Hyatt Asks KC For $13M Tax Break For Hotel And Office Complex

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.

Photo courtesy of Creative Commons

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.

 


Tags:, ,

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students

Learn more