KCI TIF update Johnson KS 544,179 Leavenworth KS 76,227 Miami - - PowerPoint PPT Presentation

KCI TIF update

Johnson KS 544,179 Leavenworth KS 76,227 Miami KS 32,787 Wyandotte KS 157,505 Cass MO 99,478 Clay MO 221,939 Clinton MO 20,743 Jackson MO 674,158 Lafayette MO 33,381 Platte MO 89,322 Ray MO 23,494 Total MSA 1,973,213

Kansas City, MO 459, 787 (23%)

KC NORTH - 157,091 34% of City population

50% of the land mass 16% of the 11 County population

123,303 250,246 171,718 63,772 133,156 193,526 197,151

• 25,000

50,000 75,000 100,000 125,000 150,000 175,000 200,000 225,000 250,000 275,000 1940's 1950's 1960's 1970's 1980's 1990's 2000's Metro Net Growth Decade

Metropolitan Growth (eleven counties)

Sources: 1940 to 2000 Censuses And 2010 U.S. Census Bureau Figures

GENERAL COMPARISONS

KC North Northland Clay and Platte

Land Area (sq.mi.) 160 370 817 Population (2010 census) 157,091 257,912 311,261

(2000 census population) 118,835

212,527 257,787

Percent of Clay/ Platte Land Area 19.6% 45.3%

• - -

Percent of Clay/ Platte Population 50.5% 82.9%

• - -

• Top 4 of 5 census

tracts are in the Shoal Creek Area (Clay County)

• 4 census tracts has

15,926 (55%) of the 29,406 growth in Clay County, KC North

• Census 2010 shows

the KC North has grown by 38,456 and KC South lost 20,307

• Top 5 census tracts

that have lost the most population are south of the river (3rd District)

• There are 55 active

TIF Plans

• 35 plans are

developer financed

• 10 are city backed
• 10 have TIF or other

agency bonds

• Of the 55 plans:

– 8 in District 1 – 2 in District 2 – 3 in District 3 – 33 in District 4 – 8 in District 5 – 1 in District 6

• There are 55 active TIF Plans
• TIF projects have funded renovations to over 600 homes
• MBE firms have realized $4.67 million in contracts via TIF in 2012
• WBE firms have realized $2.59 million in contracts via TIF in 2012
• Notable TIF projects undertaken since the first TIF plan was approved in 1987:

– Antioch Crossing (redevelopment of Antioch Mall) – KCI Corridor (road improvements around airport, First & Second Creek sewers) – Shoal Creek (road improvements) – 1200 Main/South Loop (Entertainment District, blight removal, downtown parking) – Brush Creek/Blue Parkway (urban core shopping and Plaza Library) – Carondelet Drive (900+ office workers in South KC) – 11th Street (streetscape and façade repair) – 22nd & Main – (commercial revitalization and restaurants in Freighthouse) – Midtown – (blight removal; Home Depot, Costco, Sunfresh; housing program)

TIFacts

TIF Basics

Tax Increment Financing is not abatement – projects pay all taxes TIF uses the NEW taxes generated by a project to pay certain agreed costs – usually that is infrastructure, in some cases, funds are used to remove blight (e.g. make the site competitive with “green field” development. TIF Plan Concepts

• “But -for” test
• “Blight” is not required, can also be “conservation area” or “

economic development area”

• Myth that taxing jurisdictions “lose” money on TIF Plans
• School districts, counties and other taxing districts participate in plan
• Cost-benefit analysis must be provided - school districts can sometimes

be benefited greatly

• Plan can “redirect” new PILOTs and 50% of EATs
• So 50% of EATs always go to taxing district
• Payment is on reimbursement basis – so project is constructed first

Plans do not always last for 23 years

KCI TIF

• TIF create in 1999, with 0

businesses, in 2012 there are 63 businesses

• From 1980-2000 this area saw only

420,000 Sq. Ft. of retail construction

• 2000 – Wal-Mart & Lowes

350,000 Sq. Ft.

• 2004 – Shoppes @ Boardwalk

115,000 Sq. Ft.

• In the last 5 YEARS, this TIF has

influenced more development than in the previous 20 YEARS!

• 2009 – Tiffany Springs Market

Center - 590,000 Sq. Ft.

• 2014 - Sams Club – 137,500 sq.ft.
• In 2012, these developments (inside the

TIF) will pay over $3 million in Real Property Taxes.

• The TIF has generated over $43 million

in EAT’s, to date.

• Projects that are coming or

proposed in the TIF:

• 2013 – Tiffany Springs Pkwy Interchange
• 2013/14 – Sam’s Club – 137,500 sq.ft.
• 2013/14 – 8 pad sites around Sam’s club
• 2013/14 – Menards Center
• 2013/14 – Approx. 10 pad sites around

Menards

• 2013/14 – Tiffany Springs Road/ Green Hills

Road intersection

• 2013/14 - Tiffany Springs Trail connections
• To date; approx. 5.7 centerline miles

built/improved in the area

• 1999 TIF created

599 (599) 1,974 8,652

• 2001 Boardwalk project

1,285 (215) 2,165 9,004

• 2004 Ambassador Drive/152

2,176 (214) 2,582 9,460

• 2006 N. Congress Ave.

2,676 (199) 2,863 9,648

• 2008 Tiffany Springs Rd/Skyview Ave

3,360 (461) 3,234 10,106

• 2010 Ambassador Dr. extension/Skyview

3,422 (62) 3,549 10,199

• 2012/13 Barry Road project/future TSP

3,850 (389) 3,712 10,448

• Increase after 13 years of TIF:

+ 3,251 +1,738 + 1,796

• Population Increase (Inside the TIF): In 1999 , 423 In 2010 , 3,455

(yr. total) Building Permits Platte R-3 Park Hill

• Undeveloped Land

1,249 acres (86%)

• Residential remaining:

90% (755 acres)

• Commercial remaining:

81% (494 acres)

• 12,400+ Acres will

have sanitary sewer

QUESTIONS?