Streetcar ordinances, taxing district given the green light
Downtown Kansas City is one step closer to having a streetcar after a pair of achievements earlier this week. The City Council approved two ordinances that will finance construction of the streetcar line, one of which includes a $3.6 million agreement with Omaha-based HDR Inc. to create the final design of the streetcar?s main components. The second ordinance gives the city the authority to sell $30 million in public bonds, which will also help finance the streetcar?s construction.
In a mail-in election, voters approved the creation of a special taxing district that includes a $0.01 sales tax and several property reassessments. The tax increase was authorized for 25 years and includes an area that encompasses the River Market, the Central Business District, the Crossroads and Crown Center.
Streetcar construction is expected to begin in June 2013. The final design is scheduled to be completed at the end of next year, with the streetcar expected to be running by mid-2015. The initial route will primarily run along Main Street and connect Union Station to the River Market, although Councilman Jim Glover says he?s committed to expanding the streetcar throughout the 4th District, including UMKC, the west Bottoms and along Independence Avenue.
Menards puts the brakes on Independence store opening
Image via Menards
Citing concerns about a worsening national economy, hardware retailer Menards has decided to put its Independence project on hold. Original plans called for the construction of a new store near Bass Pro Shops, along with additional stores in Overland Park and the Northland.
Independence isn?t the only city affected; Menards has also halted expansion plans in other cities, too. As a result, the Independence City Council has delayed its final vote on the approval of Menards? construction plans. The city zoning commission had already approved plans to build a store on a 50-acre tract east of the Independence Events Center.
Logoplaste signs 200,000-square-foot lease
Metro Park. Image via ThinkKC
Portugal-based plastic packaging manufacturing company Logoplaste has signed a lease for 200,000 square feet in the Metro Park complex at 6920 NE Executive Drive in Kansas City. The new location will introduce nearly 80 long-term jobs to the area.
The 396,000-square-foot class A industrial building will house the company?s manufacturing operations. The facility was listed at $3.85 per square foot.
Whitney Kerr Jr. of Cassidy Turley represented the landlord in the transaction. Daniel Jensen of Kessinger/Hunter & Co. LC and Britt Casey of Cushman & Wakefield Inc. represented the tenant.
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