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Kansas City News Today Kansas City Front Page is a weekly news publication, with daily updates, spotlighting attractions, events, business and hospitality in Kansas City. |
KANSAS CITY NEWS TODAY - Sunday, November 1, 2009  Kansas City Receives $170 Million New Market Tax Credits KANSAS CITY, MO, (kansascityfrontpage.com), November 1, 2009 - As part of his visit to a job training center in Chicago, Geithner announced $5 billion in NMTC awards, including $1.5 billion made possible through the American Recovery and Reinvestment Act (Recovery Act), for more than 90 organizations in communities around the country. In May 2009, Secretary Geithner announced an initial $1.5 billion for NMTC awards under the Recovery Act, making this announcement the second round of Recovery Act funding for the program. The NMTC program, established by Congress in December 2000, permits individual and corporate taxpayers to receive a credit against federal income taxes for making equity investments in investment vehicles known as Community Development Entities (CDEs). Kansas City agencies receiving allocations in the latest round included: Central Bank of Kansas City, $55 million; Kansas City Missouri Community Development CDE, $35 million; and Travois New Markets LLC, $80 million. "We must rebuild our economy on a firmer foundation, one that equips our workers with the skills and education they need to compete," said Secretary Geithner. "We must make sure that the advantages of this new, stronger economy are broadly shared. Too often, communities are left behind by economic growth. The Recovery Act and the New Markets Tax Credit program help break this vicious cycle to ensure the benefits of growth reaches all corners of the country." The investor receives a credit totaling 39 percent of the cost of the investment. CDEs must apply to the Treasury's Community Development Financial Institutions (CDFI) Fund, which administers the NMTC program, to compete for this allocation authority. The organizations receiving awards have identified principal service areas that will cover nearly every state in the country, as well the District of Columbia and Puerto Rico and plan to invest in renewable energy projects, charter schools, health care facilities, manufacturing companies, and retail centers. Kansas City Holds First Annual Restaurant Week KANSAS CITY, MO, (kansascityfrontpage.com), November 1, 2009 - The Greater Kansas City Restaurant Association, in conjunction with the Kansas City Convention & Visitors Association, has announced the inaugural Kansas City Restaurant Week event to take place January 22-31, 2010. For 10 delicious days, residents of the Kansas City metro area, along with visitors from around the Midwest and across the country, can eat well and give back by taking advantage of special multi-course meals at participating restaurants. Lunches will include two courses for $15 per person and dinners will include three courses for $30 per person (excluding beverages, tax and gratuity). Ten percent of each restaurant week lunch or dinner price will go to Harvesters to help fight hunger in the Kansas City community. "Kansas City Restaurant Week is a great showcase of the quality and uniqueness of Kansas City restaurants. It's also a perfect opportunity to fight hunger and bolster our local economy," says Kansas City Convention & Visitors Association President & CEO Rick Hughes. "From family-owned eateries and outposts of well known restaurant chains to progressive, chef-driven restaurants, Kansas City has something to suit everyone's tastes." The event will feature an array of participating restaurants so that people dining out can visit old favorites and Kansas City dining institutions while also trying some of the many new and interesting restaurants that have opened recently in the Kansas City metro area.   The Kansas City Front Page is owned and maintained by the Moore Design Group for the sole purpose of disseminating news and information about the Metropolitan Kansas City area. Text or graphics may not be copied, rewritten or distributed in any manner whatsoever without written permission. For more information, contact editor@slfp.com All rights reserved world wide © 2007 - 2009 Moore Design Group. |
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