KANSAS CITY, Mo. — The Tax Increment Financing Commission of Kansas City, Missouri, voted against proposed tax breaks for a luxury hotel development near the Kauffman Center for the Performing Arts downtown.
During the TIF Commission’s meeting Thursday, developers hoping to build an upscale 13-story, 143-room Hyatt hotel — dubbed Hotel Bravo! — had asked for a 75% property tax abatement for 23 years.
The TIF Commission, which only makes recommendations to the KCMO City Council, voted against sanctioning the public subsidies on an 8-3 vote, but it faces an uphill battle for approval given new Mayor Quinton Lucas' stance on such subsidies and the super majority required for passage after the TIF Commission's vote.
The proposal will still go before the City Council within the next 14 to 90 days.
