The Industrial Development Authority (IDA) of the City of Kansas City, Missouri has the power to issue industrial development bonds (IDBs) to facilitate the financing of qualified business projects within the limits of Kansas City, Missouri. Project assistance may include the purchase, construction, extension and improvements of office buildings, hospitals, retirement facilities, warehouses, distribution facilities and industrial plants including the real estate, buildings and fixtures. The interest on the revenue bonds may be tax-exempt, which results in a lower borrowing cost.
Recent projects/bonds approved by the IDA Board:
- Briarcliff West, $15,150,000
- Colonnades at Beacon Hill, $4,690,000
- Ward Parking Center, $28,778,000
To learn more about the IDA and if your project qualifies for assistance, please contact Heather Brown, executive director.
The powers of the Industrial Development Authority are exercised by its board of directors who are citizens of Kansas City, Missouri and appointed by the mayor.
- Frederick H. Riesmeyer II, chair
- Aaron Berger
- Jesse Crupper
- Elizabeth Fast
- Ricardo Lopez
- Jon Otto
Additional information on the various types of industrial revenue bonds may be found by clicking here.
TEFRA Hearing (Courthouse Apartments)
NOTICE OF PUBLIC HEARING
The Industrial Development Authority of the City of Kansas City, Missouri (the “Authority”) will conduct a public hearing commencing at 2:00 p.m. on Tuesday, February 25, 2020, in the conference room at 300 Wyandotte Street, Suite 400, Kansas City, Missouri 64105, regarding the proposed issuance by the Authority of its exempt facility housing revenue bonds in the maximum principal amount of $5,400,000 to refund the Missouri Housing Development Commission’s Multifamily Housing Revenue Bonds 2009 Series 1 (Courthouse Apartments Project). The proceeds of such prior bonds were applied to finance the conversion of the old Federal Courthouse located at 811 Grand Boulevard, Kansas City, Jackson County, Missouri, into a 176-unit apartment project, including related and subordinate facilities, now known as Courthouse Apartments. The facility was initially, and is currently, owned by Courthouse Apartments, LLC, a Missouri limited liability company.
The hearing will be open to the public. All interested persons may attend the hearing and will have an opportunity to express their views with respect to the above mentioned bond issue. Written comments with respect to the bond issue may also be submitted to the undersigned prior to the hearing. Additional information regarding the project and the bond issue may be obtained in advance of the hearing from the undersigned.
Dated this 7th day of February, 2020.