The Merriam City Council, as expected, Monday took formal action to oppose the Shawnee Mission School District’s proposed policy on Tax Increment Financing (TIF) projects at cities within the district boundaries.
The school district has the ability to veto new TIF districts when they are formed. The districts are normally approved by a city, setting the boundaries for the project, before the economic support details are worked out.
The proposed district policy says it will be more favorable to TIF proposals that only capture 50 percent or less of the property tax increment and rely on sales tax rather than property tax. The district is asking the developer to submit all of the supporting documents that it gives the city.
(Read more: Prairie Village Post)