some concerns.
"We built our house here about 9 years ago because it was really quiet, so if they do start building a lot across the street, we'll lose that quietness," said Harold Simmons, area resident.
One purpose behind the proposed TIF district is for wetlands construction in areas with high flooding from storm water drainage.  
24 acres of the undeveloped land would become a wetlands conservation area.
Currently only 7 of the 134 acres are developed, but with the flooding problems fixed, more could be done.
Councilman Gary Shaw says currently only real estate tax is being paid on all the empty properties, with no income coming in.
"So you can just leave it there that way and just have the real estate tax, or you can get someone to come in as a developer that's willing to put out the money and build something that will benefit the city and the community," he said.
Shaw says economic development is always a benefit to the city.
"Anytime you bring in something of this nature, of this magnitude, it's bound to attract attention and make Joplin a destination," he said.
Supporters of the TIF district say the designation would make it much easier for commercial developers to make a profit.
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