Title
A RESOLUTION SUPPORTING THE FORMATION OF THE I-470 WESTERN GATEWAY TRANSPORTATION DEVELOPMENT DISTRICT.
Body
Issue/Request:
This resolution will authorize a new regional Transportation Development District (TDD), to replace the existing regional TDD, in connection with the Paragon Star project and the development of other properties that serve as the western gateway to Lee’s Summit along I-470 and View High Drive. The purpose of forming a new TDD and replacing the existing regional TDD is to include additional properties, including the Paragon Star retail area, and fund additional projects in the region.
Key Issues:
This resolution will authorize staff to file an action in Jackson County Circuit Court to form the I-470 Western Gateway Transportation Development District. This TDD will fund improvements to the I-470 and View High interchange to convert View High Drive under the interstate into a diverging-diamond configuration, along with other transportation improvements within and near the TDD.
Proposed City Council Motion:
If supportive of the creation of the TDD: I move to adopt Resolution 18-01.
Background:
The Existing Regional TDD (Southwest I-470 TDD) -
The City Council previously authorized the formation of the Southwest I-470 Transportation Development District (the “Southwest I-470 TDD”). This TDD was approved by the Jackson County Circuit Court on September 12, 2016 and formation was completed in an election of the property owners in December 2016. The Southwest I-470 TDD generally includes the property within the Summit Woods Shopping Center and property along the north side of I-470 from Pryor Road to View High Drive. The purpose of the Southwest I-470 TDD was to fund regional transportation improvements that would allow the Paragon Star sports and entertainment complex to be constructed.
The Southwest I-470 TDD is operational, but the TDD sales tax has not been imposed. There are several conditions that must be satisfied to impo...
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