Committee sends Hunt Midwest Metcalf redevelopment back for negotiation after policy variances on TIF, land reimbursement and attainable units

The Finance, Administration & Economic Development Committee on June 18 reviewed a proposed redevelopment at 8036 Metcalf submitted by Hunt Midwest and directed staff to continue negotiations with the developer after hearing argument and receiving policy variances on several financial terms.

Project summary Hunt Midwest proposed a mixed-use project on a downtown Overland Park site that would include 226 multifamily units, roughly 5,000 square feet of commercial space and structured parking (about 350 stalls, with staff noting 58 stalls would be publicly available). The developer's total project budget was presented as approximately $87,800,000.

Requested incentives The developer sought a package of pay-as-you-go incentives: tax increment financing (TIF) for public-eligible costs, a 1% community improvement district (CID) for 22 years (requested cap $375,000), and an economic-development revenue bond (EDRB) to exempt sales tax on construction materials. The developer requested that the city consider a 100% capture of the TIF increment; staff's proposal reflected city policy and recommended 90%.

Four policy variances under debate Staff identified four principal…