Columbia Board of Education to vote against Broadway Hotel TIF

11 months 4 days 8 hours ago Thursday, October 19 2017 Oct 19, 2017 Thursday, October 19, 2017 7:13:00 PM CDT October 19, 2017 in News
By: Amber Sipe, KOMU 8 Reporter
loading

COLUMBIA - The Columbia Board of Education met Thursday and unanimously decided to vote 'no' on The Broadway Columbia's tax increment financing, or TIF, request. 

The hotel's owner, David Parmley, applied for the TIF in April asking the city for an approximately $2 million tax break for the construction of a second hotel tower.

The board has two votes on the TIF Commission and both votes will be against the TIF, according to Columbia Board of Education President Darin Preis.

The TIF Commission has been meeting for the last few months, and Christine King and Helen Wade are the board's representatives.

The commission will vote on a recommendation for the Columbia City Council on Oct. 30. The city council will then decide if it wants to implement the TIF.

Preis said, if passed, the TIF would mean for 23 years the developer would not have to pay property tax, which is used to fund things like schools and libraries. The money would go right back into the development of the second tower.

"We just feel like we owe it to our taxpayers to not give those taxes back to private developers," he said.

If the TIF passes, Columbia Public Schools could lose out on as much as $4 million in potential tax revenue, with $2 million going straight to the development.

"We don't want our constituents to have to pay the cost of developing this project," Preis said. "We want to make sure the money available to us is being used for public education and to increase opportunities for all students in our district."

Preis said the hotel is a "fantastic" project. He said he hopes the second tower is built, but he did not feel like the public investment is justified.  

"We are laser focused on student achievement and making sure we are fiscally responsible for taxpayer dollars," Preis said.

A TIF was used to construct the first tower for The Broadway Columbia. 

More News

Grid
List
(CNN) -- Lawyers for Christine Blasey Ford said in a statement on Sunday that she has committed to testifying in... More >>
4 hours ago Sunday, September 23 2018 Sep 23, 2018 Sunday, September 23, 2018 6:31:00 PM CDT September 23, 2018 in News
WASHINGTON (AP) — Farmers across the United States will soon begin receiving government checks as part of a billion-dollar bailout... More >>
4 hours ago Sunday, September 23 2018 Sep 23, 2018 Sunday, September 23, 2018 6:27:00 PM CDT September 23, 2018 in News
ATLANTA (AP) — The Latest on the Tour Championship (all times local): 5:58 p.m. Tiger Woods is a... More >>
5 hours ago Sunday, September 23 2018 Sep 23, 2018 Sunday, September 23, 2018 5:12:00 PM CDT September 23, 2018 in News
COLUMBIA - According to Missouri state law, all children over the age of eight do not have to ride in... More >>
5 hours ago Sunday, September 23 2018 Sep 23, 2018 Sunday, September 23, 2018 4:51:00 PM CDT September 23, 2018 in News
COLUMBIA - Columbia police are searching for a person who ran away from a traffic stop in south Columbia around... More >>
6 hours ago Sunday, September 23 2018 Sep 23, 2018 Sunday, September 23, 2018 4:22:00 PM CDT September 23, 2018 in News
COLUMBIA - Over 100 activists walked around Stephens Lake Park on Sunday to raise money and awareness to end hunger... More >>
10 hours ago Sunday, September 23 2018 Sep 23, 2018 Sunday, September 23, 2018 11:58:00 AM CDT September 23, 2018 in News
COLUMBIA - One person died and another was hurt in a one-vehicle crash Sunday morning. Police said Perri A.... More >>
12 hours ago Sunday, September 23 2018 Sep 23, 2018 Sunday, September 23, 2018 9:57:00 AM CDT September 23, 2018 in News
COLUMBIA - Missouri basketball forward Mitchell Smith was arrested early Sunday morning by the Boone County Sheriff's Department and charged... More >>
13 hours ago Sunday, September 23 2018 Sep 23, 2018 Sunday, September 23, 2018 8:45:00 AM CDT September 23, 2018 in Sports
CLAYTON (AP) — A St. Louis man has been sentenced to 30 years in prison for a 2012 police chase... More >>
14 hours ago Sunday, September 23 2018 Sep 23, 2018 Sunday, September 23, 2018 8:27:14 AM CDT September 23, 2018 in News
COLUMBIA – About one in 10 children are subject to sexual abuse, according to a local expert on the subject.... More >>
23 hours ago Saturday, September 22 2018 Sep 22, 2018 Saturday, September 22, 2018 11:18:00 PM CDT September 22, 2018 in News
COLUMBIA - A water main break in MU's Hearnes Center early Saturday morning caused at least $100,000 worth of damage,... More >>
1 day ago Saturday, September 22 2018 Sep 22, 2018 Saturday, September 22, 2018 7:17:00 PM CDT September 22, 2018 in News
FULTON - The Fulton Police Department responded to shots fired at a McDonald's located at 303 S. Business 54 early... More >>
1 day ago Saturday, September 22 2018 Sep 22, 2018 Saturday, September 22, 2018 5:49:00 PM CDT September 22, 2018 in News
(CNN) -- Christine Blasey Ford, the woman who has accused Supreme Court nominee Brett Kavanaugh of a past sexual assault,... More >>
1 day ago Saturday, September 22 2018 Sep 22, 2018 Saturday, September 22, 2018 5:16:00 PM CDT September 22, 2018 in News
AUXVASSE - The Callaway County Sheriff's Office arrested five people Friday morning during a narcotics search at a residence in... More >>
1 day ago Saturday, September 22 2018 Sep 22, 2018 Saturday, September 22, 2018 4:16:00 PM CDT September 22, 2018 in News
FESTUS (AP) — A man and his adult son were killed when their small plane crashed near... More >>
1 day ago Saturday, September 22 2018 Sep 22, 2018 Saturday, September 22, 2018 8:20:00 AM CDT September 22, 2018 in News
COLUMBIA - MU partnered with two local groups to host a Chinese Moon Festival Saturday night at Twin Lake Recreational... More >>
1 day ago Saturday, September 22 2018 Sep 22, 2018 Saturday, September 22, 2018 8:02:00 AM CDT September 22, 2018 in News
SPRINGFIELD — President Trump held a campaign-style rally in Springfield Friday. Trump spoke in front of an at-capacity crowd... More >>
2 days ago Friday, September 21 2018 Sep 21, 2018 Friday, September 21, 2018 10:15:00 PM CDT September 21, 2018 in News
KANSAS CITY (AP) — A 46-year-old woman who set a fire that resulted in the deaths of two Kansas City... More >>
2 days ago Friday, September 21 2018 Sep 21, 2018 Friday, September 21, 2018 6:22:00 PM CDT September 21, 2018 in News
Columbia, MO
Broken Clouds 70°
11pm 66°
12am 64°
1am 63°
2am 62°