Tag: TIF districts
Exchange Place incentives, including free sales tax and an ethics bypass
A downtown Wichita project receives free sales taxes and a bypass of Wichita’s code of conduct for city council members.
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.
Tax increment financing (TIF) resources
Resources on tax increment financing (TIF) districts.
Wichita TIF projects: some background
Tax increment financing disrupts the usual flow of tax dollars, routing funds away from cash-strapped cities, counties, and schools back to the TIF-financed development. TIF creates distortions in the way cities develop, and researchers find that the use of TIF means lower economic growth.
Economic development in Wichita: Looking beyond the immediate
Decisions on economic development initiatives in Wichita are made based on “stage one” thinking, failing to look beyond what is immediate and obvious.
Wichita economic development items
The Wichita city council has been busy with economic development items, and more are upcoming.
Tax not me, but food for the poor
This is Union Station in downtown Wichita. Its owner has secured a deal whereby future property taxes will be diverted to him rather than funding the costs of government like fixing streets, running the buses, and paying schoolteachers. This project may also receive a sales tax exemption. But as you can see, the owner wants…
Old Town Cinema TIF update
The City of Wichita Department of Fiance has prepared an update on the financial performance of the Old Town Cinema Tax Increment Financing (TIF) District. There’s not much good news in this document.
What incentives can Wichita offer?
Wichita government leaders complain that Wichita can’t compete in economic development with other cities and states because the budget for incentives is too small. But when making this argument, these officials don’t include all incentives that are available.
