PALMYRA, Mo. — Palmyra’s forthcoming Community Improvement District is moving ahead toward the goal of enhancing local business and attracting growth to town, as City Council members approved the boundaries during their Thursday meeting.
Council member Brock Fahy handed out a map to fellow council members and city officials, detailing the boundaries for the new district. After talking with Hannibal Regional Economic Development Council Executive Director Corey Mehaffy, the boundaries were changed so they focused on commercial businesses and areas which could be developed into businesses in the future. The council revised the boundaries to exclude residential homes, which are not part of this stage of the program, and include more commercial businesses in the CID.
According to a document from Mehaffy, the CID could establish up to a 1% sales tax levy only within the district. Money from the additional tax would be used on improvement projects within the CID only. Additionally, there is an option for real property tax abatement within the district, which minimizes the costs to downtown business owners.
Fahy said the new boundaries start at the four-way stop at Ross Street, by Juette Brothers and the gas station, moving down behind the Farm Bureau office on Lane Street but excluding the residential part of the street. From there, the boundary line for the district weaves in and out of alleys before arriving near Jefferson Street, where it follows Lane Street all the way to West Main Cross, reaching the outer business including Compton’s Furniture and More, Brown Furniture, Hardee’s and Country Butcher Shop. It will circle back using the creek, coming back the around the car wash, the Marion County Courthouse and nearby businesses.
Fahy said the next steps will involve Mehaffy reaching out to all of the businesses and share more information about the program. Fahy noted he “heard nothing but positive things from a few businesses that have already approached me” after they heard about the CID plans through the newspaper.
“I really look forward to seeing how this can grow Palmyra, how we can better our city and our community — and how it will shape us, more than anything,” Fahy said. “I think giving our downtown a huge facelift will be a big positive for Palmyra and our community.”
Fahy pointed out how Palmyra’s downtown is already unique, and the CID improvements will make it more “vibrant, upbeat and upgoing,” encouraging new businesses and new people to come to the Flower City.
“I really look forward to all that, and I think [Mehaffy] can help us with endless opportunities down the road by doing all this. Really, you just can’t put into words what it will do for Palmyra and what I look forward to it doing,” he said. “It could really reshape our town, and make us way better than where we’re at now.”