Capital and Economic Development Projects

Overview

• Established by the City Council on December 17, 2012 pursuant to Ordinance No. 18038
• Approximately 386 acres and includes 4 Redevelopment Project Areas
  • Project Area #1 includes the Menards; TIF capture will terminate on December 16, 2035
  • Project Area #2 includes the Independence Events Center property and the EATs captured within Project Area #1 generated by the Events Center CID sales tax are pledged to the Independence Events Center obligations
  • Project Area #3 includes Crackerneck Center and includes retail commercial and service commercial uses; TIF capture will terminate on December 17, 2035
  • Project Area #4 includes the Crackerneck Creek TIF
    • TIF was not activated within Redevelopment Project Area #4, and the PILOTs and EATs captured within the Crackerneck Creek TIF Area are captured pursuant to the Crackerneck Creek TIF
    • The TIF Revenues captured within Project Area #1 and Project Area #3 are pledged to pay the obligations associated with the Crackerneck Creek TIF

Revenue Sources

• Redevelopment Project #1: The Quiktrip store and Menards store located generally at the northeast quadrant of I-70 and Little Blue Parkway generate PILOTs and EATs pursuant to the I-70 and Little Blue Parkway TIF Plan.
  These revenues are dedicated to the repayment of the Crackerneck Creek debt.
• Redevelopment Project #2: The development located at the northwest quadrant of I-470 and Highway 40 (Main Event, Old Chicago, Slim Chickens, Charlie’s Car Wash) generate PILOTs and EATs pursuant to the I-70 and Little
  Blue Parkway TIF Plan. These revenues are dedicated to the repayment of the Crackerneck Creek debt.