"The developer seeks a 75% tax abatement for 10 years and 37.5% for the next five years and as much as $4 million from the 22nd and Main tax increment financing district. Documents filed with the PIEA give the requested abatement an undiscounted value of roughly $8.36 million. A consultant for the PIEA suggests a 75% abatement for 10 years, along with the TIF redirection, for an undiscounted value of $7.66 million."
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Plans for a $52.4 million luxury apartment building and parking garage could get a boost from Kansas City's Planned Industrial Expansion Authority. Board members are scheduled Thursday morning to consider a proposal from Tracks 215 LLC, to build a five-story, 150-unit apartment building - above a two-story, 301-space garage - southwest of the intersection at Wyandotte and West 22nd streets, in the Crossroads' Freighthouse District.