Senators Try to Retool TIF

1 decade 2 years 8 months ago Wednesday, February 08 2006 Feb 8, 2006 Wednesday, February 08, 2006 9:34:00 PM CST February 08, 2006 in News

It's makeover time for a redevelopment program, as lawmakers try to re-do an old bill so developers don't abuse it.

For example, Fulton uses the Tax Increment Financing program, or TIF, to pay for fixing up and developing land.

Republican Sen. John Griesheimer said, "There are a lot of communities that have retail projects that really wouldn't happen if it had not been for TIF."

The program lets communities pay for redevelopment projects first, then owners repay the money as tax revenue rolls in from the projects.

Redevelopment in the city of Fulton is why the Senate Economic Development Committee passed the TIF reform bill, including a controversial "greenfield" provision to protect undeveloped land.

"To blight a beautiful piece of undeveloped property, they're going to say that's blighted and then they are going to put a 1,200 lot subdivision on it which affects the schools," complained Greisheimer. "I'm sorry, that's wrong."

But, there's plenty of disagreement about the "blighted" requirement.

"We don't want to have to fake it and say it's blighted, distressed or anything else," responded Republican Sen. Kevin Engler of Farmingon. "We just want to say we want to give these economic benefits to them. We have other people who want to make the restrictions much tougher."

A city or county must designate redeveloped land as blighted, a conservation area, or an economic development area in order to meet TIF requirements.

More News

Grid
List
JEFFERSON CITY - The Missouri State Medical Association (MSMA), along with multiple medical associations, reaffirmed their opposition to the three... More >>
50 minutes ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 2:50:00 PM CDT October 19, 2018 in News
JEFFERSON CITY - For the fourth consecutive year, Project Homeless Connect provided services Friday for people who are experiencing homelessness... More >>
1 hour ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 2:39:00 PM CDT October 19, 2018 in News
DES MOINES, Iowa (AP) — The Mega Millions jackpot has soared to an estimated $1 billion, as the second-largest lottery... More >>
3 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 12:10:00 PM CDT October 19, 2018 in News
JEFFERSON CITY - Police want the public's help finding a man who allegedly ran from a traffic stop after hurting... More >>
3 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 11:42:00 AM CDT October 19, 2018 in News
WASHINGTON (AP) — Just 1 in 4 people thinks Brett Kavanaugh was completely honest when as a Supreme Court nominee... More >>
5 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 9:58:13 AM CDT October 19, 2018 in News
(CNN) -- The US moved closer to acknowledging the role of Saudi Arabia in journalist Jamal Khashoggi's apparent death as... More >>
6 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 9:36:16 AM CDT October 19, 2018 in News
RANDOLPH COUNTY - MoDOT announced they will close Randolph County Route CC from Route FF to Route K on Monday,... More >>
7 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 8:30:00 AM CDT October 19, 2018 in News
FLORISSANT (AP) — Authorities have arrested a suburban St. Louis student after finding a loaded gun and a razor inside... More >>
7 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 7:46:15 AM CDT October 19, 2018 in News
ST. CHARLES, Mo. (AP) — A Missouri man has been sentenced to life in prison in the 1984 beating death... More >>
8 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 7:10:00 AM CDT October 19, 2018 in News
KANSAS CITY, Mo. (AP) — A Kansas City doctor has been sentenced to a year in federal prison for his... More >>
8 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 6:51:00 AM CDT October 19, 2018 in News
ST. LOUIS - Democratic Sen. Claire McCaskill and Republican opponent Josh Hawley were sometimes heated and often derisive as they... More >>
18 hours ago Thursday, October 18 2018 Oct 18, 2018 Thursday, October 18, 2018 9:02:00 PM CDT October 18, 2018 in News
COLUMBIA - Issues like Proposition D, Vision Zero and more were discussed at Thursday night's Transportation Committee Meeting in Columbia.... More >>
20 hours ago Thursday, October 18 2018 Oct 18, 2018 Thursday, October 18, 2018 7:31:00 PM CDT October 18, 2018 in News
MEXICO - October is domestic violence awareness month and businesses across Mexico are showing their support for survivors by decorating... More >>
21 hours ago Thursday, October 18 2018 Oct 18, 2018 Thursday, October 18, 2018 6:02:00 PM CDT October 18, 2018 in News
ST. LOUIS - Democratic Sen. Claire McCaskill and her Republican opponent, Josh Hawley, are hoping for a debate win tonight... More >>
21 hours ago Thursday, October 18 2018 Oct 18, 2018 Thursday, October 18, 2018 5:43:00 PM CDT October 18, 2018 in News
KANSAS CITY, Kan. — The Latest on the trial of two maintenance workers charged with misleading investigators after a 10-year-old... More >>
22 hours ago Thursday, October 18 2018 Oct 18, 2018 Thursday, October 18, 2018 5:09:00 PM CDT October 18, 2018 in News
COLUMBIA - Hundreds of people gathered for the grand opening of CenterPointe Hospital on International Drive Thursday. Governor Mike... More >>
23 hours ago Thursday, October 18 2018 Oct 18, 2018 Thursday, October 18, 2018 3:42:00 PM CDT October 18, 2018 in News
JEFFERSON CITY - The influence of lower prices and convenience are affecting the way millennials approach primary care, according to... More >>
1 day ago Thursday, October 18 2018 Oct 18, 2018 Thursday, October 18, 2018 3:38:00 PM CDT October 18, 2018 in News
COLUMBIA - MU honored Dr. George Smith, the first Nobel Prize winner in university history, with a reserved space to... More >>
1 day ago Thursday, October 18 2018 Oct 18, 2018 Thursday, October 18, 2018 3:30:00 PM CDT October 18, 2018 in News
Columbia, MO
Broken Clouds 57°
4pm 59°
5pm 59°
6pm 59°
7pm 57°