In KC, Brookridge Redevelopment to Utilize TIF and Bonds
It took Curtin Property Co. more than two years to win preliminary plan approval for its $1.8 billion mixed-use redevelopment plan for the Brookridge Golf & Fitness site. Now, proposed changes to one portion of the project are prompting the developers to go through the process again. The total amount of incentives the developer is eligible to receive through tax increment financing and Kansas sales tax revenue (STAR) bonds is about $550 million.
Editorial: Political Winds are Variable When it Comes to OK Power Laws
Wind power is a growing business. Lawmakers have noticed. While Gov. Mary Fallin's proposed wind power tax has not exactly taken flight, the Oklahoma Legislature is moving forward on other fronts.
Revenue Bonds to Finance Kansas University Infrastructure Improvements
The University of Kansas is tentatively planning for $184 million in capital improvements over the next six years — primarily renovations to campus housing, the Kansas Union and Memorial Stadium. Revenue bonds will help finance three of these improvements.
Bill Eliminating Wind Incentives to Slow Development of Wind Farms in OK
The construction of wind farms in Oklahoma could slow dramatically following the passing of HB 2298. Farms that have already started construction or have been completed will continue to receive their subsidy for remainder of their 10-year contract.
CDFA National Summit Call for Submissions
CDFA is accepting sessions submissions for the 2017 National Development Finance Summit in Atlanta this November. Session submissions on deals, projects or programs that include multiple funding sources are highly encouraged. Submissions are due by May 12, 2017.
Retail Projects in Midwest City on the Rise Thanks to TIF
While the Midwest City, OK, Town Center Plaza took $7 million in tax increment finance dollars and some time to come together, it's spectacularly successful. It boasts a variety of retail stores, including a Lowe's, a Target, a Kohl's, a Best Buy, a J.C. Penney and a PetSmart, and restaurants such as Panera, Mutts Amazing Hot Dogs and Burgers, Fat Daddyz Crawfish and many more.
OKC Extends Life of Area's TIF District
Among many recent developments to move on developing OKC's innovation district, city officials have amended the area's tax increment financing district to extend its life and to provide money for STEM-oriented education that could benefit both the innovation district and residents.
Oklahoma Governor to Decide Fate of Wind Energy Tax Credits
The Oklahoma Senate gave final approval to a measure ending income tax credits for wind production more than three years early. House Bill 2298 now heads to Gov. Mary Fallin, who asked for the early sunset legislation in February.
KS Lawmakers See Potential for Revenue by Limiting Local Tax Breaks
A bill in the Legislature could restrict tax breaks that cities and counties offer companies as incentives. The goal of doing so would be to stop abatements from suppressing the amount of money collected for public schools.
OK Senate Committee Advances Restrictions on New Tax Incentives
Given the state's budget problems, a lot of attention is being paid to Oklahoma's various tax incentives, and lawmakers are considering a measure to restrict them. House Bill 1187 would limit how long new incentives would be offered.
Tax Abatement Renewal Application & Report Sample
This sample is an annual questionnaires used by Lawrence, KS to collect economic development compliance information from the recipients of tax incentives.