Lee’s Summit city staff has negotiated an agreement to end the Hartley TIF downtown and fix a deteriorating parking structure.
The parking structure behind buildings at Third and Douglas streets, behind condominiums on the south side, were part of projects built with tax-increment financing.
Now it’s up to council members to decide at their meeting July 24 if they’ll accept the deal.
The parking was built as part of a renovation of downtown properties and new construction known as the Hartley Block, by Lee’s Summit developer Kurt Pycior, approved in 2006.
His business was hammered during the “Great Recession” and that downtown property eventually was acquired by Rialto, an out-of-state real estate firm.
The parking structure has structural faults that kept it from being fully open.
Rialto has been negotiating with the city to for TIF funds that have accumulated to about $258,417, with an additional $45,000 expected in 2014.
The company has agreed to lease the city 34 public parking spaces in the structure for 25 years (the structure behind Rialto property at Third and Douglas streets also has spaces for the Vogue condominiums).
The delay in the parking structure repair was part of the fallout.
The proposed agreement would end the Hartley TIF 15 years early, once Rialto has completed the parking structure.
The council also will hear a proposal for a creating a business “accelerator” in Lee’s Summit with city’s financial support.
A committee headed by Mark Dickey, vice president of the Lee’s Summit Chamber of Commerce, is working on the proposal for the “Market Center of Ideas” where entrepreneurs can share office and meeting space, technology and get access to capital.
A space for technology and media artists is envisioned, providing some of the expensive technology and hardware, items like a 3-D printer.
The plan could include the city providing a facility and start up financing, with the private sector donating some equipment and professional services.
The committee will be asking the council members if it should pursue a more detailed business plan for creating the center.
Also the council is scheduled to approve contracts with:
Freeman Concrete Construction LLC for about $1.03 million in curb repair for streets getting overlays
Lamke Trenching and Excavating, Inc. for a $759,342 water main replacement
J.A. Lillig Excavating Inc. for $185,430 in storm-water detention to mitigate flooding on SW 33rd Street.