City council members approve $268 million Mission Gateway Project plan
Mission, Kan. (KCTV) - City council members approved the fifth plan for the $268 million Mission Gateway Project on Wednesday night. Construction is expected to resume on the Mission Gateway Project after bonds are issued.
The Mission Gateway Mall closed in 2005. It was torn down and the large lot sat empty for years. “Nothing has happened since,” resident Rosemary Frias said. “I’m hoping they finish the project. Hopefully it will be the real deal.”
“You don’t know what’s going to happen. After all these years, you think maybe something will happen someday. Maybe we will still be alive,” Owner of Mission Fresh Fashion Ray Hanf said. “We’d love for something to happen to bring in more people.”
City council members voted Wednesday night to approve a new plan with changes to Community Improvement District ordinances, tax increment financing plan and the redevelopment plan. Those changes include increasing a 1% special sales tax in the designated improvement district to 2%.
“It is prime real estate let’s do something with it. The plan looks great,” Ron Berg who works in Mission said. “It is mixed use with a mix of office, living, shops and medical. Seems like a win-win for everybody.”
The city agreed to issue $18 to $22.5 million worth of special obligation TIF bonds for the project.
City leaders also want assurances including $3 million in escrow, $1 million to make certain all milestones and timelines are met and $2 million to guarantee taxes are paid. Under the new plan and agreements, phase one of the project must be completed within 46 months after bonds are issued.
“It’s about time,” Frias said. “It’s been a long, long time waiting.”
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