KC Reporter

The City of Kansas has announced funding awards totaling $2,355,939 to drive economic growth within the Central City area. Acting upon the recommendation of the Central City Economic Development Tax Board, the City Council approved additional funding to support ongoing economic development projects.

"This strategic decision, made in response to the dynamic needs of our developers, will help the City navigate the challenges of increased construction labor and material costs," stated an unnamed City official.

The approved funding, sourced from Central City Economic Development (CCED) funds, will be allocated to several crucial projects strategically located within the designated area. The projects aim to revitalize and enhance economic opportunities, ensuring a stable and prosperous future for the community.

Among the designated projects are the Ivanhoe Neighborhood Council, Prospect Summit Duplexes, Palestine Economic Development Corporation, Zhou B Art Center, Heroes Home Gate, and Monarque Advisory Development, as detailed by an unnamed City official.

The Central City Economic Development initiative has been vital in driving economic progress in the region since its inception. "In 2017, Kansas City voters approved the 1/8 percent Central City Economic Development (CCED) sales tax which generates approximately $10 million annually," highlighted an unnamed City official. The program has already invested over $53 million in 35 projects within the Central City area, showcasing its significant impact.

CCED's investments reflect the City of Kansas City's commitment to fostering a vibrant and prosperous economic landscape. The City remains dedicated to ensuring sustainable growth and creating opportunities for its residents, as emphasized by an unnamed City official.

For more information on the program, individuals are encouraged to contact (816) 513-3025 or CHR@kcmo.org.