Hello, MBA readers,
Missouri lawmakers are once again eyeing potential tax cuts, this time targeting personal property tax. A Republican-backed bill under consideration in the Missouri House would let voters decide if personal property tax continues to be collected in the state. Eliminating the tax would reduce revenue for local governments by an estimated $1.7 billion. Meanwhile, as people eye a return to more in-person activities, universities across the state are mulling COVID-19 vaccination policies for students and employees. The University of Missouri has said it will encourage but not require vaccinations ahead of the fall semester. Some other prominent universities, including St. Louis University and Washington University, have not announced official plans. And, in Kansas City, construction on one of the biggest infrastructure projects in city history has reached its halfway point. Officials say the $1.5 billion new terminal at Kansas City International Airport is on budget and on schedule to finish by March 2023.
Universities consider COVID-19 vaccine requirements
Some schools across the U.S. will require students to get vaccinated before returning in the fall. The University of Missouri-Columbia and University of Missouri-St. Louis have said they will encourage but not require vaccines. St. Louis University and Washington University have not made decisions. (St. Louis Post-Dispatch)
KDG proposes $99 million development in Cortex Innovation Community
The developer revealed plans for a three-building project in the midtown St. Louis district with residential, office and retail space. (St. Louis Business Journal)
Cordish sets groundbreaking for two downtown KC apartments
The Baltimore developer plans to begin construction in May on the $140.3 million Three Light luxury apartments and within months on the $25 million Midland Lofts. (Kansas City Business Journal)
Proposal to reduce size of Missouri House passes committee
The bill would cut 27 members from the Missouri House of Representatives, bringing its membership to 136 from 163. (St. Louis Post-Dispatch)
State to offer Real ID location at St. Louis airport
Missourians will soon be able to upgrade to Real IDs, which will be required for air travel, at St. Louis Lambert International Airport. (St. Louis Business Journal)
Local governments in Missouri could lose an estimated $1.7 billion in revenue under a plan being proposed in the Missouri House to let voters decide on the future of personal property taxes, the St. Louis Post-Dispatch reports. That would include about $900 million that helps fund school districts in the state. The tax is charged on property like vehicles, livestock and machinery. The Republican-backed bill would let voters choose if the tax continues to be collected. There are 29 other states that do not have personal property taxes.
Today marks one year since the start of structural steel on the @KCIAirport New Terminal. In the 12 months that followed, craftworkers installed more than 12,300 pieces or 9,450 tons of steel to create the New Terminal skeleton. #BuildKCI @KCIEdgemoor https://t.co/bMvHuqhIiG pic.twitter.com/3nJKIpHpY3
— BuildKCI (@BuildKCI) April 6, 2021
Construction of the new $1.5 billion terminal at Kansas City International Airport has reached its halfway point, with officials reporting that the project remains on schedule and on budget, The Kansas City Star reports. Officials showed off progress on the 1 million-square-foot facility at an event Tuesday. About 850 workers are employed on the construction site at the moment. The terminal is slated to open in March 2023.
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Comeback KC Ventures
This program is one of two Missouri projects chosen to receive a share of $29 million in federal funding aimed at using innovation and entrepreneurship to address economic issues caused by the COVID-19 pandemic. The funds are part of a U.S. Economic Development Administration challenge grant. Comeback KC Ventures, run by the University of Missouri-Kansas City Innovation Center, will use a $750,000 federal contribution and a $239,000 local match to identify pandemic-related community needs and come up with technology-based solutions. The other Missouri program selected was the TechSTL, which is being launched by the St. Louis Development Corp. It aims to improve the St. Louis entrepreneurship ecosystem by expanding services like early-stage business validation and investor readiness education.