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Downtown Economic Stimulus Authority
What is the Downtown Economic Stimulus Authority?
The Downtown Economic Stimulus Authority of Kansas City, Missouri (DESA of KCMO) is a statutory agency whose powers have been delegated to them by the City of Kansas City through the passage of Ordinance No. 030925 on August 28, 2003. DESA will review projects wishing to use the MODESA incentive and then make a formal recommendation to City Council and the Missouri Development Finance Board.
The Missouri Downtown and Rural Economic Stimulus Act (MODESA), signed by Governor Holden into law on July 7, 2003, provided for the creation of the Downtown Economic Stimulus Authority.
MODESA provides new state revenue to be redirected for “major initiative” projects to revitalize urban cores of cities and towns throughout Missouri and provide an economic stimulus for Missouri economy.
What can it do?
The Downtown Economic Stimulus Authority (DESA) of Kansas City, Missouri can:
- Own property and transfer property
- Borrow money and issue obligations
- Renovate, own, operate and construct public improvements and parking garages
The Authority is compromised of thirteen commissioners.
Regularly scheduled meetings are the first Thursday of the Second month in each quarter.
- Spotlight on Ed Ford, City Councilman and EDC Board MemberBy EDCKC Staff on May 16, 2013