State Auditor Nicole Galloway issued the closeout audit of the I-70 & Adams Dairy Parkway Transportation Development District (TDD), located in Blue Springs. State law requires an audit of a TDD before moving forward with dissolution.
The I-70 & Adams Dairy Parkway TDD was established in 2003 by a vote of qualified voters in the district. The TDD was formed to acquire, construct, and/or improve a roadway, bike trail, and parking lot located just south of Interstate 70 at the intersection of Adams Dairy Parkway and Northeast Coronado Drive.
In September of 2003, the district began imposing a one-half of one percent (0.50%) sales tax on all transactions within the boundaries of the district for a period not to exceed 40 years. In 2009, the Board approved and the qualified voters of the district authorized an additional one-half of one percent (0.50%) sales tax for 10 years. From 2003 through December 31, 2021, the I-70 & Adams Dairy Parkway TDD received a total of $4,472,082 in sales tax revenue.
The audit determined the financial condition of the I-70 & Adams Dairy Parkway TDD was such that the Board of Directors may proceed with the abolishment of the district. As of February 28, 2022, the cash balance of the TDD was $356,804 with outstanding balances owed for legal services, accounting services, and bank fees totaling $13,560. After the district’s final costs and professional fees are paid, the remaining balance will be distributed to the City of Blue Springs and/or the Missouri Highway Transportation Commission in accordance with Section 238.275.5(1), RSMo.
The complete audit can be found here.
