The Midtown Truman Road Corridor Development Plan was approved in June 1995 and amended in May 2000. Ordinance 17490 authorized a Cooperative Agreement between the City and the M/TRC for administrative services. The Agreement requires that the City and Corporation agree annually to a budget.
The Corporation's revenue has dramatically decreased since the Independence Regional Medical Center moved from the district in 2008. The largest portion of the budget ($24,000 or 84%) is dedicated to administrative services provided by the City under the 2000 Cooperative Agreement. Services include administering tax abatement (including five-year property inspections); annual reporting and financial management; management of ongoing public improvements; clerical oversight; and other necessary corporation business.