Tax increment financing

More TIF spending in Wichita

More TIF spending in Wichita

The Wichita City Council will consider approval of a redevelopment plan in a tax increment financing (TIF) district. This week the Wichita City Council will hold a public hearing considering approval of more tax increment financing (TIF) spending in downtown Wichita. The spending is for the second phase of redevelopment of the Union Station property on East Douglas. According to city documents, the total cost of this phase is $31,000,000, with TIF paying for $2,954,734. [1. Wichita city council agenda packet for September 11, 2018.] This is a pay-as-you-go form of TIF, which means the city does not borrow funds…
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Naftzger Park private use plans unsettled

Naftzger Park private use plans unsettled

An important detail regarding Naftzger Park in downtown Wichita is unsettled, and Wichitans have reason to be wary. In the developer agreement regarding Naftzger Park passed on December 19, 2017, there was this: “The City and the Board will cooperate with Developers, upon Developers’ request, to create an Annual Master Calendar of private and public events for the Park, with the expectation that the Developers will have the use of the Park for certain private events.” [1. DEVELOPMENT AGREEMENT between the CITY OF WICHITA, KANSAS, BOARD OF PARK COMMISSIONERS OF THE CITY OF WICHITA, KANSAS, SENECA PROPERTY, LLC, and SUNFLOWER…
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Naftzger Park project details

Naftzger Park project details

The city has finalized a proposal for a development near Naftzger Park. It includes a few new and creative provisions. This week the City of Wichita will consider a development agreement for land and buildings near Naftzger Park in downtown Wichita. [1. City of Wichita Agenda Packet for December 19, 2017, Item IV-6. Available at http://wichitaks.granicus.com/AgendaViewer.php?view_id=2&clip_id=3699.] Community Improvement District The plan includes the formation of a Community Improvement District. In CIDs, merchants charge additional sales tax for the benefit of the property owners, instead of the general public.[1. Weeks, Bob. Community improvement districts in Kansas. Available at https://bobw7.sg-host.com/kansas-government/community-improvement-districts-kansas/.] In this…
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Delano catalyst site

Delano catalyst site

A development near downtown Wichita may receive subsidy through four different avenues. This week the Wichita City Council will consider approval of a development agreement with EPC Real Estate, LLC, for the Delano catalyst site. This is vacant land north of Douglas, between the Advanced Learning Library and the River Vista project. Update: The measure passed four votes to three, with Bluebaugh, Frye, and Longwell in the minority. Wichita Eagle reporting mentions some of the public subsidy the development will receive: $12 million over a period of years, in the form of Tax Increment Financing and Community Improvement District sales…
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In Wichita, not your tax dollars

In Wichita, not your tax dollars

At a Wichita City Council meeting, citizens are told, "These tax dollars are not your tax dollars." At the meeting of the Wichita City Council this week, Wichita City Council Member Lavonta Williams (district 1, northeast Wichita) lectured the audience, saying: "These tax dollars are not your tax dollars." The matter under consideration was a redevelopment plan for Naftzger Park in downtown Wichita. Approval was necessary if tax increment financing (TIF) funds could be spent on the park. [1. Weeks, Bob. Naftzger Park tax increment financing (TIF). Available at https://bobw7.sg-host.com/wichita-government/naftzger-park-tax-increment-financing-tif/.] TIF is a mechanism whereby future tax revenues are redirected…
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