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Sedgwick County Economic Development Incentives: 2005-2011

Sedgwick County Economic Development Incentives: 2005-2011

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Published by Bob Weeks
Results of all Sedgwick County forgivable loans and economic development exemptions (EDX) approved between 2005 and 2011.
Results of all Sedgwick County forgivable loans and economic development exemptions (EDX) approved between 2005 and 2011.

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Published by: Bob Weeks on Apr 26, 2013
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06/30/2014

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Completed by Becky Eby on 10/31/11 1
I. Sedgwick County Economic Development Incentives: 2005-2011
 The charts below detail the results of all Sedgwick County forgivable loans and economic development exemptions(EDX) approved between 2005 and 2011. Unreported numbers are not included in these figures as incentivesgranted in 2011 have not completed an initial compliance review and several companies have not reported up-to-date job and average wage figures.
Sedgwick County Economic Development Incentives: Forgivable Loans 2005-2011
 YearNumber of CompaniesLoan Total5th Year JobCommitment5th Year Average WageCommitmentNovember2011 Job ActualNovember2011 Average Wage Actual TotalRepaymentReceived
2005 2 $162,500 110 $41,400 112 $42,786 $112,500*2006 3 $217,000 555 $57,184 386 $67,399 $0*2007 2 $37,500 718 $29,500 581 $26,000 $0*2008 2 $5,850,000 700 $60,615 255 $75,000 $5,000,000*2009 4 $425,000 488 $44,949 165 $127,505 $0*2010 6 $331,500 226 $53,467 147 $51,986 $0*2011 6 $843,000 3797 $44,165 - - $220,000Sub Total $7,866,500LessRepayment $5,332,500
 Total 25 $2,534,000 6594 $47,326 1646 $65,113 $5,332,500
*Loans in these years have not reached the final year of their loan agreement as reflected in the data.
Sedgwick County Economic Development Incentives: Economic Development Tax Exemptions 2005-2011
Company2011 Total Appraised Value2011 Total Taxable Value FTE GoalFTE Actual
CharlesEngineering $967,570 $28,407 11 14HuskerHawk LLC/North America Aviation,INC.$209,990 $6,165 10 -22
 Total $1,177,560 $34,572 21 -8
 
Completed by Becky Eby on 10/31/11 2For more detailed information on all forgivable loans and EDXs approved from 2005 to 2011 please see thedetailed charts following this report.
 II. Tax Increment Finance Districts: 2011
 The chart below provides information on all active, approved tax increment finance districts (TIF district) located within Sedgwick County. While Kansas state statutes permit only cities to create TIF districts, and to divert taxeslevied by the overlapping county and school district to city projects within district, Sedgwick County has the ability to evaluate and approve TIF districts by determining if the district will cause adverse effects on the County.
Base YearCounty Property Tax in Base YearBudget (All toCounty)County Property Tax For 2011 BudgetCounty tax toCountyCounty tax to TIF/TDFdistrict Total Countytax% of totalCountytax toCounty Tax Increment Districts
21st & Grove 1995 $1,099.11 $1,145.91 $35,421.75 $36,567.66 3.1%East Bank 1995 14,608.34 12,807.20
1
345,424.05 358,232.25 3.6%Northeast RedevelopmentDistrict1997 349.28 339.60 7,812.66 8,152.26 4.2%Old Town (Cinema II) 1999 13,793.69
2
31,175.47
2
255,161.12 286,338.59 10.9%Douglas & Hillside 2006 23,678.90 22,199.87 15,082.16 37,282.03 59.5%Center City South - ExchangePlace2007 282,412.85
1
304,587.09
1
- 304,588.09 100.0%Center City South - Arena 2007 323,664.85
1
184,749.38
1
- 184,750.38 100.0%KenMar 2009 14,798.13 14,545.95 749.45 15,295.40 95.1%
 TIF District Totals $674,405.15 $571,550.47 $659,651.19 $1,231,201.66 46.4%
 
 Tax Decrement Districts
Gilbert Mosley 1993 $2,675,373.45 $3,405,563.50
3
$661,177.39 $4,066,743.89 83.7%North Industrial Corridor 1996 1,505,359.03 2,475,015.69
4
288,491.26 2,763,510.95 89.6%
 TDF District Totals $4,180,732.48 $5,880,579.19 $949,668.65 $6,830,254.84 86.1%
1 16.25% of this revenue distributed to Gilbert Mosley district and included in County tax to that district2 10.44% of this revenue distributed to North Industrial Corridor district and included in County tax to that district3 $502,143.67 of this revenue distributed to the East Bank, and Center City South districts and included in County tax to those districts4 $255,161.12 of this revenue distributed to Old Town Cinema II district and included in County tax to that district
In addition to the chart above the following two maps show the location, as well as both the county and TIF districttax revenue for all approved, active TIF districts located within Sedgwick County in 2011.
 
Completed by Becky Eby on 10/31/11 3

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