3846 SW TOPEKA BLVD, Topeka, KS 66609 is an exciting opportunity
for redevelopment in the Topeka Boulevard area! A 1.41-acre parcel of land
located next to the brand new KTA (Kansas Turnpike Authority) Offices. The
area's renaissance, described as larger than the day Jack Wylie sold White Lakes
Country Club to the mall developers to build White Lakes Mall, indicates
significant growth and development.
In terms of financing and incentives for redevelopment, a
CID (Community Improvement District) and TIF (Tax Increment Financing) options
are available.
A Community Improvement District (CID) is a specific
geographical area where additional taxes, known as CID taxes, are imposed on
businesses and properties within the district. The revenue generated from these
taxes is then allocated towards financing public infrastructure, improvements,
and other economic development initiatives within the CID.
Tax Increment Financing (TIF) is a financing mechanism that
allows municipalities to use future increases in property tax revenues from a
designated area to finance current infrastructure improvements or other public
projects within that same area. In essence, the increase in property taxes
resulting from the redevelopment is used to repay the debt incurred for the
improvements.
These financing tools can help attract investors and
developers and end users to the area, making it more appealing for
redevelopment projects. It would be advisable to consult with a local economic
development agency or city officials to explore the specific CID and TIF
opportunities available for the Topeka Boulevard area. They can provide you
with more information on the application process, eligibility criteria, and
potential benefits associated with these programs.
Overall, with the prime location of the land near the new
KTA Offices and the ongoing renaissance in the Topeka Boulevard area, combined
with the availability of CID and TIF options, this seems like a promising
opportunity for redevelopment.
MCRE, LLC
(MCRE) acting
as a developer/Broker exclusively on behalf of DAYARAM LLC (owner),
The owner authorizes
MCRE to make best efforts with the City of Topeka and Shawnee County and
collective JEDO as well as other government agencies to receive
funds to develop and make the property at 3846 SW Topeka shovel ready and
upgrade infrastructure. Furthermore, the JEDO contractor for Economic
development funds will deal with MCRE exclusively.
The owner agrees to cease and desist all
operations at 3846 SW Topeka Boulevard Topeka KS 66609 in trade for the funds
to demolish all the improvements on the property listed below. This offer to
close operations is only approved if 100% of the funds are derived from the
economic development assistance.
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