Tag: Tax abatements
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Wichita’s Jeff Longwell on TIF districts, tax abatements
Is a tax increment financing (TIF) district a tax abatement? Wichita city council member Jeff Longwell, now Wichita’s vice-mayor, doesn’t think so. During this week’s city council meeting, Longwell said this in explaining his support of a TIF district created for the benefit of Real Development: “One of the things that people I think need…
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Wichita Larksfield Place bonds should not be issued
Today’s meeting of the Wichita city council will have a public hearing concerning the issuance of health care facilities revenue bonds for Larksfield Place, a decidedly high-end retirement and assisted living center in east Wichita.
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Wichita Exchange Place TIF should be rejected
Tomorrow’s meeting of the Wichita city council will feature a public hearing as to whether a tax increment financing district that benefits Real Development should be modified.
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Wichita Warren Theater IRB a TIF district in disguise
On Tuesday the Wichita City Council will consider an economic development incentive for a local business. The process the city is using to grant this incentive bypasses the scrutiny that accompanies the formation of TIF districts while providing essentially the same benefit.
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Will the real robber barons please stand up?
At the April 13th meeting of the Wichita City Council a request from downtown developer Real Development will be made for an additional $2.2 million taxpayer subsidy for its condo project Exchange Place, located at Douglas and Market. With two weeks to go before this public hearing there is still time for council members to…
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Kansas sales tax exemptions don’t hold all the advertised allure
Advocates of eliminating sales tax exemptions in Kansas point to the great amount of revenue that could be raised if Kansas eliminated these exemptions, estimated at some $4.2 billion per year. Analysis of the nature of the exemptions and the amounts of money involved, however, leads us to realize that the additional tax revenue that…
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Wichita city council signals possible change in economic development incentive policy
At today’s meeting of the Wichita City Council, discussion by council members and their vote may signal a change in the city’s stance toward economic development incentives.
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Arizona case rules on economic development subsidy
In its press release titled Arizona Supreme Court Strikes Down Future Taxpayer Subsidies, the Goldwater Institute reports on a ruling by the Arizona Supreme Court that dealt a blow to government subsidies for the purpose of economic development.
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Wichita makes case for tax credits
At yesterday’s meeting of the South-central Kansas legislative delegation with government officials, the City of Wichita spent most of its time presenting the case that cuts made to a program of tax credits for historic buildings should be restored.
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Wichita city council discusses economic development incentives, again
At this week’s meeting of the WichitaCity Council, underperforming companies that have received economic incentives was at issue.
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Wichita city council discusses economic development incentives
Last week a Wichita company that’s expanding made an application for industrial revenue bonds and accompanying property tax abatements. The company’s application wasn’t timely, and for that reason is not likely to receive the requested help. The discussion surrounding the item provides insight into city council members’ ideas about the role of the city in…
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Uncertainty over Broadview’s future doesn’t bother Wichita
Yesterday the Wichita City Council approved plans for riverbank improvements that would benefit the Broadview Hotel in downtown Wichita. The cost is $2,200,000. One of the problems with this action is that the renovation of the hotel is on hold, according to recent reporting. The reason given by the hotel’s owners, Drury Southwest Inc., is…