COLUMBIA — Backers of two downtown development projects have requested a total of $5.1 million in tax breaks, and their requests will be reviewed by the Tax Increment Financing Commission on Thursday afternoon.
The developers — proposing renovation of The Tiger Hotel and the construction of an eight-story multi-use building at Tenth and Locust streets — both applied for tax-increment financing, an incentive the city is offering to encourage redevelopment downtown.
What: TIF Commission meeting
When: 3 p.m. ThursdayWhere: Daniel Boone City Building's mezzanine, Conference Room, 701 E. Broadway
At Thursday's meeting, the commission will go over an initial review of the applications and hear comments from the city's Finance Department, its downtown consultant and its legal advisers.
"In our initial review of the applications, we've got some questions for our TIF applicants," Assistant City Manager Tony St. Romaine said. "It's very likely we'll be requesting additional information before the public hearing."
The TIF Commission will set the public hearing dates for both applicants, which can be scheduled for as soon as mid-May, 45 days after the commission received the applications.
All TIF Commission meetings are open to the public and include a segment dedicated to listening to public comments.
The TIF Commission includes six mayoral appointees and representatives of Boone County, Columbia Public Schools and the Special Business District.