Sedalia Council Passes FY26 Budget, Hears TIF Update

A public meeting that preceded adoption of the City of Sedalia’s FY 2026 budget was met with one comment.

Debbie Covington remarked that since DNR stepped in and halted the City’s demolitions recently due to asbestos and lead concerns, the City should completely remove the money reserved for demolitions out of the budget this year and reevaluate it.

That hearing was followed by another hearing. This one was for the Midtown and West 50 TIF plans.

No comments were received from the public.

John Simmons then gave a presentation, noting that TIF was amended in 2019.

Added to the West 50 TIF (Tax Increment Financing) district were Slim Chickens (2023), Big-O Tires (2020), Aspen Dental (2018).

There is remaining land to be developed at the West 50-Main Street-Oak Grove intersection (west of Big-O Tires), Simmons pointed out.

The assessed valuation added to the project is $513,208. Anticipated assessed valuation of the district at termination of TIF will be $2,203,551.

The economic activity tax since inception amounts to $225,000.

“Revenue on hand from this account currently account stands at $66,405.91,” Simmons said.

The Midtown TIF agreement was modified in 2018. Simmons noted completion of the Trust Building project, Broadway Arms demolition, and the South Ohio Streetscape project.

At the Hayden Liberty Center, “we’re still reviewing some bills from them for payment,” Simmons said.

Get our free mobile app

New businesses this past year include Los Volcanos, Marie Grace Boutique, Designer’s Touch Boutique, Kemp’s Country Market, Lost Cargo Thrift Store, and Redeemed Threads Consignment and Boutique.

The assessed valuation added to the Midtown district is $4,274,190.

Since its inception, a total of $1,709,759 has been received, and revenue on hand currently stands at $9,772.85. Economic activity taxes since inception amounts to $9,154. 96.

Fourth Ward Councilwoman Rhiannon Foster attended Monday night's meeting online.