July 27, 2015

From Law360

The city council of Kansas City, Missouri, approved several economic development incentives Thursday that will be used to finance a $302.5 million, 800-room downtown Hyatt hotel and convention center.

The council approved the construction area for the Kansas City Convention Center Headquarters Hotel, calling it a “blighted and insanitary” area that needs redevelopment, and greenlighted the city's $35 million contribution to the project as well as tax increment financing incentives as the Tax Increment Financing Commission of Kansas City had recommended, according to docket filings.

The city manager also has been authorized to enter into a super TIF financing agreement to fund the project, the filings said.

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Polsinelli's Roxsen Koch is pleased to provide legal counsel on this project in a collaborative effort negotiating the public/private partners in economic development incentives. Roxsen is a deal maker in public-private partnerships and has more than 20 years of experience in real estate development and public finance.