KANSAS CITY- Hyatt requested a $13-million tax break from Kansas City tax commissioners yesterday to help finance a proposed hotel and office space development project near the Country Club Plaza, the Kansas City Star reports.
The Kansas City Tax Increment Financing (TIF) Commission approved a financing agreement with BH Plaza LLC, the entity created by Hyatt and Block Real Estate Services, its partner on the project, to conduct a “blight” study and financial analysis of the site, the first step in winning the TIF tax break.
The commission’s endorsement was not unanimous. As the Star reports:
Scott Jacoby, a TIF commissioner representing Jackson County, voted no, and Debbie Siragusa, who represents the Kansas City Public Library, abstained on what usually is considered a routine request for the development to support a blight study and financial analysis for the endeavor.
Jacoby protested that the proposed funding agreement was submitted late to the TIF Commission. Siragusa said the library would be critical of any new TIF plan proposed for the Plaza area.