Search Results for: Burk

For Wichita’s David Burk, subsidy machine is working again

For Wichita real estate developer David Burk of Marketplace Properties, being on the receiving end of sweetheart lease deals with the City of Wichita is becoming a habit. According to a letter of intent approved by the city council -- and sure to become law after a public hearing at a meeting of the Wichita City Council on September 13th -- the city is planning to build about 8,500 square feet of retail space in a downtown parking garage. The garage is being built, partly, to serve a hotel Burk and partners are developing. Here are the details of the deal Burk and his partners are getting from the taxpayers of Wichita: The city plans to lease this space to Burk and $1.00 per year. Not $1.00 per square foot,…
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Despite allegations, Wichita’s Dave Burk remains favored

As Wichita proceeds with the redevelopment of its downtown, one developer seems to be on the cutting edge of harvesting corporate welfare -- despite his past behavior. Last year this person, Dave Burk of Marketplace Properties, acted in a way the Wichita Eagle described as deceptive in order to reduce his property taxes. Yet, Burk remains a favored developer at city hall, and he's soon going to ask taxpayers to pay higher taxes for his benefit. These are the same taxes he himself doesn't like to pay. The following article from February 2010 explains. Today's Wichita Eagle contains a story about a well-known Wichita real estate developer that, while shocking, shouldn't really be all that unexpected. The opening sentence of the article (Developer won tax appeal on city site) tells…
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David Burk, Wichita developer, overreaches

Today's Wichita Eagle contains a story about a well-known Wichita real estate developer that, while shocking, shouldn't really be all that unexpected. The opening sentence of the article (Developer won tax appeal on city site) tells us most of what we need to know: "Downtown Wichita's leading developer, David Burk, represented himself as an agent of the city -- without the city's knowledge or consent -- to cut his taxes on publicly owned property he leases in the Old Town Cinema Plaza, according to court records and the city attorney." Some might say it's not surprising that Burk represented himself in the way the Eagle article reports. When a person's been on the receiving end of so much city hall largess, it's an occupational hazard. And when you've been the…
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Wichita city council to decide between rule of law, or rule by situation

Tuesday's Wichita City Council meeting will provide an opportunity for the mayor, council members, and city hall staff to let Wichitans know if our city is governed by the rule of law and proper respect for it, or if these values will be discarded for the convenience of one person and his business partners. Here's the situation: a person wants to gain approval of a tax increment financing (TIF) district project plan. This requires a public hearing, which the city has scheduled for September 13th. But this schedule doesn't suit the applicant. He has a personal business need -- an expiring purchase option -- and wants the city to issue a letter of intent stating that the city intends to do all the things that are the subject of the…
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Wichita drops taxpayer protection clause

To protect itself against self-defeating appeals of property valuation in tax increment financing districts, the City of Wichita once included a protective clause in developer agreements. But this consideration is not present in two proposed agreements. When the Wichita Eagle reported that a downtown developer represented himself as an agent of the city in order to cut his taxes on publicly owned property he leases in the Old Town Cinema Plaza, city officials were not pleased. The property in question is located in a tax increment financing district. Incremental tax revenue from the property is earmarked for paying off bonds that were issued for the property's benefit. If tax revenue is reduced from original projections -- perhaps because the tax valuation was appealed -- the tax revenue might be insufficient…
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