City officials are considering a request to amend the sales tax exemption for renovations to Wareham Hall in downtown Manhattan.

The item is part of the Tuesday work session agenda. The meeting will begin at 6 p.m. in City Hall.

City administrators seek direction from the city commission over a proposed 10-year, 100% property tax abatement for the project. The developer also requests a $350,000 cash incentive for public infrastructure improvements.

The city, in December 2023, approved a resolution of intent to issue industrial revenue bonds for a sales tax exemption. Since then the project’s budget increased from $25 million to $40 million, according to agenda documents.

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Manhattan city commissioners on Tuesday will consider a request to issue $52 million in industrial revenue bonds to Meadowlark Hills to build 43 new independent living units, an underground parking deck and a fitness and classroom space.

Industrial revenue bonds are a tax-exempt financing mechanism local government entities issue with no fiscal impact to themselves because companies repay them. The bonds allow companies to benefit from property tax exemptions and sales tax breaks while funding a project.

City officials in meeting documents say they don’t expect issuance of the bonds until late summer. They also say Meadowlark officials will return to the city commission later to request a sales tax exemption for the project.

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By Megan Moser

The Manhattan City Commission on Tuesday approved issuing industrial revenue bonds to help finance a $32 million senior living community with an assisted living facility and independent-living cottages.

The developer, Cedarhurst of Manhattan Real Estate, is proposing a two-phase project with a 90-unit, 75,000-square-foot assisted living and memory care community in the first phase, and 22 independent living cottages in the second.

Cedarhurst, which would also be the name of the community, is asking the city government for sales tax exemption on construction materials through industrial revenue bonds. They said the site requires some improvements, including water main extension and sanitary main extension, developer Nick Dwyer said.

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The post The KMAN Five-Minute Morning Show: Manhattan commissioners vote on $15M in incentives for Commerce Bank redevelopment appeared first on News Radio KMAN.

Manhattan city commissioners on Tuesday will decide whether to give incentives to a project to redevelop the Commerce Bank building at Eighth Street and Poyntz Avenue.

Officials from Hartfield LLC are requesting up to $15 million in industrial revenue bonds and a 10-year property tax abatement to turn the downtown building at 727 Poyntz Ave. into a retail and residential space.

If passed, the ordinance would allow the developer to pay taxing entities a total of the roughly $2 million 2024 value of the building over the next 10 years.

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