Community and officials respond to Joplin’s proposed ~$375-Million project
JOPLIN, Mo. — We’re learning more about the deeper impact a proposed nearly 375-million dollar project could have on the City of Joplin.
“Our thoughts are, we’re excited. We’re excited to be part of it, we signed off on it,” said Chockie Billy, Joplin Golden Corral.
Chockie Billy, with Joplin’s Golden Corral, says all the businesses adjacent to the proposed “Prospect Village” site near 20th and Range Line were given a certified letter about the proposal and asked to become part of the CID.
He knows traffic may be a headache if the plans go through, but he knows an increase in road traffic, means an increase in foot traffic, right into his long-standing restaurant.
“It’s a win-win situation basically for the city, for the community. Bringing in more revenue for all the businesses, and, you know, not to mention the tax dollars that’s going to be involved with that,” said Billy.
Community and officials respond to Joplin’s proposed ~$375-Million project
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The proposed site has a proposed “Tax Increment Financing” — or TIF — district.
City Manager Nick Edwards says it is not a new tax or an increase and it is not an abatement.
“TIF uses future revenue as captured, that’s described by the increment. And that is used to develop the cost of the property,” said Nick Edwards, Joplin City Manager.
Additionally, the site proposes two separate Community Improvement Districts, also known as “CIDs”.
“Those actually have the ability to levy taxes. And, two CIDs are proposed to levy additional taxes,” said Edwards.
He says CIDs are authorized by state statute to levy additional taxes up to 1 percent, only within that certain defined area and not across the entire city.
“The purpose of that tax is to pay for public improvements within the district to make the property developable and usable,” said Edwards.
The current sales tax rate varies – 8.725 Jasper, city’s portion is 3.125… if development gains approval since two CIDs are proposed, the sales tax would increase in the CID to a total of 10.725 percent.
School districts don’t directly benefit from TIF districts, Edwards says city staff have spoken to school district representatives.
“There’s good communication between the city and the school district. They’re a great partner, and we want to make sure there’s a good understanding of this development project,” said Edwards.
A number of public improvements and infrastructure upgrades would be necessary to make this project work.
“There would be improvements to Geneva. Previously, the city approved the Capital Improvement Sales Tax, which allowed funding to help improve Davis between 20th and 32nd,” said Edwards.
The site – previous home to “International Paper” also faces challenges, including that it’s in a floodplain and has been an EPA Superfund site since 1990.
There are still many pieces of the puzzle that need to fall into place before the process is complete.
The estimated approval is expected to be done early next year.
“The developer that’s proposed this project has a good track record of following through and doing high-quality development. And, we’re carefully reviewing those plans and we’re hopeful this project will be another success story,” said Edwards.
“We’re just excited about any kind of development. You know, bringing people to our town. You know, to Joplin. As I said, we’re not a small town anymore. I consider ourselves as a growing community,” said Billy.
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