Sorry but this scheme looks like the latest addition to the UG's long list of local economic FAIL.
Sadly, broke-ass taxpayers who can't afford the fancy parties host at this place are now stuck paying the bill . . . Take a peek . . .
"At an Economic and Development Committee meeting Monday, the developer will solidify an agreement with the Unified Government for the issuance of $13 million in industrial revenue bonds. The bonds, a common request by developers, provide a sales tax exemption on the cost of acquiring, constructing and equipping a project . . .
"In March 2021, the UG committed to provide $2 million in public financing for the project, including through a 22-year community improvement district that allows a special sales tax of up to 2% sales tax, and tax increment financing from a previously approved district.
"Under that agreement, Flying Truss would receive as much as $75,000 from the UG to cover upfront costs, once the developer shows it has at least that amount in matching private financing, and the remaining $1.925 million balance through approved draws during construction. Flying Truss is raising private funds for the project."
Read more via www.TonysKansasCity.com link . . .
Rock Island Bridge developer will ask Unified Government for sales tax exemption - Kansas City Business Journal
Developer Flying Truss LLC inches towards redevelopment of the historic Rock Island Bridge in Kansas City, Kansas. At an Economic and Development Committee meeting Monday, the developer will solidify an agreement with the Unified Government for the issuance of $13 million in industrial revenue bonds.