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City of Independence to Buy $20M Vacant GEHA Building

Independence has reviewed a proposal for the purchase of a vacant building. Photo Credit: Google Maps

Posted December 19, 2023

Independence hopes to enter a $20 million lease-purchase agreement for the vacant Government Employees Health Association Inc. building.

The property is located at 20201 and 20221 E. Jackson Drive, off Interstate 70. The agreement would see renovations made to the 90,000-square-foot building and cost approximately $20 million, according to a City of Independence document.

Independence would relocate its City Utility Center to the GEHA building if purchased. The City utility center is currently located at 23rd Street and Missouri Highway 291.

Under the agreement, the interest rate for the deal would be 5.18 percent under a 20-year term, with an annual debt service of approximately $1.6 million.

The next Independence City Council meeting is scheduled for Jan. 2 where council members will vote on whether to approve the purchase.