Over the past few weeks, the city has held public hearings to offer information and answer resident questions regarding the city's proposed amended and restated Shawnee Downtown Revitalization Project Plan.

Over the past few weeks, the city has held public hearings to offer information and answer resident questions regarding the city's proposed amended and restated Shawnee Downtown Revitalization Project Plan.

On Monday, Shawnee City Commissioners unanimously approved a proposal to extend its current Tax Increment Financing District (TIF) District and add a second district. No one stepped forward during the hearing to speak for or against the proposal.

The Project Plan extends the effective life of TIF 1 by 10 years (TIF 1 will now terminate in 2028 rather than the originally scheduled date in 2018) and a new TIF 2 (for 25 years) was created.

No new or increased taxes are involved.

In July City Manager Justin Erickson pushed for a reassessment of Shawnee's downtown revitalization project plan since the current TIF agreement was nearing expiration.

Over the past 13 years, the current TIF District generated about $692,000 for downtown streetscape improvement efforts since 2003.

TIF 1's Base assessed value (BAV) has previously been set at $1,545,667.

TIF 2's BAV value is to be set when the project plan is adopted, estimated at $1,600,000.

The projected increment is more than $13.5 million over the life of the project.

The projected increment could produce about $130,000 per year in near-term up to $700,000 per year in the long-term.

The city has several public investments in mind for the added funds:

• About $7,810,000 would go toward approved public infrastructure, facilities and improvements, which includes $500,000 for library improvements and $500,000 for Right-Of-Way improvements along Broadway fronting the Pottawatomie County Courthouse.

• $3,750,000 for development financing assistance

• Specific revenue source — $250,000 (5 percent of TIF 2 increment revenue is proposed to go to Shawnee Public Schools, estimated at $590,000 over 25 years and will not be subject to state school aid offset)

• Implementation/administration — $200,000

• Contingency — $100,000

The estimated portion of TIF 1 BAV attributed to the Aldridge Hotel was $31,080.

Starting in 2018, increment revenues from Aldridge Hotel distributed to taxing entities in proportion to operational mill levies.

The estimated total revenue distribution from Aldridge Hotel 2018-2028:

• Shawnee Public Schools — $135,000

• Pottawatomie County — $31,000

• Pottawatomie County Health Department — $7,800

• Pioneer Library System — $18,500

• Gordon Cooper Technology Center — $46,500

Detailed information — including the Financial Impact Report, Amended and Reinstated Project Plan and Eligibility Report — can be found at: http://www.shawneeok.org/revitalizationproject/.