Update on Hannibal’s Community Improvement District, meeting to sign petition set
HANNIBAL, Mo. — Maria Kuhns, entrepreneurship specialist and SBDC director with the Hannibal Regional Economic Development Council, gave an update on the proposed Hannibal Community Improvement District (CID) at the Hannibal City Council meeting Tuesday.
The plan for Hannibal’s CID would include a sales tax levy up to 1%, which will only apply within the boundaries of the CID district, to fund projects in the specific district, which will be a separate political subdivision.
The boundaries will include businesses and properties on Mark Twain Avenue, Third Street, Broadway, and Main Street.
Kuhns said the goal is to create a revenue source for improvement in a specific area of Hannibal where they have “historically seen property values decline.”
“So we are basically trying to turn that trend around by using this reinvestment through infrastructure improvements, facade improvements, or promotion of events, it will attract more investment and hopefully will revitalize it,” Kuhns said. “It is already being revitalized, but hopefully this will be an accelerator.”
A CID Board has been recruited to help make decisions on where funding will go.
The board members are:
- Historical Marketing Council President Katy Welch
- Chamber of Commerce Director McKenzie Disselhorst
- Property owner Joe Noonan
- Second Ward Council Member Mike Dobson
- Community Redevelopment Effort Representative Andy Dorian.
A petition signed by a 51% of the assessed valuation in the area and 51% per capita approval will also be necessary to take the next step, which is to present the petition before Hannibal City Council for approval.
Residents within the CID district will then vote whether or not to establish the 1% tax sales tax, which will only be reinvested within that district.
Residents and business owners will have the chance to review and sign the petition on May 15 at 6 p.m. at the Mark Twain Museum Gallery. Kuhns said the public is also welcome to attend.
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