Kansas City would contribute $7 million to support the University of Missouri-Kansas City’s $96 million downtown music and dance conservatory under a resolution introduced Thursday.
The resolution, which the City Council will consider next week, calls for the city to contribute $7 million for the land and public infrastructure to support the new conservatory. It would be built on ground bounded by 17th and 18th streets and by Broadway and Central Avenue, just south of the Kauffman Center for the Performing Arts.
City Manager Troy Schulte said the city funding is the last piece of fundraising that UMKC had to do to raise its $48 million share toward the total project cost. That’s what is needed to secure $48 million in a state matching-fund program.
The city would buy the land from an anonymous donor, who would reinvest all those proceeds into the conservatory project.
Schulte said the city land purchase and contribution to the UMKC project is contingent on the project getting state funds. The city funds should be available, he said, after the city pays off the debt on several downtown garages in a few years, thus freeing up that money for other uses.
He said he believes the council will support this investment because it’s for a facility that will attract 675 talented students and faculty annually to downtown, making for an even more vibrant and popular downtown neighborhood.
“I think it’s a great deal,” Schulte said. “Seven million dollars leverages $96 million.”
UMKC spokesman John Martellaro declined to comment Thursday on the city’s contribution.
The council’s Planning, Zoning & Economic Development Committee is expected to debate the resolution at its meeting Wednesday.