A Liberty developer may pursue a retail and housing development between the Shoal Creek Golf Course and Missouri 152.
Star Acquisitions has plans to develop about 70,000 to 80,000 square feet of new retail space northeast of Missouri 152 and North Booth Road. In addition, the Liberty-based developer is considering including up to 68 single-family lots north of the planned retail development, which it would sell to homebuilders or homeowners.
Timothy Harris, president and sole shareholder of Star Acquisitions, is expected to appear before the Tax Increment Financing Commission of Kansas City at its Wednesday meeting. Harris and the TIF Commission will discuss a funding agreement to analyze the possibility of using tax increment financing to assist with the development. A funding agreement does not commit either party to using the development tax tool.
Harris said TIF would be used to build out the intersection at Missouri 152 and Booth Road, as well as level a 30-foot hill just north of the highway to prepare the site.
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Most TIFs capture new property and economic activity taxes to fund eligible project costs. Harris said the TIF he’s requesting would capture only economic activity taxes — sales taxes from purchases and earnings taxes from employees — at the retail development, which would be called View Valley Shoppes.
“The purpose of the TIF is to try to help absorb some of those improvements,” Harris said. “We’re talking millions of dollars of improvements to the intersection.”
Harris did not announce tenants for the retail development.
Harris said the houses, which are not part of the TIF district, would sell for $800,000 to $900,000. The subdivision, called Eagle Pointe Preserve, would fill in undeveloped property at the southeast corner of the Shoal Creek Golf Course.