Salina, Kan. (KSNW) - Plans are underway to change the face of downtown Salina.
For some, Salina, KS is known as a travel spot between bigger cities.
But to Tyler Gallagher, it’s home.
He owns a local bread shop downtown, and he said the trick to making good bread is time and love.
“You got to do a slow process to really build a lot of flavors and then really putting your heart into it,” he said. “And enjoy what you do!”
He said he hopes this same trick is what can help grow downtown Salina.
“Bringing all the businesses down is kind of a big deal for this town and what it needs,” Gallagher said. “It’s just more businesses, more jobs, more money flowing through it.”
A group of individuals and business owners came together to form the project, Salina 2020.
Its mission is to revitalize downtown and bring more businesses in.
“I think we’re in a period where there’s a rural surge in urban interests all across the country,” Don Boos with Salina 2020 said.
The project is already underway with these new additions:
-The Salina Field House
-Hilton Homewood Suites hotel
-Alley Entertainment Center
-Ya Yas restaurant
However, with capital incentives, Boos is hoping more businesses relocate downtown.
Starting today, new and existing businesses can apply for Community Improvement District financing (CID) or Tax Increment Financing (TIF).
Throughout the CID, add-on sales and use tax will be charged, with a portion of the generated revenue supplementing qualifying costs of eligible improvement projects within the district.
As revenue is generated over time, funds will be distributed on a “pay-as-you-go” basis.
Sales tax within the CID will commence on July 1, 2019 and will be in place for 22 years.
TIF is a real estate development tool used to reimburse eligible costs for commercial development projects. Like the CID, developers will be reimbursed on a “pay-as-you-go” basis.
The City of Salina has created a TIF district and approved a TIF project plan to allow for application of these revenues to incentivize new commercial infrastructure.
Businesses who move into this zone below can apply online.
“We recognize that relocating or expanding, a business takes capital, and we want to be sure that businesses understand all of the incentives that are available to them,” Boos said. “There’s a lot of hidden costs that you don’t anticipate. So, this allows people to offset the costs that come about through redevelopment.”
It’s this push that Boos and Gallagher said will hopefully fill the streets of downtown Salina.
“Having everything move down really like putting money and revitalizing is going to be really great for the city.” Gallagher said.
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