Cerner redevelopment project approved for south KC site

Kansas City’s Tax Increment Financing Commission on Wednesday approved a development agreement for Cerner Corp.’s $4.45 billion campus in south Kansas City.

The campus, which will be located on the former Bannister Mall site, is the largest economic development project in Missouri. It will be built in 16 phases with about $2.7 billion in private investment leveraged by public support. Cerner officials say the project will add up to 16,000 jobs within 10 years.

The development plan provides for about $1.7 billion in reimbursable project costs to Cerner, with $774 million to be reimbursed from TIF revenue, $317 million from super TIF revenue and $654 million from Missouri supplemental TIF revenue.

The agreement approved Wednesday provides only for the reimbursement of TIF and super TIF revenues, totaling about $1.1 billion, and requires that Cerner pay $2 million to a neighborhood improvement and infrastructure plan and $6 million to a Hickman Mills education program.

Read more: Kansas City Star

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