TOPEKA (KSNT) – The City Council is set to continue discussions on a major investment in south Topeka that could add new businesses to the area.
Topeka’s City Council is scheduled to meet on Nov. 5 and take action on two resolutions related to the Sunflower Crossing Redevelopment District. This district can be found in an undeveloped section of land consisting of just over nine acres to the northwest of where Topeka Boulevard and Kansas Avenue meet in south Topeka.
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Both resolutions concern setting up public meetings in December for a new Community Improvement District (CID) and a new Tax Increment Financing (TIF) District at Sunflower Crossing. If approved by the City Council at its upcoming meeting, there will be a hearing to consider the TIF project plan along with the establishment of a CID for Sunflower Crossing on Dec. 9.
The City Council previously approved another public hearing for the establishment of the Sunflower Crossing TIF district for Nov. 12, meaning there will be three public hearings on Sunflower Crossing from November to December. The new CID and TIF have a combined budgetary impact of nearly $20 million, according to city agenda documents.
- TIF – $19,016,547.
- CID – $971,674.
The funding source for the TIF and CID is a sales tax imposed on the Sunflower Crossing area at a rate of 1%. This “Pay-as-You-Go” financing will last for a period of 22 years.
A CID is established to stimulate economic growth and new job opportunities in Topeka for the benefit of the general public. A TIF is a real estate redevelopment tool that can be used to reimburse a developer on a Pay-as-You-Go basis for projects approved by the city.
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BHI Development, Inc. submitted a letter to the City of Topeka in January this year asking for the establishment of a TIF and CID to aid in the development of Sunflower Crossing. Plans currently include the installation of a QuikTrip gas station, a retail building and a sit-down restaurant.
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