Board Revises Tax Breaks for Kansas City Projects
A board today approved an extra $4 million in tax credits for the National Collegiate Basketball Hall of Fame at a new downtown arena. That raises the state's total tax incentives to $6 million -- more than 1/4 of the project's cost. The Missouri Development Finance Board also granted more time for organizers of a new performing arts center to receive state tax credits.
Missouri approved $25 million in tax breaks for the project two years ago. Those credits were supposed to be issued by this year. But the new plan extends the deadline to 2007. The total cost of the performing arts center now is projected at $326 million.