TIF districts Archives - Voice For Liberty

Mar

Wichita considers a new stadium

The City of Wichita plans subsidized development of a sports facility as an economic driver. Originally published in July 2017. This week the Wichita City Council will consider a project plan for a redevelopment district near Downtown Wichita. It is largely financed by Tax Increment Financing and STAR bonds. Both divert future incremental tax revenue to pay for various things within the district.[1. Weeks, Bob. STAR bonds in Kansas. Available at https://wichitaliberty.org/kansas-government/star-bonds-kansas/.] [1. Weeks, Bob. Wichita TIF projects: some background. Available at https://wichitaliberty.org/wichita-government/wichita-tif-projects-background/.] City documents promise this: "The City plans to substantially rehabilitate or replace Lawrence-Dumont Stadium into a multi-sport…

WichitaLiberty.TV: Economic development incentives

Nov

By Bob Weeks

WichitaLiberty.TV: Economic development incentives

In this episode of WichitaLiberty.TV: A look at some economic development incentive programs in Wichita and Kansas. Second in a series. Tax increment financing (TIF) is prominent in this episode. View below, or click here to view at YouTube. Episode 219, broadcast November 25, 2018. Shownotes Wichita TIF projects: some background. Tax increment financing disrupts the usual flow of tax dollars, routing funds away from cash-strapped cities, counties, and schools back to the TIF-financed development. TIF creates distortions in the way cities develop, and researchers find that the use of TIF means lower economic growth. Industrial revenue bonds in Kansas:…

Sep

By Bob Weeks

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…

Naftzger Park private use plans unsettled

Mar

By Bob Weeks

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…

Aug

By Bob Weeks

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://wichitaliberty.org/wichita-government/naftzger-park-tax-increment-financing-tif/.] TIF is a mechanism whereby future tax revenues are redirected…

Redesigned Naftzger Park likely not only subsidy

Aug

By Bob Weeks

Redesigned Naftzger Park likely not only subsidy

The developers of property near Naftzger Park in downtown Wichita will possibly receive millions in other subsidy. The powerful impetus to redevelop Naftzger Park in downtown Wichita is attributed to two sources: The NCAA basketball games in March and the desire of TGC Development Group to develop property it owns near the park. How much motivation comes from which source depends on who you ask. But it's clear that the present state of the park is a problem for TGC. A newly redesigned park will effectively serve as the "front yard" for TGC's projects, and will greatly benefit that company.…

Aug

By Bob Weeks

Naftzger Park land ownership

One of the issues surrounding Naftzger Park in downtown Wichita is land ownership. Information from the Sedgwick County Online Map Portal shows land parcels and ownership. The nearby illustration shows Naftzger Park and its environs. (I don't think it's possible for me to save a link that brings you directly to the map as I've shown it.) On this map, the two parcels owned by private owners are outlined in orange. The City of Wichita or the Board of Park Commissioners own the other parcels north of William Street. We can see that the park is built partially on land…

Aug

By Bob Weeks

Naftzger Park public hearing

On Tuesday August 15 the Wichita City Council will hold a public hearing to consider authorizing spending TIF funds on Naftzger Park. This week the Wichita City Council is scheduled to hold a public hearing on a new redevelopment project plan for a tax increment financing (TIF) district in downtown Wichita. The redevelopment project plan contemplates transforming Naftzger Park. The hearing is part of the regular council meeting at 9:00 am Tuesday August 15 at city hall. While the city has held four public meetings on the topic of Naftzger Park redesign, these meetings were not legally required. But the…

Aug

By Bob Weeks

WichitaLiberty.TV: Naftzger Park

In this episode of WichitaLiberty.TV: Wichita Assistant City Manager and Director of Development Scot Rigby joins hosts Bob Weeks and Karl Peterjohn to discuss the plans for Naftzger Park. Then, Bob and Karl continue the discussion. View below, or click here to view at YouTube. Episode 161, broadcast August 13, 2017. Shownotes The city's page for Naftzger Park The city's economic development page Naftzger Park Facebook group Naftzger Park public hearing to be considered. The Wichita City Council may set August 15, 2017 as the date for a public hearing on the future of Naftzger Park in downtown Wichita. Photo…

Aug

By Bob Weeks

Naftzger Park construction manager

The City of Wichita seeks a construction manager for the construction of Naftzger Park. The request for qualification is titled "CONSTRUCTION MANAGER AT RISK to Construct Naftzger Park." On the city's purchasing website the relevant information is contained in five separate documents. I've gathered them together in one document, which you may access here. The city may be getting ahead of itself. The RFQ sets the deadline for submissions as 2:00 pm Tuesday August 15. That morning is when the Wichita City Council will consider approval of the redevelopment project plan. [1. Weeks, Bob. Upcoming Naftzger Park legislative action. Available…