July 7, 2022
Hannibal, MO. – Corey Mehaffy, Executive Director of the Hannibal Regional Economic Development Council (HREDC) announced today the City of Hannibal and HREDC have scheduled a public meeting on July 26th at 6:30 pm at the Mark Twain Museum (120 N Main) to discuss downtown revitalization. HREDC and City officials will be on hand to present information on the proposed downtown revitalization programs and to facilitate questions and answers. In addition to sharing this information, HREDC and the City would like to gather input from owners of property and businesses related to the overall program as well as proposed Community Improvement District (CID) boundaries.
The City of Hannibal is considering the establishment of three interlocking incentive programs designed to encourage revitalization of private and public properties within a defined area of the City’s central business district. This broad front approach consists of real property tax abatement under Missouri’s Urban Redevelopment Corporations Law, creation of a CID for the area pursuant to the Community Improvement District Act, and availability of low-cost infrastructure financing under Neighborhood Improvement District legislation.
Maintaining the vitality of historic neighborhoods and downtown districts poses unique challenges requiring special revitalization solutions. Mehaffy noted that this combination of incentives is being used successfully in communities around Missouri. If implemented, the program will achieve concentrated and coordinated promotion of downtown activities, physical private and public property improvements and infrastructure/streetscape enhancements.
Mehaffy added that HREDC staff worked with City Manager Lisa Peck to revise the proposed boundaries based on feedback from the public at the February 22, 2022 meeting. During its June 21 Hannibal City Council meeting, the Council reviewed the revised CID boundaries and requested that staff set another meeting to gain additional feedback from the public.
The Hannibal meeting will be held July 26th at 6:30 pm at the Mark Twain Museum (120 N Main) and is open to the public. HREDC and the Hannibal City Council are seeking input from the public on this proposed revitalization program.
HREDC works to promote financial investment in Hannibal, and in Marion and Ralls Counties. For more information on the organization, please visit their website at www.hredc.com.