It’s been almost a year since Mission Gateway’s developers released the $268 million project’s latest iteration — the fifth since 2005 — and they will have to wait a little bit longer.
New York-based Cameron Group LLC and GFI Development Co. presented the latest tax increment financing plan for the site and a community improvement district proposal in September.
Mission officials “were not positioned” at the time to take action and pushed the proposal to meeting last week, when they agreed to push the final vote once more to a City Council meeting in January. The project sits on Shawnee Mission Parkway near Roe Avenue and Johnson Drive.
The developers want the City Council to terminate the project’s TIF plan from 2017. Instead, they will seek a revised 20-year TIF redevelopment agreement and to establish a 22-year community improvement district, which raises the CID sales tax rate from 1% to 2%.
If the revised TIF plan is approved, construction would commence on the first phase, which includes 49,752 square feet of “small shop” commercial or restaurant spaces; 90,000 square feet of retail, restaurant and entertainment in the Cinergy area; 373 apartments; a hotel; related site work; and surface parking and a garage.