Leawood City Administrator Scott Lambers on Monday told members of the council that he supported an application from the Regnier family, owners of Ranch Mart North, for the creation of a community improvement district there that would increase sales tax to pay for a portion of the redevelopment of the center.
Under the terms of the draft agreement presented at a council work session, a 1 percent sales tax would be added to all transactions at the Ranch Mart North stores — including the Price Chopper grocery store — starting in either the summer or fall of 2020.
The shops’ ownership would have access to reimbursements of up to $13.45 million from that additional sales tax to cover certain costs from the redevelopment. The redevelopment is projected to cost $47 million, so the reimbursable expenses under the CID would amount to 28.7 percent of the total cost. The tax would be in place for a term of 22 years.
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