A new shopping center is on the horizon for Lee’s Summit and the City Council could consider amending a tax-increment financing district to make it happen.
Summit Place will seek approval of a funding agreement by the council Dec. 19 where its developer would provide $50,000 to pay for preparing for an amendment expanding the Summit Fair TIF.
The proposed shopping center would be north of Summit Fair and the Summit Technology campus, just south of Interstate 470.
RED Development wants to build a 370,000-square-foot center on about 43 acres.
The developers say it will create between $100 million and $200 million in additional retail sales annually, fulfilling demand for tenants not presently in Lee’s Summit.
The estimated cost of the project is $73 million.
RED would improve Ward Road to four lanes, to Chipman Road, and the area’s storm drainage system. If approved, construction is to start in summer of 2014.
The enlarged TIF would reimburse RED for about $18.5 million in improvements, if it is eventually approved after more study.
The council will also hear a request regarding creation of a Community Improvement District to cover Lee’s Summit’s downtown.
That district was planned a decade ago while the city was putting together a bond issue in November 2002 to build a new City Hall and rebuild streets and infrastructure downtown.
The district was portrayed as a means for downtown property owners to help with maintaining the upgraded features of downtown.
Representatives of Downtown Lee’s Summit Main Street Inc. took many years to assemble signatures from property owners for creating the district, which also will need voter approval by a handful of residents who live within shopping district.
Downtown Main Street also is asking the council to approve the city signing its petition so it meets legal thresholds for a majority of landowners. The city owns about 40 percent of the area of the district.
The district would add one-eighth to one-cent sales tax in the district, which would be decided by directors of the district, whom would be appointed by the mayor, with consent of the council. It would run 20 years.
That district would be used for cleanliness and beautification in downtown and include amenities like trash and recycling receptacles, bicycle racks, banners and public art, and community development such as marketing and business seminars and economic development incentives.
Other items on the council’s agenda include:
• Approving temporarily relocating the North Recycling Center during the summer of 2014, to the east side of Lee’s Summit Municipal Airport to allow construction on Lee’s Summit Road.
• A lease of the WPA Post Office to the Lee’s Summit Historical Society for $1 a year for use as a museum and agreement for using bond money for initial improvements for the museum.
• A special-use permit for an auto dealer at 1703 NE Rice Road.