Revive the East Side Incentives

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There are five main incentives created within the East Side Investment Zone designed to spur development:

 

Financial Analyses Exemption: The normal financial analysis process and cost may be waived for jobs-based projects within the ESIZ that score above 50 points on the AdvanceKC scorecard OR which meet the requirements for the new pilot program authorized by Ordinance 190563 (see Real Property Tax Abatement below).  

Real Property Tax Abatement: On July 18, 2019, the City Council adopted a 2 Year pilot program authorizing the Enhance Enterprise Zone (EEZ) Board to administratively authorize 20 years of 100% real property tax abatement for qualified EEZ commercial development projects, which are also located within designated Opportunity Zones and the ESIZ, without need for further Council approval.  For questions concerning the EEZ program contact Drew Solomon, the Executive Director of the Enhanced Enterprise Zone, at 816-691-2135.

The Reinvestment In Economic Growth Program: Allows certain types of businesses making new investments within the ESIZ to recoup all or a portion of utility taxes and/or employees earnings taxes provided they pay all of their employees at least $15/hour, exclusive of benefits.  For more information about eligibility requirements and benefits of this program, please contact Jamilah Jones, Business Development Officer with the Economic Development Corporation at 816-691-2115.

Blight Studies: The City is currently working in partnership with the EDC to establish a comprehensive blight finding for the ESIZ, which is needed to establish a new tax abatement tool benefitting ESIZ home owners.   For more information on this project and/or abatement programs that can assist existing home owners, please contact Robert Long, Development Services Specialist with the Economic Development Corporation, at 816-691-2104.

Housing Assistance: (NOTE: This Program is Not Yet Funded) Envisioned as an integral component of the City’s Five-Year Housing Plan (Ordinance 190022), this initiative has a goal to create a $10 million fund to help encourage homeownership by re-purposing the inventory of vacant and abandoned houses into new, affordable homes for first-time buyers.  This will be complemented by the City’s commitment to support homeownership education and counseling to further enhance home buying opportunities.  The City also recognizes that some structures have deteriorated beyond their usefulness and must be demolished. These structures become a blighting influence on adjacent property values and the affected neighborhoods generally. The City will target $3 million to help address these problem properties.  For more information about housing assistance for residents within the ESIZ please contact John Wood at 816-513-6562.