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Chapter 100 Revenue Bonds
The City of Blue Springs has the ability to issue tax-exempt revenue
bonds that can be used to construct or purchase buildings, machinery,
and equipment. The use of these bonds also provides the ability to abate
a percentage of real and personal property tax. These bonds also provide
a sales tax exemption for eligible purchases.
Investment Tax Credits
The Company's investment and creation of new employment qualifies under the
State of Missouri's Investment Tax Credit Act. These additional credits will
be applied to any increase in either employment or capital investment. When
applied towards an already low corporate income tax rate, the company can realize
the potential for additional savings over the existing tax burden.
353 Redevelopment Corporation
The City of Blue Springs has adopted an incentive policy, which allows for the
use of 353 Redevelopment Corporations to attract and support location. This
flexible development tool allows for 100% tax abatement for up to 10 years.
STATE PROGRAMS:
Tax Increment Financing
The purpose of the Tax Increment Financing (TIF) is to stimulate redevelopment
of projects by diverting property tax revenues that result from improvements to eligible
redevelopment areas.
Neighborhood Preservation Act
The Neighborhood Preservation Act provides an incentive to rehabilitate
owner-occupied homes. A tax credit will be given to a homeowner or developer
that constructs a new home that will be owner-occupied.
Historic Preservation Tax Credit Program
The program provides state tax credits for 25 percent of eligible costs and expenses
of the rehabilitation of approved historic structures - commercial and residential - incurred after January 1, 1998.
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