Title
An Ordinance approving a lease agreement for the Paragon Star Village Garage Land Clearance Redevelopment Authority Redevelopment Plan.
(Note: First read by Council on March 10, 2026.)
Body
Issue/Request:
This is an ordinance approving the Lease Agreement for the Paragon Star Village Garage LCRA Redevelopment Plan, between the City of Lee’s Summit, Missouri and Paragon Star, LLC, (the “Developer”).
Key Issues:
Request to approve the implementation documentation for the Paragon Star Garage LCRA Redevelopment Plan.
Council Motion:
I move for second reading of An Ordinance Approving the Lease Agreement between the City of Lee’s Summit and Paragon Star, LLC, for the Paragon Star Garage Land Clearance for Redevelopment Authority (LCRA) Redevelopment Plan
Background:
Paragon Star Incentive History
The City approved the original Paragon Star Tax Increment Financing (TIF) Plan through the adoption of Ordinance No. 7833 on March 10, 2016. The City approved the First Amendment to the TIF Plan through the adoption of Ordinance No. 8946 on September 8, 2020. The City and Paragon Star, LLC (the “Developer”) executed the Amended and Restated TIF Contract on September 8, 2020 (the “TIF Contract”).
The City Council has also approved other incentives for the Project. The City Council approved the I-470 and View High Community Improvement District (“CID”) through the adoption of Ordinance No. 7762 on December 3, 2015.
The Western Gateway Transportation Development District (“TDD”) was approved by the Jackson County Circuit Court on May 24, 2018. The TDD issued the Transportation District Sales Tax Bonds in February 2019 in the total amount of approximately $31,773,000 which are funding the road improvements, bridges and the interchange improvements.
Previously, the Council approved the Paragon Star LCRA Redevelopment Plan for the Paragon Star Garage through the adoption of Ordinance No. 9466 on July 19, 2022.
LCRA Proceedings
The LCRA Board of Commissioners held a public hearing on June 22, 2022, and adopted a resolution recommending approval of LCRA Plan for the Garage.
Presenters
Ryan Elam, Assistant City Manager
Megan Miller, Gilmore & Bell, Economic Development Counsel
Committee Recommendation
The LCRA Board of Commissioners approved a resolution that recommended approval of the LCRA Plan for the Garage to the City Council.