KANSAS CITY, Mo. — The Mission City Council could vote as soon as Monday night to terminate the development agreement with the developers of the failed Mission Gateway project.
In May, the city issued a 60-day deadline to New York-based Aryeh Realty, the developers of the project, to pay back $448,000 in real estate taxes and assessments.
That deadline came and went Saturday, July 15, with no updates from the developer.
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Early Monday morning, Mission Mayor Sollie Flora called a special meeting of the city council for Monday night to consider next steps.
“With the expiration of the cure period, it is now appropriate that the Council review and discuss all alternatives to the City under the terms of the development agreement,” Flora said in a statement to KSHB 41 reporter Alyssa Jackson.
There was hope the project had new life when the developers and the city reached a new agreement in January.
That optimism dimmed in May when news surfaced that Metropolitan Commercial Bank had taken action to foreclose on the mortgage on the property.
The city council is set to meet at 5:30 p.m. Monday at City Hall.
KSHB 41 reporter Alyssa Jackson contributed to this story.
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