COLUMBIA, Mo. (AP) - Columbia business leaders say they no longer want the city to classify certain neighborhoods as blighted to help businesses secure local tax credits.
The Regional Economic Development Inc.'s board of directors voted unanimously Wednesday to ask City Council to drop an 18-month effort to create Enhanced Enterprise Zones.
The zones are distinct areas where businesses can receive tax breaks in return for adding new facilities or jobs. The "blight" label is required by the state Department of Economic Development to create such districts.
The Columbia Daily Tribune (http://bit.ly/TQXabc ) reports that opponents fear the label would lower property values and make it easier for local governments to seize property under eminent domain laws. The economic development group cited strong citizen opposition in its decision to drop the plan.
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Information from: Columbia Daily Tribune, http://www.columbiatribune.com