Focus Area: Legal
Staff Contact: Ron Shaver
Subject: Ordinance creating a CID at the northeast corner of Santa Fe Street and Mur Len Road.
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title:
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Public hearing and consideration of Ordinance No. 24-47 regarding the creation of a community improvement district and the levy of a community improvement district sales tax pursuant to K.S.A. 12-6a26 et seq. (Indian Creek Crossing Project)
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Summary:
On July 24, 2024, the City received a Community Improvement District (CID) petition (Attachment A) from Rosebud Partners, LLC for creation of a CID over the Indian Creek Crossing Project at the northeast corner of Santa Fe Street and Mur Len Road. The petition was submitted pursuant to the Kansas Community Improvement District Act (K.S.A. 12-6a26 et seq.) and the City’s CID Policy. The petition proposed the imposition of a 1% CID sales tax in order to pay a portion of the cost of the project in the petition.
The Project includes retail development containing approximately 115,000 square feet of retail/commercial use, as well as related public infrastructure and other site improvements. The proposed Project includes a new to market sports/entertainment facility, a national all-inclusive physical fitness facility, a regional hardware store and a regional convenience store. Related public infrastructure includes the conveyance of real property to the City for expansion of the existing fire station facility located immediately north of the Project. In addition, the developer anticipates conveying real property to the City for the purposes of the expansion and improvement of 135th Street.
On October 15, 2024, the City Council adopted Resolution No. 24-1053 providing for the notice of tonight’s CID public hearing, declaring the Council’s intent to impose the 1% CID sales tax within the CID, and requiring the City Clerk to provide notice of the public hearing as required by the CID Act.
The ordinance (Attachment B) creates the Indian Creek Crossing CID, identifies the general nature of the Project (as described above), and authorizes the imposition of the 1% CID sales tax within the CID to commence on September 1, 2025, and continue for a period of up to 22 years.
Also on tonight’s agenda, the City Council will conduct a public hearing and consider adoption of a TIF Redevelopment Project Plan and Development Agreement for the Indian Creek Crossing Project.
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Financial Impact:
Total investment in the Indian Creek Crossing project is anticipated to be over $26.4 million, of which approximately $16.12 million would be eligible for reimbursement from TIF and CID proceeds. The developer has proposed to be reimbursed up to $7 million from TIF and CID proceeds, or approximately 26.5% of total redevelopment project costs.
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Action Needed:
Approve Ordinance No. 24-47 regarding the creation of a community improvement district and the levy of a community improvement district sales tax pursuant to K.S.A. 12-6a26 et seq.
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Attachment(s):
A: CID Petition
B: CID Ordinance