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On May 23, 2007 Columbia citizens met in a public forum to learn about financial tools that could lead to some innovative downtown development opportunities. State officials, economic development professionals from other cities and financing consultants discussed options such as Tax Increment Financing (TIF), the Missouri Downtown and Rural Economic Stimulus Act (MODESA), Community Improvement Districts (CID) and state and federal tax credit programs.
Speakers identified some common themes for future actions: clearly define development goals; include all stakeholders; be sure that everyone is going in the same direction; honestly assess risks and benefits; and do the research needed to attract enthusiastic investors.
This meeting was the latest of a series growing out of a partnership involving the City of Columbia, University of Missouri and Stephens College. Sasaki Associates has identified opportunities for local consideration. Elm Street could be an east-west axis of opportunity for mixed uses, including commercial and residential properties. Cultural and hotel facilities could fill in the core and finally make the Avenue of the Columns a stand-out landmark.
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