June 11, 2018·Ranson Financial·1 min read

The Overland Park City Council on Monday voted to approve almost $6 million in incentives for a mixed-use project designed to replace two dilapidated hotels at a key intersection on Shawnee Mission Parkway.

Council members voted unanimously to adopt a redevelopment plan for Metcalf Crossing, proposed on 5 acres at the northwest corner of Shawnee Mission Parkway and Metcalf Avenue.

The plan includes almost $3 million in development reimbursement through tax increment financing, or TIF, and $3 million in funds raised through a 1 percent community improvement district sales tax levied on the site. The TIF would last 20 years while the CID would last 22 years.

Source: KC Breaking News, Sports & Crime |Read the full story ↗

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