A new four-level parking garage won’t solve the parking crunch in downtown Overland Park during the day, city officials said. In fact, daytime weekday parking for the public will stay about even with what it is now, said City Manager Bill Ebel.
But council members still agreed to a $14.4 million public financing package for the Edison office and retail development, saying the influx of office workers and entertainment will be good for business and bring more people to shop downtown.
The package includes $10.6 million in tax increment financing to build the parking garage and a two percent additional sales tax within the district to help the developer on other building expenses on the $54 million project at 80th and Marty Streets.
A rendering of the plan as approved by the city council earlier this year.
The 2 percent sales tax approved by the council is the highest ever for an Overland Park community improvement district and would bring the tax rate for that area to 11.1 percent. That is among the highest sales tax rates in Kansas, according to the state department of revenue. In Johnson County, Olathe’s Conference Center Hotel CID is higher, with an 11.475 rate. The higher rate would only apply within the Edison area and does not include existing downtown businesses.
(Read more: Shawnee Mission Post – Community news and events for northeast Johnson County)