The interest rate table above illustrates recent changes in a sample of MBIS “investment grade” yields. Every issuer’s credit is different. For rates that may be applicable to your municipality, contact our Municipal Bond Advisors, Larry Kleeman and Beth Warren.
In a complete reversal from an October rejection, the Overland Park Planning Commission unanimously agreed Monday to recommend approval of a rezoning request to create The Lux Senior Living, an apartment complex for active adults over 55, at the northwest corner of 137th Street and Quivira Road. Developers Vijay and Nevin Dewar, through Park 289 LLC, are requesting roughly six acres of land be rezoned from a Planned Apartment District (RP-5) to Planned High-Rise Apartment (RP-6). The property was zoned RP-5 in 1999, but has not been developed. The current zoning would allow for the construction of up to three buildings with a total of 104 units. Following a public hearing in October, the Planning Commission voiced concerns about the overall height of the project not fitting into the nearby single-family neighborhood. In November, the City Council sent the proposal back to the Planning Commission to allow the developer time to adjust the plan based on neighbors’ concerns.
Source: Kansas City Business Journal – The Business Journals
With a majority of the Derby school bond projects having been completed, Burke Jones, Derby Public Schools Director of Operations proposed some additional projects to the Board of Education. Those ideas centered on how to spend the remaining $2 million of school bond money. At the Feb. 7 meeting, Jones told board members the $2 million are reserves that were held back to be available in the event any unforeseen expenses may have occurred with previous projects. “We have about $2 million in the bond funds remaining. Some of the projects we have been discussing in the last two years, we can now talk about,” Jones said.
Source: Derby Informer | News
Pottawatomie County commissioners are submitting paperwork to the Kansas Department of Health and Environment toward cleaning up some waste build up on a property near St. George. County Sanitarian Scott Schwinn told commissioners Monday he’s received complaints about the property and says efforts to have the property owners clean up the debris have been unsuccessful. “Ultimately, they declined to clean it up. The county is going to be on the hook for cleaning it up and we will be reimbursed up to $10,000 for that,” he said. Anything above that $10,000 threshold will be the county’s responsibility.
Source: 1350 KMAN
U.S. Treasury yields were steady on Monday with investors evaluated safe-haven assets amid the escalated geopolitical tensions between Russia and Ukraine. The yield on the benchmark 10-year Treasury note was flat at 1.961% at around 8 a.m. ET. The benchmark 10-year rate hit the 2% level last week following the hottest inflation reading in four decades. The yield on the 30-year Treasury bond, meanwhile, was steady at 2.261%. Yields move inversely to prices and a basis point equals 0.01%. Yields were lower earlier but came back following comments from Russia’s Foreign Minister Sergei Lavrov to Vladimir Putin that appeared to suggest Russia would continue talks with EU and NATO over Ukraine.
Source: CNBC – Bonds
A new wave of school districts throughout the Kansas City metro this week dropped mask mandates as COVID-19 cases fall. They include the Blue Valley and Shawnee Mission districts in Johnson County and the Independence and North Kansas City districts in Missouri. The decisions come as school officials expect both the Johnson County Board of Commissioners and the City Council of Kansas City to let their school mask orders expire. In Johnson County, the board at its meeting on Thursday is expected to consider whether to end its health order mandating masks in all schools that serve students as old as sixth grade. The Gardner Edgerton school district last week already decided to drop its mask mandate in all schools, starting on Monday.
Source: Joco 913 News
Grass wildfires in both Reno and Butler county have triggered evacuations as authorities work to contain the spread, according to social media posts. Butler County Emergency Communications says there is fire in the area of northwest Highway 196 and northwest 10th. They are asking people to avoid the area. In Reno County, the Hutchinson Fire Department is working a large grass fire in the area east of Hutchinson south of 30th Street and Obee. Traffic is being blocked on 30th to allow fire crews to fight and contain the spread. People are advised to evacuate the area.
Source: Local News | Wichita Eagle
Two separate entities have expressed interest in the vacant lot at 513 W. Washington Ave., the former site of the Arkansas City water treatment plant. During a city commission work session Friday, City Manager Randy Frazer said that he had been approached by local contractor Brandon Jellings about the possibility of putting up housing on that site. Cowley College President Dennis Rittle had also expressed interest. Frazer said that he recently met with Jellings to tour the property and explain a few of its drawbacks. Old water tanks and other types of debris had been buried on site after demolition.
Source: The Arkansas City Traveler
Wichita is one step closer to privatizing management of its public golf courses after back-to-back profitable years. The city’s park board on Monday gave its stamp of approval to a five-year agreement that would shift management of the city’s golf system to an out-of-state private company. Wichita city government would retain ownership of its four golf courses and pay Kemper Sports Management $200,000 a year to manage them. The city would be responsible for any losses.
Source: Local News | Wichita Eagle
Iola got a sweetheart deal on Valentine’s Day, as school board members learned a Kansas City company wants to convert all three of its elementary schools into housing, an investment worth about $20 million. At a meeting Monday, school board members voted to pursue an agreement with BNIM, an architecture and design firm based in Kansas City, Mo. Under the deal, BNIM would partner with two other entities to secure financing including tax credits for low-income housing and historic preservation. They would remodel all three elementary schools in three phases: Jefferson and McKinley Elementary schools would be renovated to create 39 apartments in the first phase; Lincoln would be converted into 22 apartments in the second phase; In the third phase, they would build single-family homes, duplexes and possibly quad-plexes on land surrounding the schools, such as areas currently used for parking lots or playgrounds.
Source: The Iola Register
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