The Jefferson City Council Monday night voted and approved TIF and Community Improvement District agreements with Capital Mall.
The Capital Mall redevelopment plan in January, staff and others have been working on an agreement with Capital Mall. With the Council’s action, there will now be an ordinance to activate the TIF to make it happen.
It will go back to the TIF Commission to activate it to happen.
City officials said both agreements have no cost to the city.
Capital Mall owners plan 5 phases of renovation, including Phase 1, which is scheduled to begin this month.
Phase 1 includes replacing signage, rehabilitating the entrances and common areas, repairing the parking lot, and repairing the roof.
$35 million is slated for Capital Mall projects, which include $20 million in construction costs and about $11 million for land acquisition.
Once established, there will be a 1% sales tax increase on everything at Capital Mall.