The Garden City Telegram

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Holcomb approves neighborhood revitalization program

Published 8/26/2010 in Local News

By SHAJIA AHMAD

sahmad@gctelegram.com

HOLCOMB — Holcomb City Council members have adopted a neighborhood revitalization program they hope will encourage greater residential and commercial development and ultimately increase the city's property tax base.

The new program will allow taxpayers to receive a rebate for a portion of their property taxes for both new development or for improvements made to a home or business that increase a property's assessed valuation.

Council member Gary Newman applauded the plan during Wednesday's city council meeting and said the revitalization program would benefit Holcomb in the long run.

"Today, we have just empty lots collecting minimal to no property taxes. And even with (a tax rebate) for one to five years, that's still tax dollars we didn't have before," Newman said. "And as a result, it'll reduce everyone's property taxes."

Finney County Economic Development Corp. President Eric Depperschmidt, who has been working with Holcomb city officials on the program's details for several months, outlined the plan Wednesday before the council unanimously approved the initiative.

Residential properties would be eligible for a tax rebate of 50 percent on either a new development or the portion of taxes paid on an improvement in the first year. The tax rebate would decimate in value over the course of five years.

New development of commercial properties or the taxes paid on an improvement would be eligible for a tax rebate in full the first year, decimating in value over the course of 10 years.

Residential improvements or development must be made at a minimum of $2,500 and commercial or industrial development or improvements at a minimum of $5,000 to qualify for the program, the council agreed to Wednesday.

Garden City has had a similar neighborhood revitalization program in place for about a decade, according to City Planner Tim Hamilton.

Hamilton said residential property owners primarily have taken advantage of the incentive to build or add additions to their homes. Despite wide participation, Hamilton said, it was difficult to pinpoint the program's success.

"People have taken advantage of it, but we'd like to see more people take advantage of it," the city planner said. "Basically, it's an incentive to help out those areas where we'd like to see an increase in property values, and it has helped those areas out."

Depperschmidt told Holcomb council members Wednesday that improvements that would qualify under the revitalization program would include large-size exterior renovations, such as additions to an existing home.

The program more than likely would not include interior remodeling, such as basement finishing, or new siding projects unless the improvements greatly increase the assessed valuations of a home or business, according to Depperschmidt.

The FCEDC president said he planned to approach officials from Holcomb's other taxing entities with an inter-local agreement so that program participants can qualify for a tax rebate from them, as well.

Those taxing entities include USD 363, Garden City Community College, Finney County, the Sherlock township, and Drainage District 1, according to City Administrator Robin Peña.

Rebates under the neighborhood revitalization program do not include the state mill levy.

The taxing entities could choose not to participate but more than likely will, Depperschmidt said Wednesday.

In addition, Garden City's neighborhood revitalization program limits commercial development with estimated project costs of m ore than $2.5 million from qualifying, according to Hamilton.

Holcomb council members agreed Wednesday not to set a ceiling for the cost of a project that qualifies for the revitalization program.

Holcomb's total estimated assessed valuation in 2010 is $8.9 million, consisting mostly of real estate property. The city's valuation in 2009 was $8.4 million.

In other business, the council also took the following action or discussed the following during its Wednesday meeting:

* The council approved a bid from Inkt Graphics, 112 E. Santa Fe, for up to 30 poly canvas banners, including design, material and printing costs and hardware, to place along Jones Avenue, Main Street and possibly Railroad Avenue.

The council had approved spending up to $5,000 for new canvas or vinyl flags that exhibit "Longhorn pride," USD 363's mascot, earlier this summer.

The council also approved the purchase of a second set of light pole banners for the spring of 2011 from the Good Sport, 220 N. Main St., in Garden City.

The Good Sport is owned by Brian Rupp, a Holcomb council member. Rupp excused himself from the discussion and vote on the banners.

The city council only received bids from The Good Sport and Inkt Graphics for the banner projects.

* Holcomb Police Chief Clint Thompson presented Officers Josh Tipton and Anthony Forsen with certificates of commendation. Thompson recognized Tipton for his work on Holcomb's first annual Child Safety Day and Forsen for removing seven intoxicated drivers from Holcomb streets over the part year.

"Your officers deserve recognition, especially when times are tight and when you can't give them the raises they deserve," Thompson said Wednesday.

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