Wednesday, October 09, 2019
KANSAS CITY 4-STAR LUXURY HOTEL TAX BREAK PROPOSAL SHUT DOWN AGAIN!!!
Today's excuse for good news, corporate welfare takes another step backward amid a worsening political climate and economic conditions . . . Checkit:
After hours of contentious questioning, the Tax Increment Financing Commission of Kansas City granted developers of a proposed luxury hotel another delay in their months-long quest to get a substantial incentive package for the $63 million project.
The previous two delays meant to allow the developer time to try to reconfigure the financing to provide more money to taxing jurisdictions — the public entities affected by any abatements. However, when the developer came to Wednesday’s meeting, some of those affected taxing jurisdictions had not seen the adjusted proposal that was presented. The development team is led by Whitney Kerr Sr. of Cushman & Wakefield and Eric Holtze of Denver-based EJ Holtze Corp.
More deets for subscribers here:
KC Biz Journal: TIF Commission again delays weighing proposed downtown luxury hotel
Developing . . .