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Joplin council votes to terminate 1717 Marketplace TIF, return funds to taxing jurisdictions
Summary
The council approved ordinances to terminate the 1717 Marketplace TIF and dissolve its special allocation fund after staff said the developer had been fully reimbursed; taxing jurisdictions will begin receiving approximately $1 million annually in additional revenue.
The Joplin City Council voted June 1 to terminate the 1717 Marketplace tax-increment financing (TIF) plan and dissolve the plan’s special allocation fund, moving excess funds back to taxing jurisdictions.
City staff told the council the redevelopment project — approved in January 2005 and covering roughly 38.8 acres near Range Line Road and East 15th Street — was nearly $51.4 million in total development cost and that $15.5 million had been reimbursed through incremental sales and property-tax revenues. As of June 2026, the developer has been fully reimbursed, staff said, and the TIF has paid off about two years ahead of its allowable 23-year timeframe.
“The various taxing jurisdictions will now receive the full economic benefit from this development as compared to the base taxes that were being generated before the development occurred, which is approximately $1,000,000 per year,” staff said. Any excess funds collected will be sent to Jasper County for distribution to the impacted jurisdictions, including the Joplin School District.
Miss Haas, presenting the two related council bills (20 26-512 and 20 26-513), recommended expedited approval so the city could close out the TIF and stop collections. Council approved both measures on an expedited basis with unanimous votes.
The termination includes dissolving the special allocation fund and removing the redevelopment-area designation. Staff noted that closing the related transportation development district will take additional steps, including an audit by the state auditor’s office and subsequent court action to fully conclude collections.
The move ends the city’s financial obligations under the redevelopment agreement and returns incremental revenue streams to local taxing bodies; councilmembers praised the early payoff and the projected additional annual revenue for jurisdictions.
