Albert Rukwaro
Special to The Gardner News
Gardner city council approved a petition to create a benefit district for the Plaza South development project located on 188th street and I-35 during a meeting Oct 7.
Mathew Wolff, finance director, told the city that Plaza South Developers, New Life Community Church and Olathe Medical Center have petitioned the city for the creation of the district to facilitate the construction of 188th street and a water main extension to the site.
Wolff said the maximum cost of the improvements in the district is $1.3 million including the cost of issuance of temporary notes and long term bonds and the interest expense on the notes.
“The cost of the improvements will be assessed 100 percent against the improvement district and zero percent to be paid by the city at large,” he said.
Plaza South project includes an estimated 114,600 sq. ft of commercial space, 13,600 sq. ft of senior living and 69,700 sq. ft for a church.
Wolff said the proposed term of the district is 10 years.
The council also approved the creation of another benefit district for Waverly Plaza development for roads and waterline improvements.
Wolff said Bristol Groupe, the developers of Waverly Plaza, petitioned the city for the creation of the district for the construction of Washington Street from Waverly road to Laurel Street and the construction of Laurel Street from Santa Fe street to Washington street.
The project includes an estimated $59,700 sq. ft of commercial space, 144 apartment units, a pool and a clubhouse.
Wolff said the cost of the improvements will be $2.4 million and the district will pay 73.9 percent of the costs while the city will cover 26.10 percent of the cost.
“The proposed term of the improvement district is 20 years,” he said.\
Both motions passed unanimously.