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Committee OKs mall tax
BY: Holly Kramer, Staff Writer
The Overland Park finance committee gave preliminary approval to plans to add a half-cent sales tax for Oak Park Mall shoppers.
Mall owners CBL & Associates Properties plan to expand and renovate the mall. To help pay for infrastructure improvements, CBL wants the city to create a transportation development district.
“We believe that will give us the revenue necessary to do what we need to do to improve the mall and make it even better than it is today,” Lathrop & Gage lawyer Pete Heaven said at the meeting Wednesday.
Lawyer Michael Mallen said the owners propose a three-phase plan for renovation, expansion and exterior improvements. Heaven said the project will include replacing all utilities and parking lots, and renovating the food court and main entrance.
All renovations could take place at once, if the council approves the district, Heaven said.
“Like any business, we can only afford to do so much at a time,” Heaven said.
A project of this magnitude might otherwise take 10 years, he said.
“We could get this done in a couple of years,” Heaven said.
“We keep all of our properties as up to date and as high quality as possible,” Mallen said.
Sixth Ward Councilman Dan Stock asked whether developers thought the mall could remain competitive with the tax in place.
Mallen responded affirmatively.
He said he did not think shoppers would have a problem paying 50 cents more on a $100 purchase.
Second Ward Councilman Paul Lyons said the mall is in his district and he supported the plan.
“Conceptually, it makes sense,” Lyons said.
The tax will generate about $20 million for the project. Renovation costs total about $54 million.
Oak Park Mall is 1.5 million square feet.
No public hearing date has been set by the City Council.
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Mall owners CBL & Associates Properties plan to expand and renovate the mall. To help pay for infrastructure improvements, CBL wants the city to create a transportation development district.
“We believe that will give us the revenue necessary to do what we need to do to improve the mall and make it even better than it is today,” Lathrop & Gage lawyer Pete Heaven said at the meeting Wednesday.
Lawyer Michael Mallen said the owners propose a three-phase plan for renovation, expansion and exterior improvements. Heaven said the project will include replacing all utilities and parking lots, and renovating the food court and main entrance.
All renovations could take place at once, if the council approves the district, Heaven said.
“Like any business, we can only afford to do so much at a time,” Heaven said.
A project of this magnitude might otherwise take 10 years, he said.
“We could get this done in a couple of years,” Heaven said.
“We keep all of our properties as up to date and as high quality as possible,” Mallen said.
Sixth Ward Councilman Dan Stock asked whether developers thought the mall could remain competitive with the tax in place.
Mallen responded affirmatively.
He said he did not think shoppers would have a problem paying 50 cents more on a $100 purchase.
Second Ward Councilman Paul Lyons said the mall is in his district and he supported the plan.
“Conceptually, it makes sense,” Lyons said.
The tax will generate about $20 million for the project. Renovation costs total about $54 million.
Oak Park Mall is 1.5 million square feet.
No public hearing date has been set by the City Council.