TIF Archives - Page 2 of 5 Voice For Liberty

May

WichitaLiberty.TV Sedgwick County Commissioner Richard Ranzau

In this episode of WichitaLiberty.TV. Sedgwick County Commissioner Richard Ranzau joins Bob Weeks and Karl Peterjohn to discuss current issues in Sedgwick County government. View below, or click here to view at YouTube. Episode 150, broadcast May 7, 2017. Shownotes Richard Ranzau page at Sedgwick County Sedgwick County to consider raising debt limit. The Sedgwick County Commission will consider raising its limit on borrowing for reasons which need to be revealed, and then carefully examined. For Sedgwick County Commission, too much debate. By moving to end motions and debate, the Sedgwick County Commission isn’t effectively serving citizens and taxpayers. Tax…

Downtown Wichita’s Block One, a beneficiary of tax increment financing

Apr

By Bob Weeks

Downtown Wichita’s Block One, a beneficiary of tax increment financing

Before forming new tax increment financing districts, Wichita taxpayers ought to ask for progress on current districts. I'll not bore you with the mechanism of tax increment financing (TIF). But if you're curious, please read Wichita TIF projects: some background and Tax increment financing district (TIF) resources. Whatever the mechanism, tax increment financing is meant to spur economic growth. But in one of Wichita's largest TIF districts, economic activity, much less growth, is difficult to find. In particular, "Block One" -- a square block bounded by Douglas and William, Broadway and Topeka -- has benefited from TIF money, but has…

Jan

By Bob Weeks

In Kansas, the war on blight continues

Kansas governments are trying -- again -- to expand their powers to take property to the detriment of one of the fundamental rights of citizens: private property rights. Last year cities in Kansas lobbied for a bill that would expand their powers to take property from its lawful owners, all in the name of saving neighborhoods from "blight." Governor Brownback vetoed that bill, explaining, "The right to private property serves as a central pillar of the American constitutional tradition."[1. Weeks, Bob. Governor Brownback steps up for property rights. https://bobw7.sg-host.com/kansas-government/governor-brownback-steps-property-rights/.] The governor further explained: "The broad definition of blighted or abandoned…

Won’t anyone develop in downtown Wichita without incentives?

Dec

By Bob Weeks

Won’t anyone develop in downtown Wichita without incentives?

Action the Wichita City Council will consider next week makes one wonder: If downtown Wichita is so great, why does the city have to give away so much? Next week the Wichita City Council will consider a package of incentives for the developer of a large downtown building, the Finney State Office Center. The building has an appraised value of $7,902,570, per the Sedgwick County Treasurer. The city will sell it for $100,000. That's a mere 1.3 cents per dollar, if the county's valuation is reasonable. (But, the $100,000 is non-refundable, should the purchaser decide not to close on the…

Dec

By Bob Weeks

Year in Review: 2016

Here are highlights from Voice for Liberty for 2016. Was it a good year for the principles of individual liberty, limited government, economic freedom, and free markets in Wichita and Kansas? Also be sure to view the programs on WichitaLiberty.TV for guests like journalist, novelist, and blogger Bud Norman; Radio talk show host Joseph Ashby; David Bobb, President of Bill of Rights Institute; Heritage Foundation trade expert Bryan Riley; Radio talk show host Andy Hooser; Keen Umbehr; John Chisholm on entrepreneurship; James Rosebush, author of "True Reagan," Jonathan Williams of American Legislative Exchange Council (ALEC); Gidget Southway, or Danedri Herbert;…

In Wichita, developer welfare under a cloud

Oct

By Bob Weeks

In Wichita, developer welfare under a cloud

A downtown Wichita project receives a small benefit from the city, with no mention of the really big money. Today the Wichita City Council approved a subsidy for a project in downtown Wichita. The city will lend the developer of a project at 303 S. Broadway $620,000 to improve the building's facade. The property must repay this amount through an assessment on its property tax. The benefit to the property is that the city is able to borrow money at a lower interest rate, and this reduces the cost of borrowing for the project. The agenda packet for this item…

CID and other incentives approved in downtown Wichita

Sep

By Bob Weeks

CID and other incentives approved in downtown Wichita

The Wichita City Council approves economic development incentives, but citizens should not be proud of the discussion and deliberation. Today's meeting of the Wichita City Council saw the council discuss and approve economic development incentives for a project in downtown Wichita. The item contemplated economic development incentives for redevelopment of an empty building in downtown Wichita to become a Hilton Garden Inn Hotel. The incentives being considered were a Community Improvement District (CID), Industrial Revenue Bonds (IRB), a parking agreement, and a skywalk easement. The discussion by the council was useful for revealing two members who are opposed to some…

May

By Bob Weeks

Kansas economic development programs

Explaining common economic development programs in Kansas. 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. Click here. Tax increment financing (TIF) resources Resources on tax increment financing (TIF) districts. Click here. STAR bonds in Kansas The Kansas STAR bonds program provides a mechanism for spending by autopilot, without specific appropriation by the legislature. Click here. Industrial Revenue Bonds in Kansas…

Wichita TIF district disbands; taxpayers on the hook

Mar

By Bob Weeks

Wichita TIF district disbands; taxpayers on the hook

A real estate development in College Hill was not successful. What does this mean for city taxpayers? Seeking to promote the redevelopment of land northeast of Douglas and Hillside, the City of Wichita entered into agreements with Loveland Properties, LLC, College Hill Urban Village LLC, and CHUV Inc. The original plans were grand: A Northeast Brownstone Complex located at the northeast corner of Victor and Rutan, a Condominium Tower and Brownstone Complex, a West Brownstone Complex, and the South Retail/Residential Complex. A city analysis in 2007 projected that by 2010 the value of these projects would be $61,817,932. Unfortunately, this…

Feb

By Bob Weeks

Tax increment financing in Kansas

In this excerpt from WichitaLiberty.TV: How does Tax Increment Financing (TIF) work in Kansas? Is is a good thing, or not? View below, or click here to view at YouTube. Originally broadcast June 7, 2015. (more…)