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Governing body approves developer agreement, RHID application and CID hearing notice for Lawrence Bay amid council concern
Summary
The Topeka governing body on March 18 approved a developer agreement, forwarded a reinvestment housing incentive district application to the Kansas Department of Commerce and set a public hearing for a community improvement district tied to portions of Lawrence Bay.
The Topeka governing body on March 18 approved a developer agreement with L.B. Lots LLC, authorized submission of a reinvestment housing incentive district (RHID) application to the Kansas Department of Commerce and set a public hearing on a proposed community improvement district (CID) tied to parts of the Lawrence Bay subdivision.
Supporters said the negotiated deal will deliver immediate funds to retire past-due special assessments on 16 lots and restructure remaining assessment debt to make monthly payments more comparable to nearby properties. Deputy City Manager Braxton Copley told the council the developer agreed to place funds in escrow — $2.25 per square foot for the 16 lots — with about $423,000 earmarked to pay outstanding past-due specials in full and roughly $102,000 to reduce principal on future specials that…
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