Joplin city officials approve a nearly $190 million TIF plan

Joplin city officials are turning the page on 2020 and looking to the years ahead. At a special meeting of the Joplin City Council Monday night, the body unanimously approved a $188-million dollar development to create a new TIF district in the city’s southeast corner. The project is called the 32 Street Place TIF, or tax increment financing, will look to bring a new home improvement warehouse to the city, new apartment complexes, and a movie theater to the land east of Rangeline Road and south of east 32nd street. Director of Finance for the city of Joplin Leslie Haas explaining what a TIF is, “you take an area that has little to no development where they may be no sales tax, or just a little of sales tax, and a very small amount of property tax. And you bring in a development, and through that development, it increases sales tax, it increases property tax. The development then pays for the improvements that are within the area.” Of the proposed $188 million dollar cost for the project, about $140 million would be privately financed, and almost $30 million of it would be covered by the TIF. The 1-percent the 32 Street Place TIF will go into effect this Friday, public improvements happening over the next 12-months.

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