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Hope Valley Redevelopment TIF district in process of moving forw - KOAM TV 7

Hope Valley Redevelopment TIF district in process of moving forward

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Tonight, the Hope Valley Redevelopment TIF district near 44th Street and Range Line Road is moving forward in its process of gaining city approval, which developers say could bring millions in tax revenue.
"This will be a gateway that will open up unlike anything Joplin has had before," said Doug Hunt, Doug Hunt Consulting.
The group says they have been in discussion with several different developers, who will only commit once the TIF district is formalized.
Potential development to the area near the new Mercy Hospital could include several restaurants, sports bars, gas stations, a hotel and convention center, a medical, professional building, a shopping center similar to the Branson Landing and even a possible 6,000 foot arena.
Hunt says it is a private sector development, meaning the city is not being asked to partner or contribute money.
"This is a group of investors and developers that have decided out of their own pocket to look at an opportunity, to take a risk, and try to put something together that does not require any government funding in any way, shape or form, from the state, local or federal," he said.
Hunt says unlike other TIF districts that require selling bonds, this is a"pay as you go" TIF, so the developer puts the infrastructure in, and then as that increased tax revenue comes in, that's what's used to reimburse the developer.
"Obviously, there's a few, small items to get ironed out with city staff, but they're in the process of ironing those out and I am hopeful and confident that those will get ironed out," said councilman Ryan Stanley.
24 acres of the district would become a wetlands conservation area.
"A highlight of this development is collaborating with Joplin Schools and area universities," Hunt said.  "Think about the possibility of us developing a curriculum in environmental engineering."
Once the stream portion of the development begins, all other development can break ground and occur at the same time.
The development would also include a collaboration with the city to widen 44th Street into 4 or 5 lanes of traffic, as well as widening Connecticut Avenue between 32nd Street and 44th Street to 4 lanes.
A public hearing on the proposed district will be scheduled as early as next week.
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