Petition updateVote No on Subsidies for LuxuryShould tax payers subsidize luxury housing?
Coalition for Kansas City Economic Development Reform
May 23, 2018
We would like to commend Mr. Edwards and Mr. Okafor of the 353 Board for turning down the Economic Development Corporation of KCMO staff recommendation for 100% abatement for 25 years to build luxury apartments. While we wish this project had been completely voted down, Mr. Okafor then made a motion to approve abatement with the caveat that there would be an audit after five years, in which time if the project was doing as well as the first project is, the abatements would cease and even paid back to some extent. That motion carried 3 to 1 with Mr. Edwards being the no vote, who made it clear that the entire request was "laughable". This recommendation will now be given to city Council in which they will either discuss it in the Planning and Zoning committee, or the Business and Finance committee. We will need as many people as possible to voice their opposition to their City Council representatives immediately because it is very clear that market rates should carry this project forward without the need for tax subsidies. KC Star Article- http://www.kansascity.com/news/business/development/article211740414.html If luxury housing is high risk due to competition created by the same people trying to build luxury housing, then why are we asking tax payers to subsidize it? Find your City Council representative here- http://kcmo.gov/map-of-city-of-kansas-city-mo-council-districts/
Copy link
WhatsApp
Facebook
Nextdoor
Email
X