Tax incentives key to new entertainment district | Mid-Missouri News [Video]

JEFFERSON CITY — If you travel down Christy Drive in Jefferson City, you’ll see the Special Olympics Missouri building, and then it’s neighbor, an old quarry. Some people in Jefferson City want to trade what’s now a conglomerate of rock mounds into a hotel, restaurants, office space, and soccer fields.

Jefferson City Council Members discussed the proposed development during their meeting Monday night, and the project now hinges on whether members approve tax incentives for the developers.

Developers of the proposed entertainment district are seeking approval of A Tax Increment Financing (TIF) plan. The plan is designed to encourage new development in underserved and underutilized areas in municipalities throughout the state.

In the case of the proposed Christy Drive development in Jefferson City, this plan would provide a tax incentive for the developers. Developers would cover the cost of actually building the structures on the property. In return, local taxes …