Kansas City Scarritt Building Comeback By Way Of EPIC Subsidy

A peek at 12th & Oak largess . . . 

"This month, the City Plan Commission and the Board of Zoning Adjustment signed off on a special use permit to allow for a 169-room hotel in the Scarritt Building, which was built in 1907.

"The City Council approved a tax increment financing plan for the project in December. Known as TIF, such plans redirect some or all new tax revenue — generated by the development — back into supporting its costs for a temporary period of time. For the Grand project, that could be up to $109 million in taxes redirected from various sources at certain percentages — such as food and beverage taxes, earnings taxes on employees and public safety sales tax — for 23 or 30 years, alongside a possible special 1% sales tax."

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

Incentives for hotel project have KC Council members asking questions. 'There's a lot'

Skip the paywall and read by way of Internet archive or public library card.