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 CID at the northeast corner of Santa Fe Street and Mur Len Road.
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title:
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Consideration of Resolution No. 24-1053 setting a date and time for a public hearing 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)
Body
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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 proposes that a 1% CID sales tax be levied within the CID.
The redevelopment 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 Projects include 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.
The attached resolution (Attachment B) provides for the notice of a public hearing to consider creation of the CID on November 19, 2024. On the same night, the City Council would consider adoption of a TIF Redevelopment Project Plan for the same 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 Resolution No. 24-1053 setting a date and time for a public hearing 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 Public Hearing Resolution