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Independence holds statutorily required public hearing on three TIF districts; Santa Fe bonded debt remains
Summary
City staff held the required five‑year TIF review hearing for three districts (Old Landfill/Stone Canyon, Trinity and Santa Fe). Santa Fe, a bonded TIF terminated in June, carries an outstanding bonded obligation staff estimated at roughly $6.3–$6.8 million; staff said revenues rolled back to tax rolls will be used to help pay that debt.
The Audit & Finance Committee convened a public hearing required under state law to review three tax‑increment financing (TIF) districts: the Old Landfill (Stone Canyon), Trinity and Santa Fe.
Tom Skenel, the city's community and economic development director, told the committee the hearing is informational under Missouri law (referencing section 99.865) and that no council action was required at the meeting. "This is spelled out in state statutes in section 99.865," Skenel said as he opened the presentation.
The Old Landfill/Stone Canyon TIF, north of I‑70 near Mize Road, encompasses about 365 acres. The redevelopment plan approved in 2005 envisioned reclaiming the closed, capped landfill and constructing roughly 225 single‑family executive‑style homes and an 18‑hole golf course. The TIF was set for a 23‑year term; it…
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