Staff updates committee on broader Overland Park Plaza TIF discussions beyond Black & Veatch

Jack (staff) updated the committee on the Overland Park Plaza redevelopment TIF district, saying the district includes multiple properties beyond the widely discussed Black & Veatch proposal. He described ongoing negotiations with other property owners, including a multifamily project at Glenwood/115th and discussions with the Copenhagen group and Ken Block regarding their respective developments and potential TIF sharing agreements.

Jack said staff are negotiating under the city's standard development‑agreement policy parameters (housing and environmental expectations) and noted the team is contemplating 90% TIF levels in negotiations for both Copenhagen and the Galleria-related parcels. Committee members asked how proceeds will be split among property owners; staff said property owners have privately agreed on a revenue-sharing methodology and that those parameters will be annexed to the Black & Veatch development agreement as an attachment. Staff said they expect to bring a public hearing and development agreement for Black & Veatch to the council on the 28th and will continue coordinating negotiations for the other parcels.