OTHERAPPROVED

City of Excelsior Springs Council Meeting Agenda May 4 2026

City grants 353 abatement for 409 E Broadway rehab

approximately $64,000.00 (project cost; tax abatement up to this amount)City of Excelsior Springs cityJAKE OSBORN ENTERPRISE LLCMay 4, 2026

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Description

The City of Excelsior Springs approved Ordinance No. 26-05-01 and a 353 Development Agreement with Jake Osborn Enterprise, LLC for rehabilitation of 409 East Broadway Avenue. The approximately $64,000 project will receive up to ten years of property tax abatement, or until cumulative abatement equals the project cost, with an additional three years at 50% assessment.

Contract Details

Contract Amount

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

Vendor

JAKE OSBORN ENTERPRISE LLC

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

Chapter 353 Level A incentive provides up to 10 years of 100% abatement on improvements or until cumulative abatement reaches $64,000, followed by 3 years at 50% assessment; abatement terminates early if eligible project costs are fully offset or upon breach or withdrawal under the agreement.

Issuing Agency