Need public incentives expertise? We can help.
Based on strong relationships Copaken Brooks has forged with local municipal leaders, city staff and neighborhood stakeholders, we have been successful in structuring and completing a number of public/private partnerships in the Kansas City metropolitan area. Some examples of various types of Public Incentives that Copaken Brooks has arranged are:
Plaza Colonnade – a 320,000 sf joint venture with Highwoods Properties
One recent example is the Plaza Colonnade
, where the Plaza Branch of the Kansas City Public Library received a new 50,000 square foot branch building and the developer obtained rights to construct a 270,000 square foot office building. Additionally, Tax Increment Financing and Neighborhood Improvement Districts were established that contributed $14 million in public funding to support the project.
Oak Park Mall – Nordstrom Addition – a 1,500,000 sf regional mall
In Overland Park, Copaken Brooks successfully attracted the only Nordstrom
department store to the Kansas City metropolitan area. To accomplish this, the first Sales Tax Improvement District in Overland Park was created in conjunction with the City of Overland Park. Over $16 million of bond proceeds were provided via this structure to finance the structured parking and road improvements. It is this type of innovative, forward thinking that distinguishes Copaken Brooks from other service providers.
1201 Walnut Building – a 480,000 sf Central Business District Office Tower
The 1201 Walnut Building
was built using two, layered incentives in accordance with the Missouri Revised Statutes: Chapter 99 and Chapter 353. A portion of the block was already receiving a Chapter 353 Real Estate Tax Abatement, but in addition, CB was able to layer an additional Chapter 99 Abatement on top of the existing Chapter 353 Abatement to enhance its tax benefits while still maintaining longer term benefits of the original Chapter 353 Abatement.
Service Management Group – Kirkwood Building – a 54,000 sf historic renovation
Copaken Brooks is currently serving as the owner’s representative, developer and construction manager for the historic renovation and expansion of the Kirkwood Building
in the downtown Crossroad’s District of Kansas City, Missouri. Copaken Brooks helped arrange the complex financing structure utilizing federal and state historic tax credits, New Market tax credits and traditional financing sources. The mixed-use Service Management Group headquarters project is scheduled to be the first LEED Gold Certified renovation project in Kansas City and the second LEED Gold corporate headquarters in the city.