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Lenexa council approves amended TIF, CID and IRB actions for 87 Renner mixed-use project
Summary
The Lenexa City Council approved a set of amendments and authorizations for the 87 Renner mixed‑use development, including an amended TIF project plan, amended DDAs, a community improvement district (CID) agreement, and a resolution of intent to issue about $57 million in industrial revenue bonds (IRBs).
The Lenexa City Council voted to approve multiple amendments and authorizations to support the 87 Renner Boulevard mixed‑use project at the northeast corner of Renner and 80th Street.
Sean McLaughlin, the city attorney, told the council the project dates to about 2018 and has passed through multiple developers. He described the current plan as a mixed‑use development with approximately 215 multifamily units across two buildings and about 10,000 square feet of ground‑floor commercial and retail space. McLaughlin summarized the financial incentives before the council: a TIF reimbursement cap of $10,100,000 (with an initial city payment of $481,000 for SBD assessments), a 1% community improvement district (CID) sales tax with a maximum reimbursement of $1,750,000, and approximately $57,000,000 in industrial revenue bonds (IRBs) for sales‑tax exemption purposes.
Councilmembers moved and passed five separate motions covering the package: approval of the second amended TIF project plan (Project Plan 4C), approval of the amended and restated TIF disposition and development agreement (DDA) assignment to the new developer (PPR E 87 Renner LLC), approval of the amended and restated CID development agreement, adoption of a resolution determining the city’s intent to issue approximately $57,000,000 in IRBs, and a resolution authorizing project conveyance and associated documents related to the city’s Series 2022 IRBs. Staff recommended approval of the full package and developer representatives were available to answer council questions.
Council discussion included a clarification about photographs in the presentation and a question about the size of the previously issued IRBs; McLaughlin said the prior issuance had been $20,000,000 and the new amount increases to approximately $57,000,000 to meet the developer’s financing needs. Motions were moved and seconded by councilmembers identified in the record as Bill, Craig, Chelsea, Melanie and Mark; for each motion the council recorded “All in favor” and the motions passed.
Council also approved termination of the previously issued 2022 IRBs as part of cleaning up and reissuing the financing documents under the new developer’s name. McLaughlin and staff said the IRB issuance is limited to sales‑tax exemption and does not encumber the full project scale.
