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Pittsburg area growth continues

The Pittsburg State Kelce College of Business has released its economic summary for the first quarter of 2024. Overall, the Pittsburg Micropolitan Statistical Area (PMSA) is still growing, often at rates above the state and national averages. According to the summary, Pittsburg’s economy relies on small businesses, those with fewer than 50 employees, which make up more than 94 percent of all businesses in the area. Supporting these businesses requires a healthy local banking industry to supply capital for growth and expansion. On average, small, local banks approve 82 percent of small business loans, while larger, national banks average a 68 percent approval rate.
Source: Morning Sun

2024-05-01T14:02:42-05:00May 1, 2024|News|

De Soto tackles major infrastructure upgrades amid development boom

Upgrading public infrastructure is the first hurdle De Soto must clear as city leaders navigate a generational boom in economic development. Panasonic’s plans to build an electric-vehicle battery manufacturing facility in De Soto kicked off a tight deadline to make water, sewer, road and electrical infrastructure upgrades before the plant’s production start date, City Administrator Mike Brungardt said.
Source: Kansas City Business Journal

2024-05-01T14:01:55-05:00May 1, 2024|News|

Fort Scott Fire water rescue stay busy; Near record flooding City Manager says

Due to the heavy rains across SE Kansas the past two days the Marmaton River [pron: Mar-muh-ton] has grown out of its banks, cutting off a portion of Fort Scott to nearby Missouri and north to US-54. But it’s nothing new. It just doesn’t happened all the time. The Fort Scott City Manager Brad Matkin stated Sunday morning, “the city has had about 10-inches of rain in the past 48 hours and we have a lot of flooding.” He continued by asking citizens to stay home Sunday.
Source: KOAM News

2024-05-01T14:01:07-05:00May 1, 2024|News|

Kansas AG says Johnson County didn’t break open meetings law after commissioner complaint

The Kansas Attorney General’s Office has found the Johnson County Commission did not violate the state open meetings law last year when it discussed salary raises for three top employees behind closed doors. But, the office did call for Johnson County to implement some changes after discovering a few technical issues with how the commission has called closed meetings.
Source: Joco 913 News

2024-05-01T13:59:42-05:00May 1, 2024|News|

Governor Kelly signs train setback bill

The train safety bill originally pushed by State Senator Carolyn McGinn was signed by Governor Laura Kelly. House Bill 2501 requires trains in Kansas to park 250 feet back from the railroad crossing, unless the Department of Transportation requires a different distance at a location. “I am glad that we were able to pass the set backs for trains,” McGinn said in an email. “The 250-foot setback will help drivers have the opportunity to see approaching trains.”
Source: Harvey County Now

2024-05-01T13:59:22-05:00May 1, 2024|News|

Olathe puts finishing touches on ‘significant’ trail project’s latest phase

Olathe recently put the finishing touches on the much-anticipated second phase of its Cedar Creek Trail. Last week, city leaders officially celebrated the completion of this phase of the trail with a ribbon-cutting ceremony. This most recent round of work on the Cedar Creek Trail fully connects the nearly 260-acre Lake Olathe Park on the city’s western side to Cedar Lake Park in southern Olathe.
Source: Johnson County Post

2024-05-01T13:58:45-05:00May 1, 2024|News|

Why Wichita’s Century II is salvaged but not quite saved

Even as workers finished replacing the distinctive blue roof of Century II, the flying saucer of a convention center that landed in downtown Wichita in 1969, the fate of the landmark and the area surrounding it remains strangely murky. After a master plan that pushed to replace it, a grassroots campaign to save it, and political and legal fights that amounted to a battle for the future of Wichita – and the past’s place in it – five long years of discussion haven’t brought much clarity. For now, Century II has avoided the fate of its predecessor, the Forum. But its endurance seems less a victory than a stalemate, based on interviews with community members and architecture experts.
Source: KLC Journal

2024-05-01T13:57:15-05:00May 1, 2024|News|

Duplexes a possible way to make home ownership more in reach in Wichita

The Moores are among hundreds of homebuyers turning to duplexes in lieu of pricier, single-family homes. Although statistics don’t distinguish between duplexes built for lease and those for sale, permits for “two-family” housing have tripled for Wichita area in the last six years —from 250 in 2018 to 754 in 2023, according to the U.S. Census Bureau. Professor Stan Longhofer, director of Wichita State University’s Center for Real Estate, said the reason for this growth is simple: buyers want to save money and developers want to profit from their investments at a time when construction costs have increased 47% since the pandemic. Wess Galyon, president and CEO of the Wichita Area Builders Association, estimated that 10% of the new duplexes get sold to individuals and not, as still happens, to large investment firms that lease them by the hundreds.
Source: KLC Journal

2024-05-01T13:56:33-05:00May 1, 2024|News|

How High Wall Street Thinks the Fed Will Keep Interest Rates

At the start of 2024, investors expected the Federal Reserve to cut interest rates substantially this year as inflation cooled. But price increases have been surprisingly stubborn, and that is forcing a rethink on Wall Street. Investors and economists are questioning when and how much Fed policymakers will manage to cut rates — and some are increasingly dubious that Fed officials will manage to lower them at all this year. Inflation was coming down steadily in 2023, but that progress has stalled out in 2024. The Fed’s preferred inflation index climbed 2.8 percent in March from a year earlier, after stripping out volatile food and fuel costs, data on Friday showed. While that is down substantially from a 2022 peak, it is still well above the central bank’s 2 percent goal.
Source: NYT > Business

2024-05-01T11:53:49-05:00May 1, 2024|News|

City hopes new initiative will help solve affordable housing problem in Wichita

Shanna Ramey has lived in a city-owned rental home for nearly two decades. It’s where she raised her three kids and created a lifetime of memories, so it was devastating when she heard the news that the city of Wichita was selling all of the 300-plus homes it owns, including hers. “It was a lot of ups and downs. It was a lot of tears, because I thought I was gonna have to start all over,” said Ramey. “It was hard. Horrible. Because I didn’t know what to start.” The city is giving all current renters the first right to buy the house they live in, which is something City Property Manager Sarah Gooding says isn’t always easy. “To qualify for public housing, and then to qualify as a homebuyer is a very challenging process. Public housing typically serves households at or below 50% of the area median income,” Gooding explained. However, Ramey desperately wanted to keep the home where she had raised her family, so she worked with the city to make it happen. “With those who have been interested in home ownership, we’re doing everything in our power to get them to a closing date,” said Gooding. With entire city-owned neighborhoods full of abandoned homes, some full of bullet holes, the city faced some scrutiny about the lack of affordable housing when it chose to sell them all off. To help offset this problem, the city recently approved a $5 million Affordable Housing Fund. This offers builders up to $40,000 per unit to renovate or build new affordable single-family homes.
Source: KAKE – News

2024-05-01T11:52:42-05:00May 1, 2024|News|
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