Archive for Tax Abatement

Progress in Edwardsville, Kansas Industrial Park

Jones Development Company and Van Trust Real Estate, LLC are working together to build a new industrial warehouse in the Woodend Industrial Park in Edwardsville, Kansas. Thomson Walker assisted the parties in securing a 10 year property tax abatement from the City of Edwardsville, Kansas. For more information about the project, see the Kansas City Business Journal article, “VanTrust, Jones Development Make Spec Splash.”

Burlington Coat Factory Commences Construction in Independence, Missouri

Thomson Walker client, Cinema East, has a new tenant with construction underway in Independence, Missouri. See the full story by the Kansas City Business Journal: Burlington Coat Factory Store Construction Underway at site of Independence’s Blue Ridge Cinema.

Independence, Missouri Developer Seeks Incentives While Raytown School District Protests

IAS Partners, LLC has requested assistance in the form of incentives from the City of Independence, Missouri, with the help of Thomson Walker, LLC. The Developer seeks to rehabilitate the former Blue Ridge Cinema property by adding retail users, including Burlington Coat Factory.

Despite protests by the Raytown School District, the Independence City Counsel approved the Developer’s request for a Tax Increment Financing Amendment.

For background information about the development and incentive history, see “Raytown School District takes hard line on Independence TIF request.”

Tax Abatement Entices Xpedx to move to Edwardsville, Kansas

The City Council of the City of Edwardsville, Kansas has approved the issuance of internal revenue bonds to incent Xpedx (a unit of International Paper) to move to a new site in Edwardsville.   The internal revenue bonds would allow for a 10 year, 60% real property tax abatement on the site.  As described in the Kansas City Business Journal, Xpedx currently has a distribution facility with approximately 180 employees in Olathe, Kansas.  Thomson Walker is representing the property owner in the transaction and assisted with securing the internal revenue bonds for Xpedx.