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Topeka approves TIF district and 20‑year tax rebate to back $13M rehab of Capital City Town Homes
Summary
After a lengthy public hearing, Topeka’s governing body created a tax‑increment financing district, approved a 20‑year Neighborhood Revitalization Program rebate, and signed a development agreement to support a $13 million rehabilitation of the Capital City Town Homes, preserving most units as affordable and requiring tenant relocation protections.
The Topeka governing body voted unanimously April 21 to establish a tax‑increment financing district and approve a 20‑year Neighborhood Revitalization Program (NRP) rebate to support the $13 million renovation of the Capital City Town Homes at 21st and Adams.
Deputy City Manager Braxton Coffee told the council the owner’s financial plan requires the NRP plus‑20 to meet underwriting requirements and preserve long‑term affordability: “The developer needs a 20‑year NRP to be able to meet the underwriting requirements,” Coffee said, and staff recommended formation of a TIF district so the project could qualify for the extended rebate and meet the state’s statutory criteria for blight.
Developer Tony Kresnik of Flint Hills Holdings described a rolling rehabilitation meant to keep most units affordable and to limit…
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