EDC says redevelopment pipeline is all but frozen

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KCMax
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EDC says redevelopment pipeline is all but frozen

Post by KCMax »

Interesting article on development from Collison. Obviously things have come to a halt. Funk bears some blame, but a terrible economy and the credit crunch also played a huge factor. Another ominous sign - some rural state legislators want to curtail some of the tax credits cities use as tools for development like the historic tax credit.

EDC says redevelopment pipeline is all but frozen

In his report to the EDC board, Kaczmarek said the redevelopment project pipeline was all but frozen, not just at his place, but throughout all City Hall departments and agencies. Of course, the national economic downturn and accompanying credit meltdown have been huge factors....

“The TIF pipeline has turned into a vacuum,” he said.

The only development activity Gonzalez could cite was the City Council’s recent decision to extend a 1999 TIF agreement on the historic Savoy Hotel to give a new developer a chance to pursue a $25 million redevelopment plan for the downtown landmark.

There was one upbeat note. Kaczmarek said there were 63 projects in the new business pipeline at the EDC. Those aren’t done deals, just active discussions....
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Re: EDC says redevelopment pipeline is all but frozen

Post by aknowledgeableperson »

KCMax wrote: Funk bears some blame, but a terrible economy and the credit crunch also played a huge factor.
At this point it is the economy and the credit crunch.  Don't forget, towards the end of Queen Barnes time in office development was already slowing down in KC.  It wasn't like development ended all of the sudden.
I may be right.  I may be wrong.  But there is a lot of gray area in-between.
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Highlander
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Re: EDC says redevelopment pipeline is all but frozen

Post by Highlander »

KCMax wrote: Interesting article on development from Collison. Obviously things have come to a halt. Funk bears some blame, but a terrible economy and the credit crunch also played a huge factor. Another ominous sign - some rural state legislators want to curtail some of the tax credits cities use as tools for development like the historic tax credit.

EDC says redevelopment pipeline is all but frozen

In his report to the EDC board, Kaczmarek said the redevelopment project pipeline was all but frozen, not just at his place, but throughout all City Hall departments and agencies. Of course, the national economic downturn and accompanying credit meltdown have been huge factors....

“The TIF pipeline has turned into a vacuum,” he said.

The only development activity Gonzalez could cite was the City Council’s recent decision to extend a 1999 TIF agreement on the historic Savoy Hotel to give a new developer a chance to pursue a $25 million redevelopment plan for the downtown landmark.

There was one upbeat note. Kaczmarek said there were 63 projects in the new business pipeline at the EDC. Those aren’t done deals, just active discussions....
While this is all true, it should be remembered that one of the largest office projects in KC history is looming on the horizon; the GSA project.  Assuming it's built and from what I understand it will be built, it will be a great project to shore up the local construction industry.  It just needs to go downtown rather than on the riverfront.  The urgency of a downtown location for this project is greater than ever. 
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Re: EDC says redevelopment pipeline is all but frozen

Post by FangKC »

The EDC plans new business retention effort

http://www.bizjournals.com/kansascity/s ... a=e_du_pub
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