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BMA Tower Owners Seek $21-Mil Tax Package

KANSAS CITY-Business Men's Assurance Co. of America, the owner of the BMA Tower, says improvements are necessary to attract new tenants. The 38-year-old building would be only 50% occupied by this time next year, BMA says.

By Judie Burkhalter | Updated on March 23, 2001

KANSAS CITY-Business Men’s Assurance Co. of America, the owner of the BMA Tower on 31st Street in Midtown, has asked city officals for nearly $21 million in tax breaks over the next 23 years to help pay for repairs, improvements and asbestos removal. The BMA Tower has lost the leases of a couple of substantial tenants recently, when Butler Manufacturing and MetLife Inc. decided to move.

The request was made to the Tax Increment Financing Commission. BMA owners say the tax breaks are necessary because the 38-year-old building would be only 50% occupied by this time next year.

The decisions by Butler and MetLife to move involved tax incentives. Butler decided to relocate to the West Bottoms, near Kemper Arena. City officials agreed to nearly $10 million in tax incentives and also to construct a $20-million parking garage that will be used by Butler employees during the day and for Kemper Arena events at nights and on weekends.

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