Troost Avenue has long been an important street in Kansas City, MO. As the former “red line” dividing the city between White and Black residents, it has now become one of the best examples of how EDCKC, the City of Kansas City, Missouri, residents and developers have invested together to revitalize the corridor.
Stretching from downtown to South Kansas City, Troost encompasses historic neighborhoods, businesses, universities, and a host of important non-profit organizations. A quick video released today by the Economic Development Corporation of Kansas City Missouri highlights how different economic development tools and incentives can be layered together to spur growth and create economic progress.
“LCRA, PIEA, TIF — sometimes our programs can feel like an alphabet soup,” says Ms. T’Risa McCord, Interim President and CEO of EDCKC. “We wanted to release this video to help the public understand that these tools of economic development can make a difference in the lives of people in our city.”
In the past few years, more than 20 projects have taken advantage of the benefits of these programs. Here are just a few examples:
- LCRA (Land Clearance Redevelopment Authority): has enabled homeowners to do renovations without the fear of rising property taxes.
- PIEA (Planned Industrial Expansion Authority) has enabled developers to afford making investments in developments that, on the surface, appeared to have high investment risk.
- LoanUP, EDCKC’s Loan Corporation, has provided loans to businesses to enable expansion and growth.
- Chapter 353 (A tool to remedy blight): helped to attract the first national branded hotel to the corridor.
EDCKC has business development officers ready to explain various development tools, and economic development programs, and walk you through the process of putting them to work for you.