Department: Resource Management
Staff Contact: Dianna Wright/Ron Shaver/Emily Vincent
Subject: Consideration of Resolution No. 19-1070 adopting the Transportation Development District (TDD) Policy.
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Item Description:
title
Consideration of Resolution No. 19-1070 adopting the Transportation Development District (TDD) Policy. .
Body
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Summary:
The City reviews its Transportation Development District (TDD) Policy every other year. This review is made to ensure that the TDD policy is keeping in line with the City Council’s economic development goals as well as market trends. The proposed policy modifications include the following;
• Adding a Community Benefit Component to the policy that requires the owner of a property receiving an incentive to (1) at all times be a dues-paying member in good standing with both the Olathe Chamber of Commerce and the Olathe Economic Development Council and (2) make an annual donation to the Olathe Community Fund in an amount to be determined in the sole discretion of the owner, but no less than $3,000 annually.
• Eliminating the sunset date for the TDD policy. There have been no new applications for TDD projects since 2008. Eliminating the sunset date will allow us to keep the policy active but only need to review it on an as needed basis.
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Financial Impact:
None
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Action Needed:
Approve Resolution No. 19-1070 adopting the City’s Transportation Development District (TDD) Policy.
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Attachment(s):
Attachment A: Resolution No. 19-1070 TDD Policy