In a release Monday, Kansas City-based Andrews McMeel said it has retained McCownGordon Construction and Helix Architecture + Design Inc.. to complete design work and construction in the building, 1130 Walnut St. Andrews McMeel said it expects to occupy the building in the fall of 2008, in time to celebrate the building's centennial.
On Oct. 11, the Kansas City Council unanimously approved tax increment financing for the project. TIF will cover a quarter of the newspaper content provider's $19 million budget with public money. The agreement includes clawbacks requiring the company to return earnings taxes to the city if the company falls short of projected employment. AMU also agreed to a $4.8 million limit on its public reimbursement.
To gain support from the Kansas City, Mo., School District, which will give up all new property taxes generated by the project for 23 years, AMU will start an internship program for students and make payments to the district. Details of the pact are secret.
Mayor Mark Funkhouser said at the time that the financing plan complied with improved accountability for incentives he had sought in a new policy the City Council passed in August. AMU's TIF request was the first of its kind to reach the council under the policy.
AMU also plans to lease adjacent space in Town Pavilion. The company expects to move 200 employees from leased space at 4520 Main St., near the Country Club Plaza, in the spring of 2008.
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source: bizjournals.com
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