Jan

9

TIF + OP = WTF?

January 9, 2008 | Comments Off

Overland Park, KS is facing the prospect granting its first-ever Tax Increment Financing subsidy to renovate an obsolete strip mall in the northern half of Kansas City’s marquee suburb.  The location is across the street from one of KC’s two premier shopping malls. To date, this suburb has generally stuck with rare property tax abatements for a few big projects like the Sprint campus.

Now suburban leaders are wringing their hands over the idea of needing to use more aggressive tax breaks to revitalize what was once prime sprawlsville. At the same time, the suburb is working to annex a huge chunk of semi-rural land beyond the southern fringe of the metro area.

Anyone else notice the irony of a city dealing with the consequences of its own actions?

Categories: Business, Real Estate, Suburbs


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