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City highlights economic-development incentives, TIF payments and a Westside CID amendment
Summary
Staff reported $1.7 million allocated for economic development (including TIF-related payments), a Chapter 3.53 downtown redevelopment plan to be brought to the board in October and a proposed Kearney Westside CID amendment to fund larger water and sewer infrastructure.
City Administrator Sheila told the board the $1.7 million allocated for economic development in the FY25 budget includes activity taxes and payments in lieu of tax tied to the Shops at Kearney TIF, and described that TIF as having "greatly expanded the city's tax base" when it was approved. She said staff will bring a Chapter 3.53 redevelopment plan to the board in October focused on downtown, and that staff is working on an amendment to the Kearney Westside CID to allow CID revenues to fund larger water-line and public sewer improvements within the district if property owners approve.
Sheila also reported staff is working with the Kansas City Area Development Council and that several Innovation Business Park lots are under contract. The board discussed using economic-development incentives to attract higher-wage manufacturing and mixed-use development and signaled support for continued outreach and an October presentation of the redevelopment plan.
