Tax Credits Jump-Start Children’s Campus of Kansas City

Using an innovative funding tool, Greater Kansas City LISC recently provided $14.1 million in New Markets Tax Credits to the Children’s Campus of Kansas City (CCKC) enabling the completion of the project.  “LISC helped make our dream for young children a reality,” said Martha Staker, CCKC board member and president of Project EAGLE, one of the Campus tenants.

Without the assistance of LISC in securing the tax credits, the $16 million facility would not have met its financial goal, acknowledges Staker. Now because of LISC’s support, CCKC will open its doors in 2010 offering comprehensive child development and family support services. It will be the first major center for young children built in Wyandotte County in decades.

The Children's Campus of Kansas City (CCKC) is located in Downtown Kansas    City, Kan., a NeighborhoodsNOW target area.

Administered by the Community Development Financial Institutions Fund, New Markets Tax Credits offer taxpayers a credit against federal income taxes in return for equity investments in designated community development entities.

The tax credits not only infused $2.2 million into the project, but they attracted new investment. “Within days of the announce-ment, we received three additional donations exceeding $105,000,” added Staker.

The Children's Campus was a priority project identified in the NeighborhoodsNOW Quality of Life Plan developed by Downtown Kansas City, Kan. stakeholders to revitalize the area; and is estimated to provide 210 jobs, which is an economic boost to downtown Kansas City, Kan.

“As an important component of NeighborhoodsNOW, the Children’s Campus will improve access to quality education and health care for families in surrounding neighborhoods, which are goals of Greater Kansas City LISC and our NeighborhoodsNOW initiative,” said Porter.

The New Markets Tax Credits for CCKC originated from the Local Initiatives Support Corporation headquartered in New York.  

“Since the inception of the New Markets Tax Credit program, LISC has received nationally $623 million in tax credit awards, and we are hoping to identify additional potential projects in Kansas City,” said Porter.

NeighborhoodsNOW - Stimulating Economic Activity

and Improving Access to Quality Education Services