The city of Overland Park could terminate its tax incentive agreement with the developers of the long-troubled Market Lofts project downtown. The city’s Finance, Administration and Economic Development Committee on Wednesday unanimously agreed to end the tax increment financing deal after the developer sold the project without the City Council’s approval — putting it in default of the agreement. The council will make the final decision once the required documents are prepared, spokesman Sean Reilly said. The Market Lofts multifamily development, at the northwest corner of 80th and Marty streets, was among the first mixed-use apartment complexes to be planned in the heart of downtown, which is now home to several projects of the sort.
Source: Joco 913 News
