Economic Development Investments

The City of Overland Park provides limited types of public investments in private development.

City staff and the Governing Body consistently consider redevelopment needs when granting economic development investments.

Types of Economic Development Investment Tools

Tax Increment Financing

Tax increment financing is an economic development tool which pledges future incremental increases in property taxes to finance the current improvements which will result in those gains. TIF is designed to channel funding toward improvements in areas where development or redevelopment may not otherwise occur.

When an area is developed or redeveloped, there is an increase in the value of the property. The increased site value and investment creates more taxable property, which increases tax revenues. The increased tax revenues are the “tax increment.” TIFs pledge the future increased revenue for repayment of eligible costs associated with the improvements.

In Kansas, a TIF Project must be located within a “redevelopment district,” which may be established by a city in:

  • Blighted areas
  • Conservation areas
  • Enterprise zones
  • Major tourism areas
  • Major commercial entertainment and tourism areas
  • Bioscience development areas.

TIFs do not result in increased property tax rates or increased sales tax rates.  Projects may be funded by the use of special obligation bonds or on a pay-as-you-go basis. Some taxing jurisdictions are exempt or partially exempt from TIF, such as public schools. Specifically, the State’s twenty mills designated for public education and a school district’s bond (capital outlay) mill levy rate are exempt.

Transportation Development Districts

A transportation development district enables an additional sales tax or a property tax special assessment to be charged within the district.

The proceeds from this additional tax or assessment are to be used for repayment of TDD eligible project costs.

According to Kansas law, a TDD tax or special assessment can only be used on costs that are for transportation related projects or infrastructure. This may include roads, traffic signals, parking lots, sidewalks, and related utility relocation.

Projects may be funded by the use of special obligation bonds or on a pay-as-you-go basis.

Community Improvement Districts

Community improvement districts allow an additional sales tax or a special assessment to be charged within the district. The proceeds from this additional tax or assessment are used to finance CID-eligible project costs.

According to Kansas law, a CID tax or special assessment can be used to fund capital improvements, infrastructure, and certain operational costs.

Projects may be funded by the use of special obligation bonds, full faith and credit bonds, or on a pay-as-you-go basis.

Sales Tax Revenue Bonds

Sales Tax Revenue Bonds, also known as STAR bonds, provide the opportunity to issue bonds to finance the development of major commercial, entertainment and tourism areas and use the sales tax revenue generated by the development to pay off the bonds.

STAR bonds are approved through the Kansas Department of Commerce.

Active Economic Development Investment Areas

The following cards show details of each economic development investment area in Overland Park.

Avenue 80

Location: 80th & Metcalf (Downtown Overland Park)

Type: Tax increment financing

Avenue 82

Location: 82nd & Metcalf (Downtown Overland Park)

Type: Tax increment financing

Bluhawk Development

Location: Southwest corner of 159th and U.S. 69

Type: Transportation development district
Value: One-cent sales tax

Type: Community improvement district
Value: Half-cent sales tax

Brookridge

Location: 103rd & Antioch

Type: Tax increment financing

Central Square/Shamrock

Location: 95th & Metcalf

Type: Tax increment financing

Cherokee South Shopping Center

Location: Southwest corner of 95th and Antioch

Type: Tax increment financing

Corbin Park Shopping Center

Location: Southeast corner of 135th and Metcalf

Type: Transportation development district and community improvement district

Value: 1.5-cent sales tax

Deer Creek Woods

Location: Northwest corner of 135th and Metcalf

Type: Transportation development district

Value: One-cent sales tax

Edison District

Location: Southwest corner of 80th and Marty

Type:  Community improvement district
Value: Two cent sales tax

Type: Tax increment financing

Hawthorne Plaza

Location: Southwest corner of 119th and Roe

Type: Community improvement district

Value: One-cent sales tax

Highlands Village

Location: 107th between Nall and Roe

Type: Transportation development district

Value: One-cent sales tax

InterUrban Lofts

Location: Downtown Overland Park

Type: Tax increment financing

Jack Stack

Location: 9000 W 137th Street

Type: Community improvement district

Value: One-cent sales tax

Metcalf 108

Location: I-435 & Metcalf

Type: Tax increment financing

Metcalf Crossing

Location: Metcalf & Shawnee Mission Pkwy

Type: Tax increment financing

Mission Farms West

Location: Northwest corner of Mission Road and I-435

Type: Transportation development district

Value: One-cent sales tax

Nall Hills

Location: Southwest corner of 95th and Nall

Type: Community improvement district

Value: One-cent sales tax

Oak Park Mall

Location: Southeast corner of 95th and Quivira

Type: Transportation development district

Value: Half-cent sales tax

Prairiefire

Location: Southwest corner of 135th and Nall

Type: STAR bonds and community improvement district

Value: 1.5-cent sales tax for CID

Promontory

Location: Northeast corner of 91st and Metcalf

Type: Community improvement district
Value: One-cent sales tax

Type: Tax increment financing

Quivira 95 Shops

Location: Northeast corner of 95th and Quivira

Type: Community improvement district

Value: One-cent sales tax

Ranchmart South

Location: Southeast corner of 95th and Mission Road

Type: Community improvement district

Value: One-cent sales tax

Regency Park Shopping Center

Location: Northwest corner of 93rd and Metcalf

Type: Community improvement district

Value: One-cent sales tax

Southeast Corner of 91st and Metcalf

Type: Community improvement district

Value: One-cent sales tax

The Vue

Location: Southeast corner of 80th and Marty

Type: Community improvement district
Value: One-cent sales tax

Type: Tax increment financing

Valley View Shopping Center

Location: Southeast corner of 95th and Antioch

Type: Tax increment financing

West Park Shopping Center

Location: Northeast corner of 87th and Farley

Type: Community improvement district

Value: One-cent sales tax

Map

Use the map below to locate active economic development investment areas geographically. Enter an address to search or click and drag to find an area on the map.