Fairway residents will soon have the opportunity to voice their opinion on a proposed sales tax add-on for the planned development at the former location of Stroud’s.
The Fairway City Council will hold a public hearing on Dec. 14 regarding the Community Improvement District petition for the proposed multi-tenant retail redevelopment at 4200 Shawnee Mission Parkway, the former Stroud’s location. A Starbucks with a drive-thru, retail businesses and restaurant are tentatively planned for the site.
Why it matters: At this point, the project is relying on a CID approval for its current financial plan, said Platform Ventures representative Brian Douglas. Douglas laid out the following four justifications for the city council to approve a 1.5 add-on sales tax at the new site:
- CID approval will encourage development in the city and provide appropriate development incentives to offset outside risks.
- It will help to shore up and grow Fairway’s tax base.
- It will have no negative impact on the city’s current tax base, as “it only burdens those who choose to patronize the establishments.”
- It will bring the developer a step closer to revitalizing the site.
Key quote: “To be candid, this project is not a certainty in its current state and we consider an approved CID to be a critical component of our business plan and to ensure the project moves forward according to our development plan,” Douglas said. “While we have had significant interest in the project we have no executed leases at this time and the post-COVID environment we find ourselves in is not likely to yield anymore stable conditions in the near future.”
What’s next: The city council will hold the public hearing at its regularly scheduled city council meeting on Dec. 14 prior to considering CID approval. The meeting can be accessed virtually through the city’s website.