Kansas City Office Space Crash Sparks Desperate Search For Tax Breaks

Earlier today we talked about local outrage against KCATA incentives for sketchy plans along the toy train streetcar extension . . . But a passage in subsequent reporting offers an important perspective on the local economy.

To wit . . .

KANSAS CITY COMMERCIAL REAL ESTATE CRASH SENDS COMPANIES INTO PANIC & DESPERATELY SEEKING TAX RELIEF FOR OTHER PROPERTIES!!!

Per ushe . . . Taxpayers and local institutions are expected to pick up the tab . . .

"Mac's incentive request is driven by a need to offset rents he estimated would be 60-80% lower than those that could be obtained for units built in Downtown, the Crossroads Arts District or the Country Club Plaza."

Read more via www.TonysKansasCity.com link . . .

Mac Properties' KCATA incentive bid for $100M Armour & Main surprises public - Kansas City Business Journal

In its fall city plan application, Mac Properties gave the impression that it would not seek local tax incentives for a $100 million mixed-use at Armour Boulevard and Main Street. Midtown residents were surprised to learn otherwise through a RideKC Development Corp. meeting this week.