The board of the Planned Industrial Expansion Authority of Kansas City voted to accept the surprise resignation of Al Figuly, the longtime executive director of the incentive-granting body. Figuly, who will retire at the end of the year, has led the PIEA for 12 years.
During that time, dozens of developers have sought public support through the PIEA, a statutory agency created to foster commercial and industrial development in specifically designated redevelopment areas. The standard PIEA abatement of new property taxes resulting from new construction or rehabilitation includes a 100 percent abatement for 10 years, followed by 50 percent for 15 years.
Figuly’s retirement announcement comes as the city is implementing its new AdvanceKC economic development reforms, which will place all of Kansas City’s incentive-granting bodies under the umbrella of the Economic Development Corp. of Kansas City, which will serve as a single point of entry for developers seeking support.