Kent Heermann, president of the Regional Development Association of East Central Kansas, said Saturday’s Gazette article, “RDA Looks at Christie Studies,” needs some clarification.
Three reports were presented at Friday’s RDA meeting: the Emporia Plaza Redevelopment Plan by D.J. Christie, Inc.; the Emporia Plaza Tax Increment District and Transportation District Financial Feasibility Study by Piper Jaffray; and the Retail Capacity Analysis and TIF Projections for the proposed Emporia Plaza Shopping Center in Emporia, KS by Development Strategies.
The Gazette article indicated that the acquisition of land for the project would be paid for with revenue from the Tax Increment Finance district, but this is not the case.
“The Piper Jaffray ... Financial Feasibility Study indicated that land acquisition could be eligible for reimbursement, which is permitted by law,” Heermann said. “The Emporia Gazette article was correct, however the Emporia Plaza project will not be using TIF or TDD revenue proceeds to be reimbursed for land costs.”