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Yahoo
10-05-2025
- Business
- Yahoo
Board votes to remove lumber store from tax district
A board that oversees one of the taxing districts for the proposed Prospect Village development approved a petition Friday from a lumber and materials business to be excluded from that district. The five-member board of the community improvement district for a future sports complex to be constructed in the village voted 5-0 to allow Herrman Lumber, 3012 E. 12th St., to be removed. The petition will have to go to the Joplin City Council, which will have to vote on it as well, according to discussions at the board meeting. When the developer of Prospect Village, Woodsonia Real Estate, and the city of Joplin proposed the CID earlier this year, the boundaries of it were largely confined to properties surrounding the development site. That site extends along Geneva Avenue, just east of Range Line Road, from south of 20th Street to the 32nd Street area. But the tax boundary also was drawn along Range Line north to take in Herrman Lumber. At a Jan. 20 public hearing during a City Council meeting on the proposal, Danny Burke, chief operating officer of Herrman Lumber, said the company is a small family-owned business with five locations. The store in Joplin has been here since before 1961 and over that time it has generated significant tax revenue for the city. The business largely sells to contractors. It is not a competitor of big-box retail stores such as Lowe's, Home Depot and Menards, that cater to do-it-yourself customers, the council was told. At the CID board meeting Friday, Chris Williams, the city's legal consultant on the development, said the basis for Herrman's petition for removal is that 'the nature of the big box stores was fundamentally different' than Herrman's business model. Burke said in January that he had concerns about the tax boundary being extended for several blocks in order to take in only Herrman Lumber. 'It appeared to be an intentional and targeted effort to add Herrman while omitting other businesses, he said. That gives competitors an advantage because the taxes would not have to be collected by similar businesses, such as Meek's, and materials businesses that cater to builders operate on a tight margin, he said. Woodsonia president Drew Snyder said at a January meeting with city officials that he would work with Herrman. To do that, he has added some other businesses to the taxing district. That includes Lowe's, Home Depot and Menards, though Menards did not agree, the board was told. Also to be added are Autotronics, a manufacturer of electromagnetic clutches, brakes and solenoids, a strip mall along 32nd Street, and some of Woodsonia's properties in the 32nd Street Place development around 32nd Street and Hammons Boulevard. Those properties include The Boulevard, a 250-unit apartment complex there, and the soon to be completed B&B Theater, the CID board was told. There also will be some restaurants in that area added, the CID board was told. $307 million development The purpose of community improvement tax districts is to charge an extra cent in sales tax that can be applied to the construction costs. In this case, the village is a $307 million development. The development would provide a youth sports facility for traveling teams and other events, an apartment complex of more than 300 units, a retail anchor and other shops, a hotel, and a public park among other features. At a public hearing on the tax proposals earlier this year, Snyder, president of the project's development firm, Woodsonia Real Estate, based in Omaha, Nebraska, said the development will be 78 acres located south of 20th Street along Geneva Avenue east of Range Line Road. The sports complex will be on the east side of that acreage and a retail area will be located near 20th Street and Davis Boulevard. A community improvement district designated for the sports complex would impose a 1-cent sales tax on top of existing city, county and state sales taxes. There also is an overlapping community improvement district covering the development that would collect another 1-cent sales tax. Snyder said the $307 million cost to build the project would be paid by about $147 million in equity and debt by the developer, about $38 million collected from a tax increment financing district, and about $122 million derived from the two community improvement districts. One of those CIDs would not be activated until later, he said. 'This has been a huge lift, and we have been working on this project for a long time to get to this point,' Snyder said earlier this year, thanking city staff for its assistance. At this point, 'we will be able to activate several project areas nearly immediately to provide quick action' on the project start, the developer said. Woodsonia is the same company that is finishing the 32nd Street Place at 32nd Street and Hammons Boulevard. That brought a Menards home improvement store, a 250-unit apartment complex and B&B Theatres to Joplin. The theater is expected to be completed in July, Snyder said Tuesday. Snyder said the tax increment financing district, which diverts part of the property and business taxes in the boundaries of the district, will also offset some of the development costs. The sports complex will be owned by a CID and will revert to ownership by the city of Joplin when the development's debt is satisfied. 27,000 hotel nights The sports complex will likely host 28 to 30 indoor youth sports tournaments a year. 'This is a huge industry across the nation,' Snyder said previously. It is projected that the draw to the complex will sell 27,000 hotel nights a year. A representative of the Baker Tilley financial advisory firm hired by city officials to evaluate the proposal testified at a meeting of the city's Tax Increment Finance Commission recently that Woodsonia's project costs were reasonable for that type of development. The commission also was told that the project is eligible for TIF financing because the location is a blighted area and needed remediation of parts of the property. Snyder said there are several factors for that determination. There are old mining sites on the property, creosote contamination left by treatment methods International Paper used to preserve utility poles at its operations there, and other environmental concerns that require remediation. There also are Federal Emergency Management Agency-designated flood plains and floodways on the property that have to be addressed. Because of that, the project site meets the definition of blighted property in state law, allowing the TIF district. In addition, the project as of May 20, 2024, involved a plan to build an 85,000-square-foot sports complex, 'but the City Council wanted a larger, more regional facility, so that's what we did. We expanded the district and expanded the tax base' to build a larger complex. 'This will be a top facility in the state of Missouri' that could compete against other cities with sports complexes, Snyder said.
Yahoo
05-02-2025
- Business
- Yahoo
Woodsonia reveals new multimillion-dollar retail, sports venue option for Gretna good life district
An amphitheater with 15,000 to 17,000 seats and a covered roof, spanning 120 acres and attracting 50 major concerts a year, would be a signature component of Woodsonia's proposed transformational project at the Gretna good life district near the Nebraska Crossing shopping center at Interstate 80 and Highway 31. (Courtesy of Woodsonia) (Courtesy of Woodsonia Real Estate) GRETNA, Nebraska — An alternative multimillion-dollar retail and entertainment project surfaced Tuesday night as a potential lifeline for the embattled Gretna good life district once led by businessman Rod Yates. Drew Snyder of Woodsonia Real Estate revealed his vision to the Gretna City Council, showcasing signature features such as a 15,000-seat outdoor concert amphitheater and a world-class multisport facility. His hope, which was mirrored by the City Council, is to keep alive the 2,000-acre good life district designation and related state financial incentives previously approved by state officials for the creation of a unique destination. The future of the Gretna district — the largest and most high-profile of five allowed under the state's Good Life Transformational Projects law — has been up in the air since Yates asked to terminate his state-approved application that established the project site. Officials at the Nebraska Department of Economic Development have given the city and other developers until Feb. 12 to submit evidence that a transformational project is still viable at the site and that the designation should not be dissolved. The district includes and surrounds Yates' Nebraska Crossing shopping center at Interstate 80 and Highway 31. Snyder, in partnership with Kansas City-based 635 Holdings, said he wanted to present his development and financial plan to the council before he submitted it to the DED. His message: 'State of Nebraska, don't shut the district down. Keep this district intact, and let us move forward with these projects. Amazing things can happen.' Snyder called the proposed $125 million outdoor amphitheater 'an absolute needle-mover' for state tourism that would span 120 acres and host about 50 major concerts a year. Envisioned also across about 700 acres: a Jack Nicklaus-designed golf course surrounded by housing; a St. James multisport facility, a JW Marriott hotel, a retail campus spanning 400,000 square feet and a giant Wally's 200-pump gas station and travel center. As approved by the state under the Altogether, Snyder said, those pieces are projected to bring in up to about $700 million in total gross revenues a year, about 30% of that in sales from out-of-state visitors. He expects to attract up to 7.5 million visitors annually, about 2 million of them from other states. Tourism dollars and unique attractions are key components of good life districts and considered crucial to keeping the designation, said Gretna Mayor Mike Evans. While the City Council did not formally endorse the Woodsonia redevelopment plan Tuesday night, Evans said it is central to a separate package and economic development study the city will submit to the DED to prove the district is still viable and should retain its distinction. Evans said that Woodsonia, as any other developer, would have to go through an approval process later if the district remained intact. Other moving parts also could impact the future of the Gretna good life district — and possibly the three other state-approved districts in Omaha, Grand Island and Bellevue as well. Nebraska Gov. Jim Pillen, who has raised questions about the good life district law, seeks to 'reverse' the state's sales tax diversion and clawback the public funds that had been carved out to help build out the good life districts. Those changes, proposed in the governor's two-year budget, would first have to be debated by the Nebraska Legislature. At least three different state lawmakers also have introduced good life district-related bills that could spur substantial changes. Some lawmakers have criticized how the state incentive for the good life districts played out. The Legislature cut the state sales tax within approved districts from 5.5% to 2.75%, with the idea being that the difference would be recaptured to help pay for major development of the district. In the case of Gretna, as the process dragged on, about $2.2 million in taxes went uncollected and was essentially lost. The district did not see that money, as a special election needed to access the revenue was delayed. City residents narrowly approved the district's taxing authority in January. The affirmative vote allowed city officials to develop an economic development program, and the city, starting in March, will start recapturing the vacated state sales tax, Evans said Tuesday. Another factor in play is that Yates has not given up his pursuit of developing a mega sports-focused campus in the district that includes and surrounds his Nebraska Crossing shopping center, though he is seeking a different path and now has a slimmed down 1,000-acre version of his vision. 'We're going 100 miles an hour,' Yates told the Nebraska Examiner on Tuesday. Yates said his team currently is working with State Sen. Beau Ballard of Lincoln, who has introduced legislation that provides Yates another shot at the project he has worked on for two years. The first phase would rise, Yates said, on property within the existing district boundaries, but it would be governed by different rules and incentives outlined in Ballard's Legislative Bill 637, the Destination Nebraska Act. Yates said he hadn't heard details of other plans for the area and couldn't comment on the possibility of co-existing with other developers in the general area. He said he is awaiting the DED's determination on whether to dissolve the Gretna good life district. 'The more relevant question is where is the DED in all this?' said Yates. One thing for sure, Yates said, is that his revised plan would not require approval from the City of Gretna, which rejected his earlier demands. Gretna officials said Yates' terms were too risky for taxpayers and that he essentially wanted the city to use its power of eminent domain to forcibly acquire land from other property owners for his project. Yates said he recently had a 'town hall meeting' with property owners in his latest 1,000-acre quest, and was pleased with the reception. Evans, on Tuesday, said there is room in the good life district for multiple developers and said he welcomes Yates to return to the negotiation table. During his presentation, Snyder thanked Yates for his 'vision and fortitude' that helped launch the good life district legislation. He said his team has — which has developed numerous multi-use projects in Nebraska, including the Topgolf Omaha development — already invested millions of dollars in preparing its plan and has partners and financial commitments in place. Woodsonia owns about 150 acres of the 700-acre campus it envisions. Snyder said the rest is under a contract to buy or in negotiations. If DED gives the green light, he says, the proposed $400 million retail campus and 50,000-square-foot Wally's gas and travel center would begin quickly. Wally's, a national brand, is projected to pull in 2.5 million visitors a year who likely would shop and spend money at surrounding venues, Snyder said. Anthony Montemarano, who owns a landscape company in the district boundaries, was among a few property owners who addressed the City Council. Montemarano said he has always been 100% supportive of seeing a transformational project rise at the site, and also was encouraged by Yates' plan. He said he mostly wanted to understand 'what was going on' and now feels like he is better informed. 'It appears as though we're going to begin,' said Montemarano. 'Let's get the show on the road.' SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
