JACKSON ESTABLISHES REDEVELOPMENT AREA

JACKSON -- The City of Jackson has formally designated land west of Interstate 55 as a redevelopment area, a step city officials say will speed commercial and industrial development of the 750-acre tract.

The Tax Increment Financing district was approved by the Jackson Board of Aldermen at a special meeting Monday night. Only Phase I of the plan extending from Klaus Park north along I-55 and along both sides of Highway 61, was activated.

The TIF district will capture 50 percent of the sales tax within its boundaries. The money will be used for infrastructure improvement and other projects within the district.

Developers will pay for the improvements up front and will recoup their costs through the TIF revenues that result from the development.

Mayor Paul Sander emphasized that the Jackson R-2 School District will not lose any taxes it otherwise would have received thanks to a pass-through arrangement.

Jackson Superintendent Dr. Howard Jones and Assistant Superintendent Dr. Terry Gibbbons are both members of the TIF Commission which formulated the 23-year redevelopment plan.

Most of the commission's work is now complete with the establishment of the TIF district. Members of the TIF Commission appointed by the city are Sander, City Administrator Steve Wilson, and Aldermen David Reiminger, Larry Cunningham, David Hitt and David Ludwig.

Cape Girardeau County members are Presiding Commissioner Gerald Jones and Commissioner Larry Bock.

The board's action establishes an Interstate 55 Corridor Special Allocation Fund and authorizes the mayor or city administrator to enter into contracts that would facilitate revenue allocations and collections.

Sander said TIF districts have failed in other locations when they were formed to help a single business get established. "This will help all the citizens of Jackson through public infrastructure improvements," he said.

One major retailer is already prepared to locate in the TIF district, Wilson said.

The second phase of the district is contingent on getting a new I-55 interchange at the extension of West Main Street, a project which has not yet been approved by the Missouri Department of Transportation. "We're looking toward MoDOT for some assistance," Wilson said.

In other business Monday, the board approved a contract with the University of Missouri Extension Council transferring property to be used for the new extension service building. The city holds an option on property along Jackson Trail known as the Lang Tract.

The board gave the council a choice between two lots and a choice between paying $7,500 per acre in infrastructure improvements or paying for the dirt work, which the city engineer has estimated could cost as much as $40,000.

Jackson Board of Aldermen Agenda

7:30 p.m. Monday, Dec. 28

City Hall

Action items

Power and Light Committee

-- Approved an ordinance designating a portion of the City of Jackson as a Redevelopment Area; approving a Redevelopment Plan; and approving Redevelopment Project Area Number 1 therein under the Real Property Tax Increment Allocation Redevelopment Act.

-- Approved an ordinance affirming approval of a Redevelopment Area and Redevelopment Project Area Number 1; adopting Tax Increment Allocation Financing; establishing the Interstate 55 Corridor Special Allocation Fund; and authorizing the mayor and city administrator to enter into contracts to facilitate revenue allocations and collections.

-- Approved an ordinance approving a contractual agreement with Cape Girardeau County Extension Council relative to transfer of property.