The city of Kirksville made the first draft last week of the Tax Increment Finance Commission, or “TIF,” in a step toward the improvement of the downtown area and local businesses.
The improvements will start by the end of this year with a focus on sidewalks and street repairs, according to Chair of the Commission Tony Fajkus.
The bulk of the project will happen next year in 2016 when the storefront renovations will start.
Fajkus said the city began discussing the plan last year.
“This would be an opportunity to improve the storefronts and just make a better theme, more consistent downtown,” Fajkus said.
According to Assistant City Manager Ashley Young, the project costs could range anywhere from $250,000 to $1 million.
He said the TIF Commission is projected to have $1 million at its disposal for potential projects including this one.
Young said they are mainly looking at two areas on the south side of the square: Washington St. between Franklin and Elson St. and Elson St. between Washington and McPherson St.
“The downtown is the heart of our city and any improvement I think we can make there is beneficial,” Young said.
Young said the project is still in its formative stages.
The TIF Commission is expected to meet with local businesses to receive their input before making a final draft to present to the City Council.
