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Incentive program spurs new life in downtown Hannibal building

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An incentive program is spurring further development in downtown Hannibal.

Tuesday night, city council approved a cooperative development agreement with Dutch Country General Store. The store will open on Main Street.

The agreement is for five years and provides a tax incentive for the company if taxable sales exceed a certain amount.

"Anything up to 500 thousand, the city collects their entire 2.25 percent. Anything from 500 to 600 thousand the city would rebate 25 percent of that overall and then anything above 600 thousand, 50 percent would be rebated," said Hannibal Regional Economic Development Council Executive Director Corey Mehaffy.

Officials said the store is scheduled to open in the beginning of April.

Also out of Hannibal City Council Tuesday:
The council got its first look at an audit of the Hannibal Board of Public Works. The audit suggests a number of changes BPW can implement.

The council also tabled a vote that would reject a bid to sell the current Convention and Visitors Bureau building.

Brett Knese

Multi-Media Journalist at WGEM News.

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