Port KC, the city's port authority, approved the first of three required votes on August 24, 2026 for up to $1.49 billion in revenue bonds and an estimated $149 million property tax break (PILOT structure) over 30 years for the redevelopment of the Country Club Plaza. Gillon Property Group is contractually responsible for repayment of the bonds; Port KC has stated that the city and its taxing jurisdictions are not on the hook and will not lose revenue. Kansas City Public Schools (KCPS) filed a formal letter of disagreement with the deal. Two additional Port KC board votes remain before the financing package is final.
| Source | Amount | Mechanism | Status |
|---|---|---|---|
| Port KC revenue bondsKCTV, The Beacon: Kansas City - Port KC Board of Commissioners vote, August 24, 2026; first of three required votes | Up to $1.49B ⚠ First of three votes only; not yet final |
Port authority revenue bonds (developer repayment) | Approved (1 of 3 votes) |
| Property tax abatement (PILOT)The Beacon: Kansas City - estimated $149M property tax break over 30 years, beginning 2027; PILOT structure | ~$149M over 30 yrs ⚠ Figure needs confirmation against ordinance text |
Payment in lieu of taxes (PILOT) | Proposed (pending final votes) |
Port KC states that the city and taxing jurisdictions will not lose revenue under this structure, and that Gillon Property Group is contractually responsible for bond repayment. KCPS has filed a formal objection. The $149M PILOT figure and whether it is present-value or nominal has not been confirmed against the underlying ordinance text.
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