Facts & Sources
All claims are sourced to primary documents and verified reporting
Key Facts
Total subsidy package
Port KC PILOT ($309M) + TIF EATS ($211M)
Source: Port KC Board Packet, TIF Commission Agenda
Developer purchase price (June 2024)
75% discount from $660M (2016) sale price
Source: KC Star, verified purchase records
KCPS revenue loss over 30 years
61% of property tax goes to schools ($4.96 of $7.89 levy)
Source: Jackson County tax levy rates, Port KC PILOT structure
Duration of property tax exemption
19 phases with rolling 30-year clocks; last phase ends 2065
Source: Port KC Board Packet, phasing schedule
PILOT increase rate (every 2 years)
Far below 3% annual inflation = 51% real value by Year 30
Source: Port KC Board Packet, PILOT escalator terms
Plaza Value Collapse
Assessed value dropped 38% — and they still want $520M in subsidies
The Plaza's Disappearing Value
Bought for $660M in 2016, sold for $176M in 2024 — now asking for $520M in subsidies
Deal Timeline
Taubman/Macerich JV purchases Plaza for $660M
95% leased, $31M NOI (4.7% cap rate)
State Tax Commission reduces assessment by 38%
$291.8M → $179.6M assessed value
Gillon Property Group purchases for $175.6M
75% discount from 2016 sale price
First Port KC meeting - vote doesn't happen
Public pressure leads to delay
Scheduled vote pulled from agenda
Moved to December 22
163 community members attend; vote tabled
Dr. Collier testifies directly to Port KC board
Next Port KC vote expected January 2026
Date to be announced
Source Documents
Port KC Board Packet - December 22, 2025
Complete board materials including PILOT terms and bond structure
TIF Commission Agenda - November 25, 2025
Special meeting agenda with TIF plan exhibits
Port KC Board Agenda - December 15, 2025
Originally scheduled vote (pulled from agenda)
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