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
Metropolitan Growth (eleven counties) Sources: 1940 to 2000 Censuses And 2010 U.S. Census Bureau Figures 275,000 250,246 250,000 225,000 197,151 193,526 200,000 171,718 Metro Net Growth 175,000 150,000 133,156 123,303 125,000 100,000 63,772 75,000 50,000 25,000 - 1940's 1950's 1960's 1970's 1980's 1990's 2000's Decade
GENERAL COMPARISONS KC North Northland Clay and Platte Land Area (sq.mi.) 160 370 817 Population (2010 census) 157,091 257,912 311,261 118,835 212,527 257,787 (2000 census population) 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 (3 rd 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
TIFacts • 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) – 11 th Street (streetscape and façade repair) – 22 nd & Main – (commercial revitalization and restaurants in Freighthouse) – Midtown – ( blight removal; Home Depot, Costco, Sunfresh; housing program)
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
• Projects that are coming or • TIF create in 1999, with 0 proposed in the TIF: businesses, in 2012 there • are 63 businesses 2013 – Tiffany Springs Pkwy Interchange • 2013/14 – Sam’s Club – 137,500 sq.ft. • From 1980-2000 this area saw only • 420,000 Sq. Ft. of retail construction 2013/14 – 8 pad sites around Sam’s club • • 2000 – Wal-Mart & Lowes 2013/14 – Menards Center 350,000 Sq. Ft. • 2013/14 – Approx. 10 pad sites around • 2004 – Shoppes @ Boardwalk Menards 115,000 Sq. Ft. • 2013/14 – Tiffany Springs Road/ Green Hills • In the last 5 YEARS, this TIF has Road intersection influenced more development than in the previous 20 YEARS! • 2013/14 - Tiffany Springs Trail connections • 2009 – Tiffany Springs Market • To date; approx. 5.7 centerline miles Center - 590,000 Sq. Ft. built/improved in the area • 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.
(yr. total) Building Permits Platte R-3 Park Hill • 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 •
• Undeveloped Land 1,249 acres (86%)
- Residential remaining: 90% (755 acres) - Commercial remaining: 81% (494 acres)
• 12,400+ Acres will have sanitary sewer
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