Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Lee's Summit advances Midstates expansion; council moves Chapter 100 incentive ordinance to second reading
Summary
Lee's Summit City Council moved to second reading an ordinance authorizing Chapter 100 incentives and up to $79.65 million in industrial development bonds for Midstates Distributing LLC's expansion, after staff outlined a package that staff said would reduce developer costs by roughly $4.8 million and the company committed to retaining 165 jobs and adding about 90 more.
The Lee's Summit City Council on Feb. 2 advanced to second reading a plan to provide Chapter 100 incentives for Midstates Distributing LLC to expand its distribution facility at 420 Southeast Thompson Drive.
City economic-development staff entered exhibits into the record and laid out the financial terms: a 100% sales-tax exemption on construction materials during the build, a 75% abatement on the incremental real-property value for 10 years, and a 50% personal-property abatement for three equipment-installment purchases (each with five years of abatement). Staff summarized the developer benefit as roughly $4.8 million on a project the presentation described as close to $80 million. "There's 1 tool that's being requested for this incentive and…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
