Kansas City TIF Commission approves additional Cerner funding

Redevelopment of Kansas City's Bannister Mall, which closed its doors in 2007, hinges on tax credits that are under scrutiny.
Cerner will redevelop a swath of land in south Kansas City once occupied by Bannister Mall. | Courtesy of Creative Commons

Kansas City’s Tax Increment Financing Commission has approved an additional $110 million in subsidies for Cerner’s 290-acre Three Trails project in south Kansas City.

The additional support would help pay for 50 acres of development not in the original plan. The company now seeks $1.75 billion in city and state support for the project, with $774 million of that coming from city-related tax increment financing.

The total cost of the project is now estimated at $4.5 billion, and the development is expected to house 16,000 workers. The company hopes the Kansas City Council will vote on the its revised development plan, which includes the additional subsidies, in August. Following approval, development is expected to begin later this year.

Read more from the Kansas City Star

 

 


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