Board Declines to Endorse TIF Funding for KC Hotel Project
A Kansas City, Missouri, board has recommended against public subsidies for a luxury hotel project that developers say is intended for “the Mercedes audience.”
The Kansas City Star reports that members of the Kansas City Tax Increment Financing Commission Board voted 8-3 Thursday against a 23-year TIF agreement. The board only makes recommendations, but the negative vote means the project requires a supermajority of nine votes to win City Council approval.
Developers Whitney Kerr Sr. and Eric Holtze want to build a 145-room hotel near the Kauffman Center for the Performing Arts. They say Kansas City needs a top-of-the-line hotel to compete with other major American cities for top conventions and events.
New Democratic Mayor Quinton Lucas has been critical of incentives for new developments, especially for luxury projects.