Focus Area: Legal; Economy
Staff Contact: Ron Shaver; Jamie Robichaud
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title:
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Consideration of Ordinance No. 26-33 amending Ordinance No. 24-50 regarding the commencement date of the CID Sales Tax imposed within the 119th and Renner Community Improvement District.
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recommended motion:
Approve Ordinance No. 26-33 amending Ordinance No. 24-50 regarding the commencement date of the CID Sales Tax imposed within the 119th and Renner Community Improvement District.
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Summary:
On November 19, 2024, the City Council adopted Ordinance No. 24-50 (Attachment A), authorizing the creation of the 119th & Renner Community Improvement District (CID). The ordinance also authorized the making of certain project improvements within the District, approved the estimated cost of such project improvements, and authorized the levy of a 1% CID sales tax within the District commencing on October 1, 2026.
The CID pertains to the design, development, construction, and operation of a major commercial entertainment and tourism destination and major multi-sport athletic complex generally located at the southwest corner of the intersection 119th Street and Renner Boulevard, which project is proposed to include (i) an approximately 5,000 -seat multi-sport arena; (ii) a unique ultra-accessible amusement park designed to accommodate all families, including those with children who have special needs, including fully-accessible rides, games, and interactive events and experiences, and (iii) retail, restaurant and hospitality offerings and amenities (collectively, the “Project”).
Design and site clearing is underway with on-site infrastructure work commencing later in 2026 and vertical construction anticipated to begin in 2027. The developer (Loretto Commercial Development, LLC) has requested that the CID commencement date be delayed until April 1, 2029 to better align with the anticipated completion and opening of certain elements of the project. The attached ordinance (Attachment B) amends Section 3(a) of Ordinance No. 24-50 to adjust the CID commencement date until April 1, 2029.
Staff recommends adoption of the ordinance in order to provide timely notice of the revised CID sales tax commencement date to the Kansas Department of Revenue.
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Financial Information:
The estimated cost of the Project was estimated in 2024 to be $341,032,777, of which $9,548,541 would be paid from the proceeds of the proposed CID sales tax (2.8% of total anticipated project costs).
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Attachment(s):
A: Ordinance No. 24-50
B: Ordinance amending Section 3(a) of Ordinance No. 24-50