Belton City Council votes Tuesday on $250M tax incentive plan for major uptown entertainment district

BELTON, Mo. — KSHB 41 reporter Ryan Gamboa covers Cass County in Missouri. He also covers agricultural topics. Share your story idea with Ryan.

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About 40 acres of farmland in the heart of Belton could soon be transformed into a multi-use entertainment, dining, retail, and residential district.

But the project's future hinges on a city council vote Tuesday night.

The council will decide on whether to approve $250 million in tax incentives for the development

The development is planned to be built along 163rd Street to 58 Highway. Plans call for a B&B movie theater, along with a go-cart track and bowling alley.

There also are plans for five, 6,000-square-foot sit-down restaurants, 7,500 square feet of retail, and more than 600 new apartments. The entertainment complex would span 110,000 square feet.

Developer Tyler Burks, managing director of development at PETRA, estimates the district will generate $16 million in new wages, support 500 new jobs, attract 1,200 new residents, and bring millions in new tax revenue to the area.

"Everyone involved from a municipal level with the city is going to get some return from all of that new tax from the project," Burks said on Monday.

The project currently faces a $53 million financing gap. That's the difference between the project's expected financial return and what PETRA would need to make the investment achievable.

Ryan Gamboa/KSHB

The $250 million funding mechanism, known as a Chapter 100 Industrial Bond, covers a 20-year period and is expected to match $250 million in private investment.

The land along 163rd Street to 58 Highway was rezoned for the project back in March. The city entered a memorandum of understanding with PETRA in Spring 2025. That move was to begin drafting the financing tool, months before the project was publicly announced.

Ryan Gamboa/KSHB

Tuesday night marks the first step toward finalizing those agreements. The council must vote again at its next meeting in two weeks before the incentives are formally enacted.

Under the Chapter 100 agreement, the developer would save an estimated $56 million in property taxes over the 20-year period — money that would otherwise provide funds for schools, the city, and other taxing jurisdictions. The agreement also eliminates sales taxes on construction materials for the project.

The council separately approved upward of $7 million in sales tax reimbursements to the developer that would be generated from new businesses in the district. City leaders and the developer say the financial liability falls on PETRA — not on taxpayers — in the event the project underperforms.

Ryan Gamboa/KSHB

Belton resident Star Thomas-Wyse welcomed the prospect of new development coming to the city.

"I really think bringing something here to encourage people to visit Belton or maybe to move here is a genius idea," Thomas-Wyse said.

But Thomas-Wyse was firm about the limits of her support.

Ryan Gamboa/KSHB

"If it puts a financial burden on those of us that live here, as we're all struggling with the financial burdens we're under, that'd be my absolute no," Thomas-Wyse said.

Fellow Belton resident Trevor Peery expressed cautious optimism about what the project could mean for the broader community.

"I would say it provides more entertainments for our young population, such as our children, and the hope for increased tax revenue to help support schools, parks and recreation and things of that nature," Peery said.

Jake Weller/KSHB

If the council approves the incentives, the project is expected to break ground in December or early 2027.

Burks added that PETRA will come back to the city council for another request for sales tax incentives in the near future.

This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.

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