MP Westbrooke North, LLC, has entered into discussions with the Shawnee Economic Development Council and City staff to request the approval of incentives to develop a new mixed use, residential, retail and restaurant center at the northeast corner of 75th Street and Quivira Road.
The proposed project includes approximately:
- 108,500 square feet of retail and restaurant
- 530 market rate residential units with associated parking structure
The proposed timeline for the project is over a three year period from 2018 through 2020.
The public/private partnership total estimated project budget is $113 million. MP Westbrooke North, LLC proposes private investment from the developer of $87.7 million and requests a total of approximately $25.3 million in City participation from the following sources:
MP Westbrooke North, LLC also requests of the use of Industrial Revenue Bonds for sales tax exemption on construction materials only, in the estimated amount of $3.2 million.
- $5.6 million from a 1.5% Community Improvement District (CID)
- $19.7 million in Tax Increment Financing (TIF)
- $16.2 million from 100% of the new property tax generated within the District
- $3.5 Million from 100% of the 1% regular City sales tax increment (would not affect special sales tax)
October 9 meeting (pdf)
For more information about other Private/Public Partnerships in Shawnee, click here.
On September 11, 2017, the Governing Body approved a Funding Agreement with MP Westbrooke North, LLC. The funding agreement will require the developer to reimburse the City for costs associated with the analysis needed to work through the process up to the point of the Governing Body considering any incentives.
On October 16, 2017, the Planning Commission will consider changing the area from the current commercial designation to mixed use. The meeting is at 7:30 pm in the City Council Chambers.
A public hearing has been set for November 13, 2017 at 7:00 pm in the City Council Chambers to consider establishing a Redevelopment District for the area.