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Shawnee nixes public financing for Bellmont Promenade, future of development unclear

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Shawnee is no longer working with the developers of Bellmont Promenade to allow public financing for the long-delayed mixed-use project.

Without discussion, the Shawnee City Council on Monday unanimously agreed to cease negotiations with the developer on developing a Community Improvement District to help finance the project.

Instead, the developer, Bellmont Promenade LLC (led by Kansas City, Mo.-based Legacy Development), will be on its own to fund the project. There was no public comment Monday, including any from the developer.

With the city council’s denial of any further efforts on public financing, the developer has no access to any of the previously approved public financing packages. In fact, it’s unclear whether the project will move forward at all.

Previous deal

Financing for the project had previously included:

  • public incentives package with a 90% tax increment financing, or TIF, property tax;
  • a 1% TIF city general sales tax;
  • a sales tax exemption for between $3 and 3.5 million in project costs;
  • a 1.6% CID sales tax;
  • CID special assessments;
  • and the issuance of $19.5 million in special obligation bonds.

City documents in October 2020 showed that the total cost of the development decreased from $98 million to $80.5 million, while the percentage of the public incentive contribution to the project at that time had increased from 19.9% to 24.2%.

Project details

Representatives of the developers have repeatedly stressed the need for public financing to support the project.

Located on 26 acres at the southwest corner of Shawnee Mission Parkway and Maurer Road, Bellmont Promenade has undergone multiple iterations over the years.

In that time, city leaders have expressed frustration with the delays as well as cautious optimism that the development could move forward by levying special assessments and a new funding agreement with the developers.

In a meeting in October 2020, Mayor Michelle Distler said the city has considered various proposals for the site for at least the past 15 years.

Legacy Development first got the city’s approval for a project in fall 2016, and the plans have changed multiple times since then.

The project, as it stands nows, comprises:

  • a mix of retail spaces totaling about 160,000 square feet;
  • two sites for restaurant or retail space of totaling roughly 10,000 square feet;
  • about 31,000 square feet of restaurant plaza space;
  • and roughly 150 multi-family residential units with residential amenities.

About the author

Leah Wankum
Leah Wankum

Hi there! I’m Leah Wankum, and I’m the Post’s Deputy Editor. I’m thrilled to call Johnson County home, and I’m deeply committed to the Post’s philosophy that an informed community is a strong community.

I’m a native of mid-Missouri, and attended high school in Jefferson City before going on to the University of Central Missouri, where I earned a master’s degree in mass communication.

Prior to joining the Post as a reporter in 2018, I was the editor of the Richmond News in Ray County, Missouri. I’ve also written for several publications, including the Sedalia Democrat and KC Magazine.

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