The Kansas City Tax Increment Financing Commission on Wednesday approved a revised redevelopment agreement that would locate a proposed YMCA in the Lyric Theatre building.
The revision requires the YMCA of Greater Kansas City to sign a lease by the end of 2018 and DTC Community Development Inc., the development affiliate of the Downtown Council, to complete purchase of the building by then.
Sean O’Byrne, with the Downtown Council, said the YMCA’s fundraising toward its $20 million goal is going well and he has no doubts the plan will continue toward locating a major Y facility in the Lyric building.
TIF commissioners also approved an amendment to the Downtown Library TIF Plan that allows a delay in the start of infrastructure improvements at 10th and Main streets to 2017 instead of 2016 and sets 2021 as the completion date instead of 2020.
The site, now owned by the ATA as a bus transfer location, is planned for “decommissioning” when alternative transportation locations are ready. The eventual plan calls for about $1 million in site improvements to convert it to a downtown pocket park.