A Community Improvement District (CID) should promote, stimulate and develop the general and economic welfare of and quality of life in the City of Topeka. A CID involves public financing of all or a portion of a “Project” as defined in the Community Improvement District Act (“Act”) within a prescribed area (the District). A CID Project should provide public benefit such as strengthening economic development and employment opportunities; enhancing tourism; upgrading older real estate through redevelopment or rehabilitation; or promoting sustainability. Public financing is achieved by levying and collecting special assessments and/or a CID sales tax upon property in the District.
An applicant may petition the City to utilize CID financing to fund Projects eligible under the Act. The authority and decision to approve a petition establishing a CID for a Project is within the sole discretion of the Governing Body. However, Projects in which the anticipated costs are less than $1 million dollars will not be considered. The Governing Body is under no obligation to approve any petitioned Project. This Policy is intended to provide a guide in considering applications. The Governing Body reserves the right to deviate from this Policy when it believes it is in the City’s best interest.
The application process shall include an application form and the petition required by the Act. As part of the process, the applicant shall complete the following prior to submission of the petition to the Governing Body:
- Provide evidence in a form satisfactory to the City of the applicant’s financial ability to complete the proposed project in a timely manner.
- Provide documentation substantiating the applicant’s sources of funding, including the amount/percentage of equity funding.
- Submit a financial analysis demonstrating that the projected revenue is sufficient to pay the costs of the project, including bond debt service. The Review Committee may secure an independent feasibility study, the costs of which shall be borne by the applicant.
- Pay all required fees and comply with all procedural requirements of the Act and the City’s CID Policy.
- Execute a Development Agreement contemporaneous with presentation of the CID petition to the governing body.
Apply for the Community Improvement District today!
- General Nature of the Proposed District Project
- Estimated Costs of the Proposed District Project
- Proposed Method of Financing the Proposed Project (including, if applicable, the issuance of bonds)
- Proposed Amount and Method of Assessment
- Proposed Amount of CID Sales Tax, if applicable
- Map of the Proposed District
- Legal Description of the Boundaries of the Proposed District
Fill out this form to file a petition.
Financial Services contact information
Location:
215 SE 7th Street
Topeka, KS
66603
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Email: finance@topeka.org
Phone: (785)368-3970