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Friday, January 14, 2011

Dinosaurs are coming back to Overland Park, Kansas due to recent Overland Park, KS. City Council Vote

Dinosaurs are coming back to Overland Park, Kansas due to recent Overland Park, KS. City Council Vote

The City Council of Overland Park has approved an additional $30 million in tax incentives for a new development that will showcase a museum with exhibits from the American Museum of Natural History. The most popular exhibits of the American Museum of Natural History is the dinosaur exhibits.

The City Council voted unanimously on Monday night to approve a tax incentive never before used in Overland Park for the $588 million Prairiefire at LionsGate. The project will be located at the southwest corner of 135th Street and Nall Avenue in southern Overland Park. 
The project already has won $66 million in state tax incentives intended to foster tourism. The state tax incentives coupled with what the city approved means that public financing for the project would reach $96 million, or 16 percent of the $588 million cost of the project.
The new incentive, called a community development district, stems from a law the Kansas Legislature passed in 2009 that has not been used in Overland Park although it has been used by some smaller nearby cities.
Prairiefire at LionsGate covers 60 acres and calls for 350,000 square feet of retail stores, 291,000 square feet of offices, bike-hike trails and the museum. A movie theater also is being considered

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Blog post written by the Dowell Taggart Team of RE/MAX Best Associates