The Port Authority of Kansas City board of commissioners on Monday approved a tax exemption for a $250 million project that NorthPoint Development plans to carry out.
Monday’s vote lets NorthPoint start acquiring property at the 240-acre Northland Park, an industrial development at Missouri 210 and North Kimball Road.
Northland Park is currently owned by Suburban Land Reserve, a real estate affiliate of the Church of Jesus Christ of Latter-day Saints, commonly referred to as the Mormon church.
NorthPoint plans to build up to 10 new industrial or warehouse buildings at Northland Park. Musician’s Friend and FedEx are among companies that already have facilities at Northland Park.
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Brent Miles, vice president of economic development at NorthPoint, said his firm has a proposal for a potential user at Northland Park, one that would occupy a newly built 900,000-square-foot building that could employ 1,000 workers. It’s a blind proposal, meaning Miles could not identify the user or its industry.
Miles added that preparing ground for development at Northland Park requires about 3 million cubic yards of dirt, thus the need for a PortKC tax exemption.
Under NorthPoint’s arrangement with PortKC, affected taxing jurisdictions will continue to receive the amount of property taxes that Northland Park generates currently. The arrangement has support from the North Kansas City School District.
Jim Hampton, executive director of the Clay County Economic Development Council, welcomed NorthPoint’s involvement in Northland Park. Hampton said Clay County loses out on companies looking to occupy industrial space because it has little in the way of new inventory to offer.
In other PortKC news Monday, Port KC awaits Gov. Jay Nixon’s decision on Senate Bill 861, which would allow port authorities in Missouri to create advanced industrial manufacturing zones. PortKC is gathering letters of support to encourage Nixon to approve the measure, which was sent to the governor’s desk May 25.
Scott Holste, a spokesman for Nixon, said the governor’s office continues to review SB 861.
An advanced industrial manufacturing zone, under the Senate bill, would create a fund that collects 50 percent of state withholding taxes from new jobs within a zone. Those funds can be used to pay expenses associated with development and redevelopment within these zones.