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K‑State consultant outlines north‑campus TIF proposal; board told 28 school mills remain protected
Summary
Trent Armbrust of the Kansas State University Foundation presented the Edge 3 development and a proposed 15‑acre TIF district at Kimball & College, explaining that 28 school mills are protected by statute and estimating the corner could generate roughly $1.8 million per year in property tax revenue by year 20.
Trent Armbrust, a consultant with the Kansas State University Foundation, briefed the board on Edge 3 — a large north‑campus development that would be supported by a combination of star bonds, a tax increment financing (TIF) district and a community improvement district (CID).
Armbrust described project elements including a new Agronomy Research and Innovation Center, a biologics processing facility, an EdgeTech prototyping hub, the Bilberry Family Events Center (an equine arena) and a commercial corner dubbed ChampionsGate with hotels, restaurants and residential units. He said the proposed TIF footprint is a small, 15‑acre parcel at Kimball and College and that certain school levies are statutorily protected.
"When this under state statute for TIF creation, certain mills are protected. In the case of the school district, 28 mills by state statute, we cannot collect and use towards the TIF project. So you will still receive those 28 mills on the growth of the district immediately," Armbrust told the board, explaining that those protected mills would deliver tax revenue to the district as development creates taxable value.
Armbrust also presented high‑level capital‑stack figures: Edge 3 is a roughly $297 million development; star bonds were shown at about $24 million, TIF participation at about $11 million and a CID at roughly $13 million, with the remainder from private and federal/state sources. He said the developer (the KSU Foundation) would carry the project risk and that the city would not take on debt for the projects he described.
Board members asked technical questions about which portions of levies are protected (bond and capital outlay mills were discussed) and about revenue timing. Armbrust said the city adopted a resolution to hold a public hearing on June 16 to establish the districts; if the ordinance passes, the school district and county will be notified and a 30‑day veto period follows. Detailed project costs and potential reimbursements will be presented at later public hearings anticipated in August.
Board members expressed interest in receiving more detailed mill‑by‑mill and revenue projections before any final decisions and noted the district could receive immediate tax revenue for the protected mills once taxable value is established in the TIF footprint.
