Sedgwick County OKs TIF to Remove Floodplain, Clear Way for 400-Unit Development in Park City

Sedgwick County commissioners on April 22 adopted a resolution approving a redevelopment district and use of tax-increment financing (TIF) for roughly 145 acres southwest of 69th Street North and Broadway in Park City. Deputy CFO Brent Shelton told the board the FEMA maps show about 122 of the 145 acres — roughly 84% — are currently in the 100‑year floodplain and that the developer proposes an initial $4.2 million infrastructure investment to construct a detention basin and raise building pads.

Shelton said the planned private investment is about $70 million for residential and small industrial uses and estimated roughly 400 housing units could be built once the site is removed from the floodplain. He described the public–private leverage as strong (about 17:1 private to public) and noted the city and county would share an early portion of incremental revenue: “This project could generate modest county tax revenue in the near term and, if it fully builds out, could approach $150,000 a year in county tax revenue,” Shelton said. The board voted 5–0 to authorize the TIF and related resolution.

Why it matters: commissioners said the district remediates flood risk, adds housing supply and brings incremental tax revenue back to local taxing jurisdictions while maintaining existing tax levies on current property owners. The board’s fiscal review found there was not a material county revenue risk because the site now produces only a small amount of tax revenue and the developer is guaranteeing shortfalls and committing substantial private investment.

Next steps: the City of Park City will finalize a project plan that starts the statutory TIF clock and governs the distribution of incremental taxes; the county will monitor project plan details and incremental revenue distributions as development proceeds.