News Flash

Website News

Posted on: March 28, 2023

No Easy Solution to Aggieville Challenges

MM - 1

Manhattan is facing one of these in Aggieville. Back 9 Development recently had to put its Midtown Project on hold because of external financial factors. Specifically, the company lost a key investor in the project. Back 9 Development is still moving forward and is working on several different scenarios that include a new financial partner or modified building.
 
The announcement set off a lot of online discussion. Here’s what we know. The City of Manhattan agreed to transfer the lot at 12th and Laramie to Back 9 under the conditions that it construct a project of no less than $40 million. This will generate significant revenue for the city’s Tax Increment Finance District, which captures additional property taxes in a defined area to help pay for the infrastructure in the Aggieville redevelopment overall project. If Back 9 does not complete a $40 million project, they owe the city $2.3 million as the acquisition cost for the property. You can find the agreement here (Item 5B of the April 19, 2022 agenda).

So, the City will receive either a significant TIF benefit (over $500,000 annually for up to 15 years) or will receive a payment for the property higher than its appraised value. While I’m sure all city officials want to see the project completed, it is a financial benefit to the city in either case.

However, there is the matter of access and parking. As we’ve mentioned here before, the parking situation is incredibly difficult by all accounts. While its true that there are more stalls in Aggieville today than a year ago, they are in some cases further from some establishments and there are individuals that either won’t walk the distance or will not use the new garage, citing confusion over how to pay.

The second garage was supposed to begin soon after the Midtown project started but it appears to also be on hold. It is also worth noting that many of the access challenges in the district are part of the entire Aggieville redevelopment and unrelated to the Midtown project specifically. These infrastructure improvements will be continuing over the next several years regardless of the project status.

Several ideas have been kicked around that deserve consideration. One idea was suggested by the Aggieville Business Association Board of Directors last week. According to an email we received from Dennis Cook, the ABA “is requesting the City waive parking fees in the parking garage through July 31.” The note says the move will help struggling businesses get through at least K-State graduation and would also give time to help educate the public on the use of the ParkMobile app, which is the suggested way to pay to use the Aggieville garage.

The request has been forwarded to city officials for review. There have been other ideas put forward as well. The Chamber’s Business Advocacy Committee and Board of Directors will look at any suggested solution for the challenges in the district and will let you know which, if any, we support. However, the main thing you can do to help is continuing to do business with your favorite Aggieville proprietor.

Again, there are no easy answers. But we should be working together on solutions. The Chamber is committed to helping however we can. In the meantime, think MHK, shop local and continue to visit Aggieville.

Facebook Twitter Email

Other News in Website News

MM - 1

New Funds, New Director for Spark

Posted on: February 20, 2024
MM - 1

Mayor, Chamber Chair to Speak Thursday

Posted on: February 13, 2024
Volunteer of the Year 23

Manhattan Area Chamber of Commerce names Jim Morrison as C. Clyde Jones Volunteer of the Year

Posted on: February 12, 2024 | Last Modified on: August 12, 2021
MM - 1

Update on Important Initiatives

Posted on: February 5, 2024
MM - 1

Housing a Critical Community Issue

Posted on: January 30, 2024
20240119_095523

Flint Hills Regional Leaders Retreat

Posted on: January 22, 2024
Retreat ad

Regional Leaders Retreat

Posted on: January 9, 2024
15Under40 winner post

Chambers Name 2024 15 under 40 Winners

Posted on: January 3, 2024
MM - 1

Happy 2024!!!

Posted on: January 2, 2024
MM - 1

Elevate Fund Gets off the Ground

Posted on: December 19, 2023
MM - 1

Aggieville Project on City Agenda

Posted on: December 11, 2023
MM - 1

Chamber Congratulates Ron Fehr

Posted on: December 6, 2023
MM - 1

Christmas Season is Upon Us

Posted on: November 20, 2023
401606169_721131593379941_822458629472927723_n

Manhattan Hospitality Industry Celebrated

Posted on: November 17, 2023
Challenge for email

Chamber Presents Local Think MHK Challenge

Posted on: November 13, 2023
MM - 1

Local Elections Nearing End

Posted on: October 30, 2023
MM - 1

Nominations Open for YP Award

Posted on: October 26, 2023
MM - 1

A Potential Solution to Rising Taxes

Posted on: October 17, 2023
MM - 1

Manhattan in D.C. to Support Fort Riley

Posted on: October 10, 2023
MM - 1

Leadership Manhattan Planning New Year

Posted on: September 25, 2023
MM - 1

Candidates Respond to Chamber Questions

Posted on: September 11, 2023
Business Awards fnl logo 2

KS StateBank Named Cornerstone Winner

Posted on: September 5, 2023
MM - 1

Are You Ready for Some Football?

Posted on: August 28, 2023
MM - 1

Stampede Gets Publicity with RFP

Posted on: August 18, 2023
MM - 1

Taxes and Economic Growth

Posted on: August 4, 2023

Chamber Blue Interest Surveys Due

Posted on: July 11, 2023
MM - 1

Chamber Staff Promotions

Posted on: June 27, 2023
MM - 1

Chamber Earns 5-Star Designation

Posted on: June 12, 2023
MM - 1

Dual Career Program Launched

Posted on: June 7, 2023
MM - 1

Entrepreneurship Funding Approved

Posted on: May 22, 2023
MM - 1

New Diplomats Program Unveiled

Posted on: May 4, 2023
Signing Day Social Media Post 1

Chamber to Support MATC Signing Day

Posted on: April 11, 2023
MM - 1

Commission to Consider Development Studies

Posted on: February 27, 2023
MM - 1

To the 'Ville

Posted on: February 13, 2023
Treat em Right logo

Treat 'Em Right Manhattan

Posted on: February 1, 2023
AM logo 23

Annual Meeting Changing for the Better

Posted on: January 23, 2023