Title
An Ordinance approving the Lee’s Summit Industrial Land Clearance for Redevelopment Authority (LCRA) Redevelopment Plan.
(Note: First read by City Council on August 9, 2022. Passed by unanimous vote.)
Body
Issue/Request:
This is an ordinance that would approve the Lee’s Summit Industrial LCRA Redevelopment Plan, which would provide sales and use tax exemption on construction materials and long-term tax abatement for the proposed industrial development to be constructed by LS Industrial, LLC (the “Developer”). The proposed development is an approximately 595,000 square foot industrial project to be constructed in two buildings on approximately 50 acres of property located east of Highway 291 and south of Bailey Road. Developer is requesting sales and use tax exemption on construction materials and real property tax abatement through the Land Clearance for Redevelopment Authority Act. (This property was previously planned to be “The Grove” project by a prior developer.)
Key Issues:
Ordinance to approve the LCRA Redevelopment Plan for the LS Industrial Project.
Motion:
I move for adoption of An Ordinance Approving the Lee’s Summit Industrial Land Clearance for Redevelopment Authority (LCRA) Redevelopment Plan
Background:
On June 7, 2022, Developer made a conceptual incentive request to the City Council for the requested incentive package and received positive non-binding feedback form the Council.
On June 21, 2022, the City Council passed Ordinance No. 9433 which approved a rezoning from District PMIX to District PI, and a preliminary development plan for the proposed industrial project.
On July 20, 2022, the LCRA Plan was presented to the LCRA Board of Commissioners, and the Board then passed Resolution 2022-3 which recommended approval of the LCRA Plan.
A summary of the key data associated with Developer’s savings for the requested sales tax exemption on construction materials results is:
The abatement request as a portion of the tota...
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