Financing tied to sales tax revenue at Prairiefire, the large mixed-use development in Overland Park, is once again in default — two years after similar STAR bond struggles in the area.
Prairiefire, at 135th Street and Nall Avenue, is anchored by a natural history museum and features retailers unique to the region. The 60-acre development has been up and running for over a decade and has continued to see new tenants and construction announced.
Multiple financing structures were used to support the creation of the Prairiefire development, including sales tax-backed STAR bonds and community improvement bonds, alongside private funding…