The Topeka City Council plans next week to discuss creating a tax-increment financing district that would include downtown Topeka and North Topeka’s NOTO area.
Downtown Topeka Inc. requests that the city establish the “Dynamic Core Redevelopment District,” which would be bounded by S.W. 17th on the south, NOTO on the north, S.W. Topeka Boulevard on the west and S.E. Adams on the east, according to a document in the agenda packet for Tuesday’s meeting. Kansas law allows government entities to create TIF districts to help offset development costs and to try to attract developers. Developers pay off costs over a period of up to 20 years using the increase in property tax and sales tax revenues. TIF districts may be established in blighted areas, aging or underperforming areas that aren’t blighted, and in some other locations.
Deputy city manager Doug Gerber said those other sites include “enterprise zones” established by cities to promote economic development before the law involved was repealed in 1992 and replaced with legislation that made the credits involved available statewide.
The area being considered for the Dynamic Core district is part of an enterprise zone the city of Topeka established in 1991.
(Read more: Local Government – The Topeka Capital-Journal)