KC May Use TIF to Revitalize 20-Block Swath of City's East Side
The Tax Increment Financing Commission of Kansas City next month will consider a "proactive" city-backed TIF district aimed at stabilizing and revitalizing a 20-block-long swath of the city's East Side. The TIF district would divert 50 percent of economic activity tax revenue, which includes sales tax and earnings tax revenue.
Error Sends $1.8B Overland Park Project Back to Square One for Incentives
That lack of notification has rendered ordinances creating two districts invalid and sends the developer back to square one in seeking incentives for the nearly 5 million-square-foot redevelopment.
St. Louis' Cortex Seeks $20M TIF
The next phase of the Cortex Innovation District phase could tap an estimated $20 million in tax increment financing assistance. The district would request $20 million, or 11 percent of the cost, of the $170 million project.
St. Louis Commission Backs 19.4M TIF for Foundry, Not Abatements
St. Louis' Tax Increment Financing Commission supported $19.4 million in tax breaks for the City Foundry project, but weren't sold on the developer's tax abatement request. The Lawrence Group wants a decade of full property tax abatement and 50 percent off for 15 additional years.
Taxes Will Help Cardinals Cover Ballpark Village Expansion
The Cardinals could catch as much as $65 million in public money toward a $220 million Ballpark Village expansion. In addition to tax increment financing, the Cardinals could also begin collecting a 1 percent sales tax in Ballpark Village, which was part of its deal with the city for the complex's first phase, but never imposed. Apartments, offices and retail would be added.
USDA Grant Targets Small Business Development in Rural MO
Over $200,000 in grant money will provide technical assistance for economic development strategies in a dozen Missouri communities. The funding, announced Wednesday by the U.S. Department of Agriculture (USDA), is part of $7.6 million in grants nationwide to support job training in rural America.
KC Project Gets Additional Tax Incentives
The Westwood City Council voted to expand a tax increment financing deal for the project. To help the developers cover the additional costs, the council voted to increase the public financing limit for the entire development from $22 million to $28 million.
St. Louis' Koman Group Asking for $8.7M in TIF
The Koman Group is asking for $8.7 million in tax increment financing (TIF) for a $43.5 million, five-story mixed-use development across the street from Busch Stadium. The deal would move 310 jobs currently located across multiple unspecified offices to the development and potentially add another 280 jobs in the future.
St. Louis Redevelopment Authority Approves $120M Bond Issue
The St. Louis Land Clearance for Redevelopment Authority (LCRA) approved a resolution allowing it to issue $120 million in bonds to be used on site work for the National Geospatial-Intelligence Agency's (NGA) new western headquarters. Bond proceeds will be used to pay for acquiring land in the north St. Louis site and environmental work.
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