In the aftermath of the deadly EF-5 tornado that struck the Joplin area, claiming 161 lives and causing up to $3 billion in damage, the City, FEMA, and local residents organized the Citizen Advisory Recovery Team (CART) to get public and stakeholder input on a path forward for the redevelopment of Joplin. CART presented its recommendations to the City in November 2011. Subsequently, the City established a Chapter 353 Redevelopment Corporation and issued a request for proposals for a master developer to direct the redevelopment effort. In early 2012, the City designated Wallace Bajjali Development Partners, L.P. as master developer. Wallace Bajjali and the City retained PGAV to draft a Tax Increment Financing (TIF) Redevelopment Plan and Cost Benefit Analysis (CBA) for the portion of Joplin devastated by the tornado and the City’s historic Downtown. PGAV conducted extensive fieldwork and analysis over several days in Joplin. This reconnaissance led to a determination that the subject area qualified for tax increment finance assistance. The TIF Redevelopment Area is the largest ever attempted in the State of Missouri, encompassing more than 6,000 parcels and covering nearly 4,000 acres. PGAV worked with the City and Wallace Bajjali to complete the TIF Redevelopment Plan and CBA and get approval by the City TIF Commission and City Council, all within a four-month timeframe.
Joplin’s redevelopment is currently ongoing and aims to complete approximately $807 million in new construction and rehabilitation. These redevelopment projects include infrastructure improvements, new schools, market rate single-family and multi-family housing, affordable housing, senior living, medical offices, a downtown education complex, library/theater complex, performing arts and visual arts center, hotel and convention center, and a multi-purpose event venue and sports complex. In addition to tax increment financing, other sources of financing for the rebuilding of Joplin include: New Markets Tax Credits, Low-Income Housing Tax Credits, Community Development Block Grants, Economic Development Administration grants, funds from various Missouri Housing Development Commission programs, and funds from various Missouri Development Finance Board programs.