Memorial Hall renovation being evaluated by Joplin finance committee

Projections made in consultant reports for a proposed Memorial Hall renovation are being studied by a finance committee that will report to the Joplin City Council.

After hearing a recommendation for a $25 million multiuse renovation of the hall, the council asked the finance committee to review the financial assumptions made by the consultants.

City Manager Nick Edwards said at a meeting of the committee Thursday that city officials want to know if the revenue estimates are realistic. He told the group, made up of local finance professionals, that their opinion could build trust in the concept of renovating the hall.

City documents show that issuing bonds for the cost of the renovation project might be a way to pay for the project. If so, a source of revenue would have to be determined to make the bond payments. That might result in a proposal to increase property taxes, which voters would have to approve.

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