Commissioners approve TIF for 69th Street North/Broadway redevelopment to remove land from floodplain and spur housing

The Sedgwick County Commission voted unanimously on April 22 to authorize tax-increment financing (TIF) for a redevelopment district southwest of 69th Street North and Broadway, a 145-acre site Park City has identified as largely in the 100‑year floodplain.

Deputy CFO Brent Shelton told commissioners about the developer’s plan to invest about $70 million in primarily residential construction (an estimated 400 units across single-family, duplex, four‑plex and multifamily product) and to fund a $4.2 million detention basin to raise pad elevations on developable portions of the property. Shelton said FEMA maps show roughly 84% of the site is within the 100‑year floodplain and that the TIF would pay the basin cost and related infrastructure. He explained the city intends a single project plan covering the whole district on a 20‑year clock and that the district includes a provision to distribute 25% of incremental tax revenue to underlying taxing entities immediately as development begins.

Staff analysis concluded the site is TIF‑eligible and that the developer’s proposed private investment produces a strong private‑to‑public leverage ratio (approximately 17:1) and includes developer guarantees for revenue shortfalls. Commissioners discussed fiscal risk and fire‑district impacts; Shelton noted current county revenue from the property is small (about $150 annually attributed to county share) and projected county receipts could grow to the mid‑five figures annually as development proceeds. Commissioner Rice and others supported the project as a way to take property out of the floodplain and create affordable housing.

Commissioner Beatty moved and the board adopted the recommended resolution authorizing creation of the redevelopment district and use of TIF; the clerk recorded a 5–0 vote.