City Council votes for TIF funding for Esquire Theater - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

City Council votes for TIF funding for Esquire Theater

(Source: Hank Cavagnaro/KFVS) (Source: Hank Cavagnaro/KFVS)
CAPE GIRARDEAU, MO (KFVS) -

Cape Girardeau passed a resolution Monday night supporting Tax Incremental Financing for the redevelopment of Esquire Theater. This will allow the someone to redevelop using the TIF.

If you've spent any time in downtown Cape Girardeau, you'd probably recognize the old Esquire Theater. But since the lights on the outside have been out for more than 30 years, it's in need of some work. 

The president of the Cape Chamber, John Mehner, understands that.

"It needs a lot of work and you know there are some people who prefer that old buildings be torn down," said Mehner. "There are many others who prefer that old buildings be restored, and I think we have an opportunity here to have this building re-developed."

According to the State, to be eligible for this type of funding a building needs to be blighted.

As for taking already collected tax dollars, Mehner says that it wouldn't touch those.

"It's not a pot of money that the city has from existing tax payers... that's not what's used for TIF... They're the ones paying the increased property tax based on the development that they do."

The city will now hear proposals for possible redevelopments.

Download the KFVS News app: iPhone | Android

Copyright 2018 KFVS. All rights reserved.

  • Heartland NewsMore>>

  • Guests evacuated after fire at Cape Girardeau hotel

    Guests evacuated after fire at Cape Girardeau hotel

    Saturday, April 21 2018 6:11 AM EDT2018-04-21 10:11:38 GMT

    Hotel guests were evacuated from their rooms after one of the units caught fire on Saturday, April 21 in Cape Girardeau. It happened at the Drury Plaza Hotel on Percy Drive just after 1 a.m.  According to the Cape Girardeau Fire Department, a fire was started in a trash can placed in a bathroom which activated the sprinkler system.  The department attributes this system with extinguishing the fire.  The Cape Girardeau Fire Department says the fire was...

    Hotel guests were evacuated from their rooms after one of the units caught fire on Saturday, April 21 in Cape Girardeau. It happened at the Drury Plaza Hotel on Percy Drive just after 1 a.m.  According to the Cape Girardeau Fire Department, a fire was started in a trash can placed in a bathroom which activated the sprinkler system.  The department attributes this system with extinguishing the fire.  The Cape Girardeau Fire Department says the fire was...

  • Death investigation underway in Ballard County, KY

    Death investigation underway in Ballard County, KY

    Friday, April 20 2018 10:19 PM EDT2018-04-21 02:19:28 GMT
    (Source: Raycom Media)(Source: Raycom Media)
    (Source: Raycom Media)(Source: Raycom Media)

    Multiple departments responded to help with a death investigation on Friday, April 20 in Ballard County.

    Multiple departments responded to help with a death investigation on Friday, April 20 in Ballard County.

  • Leaders look at reducing deaths of infants & moms in Missouri's Bootheel

    Leaders look at reducing deaths of infants & moms in Missouri's Bootheel

    Friday, April 20 2018 9:40 PM EDT2018-04-21 01:40:21 GMT
    (Source: Pixabay)(Source: Pixabay)
    (Source: Pixabay)(Source: Pixabay)

    Medical and government leaders in Missouri's bootheel are continuing their goal to take care of more mom's before, during and after pregnancy.

    Medical and government leaders in Missouri's bootheel are continuing their goal to take care of more mom's before, during and after pregnancy.

Powered by Frankly