Local Finance Initiatives
Local Finance Initiatives are success-proven incentive programs that financially assist development activities in Missouri communities. They represent a diverse inventory of economic opportunities, each specifically designed to benefit a select customer base including local governments, not-for-profit organizations, for-profit developers, community development corporations, volunteer organizations and more.
Community Improvement Districts provide funding for certain public improvements or services in the designated benefit area. Funding may be through a special tax on sales, special assessment on certain real property or by fees, rents or charges generated in the District.
Local Option Economic Development Sales Tax allows citizens to authorize a supplemental sales tax dedicated exclusively for certain economic development initiatives in their home municipality.
Neighborhood Improvement Districts finance certain public facilities, improvements or redevelopment in the designated benefit area. Funding is accomplished by issue of general obligation bonds of the governing municipality.
Property Tax Abatement is offered to private companies for certain urban redevelopment or industrial development projects by cities and counties.
Tax Increment Financing provides local tax financial assistance for the redevelopment of designated economically depressed areas. TIF allows the use of a portion of certain new local tax revenues generated for a limited number of years in the redevelopment area to help pay for the redevelopment.
Transportation Development Districts are created for the purpose of developing, improving, maintaining or operating one or more projects relative to the transportation needs of the benefit area, related to streets and highways, railroads or urban light rail, aviation, bus or other mass transit, river port, ferry or any other conveyance and related infrastructures within the broad definition of transportation.
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