Title
A Resolution of the Tax Increment Financing Commission of Lee’s Summit, Missouri, Recommending that the City Council Approve the East Village Tax Increment Financing Plan and Take Other Actions in Connection with Implementation of the Plan.
Body
Summary of Developer’s Incentive Requests:
East Village Investors, LLC (“Developer”) is requesting incentives to redevelop the proposed Redevelopment Area, which contains approximately 125 acres, which is generally located south of US Highway 50, east of Route 291, west of the Union Pacific Railroad right of way and north of SE 16th Street in Lee’s Summit, Missouri (the “Project”). Developer is requesting the following incentives for the Project:
1. Tax Increment Financing Plan - This incentive would collect 50% of the payments in lieu of taxes (PILOTs) and 50% of the economic activity taxes (EATs) to as allowed by the Real Property Tax Increment Financing Allocation Redevelopment Act as set forth in Chapter 99.800, RSMo et seq. (the “TIF Act”). 50% of the captured PILOTs would be distributed to the taxing districts as “surplus” from the Special Allocation Fund during the life of the TIF Plan.
2. LCRA Redevelopment Plan - The City approved the 291 South Regional LCRA Redevelopment Plan in November 2023 through the adoption of Ordinance No. 9783 to facilitate development and redevelopment of property along the 291 South corridor. The “Project 2 (East Village) LCRA Plan” as filed by Developer was heard by the LCRA Board of Commissioners on November 20, 2025. The Oldham Village LCRA Plan would provide for:
(a) sales tax exemption on construction materials for the Project, and
(b) 75% tax abatement for the apartments.
Key Issues for this Agenda Item:
This is a resolution that would recommend approval of the East Village TIF Plan.
Impact/Analysis:
The Cost Benefit Analysis in the public hearing packet, which legally supports the TIF Plan, provides a comprehensive review of the tax benefits to all taxing d...
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