Old Town Redevelopment Company Seeks Property Donations
The Old Town Redevelopment Company is on the lookout for “property opportunities”. That’s the term given to properties in desperate need of substantial investment to make a property usable during a recent Old Town Board meeting at the Jefferson City Area Chamber of Commerce. Old Town wants to visit with those unwilling or unable to make that investment, and make them aware a large tax deduction could be just a signature away.
The Old Town area is a geographic area bordered by the Missouri River on the north, Clark Avenue on the east, Stadium Drive on the south, and Dix Road on the west—essentially, Jefferson City as it existed in 1950. The Old Town Redevelopment Company is a Community Development Corporation established to enhance redevelopment in the city’s core.
“As a community, Jefferson City can’t sustain growth without a healthy center”, remarked Phil Freeman, Chairman of the Old Town Redevelopment Company. “Think of it as the hub of a wheel. If the hub is not structurally sound, the entire wheel is suspect.”
In essence, property owners who could benefit from a generous tax deduction should consider donating property to the Old Town group, who will then clean up or market the property to investors who specialize in redevelopment.
“It’s a win-win-win situation”, says the Chamber’s Community Development Director, Mark Mehmert. “The original property owner gets a tax deduction; the new investor gets a piece of property relatively inexpensively; the community gets a property which was formerly a drag on the area is able to become an asset and a boost to the tax base.”
Property owners who may be looking for ways to divest themselves of property while gaining a substantial tax deduction should contact Ron Medin at the Old Town Redevelopment Company or Mark Mehmert at the Jefferson City Area Chamber of Commerce.
Mark Mehmert, Community Development Manger
Established in 1893, the Jefferson City Area Chamber of Commerce works to improve our community by:
- Developing local leaders
- Encouraging existing businesses
- Marketing nationwide to businesses considering expansions and relocations
- Advocating for infrastructure improvements in Cole County
- Facilitating redevelopment in the city’s core
Our mission…to promote economic vitality and strength in the Jefferson City area and to be a leading public policy advocate for business people; to provide valuable services to our members; and fully participate in activities that improve the economy and quality of life.