Kansas City Business Journal Quotes Jerry Riffel on South Loop Link's Bid for $15M in Missouri State's Tax Credit for Contribution Program
The Kansas City Business Journal quoted senior counsel Jerry Riffel recently on the South Loop Link Project's application to utilize what Riffel has described as the state's most powerful economic tool to help secure enough financing for a potential $200 million park atop Interstate 670 in downtown Kansas City.
The South Loop Link's team seeks to pursue $15 million in state tax credits to support the 4.6-acre park which will cap Interstate 670 between Wyandotte Street and Grand Boulevard. The tax credits could spur anywhere from $30-50 million in private donations, including from business community members. The city expects private donations contingent on the tax credits to make the project possible, according to the application ordinance.
"The city has used this tool for a long, long time," Riffel said. "More successfully than any city in Missouri to rebuild its city."
The South Loop Link team shared initial design ideas for the park at a community event on April 11.
Read the full article here [SUBSCRIPTION REQUIRED]: South Loop Link project could hit $135M in financing by January with state tax credits, supporters say.