Overland Park weighs more incentives for expanded $1.3B Black & Veatch project
After tweaking its original proposal, the Overland Park City Council might consider changes to Black & Veatch’s tax incentive requests to help fund the multibillion-dollar development next month.
The project, first announced last year, will eventually transform the global engineering firm’s headquarters site into a walkable district with new housing and retail off 115th Street and Lamar Avenue.
Last summer, the City Council approved creating an 80-acre tax increment financing district (TIF) to support the project, and city planners approved zoning changes for the project’s initial phase in October.
But Black & Veatch changed its plans this spring — scaling up the size of the headquarters and hotel, and shrinking the number of housing units. The updated proposal also increased the project’s price tag, from $1.12 billion to $1.34 billion, and added about $20 million to Black and Veatch’s request for tax dollars to go toward the development.
With the adjusted plan receiving its necessary rezoning approvals in May, the City Council needs to approve changes to the accompanying TIF district for the project to move forward.
Governments use TIF districts to help pay for projects in areas needing development. In most cases, the money is issued in bonds and then paid back from increases in property tax revenues that would not have occurred without the development.
According to city documents, Black & Veatch is requesting $253 million in TIF reimbursement — up from $227 million in its 2025 proposal — and $14.6 million in community improvement district reimbursements, a slight decrease from $19.9 million.
The boundaries of the TIF district will remain the same in the updated plan, according to city documents, but the boundaries of the different components — like housing or the hotel — that make up the projects have been changed.
The Overland Park City Council will set a public hearing date to discuss any amendments to the district.
As of June 15, it’s slated for July 20. Overland Park City Council meetings typically start at 7:30 p.m. and are held at City Hall, 8500 Santa Fe Dr.
