Agenda Item No.

Washburn University Board of Regents

SUBJECT: Neighborhood Revitalization Plan

DESCRIPTION: Washburn University has participated in the Neighborhood Revitalization Plan in Topeka, along with other taxing districts, since its inception. Under the Neighborhood Revitalization Plan property owners are eligible to receive, for a ten year period, to a rebate of property taxes on their property attributable to improvements they've made to the property. The city of Topeka recently adopted a new Neighborhood Revitalization Plan for a five year period beginning January 1, 1999. Changes in the new Neighborhood Revitalization Plan as compared to the current plans in effect are summarized as follows:

Multi-family Residential District #1 is expanded to include the west side of Western Avenue from 6th to 10th streets.

A new multi-family district #3 is created in north Topeka

Real property on a historical register or designated a historical landmark may be eligible for a rebate period of 15 years.

Privately owned, multi-level parking garages within the Special District (Central Topeka) may be eligible for a rebate for a period of 25 years.

Appeal process is created for projects which don't meet initially the eligibility criteria and for applications which are filed out of time.

The city of Topeka requests that the University continue participating in the Neighborhood Revitalization Plan by entering into an interlocal agreement for the five year period. If approved, the University's proportionate share of tax revenue attributable to enhanced property valuation due to improvements would be rebated to qualified taxpayers.

FINANCIAL IMPLICATIONS:

RECOMMENDATION: President Farley recommends Board approve the University's continuing participation in the Neighborhood Revitalization Plan and authorize the administration to enter into the interlocal agreement with the city of Topeka.

_______ ______________________________

(date) Jerry B. Farley, President


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