Advertisement

Archive for Tuesday, July 10, 2012

City to consider approval of incentives package for Ninth and New Hampshire development at July 24 meeting

July 10, 2012, 11:41 p.m. Updated July 11, 2012, 8:45 a.m.

Advertisement

Lawrence city commissioners are scheduled to debate at their July 24 meeting a multimillion-dollar package of incentives for development at Ninth and New Hampshire streets.

The city’s Public Incentives Review Committee agreed on a 5-1 vote to recommend approval of both tax increment financing and a special transportation development district sales tax to spur development on both the southeast and northeast corners of the Ninth and New Hampshire intersections downtown.

A development group led by Lawrence businessmen Doug Compton and Mike Treanor have proposed a multistory hotel/retail building at the southeast corner, and a multistory apartment/office building on the northeast corner. The hotel/retail building has won necessary land use approvals at City Hall, while plans for the proposed apartment building are still going through the city’s review process.

The incentives, which involve capturing new tax revenue generated by the developments, would be used to help pay for private, underground parking garages for both buildings, in addition to other infrastructure improvements. As proposed, the hotel/retail building also would be placed in a taxing district that would charge a special 1 percent sales tax that would be used to pay for infrastructure costs.

City commissioners will have the final say on whether the incentives package is approved.

An earlier version of this story had an incorrect date for commissioners' review of the incentives.

Comments

Phillbert 2 years, 5 months ago

Incentives are supposed to be used to "spur development" that wouldn't happen otherwise, not to pad the balance sheet of a project that's already been proposed.

Though at least they're not voting on giving "incentives" to a building that's already under construction like they did with the one across the street.

deec 2 years, 5 months ago

If Dougie can't afford to build it on his own dime, then it shouldn't be built. There was a business on that corner until the city pushed it out to to make the empty lot in the first place.

just_another_bozo_on_this_bus 2 years, 5 months ago

"Consider?"

Come on, we all know the rubber-stamp is already fully inked up and ready to go.

msezdsit 2 years, 5 months ago

Lawrence city commissioners to ask doug where to sign while apologizing thats all they could come up with.

blindrabbit 2 years, 5 months ago

Now that the SLT appears to be resolved, all of the gripers can not turn their attention to the next issue. Unfortunately for many of them there is not a proposal to return Lawrence to their "halcyon days" of the 1960's to which so many pine for.

somedude20 2 years, 5 months ago

A pizza with chicken and bacon plus a naked Hope Solo (not on the pizza) would be enough of an incentive for me to do almost anything

Richard Heckler 2 years, 5 months ago

Developers are very expensive budget items.

Just because speculators purchase property does not guarantee that construction will be allowed for it is NOT the duty of the taxpayer or local government to maximize profits for speculators.

There is one consequence of not necessary growth that usually goes unmentioned by the local media,city hall and elected officials - local profiteers are draining our pocketbooks and raising our taxes.

Higher taxes and user fees are financing the new wealth for the real estate industry. This is not economic growth. This is you and me paying for what should be paying for itself.

cozborn 2 years, 5 months ago

Question, why do millionaires need money to build this stuff, I would like an addition to my business, who do I ask at city hall to get them to pay for it?

mysterytrain 2 years, 5 months ago

Including parking? Private parking? Come on Lawrence, we can do better. We can. The tax money should go to the city, not back to Compton to line his pockets and build up his reserves. He's already had plenty of help from Lawrence with his other projects - it needs to stop. It's ridiculous -- and to think this is the best we can do for the heart of our downtown? Pretty unimaginative of such a unique town.

pizzapete 2 years, 5 months ago

Am I the only getting tired of reading about rising property taxes, water and sanitation fees, expensive trash carts, new taxes for library, police, parking, etc., etc.? Am I the only one tired of developers asking the taxpayers for help paying for their projects and asking the city to allow that they pay no increase on their taxes for 20 years? How and why do we allow this madness to continue?

pizzapete 2 years, 5 months ago

Oh, and I forgot about the increase in sales tax proposals we keep reading about. That is to say, 99% of us who live here are going to be paying more for doing any business in this city. Meanwhile this project is slated to get a "special transportation development district sales tax to spur development." Blinking brilliant, a sales tax to help the developer pay his necessary cost of doing business. Who comes up with this stuff?

usesomesense 2 years, 5 months ago

Dear City Commissioners: please stop 'investing' or tax dollars. Hoping to get a return on our investment through additional sales taxes on an apartment building is ludicrous. Since when is there sales tax on rent?

Commenting has been disabled for this item.