Plans to remake a 1960s apartment complex in downtown Kansas City, Kansas, into affordable housing are moving forward. American Community Developers Inc. requested $21 million in multifamily housing revenue bonds from the Kansas Development Finance Authority to renovate the Gateway Plaza apartment complex at 1430 N. Fourth St. Based on a Kansas statute, KDFA cannot issue bonds for a project if the local government disapproves. The Unified Government of Wyandotte County/Kansas City, Kansas, initially voted 7-3 on Thursday in support of an ordinance of disapproval, which prevents KDFA from issuing the bonds for at least a year.
Source: Kansas City Business Journal
