Bellmont Promenade project in Shawnee receives approved funding from city council

By Madison Parry

Just over half of Shawnee City Council members voted to approve a funding agreement with Kansas City-based Legacy Development for the Bellmont Promenade project. The firm will pay the city $150,000 for further study of plans for the proposed mixed-use development.

A funding agreement plan for the Bellmont Promenade project in Shawnee, Kan. barely passed approval during a Shawnee City Council meeting earlier this week.

Three of eight city council members present at the Oct. 26 meeting approved a funding agreement with Kansas City-based firm Legacy Development.

Bellmont Promenade is a proposed mixed-use development with an estimated cost of $80.5 million. Plans show it would sit at the southwest corner of Shawnee Mission Parkway and Maurer Road.

Legacy Development is expected to pay the City of Shawnee $150,000 for further study and review of development plans.

In April, the Shawnee City Council authorized a bond issuance to provide tax increment financing, sales taxes and special assessments for the Bellmont project. However, this authorization expired Aug. 1. 

Following Monday’s meeting, next steps for the Bellmont project will focus on review and will involve determining if a $19.5 million special obligation revenue bond is necessary for the project to be completed.

Now, the developer is seeking additional financing to cover the project’s cost after claims that net proceeds from the issuance would not be enough to complete Bellmont Promenade.