Independence council hears first readings for Wally’s redevelopment, TIF and Chapter 100 benefits

The Independence City Council on Dec. 8 held a special meeting to take public comment and read on first reading a package of ordinances that would enable Wally’s to redevelop the former Kmart site at I-70 and Nolan Road into a travel center.

City staff introduced a tax-increment-financing plan that would capture portions of property- and sales-tax growth generated by the redevelopment to reimburse public improvements. Staff said the developer has requested up to $8.6 million in reimbursements, of which $7.6 million would be reimbursed to the developer and $1 million would be directed to city transportation improvements within the Nolan Road corridor. The staff presentation also placed TIF exhibits 1–10 into the record and described a blight study supporting a blight finding for the redevelopment area.

Kirk Peterson, representing Wally’s, told the council the company acquired the troubled site, reimbursed the city $200,000 for demolition costs and paid $2,000,000 in back taxes to bring the property current. He described the project as…