Council approves Chapter 100 bonds for VanTrust Raymore Building 4; councilors press for road fixes

Raymore City Council voted unanimously Sept. 8 to authorize taxable industrial revenue bonds and related agreements for Raymore Commerce Center South Building 4 under a Chapter 100 plan previously approved in 2023. City attorney/staff member Lee and bond counsel Sarah Granath of Gilmore & Bell told the council the issuance would cover about 38.4 acres and that the project contemplates roughly $40 million in taxable bonds. Granath said the tax abatement on real property would run 20 years, and that the ordinance carries forward the performance schedule established in the 2023 development agreement. Grant Harrison of VanTrust Real Estate, who addressed the council, said the project will include a speculative warehouse of about 577,500 square feet and noted Building 5 has a tenant identified as Church & Dwight. Harrison said VanTrust expects to break ground on Building 4 by early October, with delivery in the next summer if schedules hold. Council members asked questions about local traffic and site work. Council member Baker and council member Mills raised concerns about a nearby stretch of roadway (referred to in the packet as South Dean Avenue / 190 Fifth) and urged a faster timeline for repairs; VanTrust and staff said they would coordinate with the Missouri Department of Transportation and expected a “hard date” from stakeholders soon. Staff told council the personal property tax exemption was not part of the request for the developer-built shell; personal property abatement would be evaluated separately when tenants request it. Council member Holman moved to approve the ordinance authorizing the Chapter 100 bond issuance and related agreements; Barber seconded and the motion passed unanimously.