The City of Topeka is in the process of purchasing Heartland Park Topeka (HPT) and expanding the STAR Bond district that currently encompasses HPT property. Expanding the STAR Bond district simply means the State's portion of the taxes levied on the properties in the district will be reallocated to the City. The deal WILL NOT raise taxes or create any new ones for anyone. On August 12, 2014, the City Council voted to approve the purchased of Heartland Park and the STAR Bond district expansion. This acquisition will allow the City to meet its ongoing debt obligation associated with Heartland Park. If the plan does not move forward, there will be an $8 million shortfall for the City in the coming decade. Under the proposed plan, the City will meet its financial obligations without having to raise any taxes. |