County Commissioners unanimously approve changes to downtown TIF district

Rodney Price
November 06, 2019 - 11:45 am
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The Sedgwick County Commission unanimously approved an expansion and modification of the Union Station TIF district in downtown Wichita.

Brent Shelton, Deputy Chief Financial Officer for the county, explained what a tax increment financing district is.

"(TIF is) designed as a financing tool that enables governments to invest in  infrastructure and other public improvements, and then pay for them by capturing the increase in property tax revenues that generated those enhancements,” Mr. Shelton said.
  
The old Ice House building near Union Station will be expanded by 13,000 square feet to a total of 40,000 square feet of commercial space.  It is estimated to cost $8.7 million.

The city of Wichita approved the same measure back on October 8th.  The project is set to be finished in April 2021.

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