Frequently Asked Questions
What is Edge District 3.0?
Edge District 3.0 is the next phase of development in the Edge District, representing approximately $304 million in planned investment. Projects include the Bilbrey Family Event Center, K-State Indoor Track, BIVAP biomanufacturing facilities, Edge Tech and Hi-Bay innovation space, and Champions Gate – a mixed-use development planned to include hotels, residential units, restaurants and public spaces. Together, these projects are intended to expand K-State's research and innovation capabilities, create applied learning and industry partnership opportunities, attract visitors and new businesses, and generate economic activity throughout Manhattan.
Why is Edge 3.0 important?
Universities increasingly compete not only through teaching and research, but through applied research, commercialization, industry partnerships and hands-on learning opportunities for students. Edge 3.0 is designed to strengthen those connections by creating spaces where K-State researchers, students, businesses and industry partners can work together.
For Manhattan, the opportunity extends beyond the university. The plan is intended to attract businesses and visitors, support local restaurants, retailers and hotels, create jobs and student learning opportunities, expand K-State's research capabilities, and generate new community tax revenue.
How is Edge 3.0 funded?
Edge 3.0 represents approximately $304 million in total investment. About 84% of the funding is expected to come from private investment, philanthropy, and state or federal sources, with approximately 17% supported through public financing tools: STAR Bonds, Tax Increment Financing (TIF) and a Community Improvement District (CID).
These public tools are designed to be performance-based, meaning they rely on economic activity generated by development rather than funding from the City's existing budget. The current capital structure identifies approximately $51.4 million from STAR Bonds, TIF and CID combined.
What is being requested through the public financing tools?
The proposed financing structure includes approximately:
- $27.1 million in STAR Bond funding
- $11.2 million in TIF funding
- $13.1 million in CID funding
Together, these tools represent approximately $51.4 million of the $304 million project, or about 17% of the total capital structure.
What are STAR Bonds?
Sales Tax and Revenue (STAR) Bonds are a Kansas-authorized economic development tool repaid through new state and local sales tax revenue generated within a designated district. For Edge 3.0, only new sales tax generated above the established baseline is captured for repayment; existing tax revenues continue to flow to the respective jurisdictions. STAR Bonds are not backed by the City's taxing authority or general fund.
What is Tax Increment Financing (TIF)?
TIF uses a portion of the increase in property tax revenue created by new development to help pay eligible project costs. The property's baseline value is established first, and eligible property tax revenue generated by the increase above that baseline becomes the “increment.” TIF does not create a new tax or abate property taxes.
What is a Community Improvement District (CID)?
For Edge 3.0, the CID would generate revenue through a 1% sales tax within the CID district to help finance eligible project costs.
Does Edge 3.0 use money from the City's existing budget?
No. The plan does not use funding from the City's existing budget or require additional City investment in infrastructure. It also does not use tax abatements or create debt risk for the City.
Will my property taxes increase because of Edge 3.0?
Edge 3.0 does not create a new property tax or use property tax abatements. Under TIF, a portion of the future property tax revenue generated by increased property values within the district is used for eligible project costs.
What happens if the projects do not generate the anticipated revenue?
The financing model is performance-based. Public financing relies on incremental tax revenues generated by economic activity within the district, and project materials state that the developer bears the financial risk associated with project performance and financial shortfalls.
How does Edge 3.0 benefit the community?
Edge 3.0 is intended to create benefits that extend beyond the district, including:
- Jobs and hands-on learning opportunities for students
- Expanded K-State research capabilities
- Space and support for businesses and entrepreneurs
- Greater opportunities for corporate and industry partnerships
- New event and entertainment destinations
- Visitor spending at local restaurants, retailers and hotels
- New community tax revenue
- Greater national visibility for Manhattan and K-State
An economic impact study presented with the project estimates 95,026 to 108,703 annual visitors and $24.6 million to $28.1 million in annual visitor spending, with an estimated $11.0 million to $12.6 million occurring outside the district each year.
What's at stake?
Edge 3.0 represents an opportunity to build on K-State's strengths in research, education and industry collaboration while creating new economic activity for Manhattan. Moving the plan forward would support new research and innovation facilities, expanded applied learning opportunities, visitor-generating event and athletic facilities, and mixed-use development designed to attract businesses, talent and investment.
The decisions being made today will help shape how Manhattan and K-State compete for future research investment, industry partnerships, talent and economic growth. Edge 3.0 represents an opportunity to build that momentum now, creating new destinations, attracting visitors and investment, and strengthening K-State’s ability to compete nationally. Project studies estimate more than $200 million in visitor spending outside the district over 20 years and approximately $58.2 million in City of Manhattan tax revenue during that period.