TIF DISTRICT PANEL HOLDS FIRST MEETING; COMMISSION TO FORMULATE PROPOSAL FOR I-55 CORRIDOR

JACKSON -- The TIF Commission held its first meeting Thursday, electing a chairman and discussing the newly proposed district, which would provide potable water, sewers and other infrastructure amenities to sections of Cape Girardeau County along Interstate 55.

Gerald Jones, Cape Girardeau County presiding commissioner, was elected by the nine-member commission to moderate the meetings.

He said the TIF Commission, which represents the county, cities, schools and other tax entities, will only be responsible for making recommendations. The County Commission will have final approval on establishing a district and any actions within the district after it receives recommendations from the TIF Commission.

Funding for the improvements was also discussed. Cape Girardeau County and city would pay the expenses through sales taxes that are generated within the district, Jones said.

All sales taxes generated by new businesses within the district would go to paying for infrastructure improvements in the district. For existing businesses, half of any increases in tax revenues generated over a 1995 baseline would go to the TIF district, while the remaining half would be disbursed as usual to taxing entities.

"Say they increase their sales taxes collected by $50,000: Half of that figure would go to TIF," Jones said. He said the other half would go where to the city or county, where it normally would have gone.

Jones said the commission was well-rounded because all tax entities are represented.

Jones and Associate Commissioners Larry Bock and Joe Gambill named themselves to the TIF Commission. They also picked the mayors of Cape Girardeau and Jackson, Al Spradling III and Paul Sander, respectively.

Dr. Dan Tallent and Dr. Howard Jones, superintendents of the Cape Girardeau and Jackson school districts, are also on the commission. John Richbourg, the finance director of Cape Girardeau, was appointed by the County Commission, and Dale Rauh will represent all other taxing entities including the health department and the Cape Girardeau Special Road District.

The commission reviewed the boundaries of the proposed TIF district which comprises Nash Road, an industrial area south of Cape Girardeau's city limits, the Cape West Business Park and the Interstate 55- Highway 61 interchange between Jackson and Cape Girardeau.

Sander is looking into adding Jackson's East Main extension into the plan, Jones said.

The final boundaries of the district and the infrastructure projects to be completed will be established at future meetings.

Mark Grimm of the Gilmore and Bell law firm was unanimously elected by the commission to provide legal services.

A redevelopment schedule was reviewed by the commission, with a December 1998 TIF project completion date.

"We'll identify the areas as to what we do and what projects need to be done in what order and what will be done," Jones said.

Public hearings will be held to gather input.

"It's a rather logical and innovative approach," Jones said. "It's innovative in that we're proposing to pay it off with sales tax instead of property tax. That way the schools aren't hurt."

The next TIF commission meeting will be Oct. 15. Public hearing dates will be set at that meeting.

TIF COMMISSION

Gerald W. Jones, chairman of TIF Commission

presiding commissioner of Cape Girardeau County Commission

Dr. Dan Tallent

Superintendent, Cape Girardeau Public Schools

Dr. Howard Jones

Superintendent, Jackson R-2 School District

Larry Bock

1st District Commissioner

Joe F. Gambill

2nd District Commissioner

Paul W. Sander

Mayor, City of Jackson

Al Spradling III

Mayor, City of Cape Girardeau

John Richbourg

Finance Director, City of Cape Girardeau

Dale Rauh

Chairman, Senior Citizens Board