LISC will make loan to TIF Commission for Midtown projects
Posted: Thu May 31, 2007 9:19 am
This is the first I have heard of this project, but I think its a great one. Do we have an existing thread on it? Anyone have more info?
LISC will make loan to TIF Commission for Midtown projects
Greater Kansas City Local Initiative Support Corp. will make a $550,625 loan to the Tax Increment Financing Commission of Kansas City for rehabilitation projects in the boundaries of the Southtown Corridor/31st & Baltimore TIF plan.
The Blue Hills and Ivanhoe neighborhoods are among those that will benefit from the rehab projects, Greater Kansas City LISC said in a release Wednesday. The original Southtown TIF plan approved in May 1994 was amended in February 2007 to expand the benefit area to include these neighborhoods.
Julie Porter, executive director of Greater Kansas City LISC, said the loan will allow grants for residential property improvements to start now instead of years later. TIF plans divert increases in taxes from developments to be diverted to projects that benefit the public. ...
The amended Southtown TIF plan stipulates that about $250,000 will be allocated to the Blue Hills and Ivanhoe neighborhoods. Qualified residents will be able to receive as much as $10,000 for exterior residential improvements, including facade, roofs, windows, porches, siding, masonry, painting, lighting and fencing.
Homeowners who remain in their homes for five years will not have to repay the grants.
LISC will make loan to TIF Commission for Midtown projects
Greater Kansas City Local Initiative Support Corp. will make a $550,625 loan to the Tax Increment Financing Commission of Kansas City for rehabilitation projects in the boundaries of the Southtown Corridor/31st & Baltimore TIF plan.
The Blue Hills and Ivanhoe neighborhoods are among those that will benefit from the rehab projects, Greater Kansas City LISC said in a release Wednesday. The original Southtown TIF plan approved in May 1994 was amended in February 2007 to expand the benefit area to include these neighborhoods.
Julie Porter, executive director of Greater Kansas City LISC, said the loan will allow grants for residential property improvements to start now instead of years later. TIF plans divert increases in taxes from developments to be diverted to projects that benefit the public. ...
The amended Southtown TIF plan stipulates that about $250,000 will be allocated to the Blue Hills and Ivanhoe neighborhoods. Qualified residents will be able to receive as much as $10,000 for exterior residential improvements, including facade, roofs, windows, porches, siding, masonry, painting, lighting and fencing.
Homeowners who remain in their homes for five years will not have to repay the grants.