Financial incentives for a pair of developments in Parkville were approved last week by the board of aldermen.
At the Tuesday, May 15 meeting, the board — minus alderman Greg Plumb, who recused himself — gave final approval to financial incentives for Six at Park, located on about 2 ½ acres at the intersection of Highway 9 and East Sixth Street near Park University. The 54,000 square foot office building is expected to generate about 224 jobs.
The developer, Foutch Brothers, has asked the city for industrial and redevelopment assistance to build a parking lot adjacent to the development. The lot would be open to the public after office hours during the week and on weekends and for special events. Foutch Brothers has asked for property tax abatement for 15 years, with full abatement for the first three years and a sliding scale for the remainder.
At the Tuesday, May 1 meeting, director of community development Stephen Lachky presented the request to the board, along with a city-requested analysis of the development from Springstead. That analysis stated the redevelopment would not be feasible without financial incentives.
Two new Community Improvement Districts (CID) related to the Apex Plaza commercial development near Highway 45 and Melody Lane, across from Parkville Commons, were also given preliminary approval.
The bulk of the Apex Plaza property — about six acres — was rezoned from residential to commercial use in 2002, but since then, various development plans have come and gone. The development plan was approved last year, but little movement has yet been made.
The development plan, submitted by CBC Real Estate, consists of four retail buildings, varying in size from 15,000 to 4,000 square feet. Two are set aside as possible restaurants with one of those expected to be a fast food restaurant. The site includes 211 parking spaces and three points of access, two onto Hwy. 45 and one onto Melody Lane.
The developer proposed some road improvements in the area, including limiting access to Melody Lane to prevent traffic from the development from disbursing into the nearby neighborhood.
In January, the board approved project areas and adopted tax increment financing (TIF) over 23 years. The new CIDs will each collect 1 percent in sales tax to reimburse the developer’s costs for road improvements. Projects within the CID boundaries include improvements to Hwy. 45, including construction of a turning lane, work to the east and west sides of Melody Lane and stormwater detention improvements.
The board is expected to give final approval to the CID formation petitions at the Tuesday, June 5 meeting.
The board also gave final approval to the amended petition for vacation of an undeveloped portion of Walnut Street.
Applicants David and Daniell Gile purchased several lots near downtown Parkville to build a new home, but due to a nearby creek and other conditions of the terrain sought vacation to allow construction of the home.
The matter was introduced to the board at its Tuesday, March 20 meeting and a decision was postponed due to protests from nearby residents. Since, a meeting of neighbors was held and additional hearings held in April and early May. The proposal was amended to compromise with the wishes of property owners and to allow future installation of utility lines and public use of driveways.
As he did at the Tuesday, May 15 meeting, alderman Brian Whitley voted no.