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Posts tagged as “Wichita city council”

Downtown Wichita Arena TIF District Testimony

At the December 2, 2008 meeting of the Wichita City Council, John Todd and I testified against the expansion of the Center City South Redevelopment…

Jim Skelton is Frustrated

At yesterday’s meeting of the Wichita City Council, council member Jim Skelton expressed his frustration with last-minute additions to the plan for the Center City…

Wichita Mayor Carl Brewer, August 12, 2008

Wichita Mayor Carl Brewer believes that without government oversight and planning of our economy, Wichita would revert back to the way it was at its founding.

Remarks to Wichita City Council, April 1, 2008

By asking for the TIF financing, developers are sending us a signal that without the special tax favor, their project would not be economically feasible. They evidently have judged that it would not be profitable. They must feel that they will not be able to sell or rent at prices that will cover their costs of developing this project.

This means that proceeding with the project is investing capital somewhere other than its most-valued use. We know that because developers build other things in Wichita without receiving a subsidy, and they are able to earn a profit.

Testimony on the Wichita New Communities initiative

I am a Wichita area real estate broker and developer, and I am here to speak as a private citizen. I speak in opposition to the city’s $250,000 Funding proposal for the current New Communities Initiative Area, because I believe this program in reality, represents the resurrection of the failed government Urban Renewal housing programs of the 1960-70’s.

Tax increment financing in Wichita benefits few

How does a TIF district work? The Wichita Eagle reported: "A TIF district doesn't cost local governments any existing tax money. It takes property taxes paid on new construction that would ordinarily go into government coffers and redirects it to the bond holders who are financing the project."

Consider carefully costs of a new Wichita airport terminal

As Wichita considers building a new terminal at its airport, we should pause to consider the effect an expensive new terminal would have on the cost of traveling to and from Wichita, and by extension, the economic health and vitality of our town.

Wichita City Council Meeting, April 19, 2005

I was startled to hear this information, that the new contract has no dollar cap, as this has not been, in my memory, reported. It has been reported that AirTran sought a no-cap contract, but that Wichita would not agree to that. But it turns out that the city has agreed to what, in effect, is a no-cap contract. Yes, I believe Mr. Bell when he says that Wichita can cancel the contract, with notice, if the city believes it will spend more than the $2.5 million it has committed to. I would submit, however, that if the City spends the $2.5 million and realizes it needs to spend more to keep AirTran in town, the City Council would vote to do so. Therefore, the no-cap contract is in effect.

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