TIF Commission Nullifies Tax Breaks For KC Federal Reserve Building

The Federal Reserve Bank of Kansas City | Photo courtesy of the Federal Reserve Bank of Kansas City
The Federal Reserve Bank of Kansas City | Photo courtesy of the Federal Reserve Bank of Kansas City

The Tax Increment Financing Commission of Kansas City board voted to proceed with nullification of about $8 million in bonds being used to finance projects in the Southtown TIF Plan that includes the new Federal Reserve building, which generates about $2.7 million a year in property tax revenue now being diverted to TIF projects. The commission’s city-appointed members and non-city taxing jurisdiction representatives have long been at odds over whether that revenue should be diverted from city, county, library and school coffers to finance development projects.

Read more from the Kansas City Business Journal


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