KCRag Forum

Despite the gibberish above, this is actually a very important site in NEJoCo

rxlexi wrote:

Despite the gibberish above, this is actually a very important site in NEJoCo

Interesting to consider Antioch and 435 "NE JoCo".

While I think you're correct about this becoming largely SF homes, the use of STAR bonds in a location with such highway access is potentially intriguing. Would be cool to see another major metro asset created here a la the National Soccer Center, the semi-rumored Oz theme park, etc.

WSPanic wrote:103 & Antioch = Brookridge

95 & Nall = Meadowbrook

Without a link, it's difficult to tell which development the original post is referring to.

Brookridge Golf & Fitness in Overland Park has been sold for the second time in five years.

Curtin Property Co. of Overland Park purchased the 200-acre country club at 8223 W. 103rd St. from Capital Foresight, a Los Angeles-based investment firm.

Capital Foresight purchased two financially struggling golf properties in Johnson County — Brookridge Golf & Country Club in 2011 and Leawood South Country Club in 2013 — and attempted to revive both by converting their banquet space into fitness centers.

Chris Curtain, CEO of Curtin Property Co., was not immediately available to discuss his firm's plans for Brookridge. It is one of three Johnson County country clubs whose futures are now in question.

mgsports wrote:No Antioch Road and 435 is where it is.

Sales tax revenue, or STAR, bonds will be pursued for redevelopment of the 200-acre Brookridge Golf & Fitness club at the northeast quadrant of Interstate 435 and Antioch Road in Overland Park.

But city officials don't yet know and the developer isn't saying what land use is being planned that would qualify for STAR bonds.

Chris Curtin, CEO of Curtin Property Co., was not immediately available to discuss his firm's plans. But according to the city staff memo, the firm intends to submit plans for the site next Tuesday and will propose the use of several economic-development tools, including STAR bonds, tax increment financing, community improvement district financing and economic development revenue bonds.

During Monday's Committee of the Whole meeting, the memo states, the developer will provide information about the proposed uses and will request that the City Council begin taking actions allowing consideration of various incentives to proceed.

Among other things, the developer is expected to ask the council members to direct city staff to submit the proposed STAR bond district to the Kansas Secretary of Commerce for determination of its eligibility for STAR bond financing.

The developer...is proposing a performing arts center that would be central to the 210-acre site.

Overland Park Development Co., led by by Curtin Property Co. CEO Chris Curtin, plans to seek Kansas sales tax revenue, or STAR, bonds for the project. The performing arts center is being proposed as the tourist attraction that would make the project eligible for the incentive.

...the performance venue would be iconic and would host local, regional, even national attractions ranging from concerts to Broadway plays.

Despite the lack of detail, the council's committee of the whole voted 10-0 to advance the yet-to-be-named project by directing staff to initiate a STAR bond eligibility review with the Kansas Department of Commerce and schedule public hearings related to other planned incentive requests.

shinatoo wrote:Considering that they can't even fill up the Sprint campus I'm not sure why they are so certain about another development of the same type filling up. And did they say "create 20,000 jobs" with a straight face. Probably meant, in the kindest way, "attract". Or as we would say, steal through state funding.

joshmv wrote:Overland Park council approves public financing step for project...

http://www.kansascity.com/news/local/co ... 18347.html

The action taken by the council on Monday night, however, does not approve any financial incentive or any specific amount. It simply deems the project eligible to move forward in the lengthy process toward that goal.

Overall, the developer is tentatively seeking about $610 million in public funding, which also includes a community improvement district, and $27 million in cash from Overland Park’s general fund between 2015 and 2017 for land and infrastructure.