The Sedgwick County Commission approved a multimillion dollar plan for the future of Union Station.
In a 3-2 vote, the commission agreed to outline a tax increment finance (TIF) district. The City of Wichita did the same about two weeks ago.
“Ultimately, we want a place where there is a lot of public interaction. A lot of live, work and play ability there,” said Chad Stafford, president of Occidental Management.
The project is expected to cost $54 million. The TIF would help finance $17.3 million of the project with future tax dollars. However, the agreement outlines that the money cannot be borrowed until after the initial investment is paid.
Some worry that the project will face complications. Commissioner Richard Ranzau said it may be difficult — and expensive — to maintain the building’s name on historic registries.
“Perhaps the ultimate solution is to get it off the historic registry or change the rules and regulations that the government puts on buildings,” Ranzau suggested. He and commissioner Karl Peterjohn voted against the TIF district.
However, developers said the TIF assistance will provide everything necessary to giving downtown Wichita a facelift — one they hope will attract business and young adults.
“Union Station has been vacant for seven years plus. So, it’s been a long time since someone’s been there utilizing it, so we’re excited to get this close to being able to turn a shovel,” Stafford said.