The Hesston City Council approved selling property it owns to BHF Grocery Store, LLC, owned by Beneficient Heartland Foundation Inc. At its Feb. 12 meeting, the city council voted 5-0 to sell 0.57 acres of property located at the corner of Old Highway 81 and North Lancaster Street to the company for $50,000. “The 50,000 offer for the property is well above our investment in the property,” City Administrator Gary Emry said, adding that the city had invested $42.000 to $44,000 in the property so far. “I think it’s a good offer.” Emry described the property as serving as a domino piece in Hesston’s downtown grocery store project. The long-discussed project is to be paid through funds from the state’s TEFFI law, which allows the Beneficient company, with an office in Hesston, to offer financial services in the state, requiring two and one-half percent of the value of transactions to be given to the State of Kansas for rural development or used for the benefit of Hesston. Beneficient Heartland Foundation, Inc., oversees the spending of the funds to benefit the City of Hesston. A City of Hesston memo stated that the property will be used for the purpose of building a one-story office deposit institution, the property’s future owner.
Source: Harvey County Now
