Oct. 19, 2019
The Lee’s Summit City Council has approved amendments to the Chapter 100 Industrial Development Project agreement for the Village at View High multi-family housing project currently under construction. The amendments will extend the PILOT (Payment In Lieu Of Tax) schedule by one year and allow additional bond capacity of $6.5 million.
City Manager Steve Arbo emphasized that the changes are simply to allow the developer, Meridian View High, LLC, to seek additional financing in response to increased costs and project delays. The additional bond capacity will not result in added costs to the city’s taxing jurisdictions.
“We’re not adding any more costs to the taxing jurisdictions,” Arbo said. “Same PILOT, same number of years. They’re asking for us to acknowledge that their costs have been higher, so they can do some financing on their side.”
The Village at View High project includes a 312-unit residential complex being built at View High Drive and Third Street. It was initially approved by the city council in 2017 and has suffered many delays.
There were no comments from the public, either in support of or in opposition to the amendments, during the council’s public hearing. While some councilmembers did voice some concerns about the changes and the status of the project, they ultimately voted unanimously in favor of the amendment.
As Councilmember Diane Forte said, “I’m glad it’s going to get finished, I know we all are.”
All councilmembers were present for the Oct. 15 meeting.
Dave MinshallOctober 24, 2019 - 5:53 pm
Seems like he bought the right Councilmembers. I like how all this money and especially the 6.5 million just appears out of thin air. I guess we really are that stupid