Midtown Kansas City Kills Tax Breaks Near Streetcar: Toy Train Out Of Favor?!?

Or . . .

THE STREETCAR RUNS OUT OF JUICE!?!

A few factors that might be influencing this turn of events . . .

Of course . . . KC Tenants will want to take credit.

However . . .

The Midtown corridor is far more populated with real life residents than new luxury downtown living space that's more of a real estate scheme funded by foreign money . . . And so, denizens of midtown have more of a stake than apartment dwellers who can quickly bail on KCMO . . . In the end, parking concerns and politicos helped put down this effort. 

But here's what everybody is missing . . . 

FEDERAL MONEY FOR STREETCARS HAS NEARLY DRIED UP!!!

Prez Obama's administration loved toy trains . . . Now that cash is a bit harder to come by and that THAT tragic fact will lead to the streetcar fad conclude in this cowtown.

Here's the official story . . .

"The Kansas City Area Transportation Authority's board on Wednesday sided with a cadre of Midtown residents in voting against an expression of intent to give the Chicago developer a 15-year, 75% property tax exemption for its 1 W. Armour plan. Mac's project entails 300 apartments and 25,000 square feet of retail and restaurant in two new midrise buildings, plus a U.S. Bank branch renovation, throughout most of a full block."

 To be fair . . . 

It'll be a lot easier to try for these tax credits again AFTER election season . . . And so we urge neighbors not to celebrate too much.

Read more via www.TonysKansasCity.com link . . .

KCATA board votes no on bond incentives for Main Street & Armour Boulevard development

KANSAS CITY, Mo. - The KCATA Board of Commissioners voted no Wednesday on a developer's request for taxpayer help to build a midtown KC apartment complex. Mac Properties already has a huge presence in Midtown, according to KC Tenants community organizer Gabe Coppage. "They own over 2,000 units pretty much all right here in midtown," he said.

KCATA Rejects Tax Break for Mac Properties in Midtown

Confronted by overwhelming testimony from opponents, the Kansas City Area Transportation Authority (KCATA) board voted 6-2 Wednesday to reject a tax incentive request for a 300-unit apartment development proposed for Main Street and Armour Boulevard. The development proposed by Chicago-based Mac Properties had been endorsed for a 15-year tax abatement by the authority's development arm last week.

Kansas City denies tax breaks for apartments on streetcar line after outcry from schools and tenants

Chicago-based developer Mac Properties was again denied tax breaks to fund a project in Midtown - just a year after the Kansas City Council refused a similar request.

KCATA rejects contested incentive for Mac Properties' $100M mixed-use - Kansas City Business Journal

Mac Properties highlighted transit-oriented benefits and a need for new housing during a Kansas City Area Transportation Authority meeting in an effort to win a 15-year property tax exemption for its $100 million 1 W. Armour mixed-use. But the KCATA denied the request after public speakers raised concerns about the project's affordability, need for incentives and support for transit goals.