OTHERAPPROVED

City of Excelsior Springs Council Meeting Agenda May 4 2026

353 development agreement executed with property owner

approximately $64,000.00 (project cost; tax abatement up to this amount)City of Excelsior Springs cityOSBORN, JAKEMay 4, 2026

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Description

Excelsior Springs executed a 353 Development Agreement with property owner Jake Osborn for rehabilitation of 409 East Broadway Avenue. The agreement supports approximately $64,000 in improvements with up to ten years of property tax abatement, plus three years at 50% assessment, subject to Chapter 353 requirements.

Contract Details

Contract Amount

approximately $64,000.00 (project cost; tax abatement up to this amount)

Vendor

OSBORN, JAKE

Agency

City of Excelsior Springs city, MO

Contract Type

OTHER

Document Date

May 4, 2026

Contract Term

Up to ten (10) years of Chapter 353 tax abatement or until cumulative abatement equals $64,000.00, plus up to three (3) additional years at 50% assessment

Renewal Date

2039-12-31

Renewal Info

Tax abatement under the agreement runs up to 10 years or until cumulative abatement equals $64,000, then transitions to three years at 50% assessment; abatement may terminate early upon breach or if the owner opts out by repaying foregone taxes after completion.

Issuing Agency