Presented by Rick Landers of BMU, this legislation was passed by the State of Missouri to provide an incentive rate to help entice businesses to locate or expand in Missouri. The secondary note in the amount of $325,000 for reimbursement to MoDOT for installing the signalization at the intersection of North Main & Lake Street should be paid off in 2022.Ĭonducted the first reading of Bill #6176, Economic Development Incentive Rate. The primary note of $1,325,000 for site development & public infrastructure has been paid off. This project is in reference to the area located at the northwest corner of the intersection of Main & Malone. This must be done every 5 years to determine if the redevelopment project is making satisfactory progress. During last night’s Council meeting, the following actions were taken:Ī public hearing was conducted to give an update on the Main & Malone TIF District, as required by State Statutes.
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