The City of McPherson has received a valid petition for the creation of Community Improvement District (CID) from Champlain road, to the two hotels next to the interstate.
The petition is in in compliance with Kansas law and was signed by property owners in the district owning more than 55% of land in the proposed district.
The City’s Governing Body will consider adoption of petition and set a public hearing for August 7, 2017 at 8:30 am or soon after to establish the CID District and to authorize the usage of Special Obligation Bonds to finance the proposed District.
The CID District will finance construction of public roadway and drainage improvements (estimated at a cost of $630,588.95) along the private road.
A CID District can remain in existence for 22 years but the city estimates revenue generated from this CID will potentially pay in 3-5 years.
A copy of the signed petition will be published twice, on July 19th and July 26th in the McPherson Sentinel, prior to the public hearing on August 7th.
The CID gives the properties the power to issue a new tax to recoup the cost of the construction. The city will take over maintenance of the road upon completion of the reconstruction.