OFFICIAL - Strata (H&R Block's 2nd Tower)

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WoodDraw
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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by WoodDraw » Wed Jun 26, 2019 4:48 am

beautyfromashes wrote:
Wed Jun 26, 2019 2:42 am
Apparently, the Star Opinion board can’t do any actual journalism, saying there aren’t any tenants for this building so it shouldn’t receive incentives. Trust me, there are.
And we all know there are. It's shitty, lazy journalism.

langosta
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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by langosta » Wed Jun 26, 2019 10:16 am

Council Committee Action : Recommended Do Pass

KCPS provided public testimony for the delay of this project, increased funding for the schools, and noted a public dislike of incentives.

New details:
- Estimated break even rent:$32 SF, estimated market rate $38-40 SF.
- If nothing is built by 2027, Cordish gains development rights and has said they would build a residential tower

KCLover
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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by KCLover » Wed Jun 26, 2019 7:03 pm

This article says it's going to be 25 stories now.
https://fox4kc.com/2019/06/26/new-downt ... ax-breaks/

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TheLastGentleman
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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by TheLastGentleman » Wed Jun 26, 2019 8:16 pm

KCLover wrote:
Wed Jun 26, 2019 7:03 pm
This article says it's going to be 25 stories now.
https://fox4kc.com/2019/06/26/new-downt ... ax-breaks/
I thought it had always been 25 stories? What was it before?

missingkc
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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by missingkc » Wed Jun 26, 2019 8:48 pm

24

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normalthings
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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by normalthings » Mon Jul 08, 2019 1:03 am

Project is now offering a ground floor “coffee shop” retail space.

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normalthings
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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by normalthings » Fri Jul 12, 2019 12:00 am

Passed as amended.


Any proceeds for the city will be put into the Housing Trust Fund.
BE IT ORDAINED BY THE CITY COUNCIL OF KANSAS CITY:

Section 1. That the City Manager is hereby authorized to execute the Master Development Financing Agreement among the City of Kansas City, Missouri, the Port Authority of Kansas City, Missouri and Power Tower Block 124, LP in substantial form as that attached hereto as Attachment A.

Section 2. That the City Manager is further authorized to execute any and all other related documents necessary for the City’s performance of its obligations set out in the above Master Financing Agreement.

Section 4. That the Council reaffirms its direction as set out in Committee Substitute for Ordinance No. 180982, As Amended, that in the event the documents authorized herein are executed and the Block 124 Office Tower and related parking garage are constructed, the public participation share in excess of that required for debt service shall be directed to the Housing Trust Fund and used for the purposes authorized with respect to such Housing Trust Fund, for so long as the City is entitled to receive the same. In the event that the Housing Trust Fund shall not exist or shall cease to exist, the share identified herein shall be directed to the Shared Success Fund.

Section 5. That this ordinance is recognized as an ordinance with an accelerated effective date as provided by Section 503(a)(3)(D) of the City Charter in that it relates to the construction of a public improvement, and shall take effect in accordance with that section.

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DaveKCMO
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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by DaveKCMO » Fri Jul 12, 2019 7:01 am

The city could raid excess TIF funds for the housing trust fund, just like they do for northland roads and bridges.

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