A public hearing date was proposed for the Yards II apartment redevelopment project east of the Kansas River, west of State Line Road, north of Kansas Avenue and south of I-670 in Kansas City, Kansas. The development is near the Rock Island redevelopment project at the Kansas River.
The proposed public hearing on the first phase project plans will be Oct. 29, according to officials at the Unified Government Economic Development and Finance Committee meeting Monday night.
Another public hearing on the project is coming up this week. Katherine Carttar, Unified Government economic development director, said a public hearing is scheduled Thursday, Aug. 13, for the proposed tax increment funding district, the Riverfront Redevelopment District, and a resolution adopting the development agreement for the Yards II Apartments.
The developer, Flaherty and Collins, will build a first-class river overlook apartment building, she said. It will complement the work being done on the levee, she added.
The first phase, with project costs of $40.7 million, will have 225 to 245 units, she said. It would have about 6,000 square feet of retail space.
The project includes a health and fitness center, outdoor kitchen and grills, patio space, and a dog park, she said.
The incentives for the first project area include a pay-as-you-go TIF, with no bonds; a public incentive cap of $11 million and not more than 23 percent of the total project cost; and equal to 100 percent of the increase in property taxes for project area 1 for up to the maximum 20 years, according to UG information.
According to Carttar, the project is expected to stimulate future riverfront development; bring residents to the Kansas side of the stockyards district and West Bottoms; increase sales tax and PILOT revenues; and leverage the Kansas River as an asset.
Stimulating residential development brings additional development to an area, she added.
The project was also moving through the zoning process on Monday night at the City Planning Commission meeting.
The EDF committee approved the hearing date, and the item will go to the full UG Commission.
Quindaro Ruins trust to come back to later meeting
Also on Monday night, commissioners delayed a proposal to establish a Quindaro Ruins trust after Commissioner Gayle Townsend requested more information on it, including a more detailed map.
The proposal is an agreement between Western University Association of the AME Church and the Unified Government to form a trust to own property, seek grants and donations and develop the Quindaro Ruins project. The commission did not discuss the details of the project on Monday night at the Neighborhood and Community Development meeting. The project is expected to come back to a future NCD Committee meeting.