Downtown Kansas City Corporate Welfare Monstrosity Returns?!?

A disgusting bit of glass and steel blight threatens the KCMO skyline once again and whilst the ridiculous AI renderings are intended to evoke awe . . . Let's not forget that we've seen the plan previously. 

Last time around the council rejected the ask . . . And half a BILLION bucks STILL seems kinda rich for Port KC given that the sketchy organization might be front loaded with stadium shenanigans in the very near future. 

However . . . 

Per ushe, the always irrationally exuberant development crowd is already calling this upcoming blight a done deal even when the market for more urban office space is softer than the on screen presence of Timothée Chalamet.   

 Still we share the money line . . . 

"The PortKC Development Committee did advance the tax incentive request yesterday which will go on to a full board vote later this year. The incentive plan is for up to $500 Million in bonds for the project and a 25-year tax abatement. Years 1-17 will be a 90% abatement, year 18 will be a 60% abatements, years 19 and 20 will be a 50% abatement, and remaining 5 years will be a 25% abatement.

"According to PortKC, the current 4.25 acre site will generate just under $1.6 Million in property taxes over the next 25 years if left undeveloped. If developed as envisioned, the site will generate just over $19.2 Million in property taxes. The City will also pick up additional sales, hospitality, and earnings tax from the project.

"Per the PortKC presentation, the total development cost for Encore on Broadway is estimated at around $440 Million with the Business Journal reporting that the hotel component will cost $121.6 Million and the office building will cost $100.8 Million. The apartment tower will cost around $210 Million."

Check more AI spam for the project as locals might forget that the last downtown skyscraper championed by Port KC ended with one of their developer buddies confronting federal charges . . . 

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

KCP: Encore on Broadway Increases in Scope

Developing . . .