Public Hearing on Belton’s Uptown Development District
KANSAS CITY, Mo. — KSHB 41 reporter Ryan Gamboa, who covers Cass County and agricultural topics, is highlighting an important public hearing held by the Belton City Council regarding the major Uptown Development District. The council is considering the issuance of $250 million in Industrial Revenue Bonds to fund the project over a 20-year period.
Key Highlights of the Development
- The project aims for a potential tax abatement alongside a $250 million private investment.
- This multi-purpose development will include:
- 600 new homes
- Five sit-down restaurants
- A 110,000-square-foot entertainment complex
- Retail spaces totaling 7,500 square feet
Belton Uptown District
Projected Phases of the Project:
- Phase 1: A 100,000-square-foot entertainment district with retail.
- Phase 2: 30,000 square feet designated for retail and dining.
- Phase 3: Development of approximately 312 residential units.
- Phase 4: Addition of 288 housing units and 15,000 square feet of retail space.
Financing Concerns
The proposed $250 million Chapter 100 bonds are set to be funded solely through project revenue, implying no risk to Belton’s city funds. However, the Belton School District could lose approximately $35 million in tax revenues over the next 20 years under this agreement.
The developer, PETRA, is seeking to access an additional $7 million from sales taxes generated by the new businesses, highlighting ongoing concerns about taxpayer contributions to infrastructure costs through tax breaks and rebates.
Tyler Burks
Additional Developments
The city of Belton is exploring the development of a professional baseball stadium and is also facing litigation concerning affordable housing initiatives.
The public meeting will begin at 6 p.m. at the Council Chambers located at 520 Main Street, with attendance encouraged, though public comments will not be allowed without prior sign-up.
For more information, contact Ryan Gamboa with ideas or concerns here.
This comprehensive overview reflects the significant developments related to Belton’s Uptown District, emphasizing local impacts, financing details, and ongoing city projects.
