Bannister Mall - Most popular for September 2007
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The Wizards and Lane4 presented their plan for Bannister Mall yesterday to the Kansas City Tax
Increment Financing Commission. The committee, though, has put off making a decision on the plan
until their meeting in October.
The news, though, is that there are 2 other plans out there for the Bannister Mall site. The first
is from Lakepointe Development LLC.
More information about the possible development at Bannister Mall has come out today. Included in
the plan, are plans to build the Wizards soccer specific stadium, and 12 tournament quality youth
fields.
The project will cost about $943 million, with hopes that $267 million of that will come from TIFs.
The Wizards owners are planning to contribute about half of the $140 million that will be needed
for the building of the soccer stadium, which will be owned by the city, and leased back to the
team.
Tonight, Mayor Mark Funkhouser and the City Council approved the new TIF policy for the Kansas City
area.
While the new policy leans towards helping small businesses, there are parts that look like they
will benefit the Wizards in their push to get TIF help in renovating the Bannister Mall area. The
new TIF policy is set to also help the cities blighted and distressed areas.
