Audit determines Board of Directors can move forward with abolishment

JEFFERSON CITY, Mo. — State Auditor Nicole Galloway has released the closeout audit of the Douglas Square Transportation Development District (TDD), located in Lee’s Summit. State law requires an audit of a TDD prior to moving forward with dissolution.

The taxing district, established in 2001 through a vote by qualified voters in the district, was formed for the purpose of design, engineering and construction of Missouri Road. The project was financed with a bank note and was completed in 2003. The work was funded by a 1 percent sales tax on all taxable transactions within the boundaries of the district, and the note was paid off in March 2019. The district also agreed to help pay for infrastructure projects in the separate Douglas Station TDD.

The audit determined the financial condition of the Douglas Square TDD was such that the Board of Directors may proceed with abolishment of the district.

The complete audit can be found here.