College Hill TIF - (the deal that never happened)

Higher and better use

More Archives

Open to the public - Docs

We need to build on the "Building J" site today.

We need the TAX base.

The original plans -

Do you remember the fight over the Central Park Plan?

From: Henry McClure [mailto:mcre@cox.net]
Sent: Wednesday, February 7, 2018 8:28 AM
To: 'Brendan Jensen' <bjensen@topeka.org>
Cc: 'council@topeka.org' <council@topeka.org>
Subject: RE: B. Discussion - Tax Increment Financing (TIF) Policy

Deputy Mayor Jensen

As mentioned last night incentive programs need to be City Wide.

You have more reason to offer “Tenant Construction Allowance” in College Hill every time you pay the short fall. Did the esoteric effect of the investment in capital make the area more desirable?

Go back a look at the Central Park neighborhood planning meetings. I was begging the planning commission the add more commercial contiguous to the Campus Center at 17^th and Washburn to not avail.  At that time I researched all the homeownership from Lane to Huntoon to Topeka Ave to 17^th to Lane. Inside that BOX you only had 19% home ownership and some of the highest crime in the City. You have the oldest housing stock that has been cut up into multifamily.  This environs made the Wanamaker corridor the top choice for the good retailers.

We need to keep investing around the core assets to get returns on those TIF bonds in college Hill.  

Example

---- East of Campus Shopping center to Lincoln

I needed all the houses to rebuild the strip center 1^st so no tenants would have any down time except Kwik Shop. Then I relocate all the tenants and knock down everything but Kwik shop. Build the New Kwik Shop and no down time.

With that Zoning in place today This is where we put a market.

We always have to reinvent the wheel and this is where the “process” kills deals.

We need to be able to make sweeping changes.

From: Brendan Jensen [mailto:bjensen@topeka.org]
Sent: Tuesday, February 6, 2018 5:26 PM
To: Henry McClure <mcre@cox.net>
Subject: RE: B. Discussion - Tax Increment Financing (TIF) Policy

Thanks for the information! Any idea why there has been such a struggle to get business to rent the retail spave there?

-Brendan

From: Henry McClure [mailto:mcre@cox.net]
Sent: Tuesday, February 06, 2018 4:46 PM
To: City Council <Council@Topeka.org>
Cc: Brent Trout <btrout@topeka.org>; Douglas Gerber <dgerber@topeka.org>
Subject: B. Discussion - Tax Increment Financing (TIF) Policy

B. Discussion - Tax Increment Financing (TIF) Policy

Let’s remember the Private investment was close to $25,000,000

The property sold mid 2017

Parcel ID:  1410102025019000 Close Window

Certificate  of Value:  128238  087387  Sale Date:  07/2017  02/2011  08/2006    Source:  SVQ - 8    Validity: Unvalidated Sale Not Open Market    Type: Land & Building Land Only   Amount:   16,250,000  118,000

The loss is close to the entire public contribution.

Thanks

Henry McClure

785.383.9994 Direct

Time Kills Deals 

In the end you need to know all of this ..... for the record.