Daily Archives: April 25, 2011

City flips on idea to limit uses of special tax districts downtown

Real Development's Exchange Place project is one of several redevelopment plans financed in-part by TIF dollars.

Officials with the city and the Wichita Downtown Development Corporation said last week their evolving public incentive policy for downtown included limiting the use tax increment financing.

Under the initial proposal, TIF money wouldn’t be used to buy land for developers or cover the costs of demolishing blighted buildings.

But they’ve changed their minds.

In an e-mail Monday, Terry Cassady, the city’s development assistance director, said that the plan will now allow developers to use TIF dollars in any way state law allows, which includes land acquisition and demolition.

The move comes just a day before she and other downtown officials present their investment policy to the city council in a 9:30 a.m. workshop. Read More »