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Raymore approves Chapter 100 incentives for 'Iconic' Timber Trails multifamily and retail phases amid debate over tax abatements, 5-2
Summary
Council approved two Chapter 100 bond measures for the Timber Trails / Iconic development — a $56.6 million bond for ~300 apartments and a $3.675 million bond for retail — after debate over pilot structure, precedent for retail abatements and net tax impact; both measures passed 5-2.
The Raymore City Council voted in two separate first-reading actions Dec. 22 to authorize Chapter 100 industrial development revenue bonds tied to the Timber Trails development, now marketed as Iconic. The votes were 5–2 for the multifamily phase and 5–2 for the retail phase.
Staff and outside counsel explained that the Chapter 100 bond approvals implement the tax-abatement schedule the council approved with the development plan in 2023. For the multifamily (residential) phase the bond amount presented was $56,625,000 for approximately 300 Class A apartment units on about 17 acres at the northwest corner of Dean and Johnston. Under the documents before council, the abatement would begin no later than 2028 and extend for up to 25 years; the pilot is calculated as a…
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