Focus Area: Legal
Staff Contact: Ron Shaver
Subject: Resolution setting the date and time for a public hearing regarding creation of a CID at 114-126 S. Cherry Street.
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title:
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Consideration of Resolution No. 25-1020 calling and providing for the giving of notice of a public hearing on April 1, 2025 on the advisability of creating a community improvement district (the 114-126 N. Cherry Street CID).
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Summary:
On February 13, 2025, the City received a Community Improvement District (CID) petition (Attachment A) from Cherry Santa Fe, LLC for creation of a CID over 114-126 S. Cherry Street. The Petition was submitted pursuant to the Kansas Community Improvement District Act (K.S.A. 12-6a26 et seq.), the City’s CID Policy, and the Development Agreement dated December 11, 2024 (Attachment B) negotiated for redevelopment of the property. The petition proposes the levy of a 2% CID sales tax for up to 22 years.
The general nature of the proposed project is to renovate, redevelop or improve an approximately 10,859 square foot facility to be used for Class A restaurant and/or other retail and commercial uses generally located within and/or contiguous to any portion of the proposed District. The proposed project includes interior demolition and expansion of the current buildings on the property, a rooftop seating patio, landscaping, façade, and related improvements.
The project anticipates opening for business in 2026.
The attached resolution (Attachment C) provides for the notice of a public hearing to consider creation of the CID on April 1, 2025. If approved, the CID sales tax would begin being levied once the project is complete.
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Financial Impact:
Total investment in the project is anticipated to be $7,009,686, of which $2,651,120 would be eligible for reimbursement from CID proceeds per the Development Agreement.
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Action Needed:
Approve Resolution No. 25-1020 setting a date and time for a public hearing regarding the advisability of creating a community improvement district (the 114-126 N. Cherry Street CID).
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Attachment(s):
A: CID Petition
B: Development Agreement
C: CID Public Hearing Resolution