Saying it was better than having unfinished building in the heart of downtown, the Overland Park City Council approved a new set of deadlines that would partially restore some tax incentives to the Market Lofts project at 80th Street and Marty Street.
One after another, the 12 council members said they weren’t wild about a compromise that was worked out last month in committee. And they warned that if the new deadlines requiring the exterior work be done before the Farmers Market begins are not met, the city should call a default on the tax increment financing deal with developer Paul Goehausen.
However, “the ultimate goal of everybody on the committee is to get this project done,” said Councilmember Dave White, who is chairman of the council committee that worked out the new deadlines.
The developer, who has repeatedly missed deadlines for more than a year, will lose about $200,000 of TIF money no matter what happens.
(Read more: Prairie Village Post – Neighborhood news and events for Prairie Village, Fairway, Mission Hills)