City awarded $130,000 in tax credits
Boonville — The City of Boonville was awarded $130,000 in tax credits from the Missouri Development Finance Board. This program allows any individual or business with a Missouri State tax liability to contribute to the Katy Bridge Rehabilitation project, while also receiving a tax credit, equaling 50 percent, of an individual's contribution.
These donations represent the final funding piece for Phase One of the Katy Bridge Renovation Project, which planning has already started. The majority of the funding for this Phase comes from the announcement of a $470,000 grant from Missouri Department of Transportation. Phase One of the project includes the replacement of the missing span and renovation of the first truss span, up to the lift span; approximately 250 feet. Construction for this project will begin in spring of 2014.
If businesses are interested in contributing to the Katy Bridge Tax credit for Contribution Program, please contact Kate Fjell at City Hall, 660-882-4003. Forms and more information can be provided. To learn more about the advantages of tax credit program specific to your situation, contact your accountant today. The Tax Credits are available on a first come first serve basis and require a minimum $250 donation.