City to explore how to pay for downtown projects

The City of Columbia will sponsor a public meeting Wednesday to discuss ways to fund further development of downtown Columbia.

The meeting will take place from 7 to 9 p.m. in the City Council Chambers at the Daniel Boone City Building, 701 E. Broadway.

During the past few months, the city has sponsored meetings with the public to discuss development priorities. At one such meeting in January, development firm Sasaki Associates presented ideas for downtown development to the city, according to a news release. Some proposed developments included a convention center and high-rise hotel on the corner of Eighth and Cherry streets.

Ways to pay for the proposed development will be discussed at the meeting next week. Missouri Department of Economic Development representatives and representatives from the Gilmore & Bell law firm will answer questions about downtown development projects and financial tools including state and federal tax-credit programs, Tax Increment Financing and the Missouri Downtown and Rural Economic Stimulus Act, according to the news release.