The company that owns multiple retail properties at the southeast corner of S.W. 17th and Wanamaker Road will be allowed to raise the sales tax customers pay there by 1 cent, and to use the revenue to help finance renovation costs.
Topeka governing body members voted 8-2 Tuesday evening to establish a community improvement district covering those properties owned by Fort Wayne, Ind.-based Equity Investment Group Wanamaker LLC. Tuesday’s move levies a 1 percent tax on retail sales and services within the district involved. The tax will be in effect for as long as 22 years, with revenues reimbursing private investment in a $31.4 million renovation project being carried out by EIG.
The project cost could amount to as much as “just south of $34 million,” said deputy city manager Doug Gerber.
(Read more: Political – The Topeka Capital-Journal)