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Independence, MO —
Although the finances of the Midtown Truman Road Corridor are limited because of the closing of Independence Regional Health Center five years ago, the area is holding onto several capital project goals to accomplish before 2018.
That is when the abatement project in west/central Independence is scheduled to end, but before then, the corridor would like to partner with the city of Independence to complete a historic neighborhood park on the south side of Truman Road, near the corner of Truman Road and River Boulevard.
The corridor also would like to find someone to develop the northwest corner of Truman Road and River Boulevard, where plans were once in place for townhouses.
But in the meantime, property owners are continuing to invest more than the minimum amount required through the city’s 353 tax abatement programs, the board presidents told the City Council Monday night. These areas include the Midtown Truman Road Corridor, the Fairmount-Carlisle area and the St. Clair Park abatement district.
MIDTOWN TRUMAN ROAD CORRIDOR
The area isn’t currently doing a lot of new abatements – originally, the plan called for all new applications within the project area closed in 2004, and all projects were to be completed by December 2007. Maintaining the progress made since the project’s inception in 1995, said Joe Gall, president of the MTRC 353 Redevelopment Corporation’s board of directors, is the main goal. That includes the 5-, 10- and 15-year inspections, 68 of which took place in 2011.
“It would be a shame to accomplish what we did in that area and not follow up with the property owners to make sure that they continue to stay in compliance with the codes and the tax abatement requirements,” Gall said, adding that compliance remains strong among the 348 total properties within the corridor’s 72-block area.
The board of directors last year did approve three new residential abatements and one commercial abatement. The commercial property, the pediatric dental office ABC Dental at U.S. 24 and Forest Avenue, represents nearly $250,000 in investment, even though the minimum investment requirement was just $56,937.
“It’s a beautiful result,” Gall said of the dental office.
In 2011, corridor participants invested about $375,000, compared to $393,000 invested in 2010. However, the 17-year-old program represents $89 million of investment, Gall said, adding that initial projections called for $80.8 million of investment over the entire 23 years of the project’s life.
“By that measuring stick,” he said, “the investment in the area has exceeded expectations that we had in the beginning.”
Although the finances of the Midtown Truman Road Corridor are limited because of the closing of Independence Regional Health Center five years ago, the area is holding onto several capital project goals to accomplish before 2018.
That is when the abatement project in west/central Independence is scheduled to end, but before then, the corridor would like to partner with the city of Independence to complete a historic neighborhood park on the south side of Truman Road, near the corner of Truman Road and River Boulevard.
The corridor also would like to find someone to develop the northwest corner of Truman Road and River Boulevard, where plans were once in place for townhouses.
But in the meantime, property owners are continuing to invest more than the minimum amount required through the city’s 353 tax abatement programs, the board presidents told the City Council Monday night. These areas include the Midtown Truman Road Corridor, the Fairmount-Carlisle area and the St. Clair Park abatement district.
MIDTOWN TRUMAN ROAD CORRIDOR
The area isn’t currently doing a lot of new abatements – originally, the plan called for all new applications within the project area closed in 2004, and all projects were to be completed by December 2007. Maintaining the progress made since the project’s inception in 1995, said Joe Gall, president of the MTRC 353 Redevelopment Corporation’s board of directors, is the main goal. That includes the 5-, 10- and 15-year inspections, 68 of which took place in 2011.
“It would be a shame to accomplish what we did in that area and not follow up with the property owners to make sure that they continue to stay in compliance with the codes and the tax abatement requirements,” Gall said, adding that compliance remains strong among the 348 total properties within the corridor’s 72-block area.
The board of directors last year did approve three new residential abatements and one commercial abatement. The commercial property, the pediatric dental office ABC Dental at U.S. 24 and Forest Avenue, represents nearly $250,000 in investment, even though the minimum investment requirement was just $56,937.
“It’s a beautiful result,” Gall said of the dental office.
In 2011, corridor participants invested about $375,000, compared to $393,000 invested in 2010. However, the 17-year-old program represents $89 million of investment, Gall said, adding that initial projections called for $80.8 million of investment over the entire 23 years of the project’s life.
“By that measuring stick,” he said, “the investment in the area has exceeded expectations that we had in the beginning.”
FAIRMOUNT-CARLISLE
Now in its fifth year, the northwestern Independence Fairmount-Carlisle area had 50 new residential applications, one new multifamily application and one new commercial application in 2011. Thirty-six abatements were completed last year, representing more than $2.8 million in investment.
“Nearly half of all the investment to date has occurred in 2011,” said Bob Garrison, the Fairmount-Carlisle 353 board president.
In this abatement area, along East U.S. 24, is the first project in the 12 Blocks West initiative – a multifamily property that was completely renovated and is now fully occupied. District 1 Council Member Marcie Gragg said this property is a good example of different organizations and entities working together toward a common goal.
“This is a good example of where the city used a tool in the toolbox to open up a method for redevelopment that would be attractive to developers who might not have been interested in investing in the area...” Gragg said. “... I think it’s important to keep reiterating to our community how important it is to not work in our silos but continue to partner wherever we can ... that’s the only way we can make such a strong impact in a concentrated area.”
This year, the area will begin its first round of 5-year inspections, as well as continuing to encourage new investment and maintaining the level of compliance with code enforcement.
ST. CLAIR PARK
The city’s newest 353 abatement district, in far northwestern Independence, borders the Fairmount-Carlisle area, the city limits and the Mount Washington Cemetery.
This is the first year of financial measurements for the district – in 2011, one abatement was completed, representing more than $10,000 in investment. Three residential abatements are in progress.
This year, the area would like to host another block party in conjunction with community policing, as well as hold a neighborhood clean-up.
“It was a great way to meet neighbors and to learn more about the area,” said Garrison, who also is president of the St. Clair Park’s board, of the 2011 block party, “and it was very well received. For those who came, they had a lot of questions and enthusiasm about their area.”
