Kearney presents K‑353 redevelopment plan under Chapter 353; public hearing set Oct. 21

Economic Development Director Carolyn Yatsuk and consultant Jim Potter presented the proposed K‑353 redevelopment plan on Oct. 7, describing a boundary of roughly 317 parcels that staff and the consultant concluded meets Missouri's statutory blight criteria under Section 99.805(1).

Jim Potter of Development Initiatives summarized the blight analysis and noted sanitary and safety concerns, deterioration of site improvements, code violations and historic infrastructure needs (damaged sidewalks, aging streets and limited curb coverage). The presentation described the Chapter 353 tool under Missouri law, which allows abatement of real-property tax on new improvements; staff emphasized Kearney's program would not pursue the statute's maximum 25-year, 100% abatement but would limit terms to a tiered approach (10 to 15 years depending on investment level) with PILOT payments to preserve taxing-jurisdiction revenues during the abatement period.

Carolyn Yatsuk outlined parcel demographics within the boundary (317 parcels: 59 commercial, 221 residential, 33 tax-exempt, 2 agricultural and 2 split parcels) and gave examples of qualifying improvements. Staff provided tax-impact examples for residential and commercial scenarios and noted the program is planned with sensitivity to fire and school districts; staff said notices to taxing jurisdictions have been mailed as required. A public hearing on the redevelopment plan is scheduled for Oct. 21; the plan will return to the board for consideration after that hearing.