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Jefferson City holds hearing on Christie Drive TIF and CID package that would fund 42-acre redevelopment
Summary
City staff, the city's financial advisor and the developer described a 42-acre Christie Drive redevelopment that includes a donated 21-acre athletic complex and about $9.1 million in public incentives; the city's consultant said the project likely would not proceed without incentives and council set final consideration for Jan. 6.
The Jefferson City Council heard more than an hour of presentations and questions on a proposed Christie Drive redevelopment that would use tax increment financing and a community improvement district to subsidize preparation of roughly 42 acres of a former quarry for retail, lodging and office development.
City special counsel Joe Lauber outlined the legal framework for the TIF plan and the four related ordinances the council will consider: approval of the TIF plan, authorization of the TIF contract, approval of a Community Improvement District petition and a cooperative agreement tying the city, CID and developer together. Lauber told the council the TIF Commission recommended the plan and that staff believes the statutory findings can be made.
The city's independent financial consultant, Colby Krasinowski of…
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