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.
