The Black Chamber of Commerce of Greater Kansas City Inc. is raising concerns over the memorandum of understanding between Edgemoor Infrastructure & Real Estate LLC and the city of Kansas City. The chamber is calling for the city to reject the MOU because it’s “not transformative” for the minority community.
On Tuesday, Edgemoor presented a revised MOU to the City Council for the $1 billion Kansas City International Airport single-terminal project. The MOU met a number of the council’s requests and included a revised $28.9 million community benefit agreement.
Although the community benefit agreement has been revised, it’s still not good enough, according to the chamber. In a release, the chamber said that Edgemoor “has failed to make an investment toward a comprehensive CBA” and that “funding for community benefits should be a binding obligation of the developer from developer profits — not airport revenues. Edgemoor’s plan, does not assist the community because the community has to pay for it.”
The chamber also questioned the CBA investment amount, saying that it appeared inflated and that some of the funds are going toward Clark Construction employee and consultant positions, which boost Edgemoor’s profit.
In the release, the chamber raised several other concerns, including an insufficient minority business enterprise goal, Edgemoor aiming to keep the status quo and how the developer changed its financial terms.
The Airport Committee will meet Thursday morning to discuss the MOU.