Mayor Sly James today announced the allocation of $4 million in tax credits to the Kansas City MLB Urban Youth Academy from the Missouri Development Finance Board.
The tax credits were awarded through a statewide competitive application process. These tax credits may be used by corporate or individual donors in Missouri who contribute $5,000 or more to the Academy.
The tax credits will be issued to donors who contribute to the project in accordance with the required procedures. A donor will receive tax credits equal to half of the amount of the donor’s donation. Corporations or individuals interested in using these tax credits, which can be applied in the current tax year or carried forward for up to five years, should contact their tax advisers.
“Mayors across the country cross their fingers in hopes that a project of this magnitude will take shape in their cities,” Mayor James said. “This project touches on each of the Four Es of my agenda: education, employment, enforcement and efficiency. It will increase economic development, improve the lives of our youth, contribute to neighborhood safety, and efficiently leverage public tax dollars with private investment. I couldn’t be more excited about the positive impact this project will have on the youth of our City and the allocation of these tax credits will greatly aid our ability to raise the necessary funds for the second phase of the project.”
Kansas City Royals Sr. Vice President – Baseball Operations and General Manager Dayton Moore added: “Through its unique combination of state of the art youth sports facilities and programs, along with our city’s rich baseball history, the Kansas City MLB Urban Youth Academy will represent one of the premier baseball academies in the country. The Missouri Development Finance Board recognized this and we are appreciative of their tax credit allocation to this very impactful project.”
Carolyn Watley, President of CBIZ Benefits & Insurance Services in Kansas City stated: “These state tax credits encourage the charitable donations necessary to complete this project and it will make our community better and stronger. This is very good news for the Academy and the future generations of Kansas City whose lives will be positively impacted by it.” Watley serves as the chair of the fundraising committee that is rallying financial support of local individuals and corporations interested in investing in the future of the youth of the City.
The Kansas City MLB Urban Youth Academy, developed in collaboration with Major League Baseball and the Kansas City Royals, will be the seventh Urban Youth Baseball Academy in the United States. It will be developed and operated by Kansas City Urban Youth Academy, Inc., a nonprofit organization that will enter into an agreement with the City to construct, maintain, and operate the facility at Parade Park. Subject to completion of the fundraising needed to complete the project as planned, the Academy will include four new state-of-the-art diamonds, an indoor training facility and other improvements to enhance the area bounded by Truman Road, 18th Street, The Paseo and Woodland Avenue.
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