STAR bonds

Wichita taxing district to expand

Wichita taxing district to expand

The City of Wichita plans to expand a special tax district. Next week the Wichita City Council will consider expanding an existing CID, or Community Improvement District, in the Delano neighborhood near downtown Wichita. A map provided by the city is nearby. Community Improvement Districts are a mechanism whereby extra sales tax is collected within a district. For this CID, the city asks to collect an extra two cents per dollar, which is the maximum allowed in Kansas. CIDs are distinguished from STAR bonds, in which incremental sales tax revenue in a district is captured and handled differently from the…
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Wichita considers a new stadium

Wichita considers a new stadium

The City of Wichita plans subsidized development of a sports facility as an economic driver. Originally published in July 2017. This week the Wichita City Council will consider a project plan for a redevelopment district near Downtown Wichita. It is largely financed by Tax Increment Financing and STAR bonds. Both divert future incremental tax revenue to pay for various things within the district.[1. Weeks, Bob. STAR bonds in Kansas. Available at https://wichitaliberty.org/kansas-government/star-bonds-kansas/.] [1. Weeks, Bob. Wichita TIF projects: some background. Available at https://wichitaliberty.org/wichita-government/wichita-tif-projects-background/.] City documents promise this: "The City plans to substantially rehabilitate or replace Lawrence-Dumont Stadium into a multi-sport…
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From Pachyderm: Economic development incentives

From Pachyderm: Economic development incentives

A look at some of the large economic development programs in Wichita and Kansas. Here's video of a presentation I gave at the Wichita Pachyderm Club this week on economic development incentives. The video was produced by Paul Soutar of Graphic Lens. View below, or click here to view at YouTube. Following, articles that address some of the topics I presented: Industrial revenue bonds in Kansas: Industrial Revenue Bonds are a mechanism that Kansas cities and counties use to allow companies to avoid paying property and sales taxes. Wichita TIF projects: some background: Tax increment financing disrupts the usual flow…
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In Wichita, spending semi-secret

In Wichita, spending semi-secret

The Wichita City Council authorized the spending of a lot of money without discussion. At its March 27, 2018 meeting, the Wichita City Council passed a resolution authorizing the spending of funds for the River Vista development on the west bank of the Arkansas River in downtown. The agenda packet for the meeting gave the details: "The overall project budget is $7,862,999 with STAR Bonds financing $4,750,000 of the costs and the City financing $1,050,000. The balance of the project costs will be assessed against the Improvement District." (STAR bonds are a mechanism whereby future sales tax revenue is routed…
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In Wichita, new stadium to be considered

In Wichita, new stadium to be considered

The City of Wichita plans subsidized development of a sports facility as an economic driver. This week the Wichita City Council will consider a project plan for a redevelopment district near Downtown Wichita. It is largely financed by Tax Increment Financing and STAR bonds. Both divert future incremental tax revenue to pay for various things within the district.[1. Weeks, Bob. STAR bonds in Kansas. Available at https://bobw7.sg-host.com/kansas-government/star-bonds-kansas/.] [1. Weeks, Bob. Wichita TIF projects: some background. Available at https://bobw7.sg-host.com/wichita-government/wichita-tif-projects-background/.] City documents promise this: "The City plans to substantially rehabilitate or replace Lawrence-Dumont Stadium into a multi-sport athletic complex. The TIF project…
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