[{"_1":2,"_87":-5,"_88":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6106310,"mediaKeyId","2782689-de6ce3730c0ec8b8dac094e6a3395def","parentId",2782689,"title","Raymore council approves first reading to activate Chapter 100 tax abatement for Building 5 at Raymore Commerce Center South","audioSeconds",784,"startMs",1056000,"endMs",1840000,"viewUrl","/Search/View?dp=1&key=2782689-de6ce3730c0ec8b8dac094e6a3395def&start=1056&end=1840","thumbnailUrl","https://assets.pipeline.soar.com/2782689-de6ce3730c0ec8b8dac094e6a3395def/thumbnail_1056000.jpg","articleUrl","/articles/6106310/Raymore-City/Cass-County/Missouri/Raymore-council-approves-first-reading-to-activate-Chapter-100-tax-abatement-for-Building-5-at-Raymore-Commerce-Center-South","mediaUrl","https://secure.pipeline.soar.com/6106310-d5faadc65833d1cbee6a4087b3949d76/orig.mp4?Expires=1771010384&Signature=SNggzOIh9TcgR4KynWdsD60hll5gfgrU3-UTuYf57CS71S-J7gGU2cKDzmdPInaE-A073PDIQonuvmqz44UIWjDNltmv0KVFlwbGiKg611XmRbXLF15tRDOi8cSv4F3edBjrrggCwHmjlG2CV4p2aWMALVJBe4NSGBz0nRMPRs6PjuNLKGfRDfKUXGwla-rEW2UV8HAjr0S29zZhXCT1CiQtZ~953AGE7b8n9ABbLXqZY1pLVCgXmKv0QFfmVePmQEJ3wf8HJweXkaTaLtj~NwUqo~RGLFc6b~EFEgMNf9wg5GIWnnT~u9wMMHrHL4BYhcEDNYChgf0qw~TLMtJBJA__&Key-Pair-Id=KUT5TJCACFTXG","author","City Council of Raymore, MO","date","2025-03-25T11:38:01Z","article","The Raymore City Council on March 24 approved the first reading of an ordinance to issue taxable industrial revenue bonds under a Chapter 100 plan for KCI Raymore Building 5 LLC, a step that will activate a previously approved development agreement and a 20-year real-property tax abatement for Building 5 at the Raymore Commerce Center South.

City staff and bond counsel told the council the Chapter 100 mechanism requires the city to take title to the property, issue industrial revenue bonds and immediately lease the property back to the company; the company then makes rental payments equal to the bonds'debt service, and the company effectively purchases its own bonds in a paper transaction. \"It's actually a paper transaction because the company buys their own bonds,\" Sarah Granath of Gilmore & Bell said during the presentation.

That process, Granath said, is structured to protect the city's interests: the development agreement requires payment and performance bonds, a Phase I environmental study, insurance, and a triple-net lease. Granath also noted events of default that would allow the city to unwind the transaction and return the property to the tax rolls if the developer fails to build as agreed.

The development agreement and plan were originally approved in March 2023. Under the terms described to the council, the abatement for Building 5 will be implemented by issuing a series of bonds for each building or phase constructed; the pilot payment (payment in lieu of taxes) will be calculated per square foot as-built, with staged per-square-foot rates that begin at three cents per square foot for the first five years and rise to 71 cents per square foot in years 16'20. Staff described the Building 5 footprint as an estimated 555,000 square feet; staff said that final abatement amounts will be based on the as-built square footage.

Grant Harrison of VanTrust Real Estate, the developer, told the council the company has begun site regrading and anticipates a fast delivery schedule if the project proceeds: a building shell completed by December 2025 and full occupancy ramping into summer 2026. Granath said taxes on the property would be paid as usual during the construction year, with the abatement period beginning after construction completion (estimated first year of abatement 2026 and running 20 years thereafter).

Council members had no substantive questions during the presentations. Council member Holman moved approval of the first reading of the ordinance; the motion was seconded and carried unanimously, 7-0.

The ordinance before the council tonight authorizes the issuance of bonds and related agreements to activate the tax abatement for Building 5. Final bond issuance and closing will be future steps and would be required to effectuate the abatement and the land transfer described in the development documents.","mediaType","Video","parentTitle","City Council Meeting 3/24/2025","oneSentenceSummary","The Raymore City Council on March 24 approved the first reading of an ordinance to issue taxable industrial revenue bonds under a Chapter 100 plan for KCI Raymore Building 5 LLC, a step that will activate a previously approved development agreement and a 20-year real-property tax abatement for Building 5 at the Raymore Commerce Center South.","taxTitle","Raymore City, Cass County, Missouri","taxId",71738,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6106305,"Raymore council approves consent agenda, ordinances and contracts; curb project awarded to Terry Snelling",580,475000,1055000,"/Search/View?dp=1&key=2782689-de6ce3730c0ec8b8dac094e6a3395def&start=475&end=1055","https://assets.pipeline.soar.com/2782689-de6ce3730c0ec8b8dac094e6a3395def/thumbnail_475000.jpg","/articles/6106305/Raymore-City/Cass-County/Missouri/Raymore-council-approves-consent-agenda-ordinances-and-contracts-curb-project-awarded-to-Terry-Snelling","https://secure.pipeline.soar.com/6106305-791fe4541042db1cf3a9fea7c2d4b706/orig.mp4?Expires=1771010384&Signature=Vm488Y~jOXgq3gaEg11zXKBMLEZgAfUf5OY1npBekwQDfI6BcK9n1fJPYAfJy2R5YqBtTB22XjctJ-5tiD0axjvi2fFgeKuKM7l0YEQuNX8hkxmlIXu1Kyn0Q1BScIAgEfRYbG3XaAJYDv6ZusRfY0WiMy3dDWGas6zANI-IsbpdRsITb745eSVgSmpG0NZTbiXBHH47C5XbO4fFJq4ZrLxKYEIRUBlqMljPla59eCghaWssprjxjN1v34y0CakdfYGZcIQqigkk62KwDy2pKWZ~3BkHzvt3KIEYsNZuL8aR7wz0TWOQSPBkTAICR723L78RqcOntReQrvBSbuoxeg__&Key-Pair-Id=KUT5TJCACFTXG","The Raymore City Council on March 24 approved a consent agenda and a series of ordinances, contracts and administrative updates in unanimous votes (7-0).

Actions taken included approval of meeting minutes and the appointment of Mike Van Aken to the Park Board on the consent agenda. The council approved second readings for multiple ordinances and approved or authorized staff to proceed on a set of routine and project-related items.

Key outcomes (motions and votes at a glance):

- Bill 39 50 (second reading): Ordinance authorizing the city manager to enter into an agreement with CFS Engineers for on-call materials testing services. Motion approved unanimously, 7-0. (Amount not specified in the meeting record.)

- Bill 39 48 (second reading): Ordinance voiding ordinance 20 24-056 and terminating the authorizations provided therein. Motion approved unanimously, 7-0.

- Bill 39 40 (second reading): Ordinance amending the administrative policy manual to combine vacation and sick time into a single paid time off (PTO) category. Motion approved unanimously, 7-0.

- Bill 39 53 (second reading): Ordinance adding two paid holidays to the administrative policy manual (Juneteenth and an additional floating holiday). Motion approved unanimously, 7-0.

- Bill 39 45 (second reading): Ordinance authorizing purchase of the property at 317 North Jackson Street, Raymore, Missouri, 64083, for $115,000. Motion approved unanimously, 7-0.

- Bill 39 51 (second reading): Ordinance authorizing the city manager to enter into a memorandum of understanding with the Raymore Chamber of Commerce. Motion approved unanimously, 7-0.

- Bill 39 52 (second reading): Ordinance vacating a portion of a utility easement located on Lot 304 in Westbrook at Creekmore Tenth Plat (property address 1200 Serenity Court). Motion approved unanimously, 7-0.

- Bill 39 49 (first reading): Ordinance awarding the 2025 curb-replacement project (City Project No. 25469201) to Terry Snelling Construction Inc. in the amount of $928,810 and authorizing the city manager to approve change orders within established budget constraints. The ordinance passed its first reading unanimously, 7-0.

All motions were made, seconded and approved without recorded dissent. Several staff members provided brief reports in advance of votes: Public Works Director Ben Salisbury highlighted ongoing projects (Sunset Lane subgrade work and paving, Owen Goode force main pipe installation, Dean Avenue/190 Fifth Street bridge deck and retaining wall work) and recommended award of the curb contract to Terry Snelling Construction. Parks and Recreation staff noted upcoming community events and program registration deadlines; the Arts Commission received a $1,200 Missouri Arts Council Express Touring Grant for the Power of Perspectives Art Competition; and the City Clerk reported required financial-disclosure filings were on file with the Missouri Ethics Commission.

Council members briefly acknowledged those reports and encouraged public engagement on the April 8 ballot measure for a public safety sales tax and attendance at a candidate forum earlier in the week. No public commenters addressed the council during the public comment period.

All listed ordinance approvals in this meeting were recorded as unanimous, 7-0 motions.","The Raymore City Council unanimously approved a slate of consent and ordinance actions on March 24, including contract awards, personnel appointment, amendments to the administrative policy manual, purchase of 317 N. Jackson Street for $115,000, and the first reading awarding the 2025 curb-replacement contract to Terry Snelling Construction for $ ","actionData","errors"]

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Raymore council approves first reading to activate Chapter 100 tax abatement for Building 5 at Raymore Commerce Center South

Raymore council approves consent agenda, ordinances and contracts; curb project awarded to Terry Snelling