FINANCIAL_SERVICESAMENDED

City of Mission Regular Meeting Agenda Packet May 20 2026

Mission Amends TIF Deal for The Lanes Project

Up to $7,000,000 in TIF reimbursements (increased from $5.9 million)Town of MissionRESIDENCE ON ROCK CREEK LLCMay 19, 2026

Trusted by teams at

Description

The City of Mission approved a Second Amendment to its 2020 Redevelopment Agreement with Residence on Rock Creek, LLC for The Lanes project, raising the TIF reimbursement cap to $7 million and reducing the developer’s share of TIF in later years. The amendment maintains a 20-year term with pay-as-you-go reimbursements and preserves LEED Silver and attainable housing commitments.

Contract Details

Contract Amount

Up to $7,000,000 in TIF reimbursements (increased from $5.9 million)

Vendor

RESIDENCE ON ROCK CREEK LLC

Agency

Town of Mission, KS

Contract Type

FINANCIAL_SERVICES

Document Date

May 19, 2026

Contract Term

20-year TIF term; five-year sharing blocks with revised percentages

Renewal Info

Second Amendment raises the TIF cap to $7,000,000 and changes the sharing schedule to 90% (years 1–5), 85% (years 6–10), 75% (years 11–15), and 65% (years 16–20) to the developer, while keeping the maximum TIF term at 20 years from the original ordinance. Replaces the prior Exhibit D project budget with a revised version.

Issuing Agency