Bonner Springs Council Sets Hearing Date for Westgate Development

Bonner Springs, KS, December 24, 2016 --(PR.com)-- The Bonner Springs City Council at their meeting on Monday, December 19, 2016, approved a resolution to set a public hearing at City Hall on January 23, 2017 at 7:30 p.m. for a Tax Increment Financing (TIF) District on Westgate, a mixed-use development, at 118th Street and State Avenue.

The city has received an application for TIF incentives from Triple R Properties LLC, on the $130 million, 73 acre project. Within three project areas, the mixed-use development is proposed to include 16.94 acres of triplexes and 21.9 acres of duplexes in Project Area One, 18.47 acres for about 77,200 square feet of commercial development in Project Area Two, and 16.02 acres of apartments and assisted living in Project Area Three.

Per comments provided at Monday’s City Council meeting, the proposed 112 duplex and 69 triplex homes in Project Area One are planned with a price point around $200,000 for a 1,400+ square-foot attached villa. Project Area Three, as currently proposed, would include an apartment complex of 180 units, a nearby assisted living facility of 150 units, and a 125 room hotel.

The requested TIF district assists the developer with financing to allow them to keep a portion of the property taxes that increase as the property is developed for up to 20 years. Currently, the total property tax on the property is $1,483, of which the city receives $304. If approved, the current property tax amount will continue until 20 years after a TIF project is approved in each project area, at which point the taxing entities will begin collecting the full amount of increased property taxes.