JACKSON BACKS TIF DISTRICT

JACKSON -- Aldermen voiced their support for a proposed Tax Increment Financing district that will include a portion of the city limits Monday night.

The boundaries of the proposed district have not yet been drawn up, but plans now call for the I-55/Highway 61 interchange to be included, said city administrator Steve Wilson.

The city may want to explore extending the district's boundaries northward to the planned new interchange with the East Main extension, Wilson said.

The Cape Girardeau County Commission, in cooperation with the Cape Girardeau Area Industrial Recruitment Association and the Southeast Missouri Regional Planning Commission, is overseeing the development of the district.

Commissioners Monday set a public hearing for Thursday at 9 a.m. to get comments and questions about the proposed district.

If established, sales and possibly property tax revenues generated within the district's boundaries will be collected to help fund infrastructure improvements -- including streets, sewage and water lines -- in the district.

Under the current plan, 1995 will be established as the base year. School districts and other taxing entities will collect the same amount of tax revenue they did in 1995.

Half of any additional tax revenue generated after the base year will go to the TIF district and the other half to taxing entities.

Organizers had originally proposed collecting only sales tax revenues, but it now appears property tax revenues may also have to be collected to back up any bonds that may be issued.

The plan is for the property taxes to be collected by the TIF district to "pass through" the district and be disbursed in full to the taxing entities.

The proposed district's boundaries border Interstate 55 from Nash Road to Jackson.

Presiding Commissioner Gerald Jones said the taxing entities within the area -- including the cities of Cape Girardeau and Jackson and the Cape Girardeau and Jackson school districts -- will be represented on the TIF commission, which will draw up the district's boundaries and establish a list of improvement projects to be funded by the taxes collected.

Wilson said the TIF district will help attract development to the interchange and will not negatively impact the Jackson School District.

JACKSON BOARD OF ALDERMEN

Monday, Sept. 16 7:30 p.m.

Public Hearings

-- Held hearing to consider the proposed voluntary annexation of property owned by Chris Bowen and Charles and Julia Roberts.

Action Items

Power and Light Committee

-- Approved ordinance authorizing contractual agreement reference extension of water main on Ridge Road.

-- Authorized interest payment of $19,775 on city's 1988 combined waterworks and sewerage bonds.

-- Approved mayor's appointment of Rodney Bollinger as staff representative to the Planning Commission.

-- Approved motion supporting the proposed formation of the Cape Girardeau County I-55 Tax Increment Financing District.

Street Committee

-- Approved rezoning Lots 1 through 30 and Lots 39 through 96 in Rosewood Estates Third Subdivision from R-1 to R-2, as submitted by Gerald Stoverink.

-- Approved the rezoning Lots 31 through 37 in Rosewood Estates Third Subdivision from C-2 to R-2 as submitted by Gerald Stoverink.

-- Amended the speed limits schedule for Oak Hill Road.

-- Amended the stop street schedule to include new stop street designations on Fairway Lane.

-- Authorized closure of Donna Lynn Drive on Sept. 28 from 4 to 10 p.m. for a neighborhood block party.

-- Accepted low bid from Fronabarger Concreters, Inc., in the amount of $97,455.46 on the Gloria Street paving project.

-- Approved contractual agreement with Fronabarger Concreters, Inc., on the Gloria Street paving projects.