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City changes its brand new CID policy

The hotel at WaterWalk will likely be the first community improvement districtJust two weeks after Wichita City Council members approved a new economic incentive policy, they’re loosening some of the rules.

As approved earlier this month, community improvement districts would allow developers to add a 2 cent sales tax to purchases made in a specified district. It would also allow them to charge special assessments to tenants of their properties inside the district. It would require every property owner in the district to sign a petition agreeing with the district plans. (more…)