JOPLIN, Mo. — Joplin city leaders will look at the impact of paying off millions of dollars in bonds years ahead of schedule.
The City Council will discuss the end of the tax increment financing – or TIF – district Monday.
Revenue far outpaced what was expected – pushing the payoff up by nine years.
Wrapping up the bonds also means more tax revenue will be available to pay for city services.
Leslie Haase, Joplin Finance Director, said, “Obviously right now sales tax is being impacted – and so, good to pay off the debt good to not have debt for the city.”
The $18 million TIF project started after the 2011 tornado and focused on buying land and paying for part of the new library.