Focus Area: Legal & Economy
Staff Contact: Ron Shaver/Jamie Robichaud
Subject: Resolution setting the date and time for a public hearing regarding creation of a Community Improvement District at the southeast corner of Santa Fe Street and Ridgeview Road.
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title:
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Consideration of Resolution No. 24-1037 setting a date and time for a public hearing regarding the establishment of a community improvement district pursuant to K.S.A. 12-6a26 et seq.
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Summary:
On April 14, 2024, the City received a petition (Attachment A) from DPRE Investors, LLC & Star Fuel Centers, Inc., for creation of a community improvement district (CID) (Twin Trails Shopping Center) pursuant to K.S.A. 12-6a26 et seq. The proposed CID would be located at the southeast corner of Santa Fe Street and Ridgeview Road.
The proposed renovation project includes certain CID-eligible project costs under the City’s CID policy, including new parking lot landscaping, paving and lighting, and façade improvements to the existing building.
The resolution (Attachment B) provides for the notice of a public hearing to consider creation of the TIF district on September 3, 2024. After the public hearing is conducted, the governing body would consider adoption of an ordinance to create the CID.
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Financial Impact:
Based on the developer’s sources and uses, the cost of the project (including land acquisition) is approximately $8.5 million, of which approximately $1.977 million would be reimbursed reimbursable as CID-eligible project costs. The proposed CID sales tax rate is 1% and would be levied over 22 years.
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Action Needed:
Approve Resolution No. 24-1037 setting a date and time for a public hearing regarding the establishment of a community improvement district pursuant to K.S.A. 12-6a26 et seq.
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Attachment(s):
A: CID Petition
B: CID Public Hearing Resolution