The latest tax incentive plan for the Brookridge development in Overland Park could result in a maximum of $158.58 million in property tax increment money and $46.5 million from a sales tax add-on within the 212-acre Brookridge Golf and Fitness property. The public will get a chance to comment on it at the Dec. 2 council meeting.
The public financing plan revealed at City Hall Monday night was the most comprehensive and detailed so far, with a complex set of tiers that govern what steps developer Curtin Property Company has to take to earn each level of financing. It also sets a limit on the window for tax incentives by setting the end of 2027 as the last date the final project area can be proposed. That effectively means the tax increment money would end no later than 2048.
The most immediate part of the project is in the area on the southeast corner of 103rd Street and Antioch Road and comprises the first two project areas, and that is the part that is addressed in the proposal.
Under the agreement, Curtin is required to erect only the first building, a 317-unit multifamily complex, plus street improvements along 103rd Street and Antioch. If that is all that is ever built, the total TIF money would be $15 million and sales tax money $3.4 million.
The rest of the public financing would be achieved in steps as Curtin builds more office and retail space.
Two sales tax districts would add 1.5% to the base sales tax rates. However if a grocery store goes up in the district, it would be exempted from the sales tax. Most of the incentive money would go toward building the parking garages, according to a staff analysis.
The agreement says the 27-hole golf course will have to be reduced to 9 or 18 holes to develop the site. Developer Chris Curtin is not obliged to continue a golf operation, but the agreement says he would keep the green space of any unused or demolished links until time to build the last project area. The clubhouse also is expected to remain until construction reaches that part of the acreage.
The green energy plan recently announced for the project is also a part of the agreement. Brookridge could lose $1 million per office building from its TIF cap if it does not get timely certification for LEED Zero energy from the U.S. Green Building Council. Curtin recently announced Brookridge will be powered 100 percent by renewable energy.
Council members said they liked that the plan gives a lot of details for citizens to comment on. But a few emphasized that their yes votes were only to set a public hearing so citizens can speak their minds.
“How we vote tonight should be absolutely no indication of whether or not we ultimately are going to approve these. My vote is merely so the public can talk,” said Councilmember Dave White.
Councilmember Faris Farassati said the latest effort was basically a repackaging of previous plans. “I think we are well aware of where people stand,” he said. “On the fact that we have already heard from people repeatedly I don’t find any logical basis to change my opinion.”
Brookridge neighbors have steadfastly resisted the development, citing the lengthy disruptions of the construction and possible drainage problems. A few were present Monday, although there was no public comment time.
“We’re kicking the can down the road to the city council,” said Bob Miller, who has frequently appeared to object to the project.
Miller and Wayne Smith said they expect a big crowd for the public hearing.