The Jefferson City Council recently amended their urban renewal plan to help pay for two additional projects.

The amendment was for a total of $351,000 for the remaining balance of the Highway 4 overpass bridge to the Department of Transportation and engineering and design costs for storm sewer drainage study for the north part of the city. City Administrator Mike Palmer explains how the urban renewal plan works in regards to using tax increment financing money, which isn’t a new tax for residents.

“An urban renewal area was created some time ago, but over time that can change and this allows flexibility. Just amending the plan you can draw on new tax dollars that are obtained within that plan. It’s a good way when we do create some new taxable value, is to use it in the area that’s been designated.”

With the addition, the City’s outstanding general obligation debt is $5,850,000. The debt limit is $10,338,000.