Country Club Plaza redevelopment plan seeks up to $1.49B in bonds, tax breaks from Port KC

KANSAS CITY, Mo. — KSHB 41 reporter Olivia Acree covers portions of Johnson County, Kansas, including Olathe and Lenexa. Share your story idea with Olivia.

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The Plaza's owner is asking Port KC to approve nearly $1.49 billion in bonds and significant tax exemptions to fund a phased redevelopment of the iconic Kansas City shopping district.

The measure before the board would express Port KC's intention to issue revenue bonds and authorize the president and CEO to continue negotiations and execute a master memorandum of understanding consistent with the terms presented.

If approved, the redevelopment would unfold in phases over approximately 15 years and could bring significant changes to the Country Club Plaza.

The project would include roughly 824 new apartments, 150 hotel rooms and nearly 1.7 million square feet of commercial and retail space.

In addition to the bond financing, the Plaza's owner could receive both sales tax exemptions and property tax exemptions. The real property exemption would continue for 30 years.

Each phase of the project would receive property and sales tax incentives as presented, and all bond issuances would remain subject to future board approval.

Port KC commissioners are scheduled to vote on the proposal this afternoon at 3 p.m.

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