Kansas Municipal News
AC hospital takes steps toward scaled down facility
The SCK Health Board of Trustees in Arkansas City took a step toward becoming a Rural Emergency Hospital on Thursday, and also moved to officially close its obstetrics department. CEO Jeff Bowman said that after discussion about converting to a Rural Emergency Hospital, which provides more funding opportunities to the hospital, but limits hospital stays to 24 hours on average, more than half of the OB department resigned in that one week.
Source: Cowley CourierTraveler
Gimme shelter: In wake of bank fail fallout, municipal bonds in demand
Municipals finished out a nerve-wracking week on a strong note, with yields falling by as much as nine basis points on the short end while U.S. Treasuries strengthened and equities came under pressure. As holders of bank stocks headed for the exits and muni investors looked on nervously from the sidelines as the Federal Open Market Committee met this week, bonds have seen renewed interest as the idea of safety suddenly became uppermost in eyes of buyers one again. The muni market started off the week on a quiet note, with action subdued in both the primary and secondary ahead of the Federal Reserve meeting on Tuesday and Wednesday. After the Fed raised rates once again, the market remained calm.
Source: The Bond Buyer
Ruined beauty of Kansas: Ghost towns and buildings splinter under weight of time
We first stopped by the unincorporated community of Miller, in Lyon County. Its post office had closed 65 years ago. On the main drag, a new fire department building sat on one side of the road, while an abandoned and overgrown former fire department building sat on the other side, a block away. My son and I, of course, looked over the abandoned one. On this March day, the gray undergrowth and blue sky lent the brick structure an austere kind of beauty. To the side of the building, you could glimpse this decayed sign, which suggested better times in the past. We poked around town some more, but we didn’t see much else that excited my son (or me, for that matter). Like many of the tiny Kansas settlements listed on “ghost town” websites, Miller isn’t totally abandoned. A few houses still obviously had residents, and gargantuan long-haul trucks parked in driveways suggested their occupations.
Source: Kansas Reflector
How small rural towns can access Inflation Reduction Act funding
Rural towns and utilities could get funding for all kinds of projects through the federal Inflation Reduction Act — but experts say it will take dedicated community members stepping up to help make that happen. The act, passed in August, has money for rural development and energy infrastructure, as well as electric vehicle infrastructure and incentives. There are incentives for homeowners to make energy efficient improvements to their houses. Communities with coal plants or natural gas plants can repurpose those into cleaner energy sources.
Source: KCUR News
Contentious Olathe apartment plan on Lenexa city line wins key approval
The Woodland Forest apartment project near K-10 and Woodland Road near Olathe’s border with Lenexa is one step closer to reality. Earlier this week, a divided Olathe City Council voted 4-3 to approve a preliminary site development plan and attached rezoning request that will bring multifamily housing to the last leg of the Woodland Corridor area in that city. That area of Olathe, annexed in the late 1990s, was identified for conventional single-family neighborhoods and green space development in line with the Woodland Corridor Plan.
Source: Prairie Village Post
Wichita Housing Authority Landlord Incentive Program provides bonuses to landlords
The City of Wichita is working to get more people off the streets. That’s why it launched the Landlord Incentive Program at the beginning of 2023. Sally Stang is the director of housing and community services for the City of Wichita. She says the problem isn’t necessarily a lack of housing assistance vouchers but a lack of housing for people to use those vouchers. “Much of that was driven by the market,” Stang said. “Rents have increased significantly, there was increased demand, landlords were choosing to take a market price tenant over an assisted tenant, less paperwork, etc.”
Source: KSN-TV
NLC Expands Support for Solar Energy Transition to 500 New Local Governments
The National League of Cities (NLC) is expanding its support for solar energy transition at the local level through its partnership with SolSmart, a solar energy designation and no-cost technical assistance program funded by the U.S. Department of Energy. Since the program launched in 2016, SolSmart has helped hundreds of local governments and their residents save time and money by reducing the soft costs of going solar, which are the non-hardware costs that drive up the expense of installations.
Source: NLC
March Madness in Kansas City means a boost in business for local vendors
Thousands of people traveled to Kansas City this weekend to cheer on their teams in the NCAA tournament at the T-Mobile Center. For local businesses, all of those fans meant a boost in business and a busy last few days. The Kansas City Sports Commission estimated a $14.5 million economic impact for the city. The T-Mobile Center hosted three games, two on Friday night and another Sunday to send a team to the Final Four.
Source: KMBC.com
Salina firefighter takes part in national strongman competition
While the Salina Fire Department is known for its swift response to fires, rescues and medical emergencies, it can now be known for a new accomplishment, employer of one of the world’s strongest firefighters. At the beginning of March, SFD firefighter Chris Rios traveled to Columbus, Ohio for the Arnold Sports Festival, where he competed in the World’s Strongest Firefighter Contest, placing 29th overall. “There were over 100 from all over the world that competed,” Rios said. “(Besides the U.S.,) we had people from Canada, Europe (and other places).”
Source: Salina Journal
Great Bend HR Director trying to create good culture in declining workforce
Great Bend Human Resources Director Randy Keasling is working with city staff to make employment with the city as a destination career. Over the past three years, city administration has concentrated on improving workforce culture to make sure the city is a place people want to work. Keasling noted getting people to apply can still be a struggle, especially the last three years since the beginning of the COVID-19 pandemic. The baby boomers, people born in the 1940s to 1960s, are starting to leave a large dent in the workforce with retirements.
Source: GB Post
Chapman, Herington mural projects highlight history
Public art projects have swept across Dickinson County in the past few years and more are in progress. Herington and Chapman can both expect new murals in the coming months to add to those already adorning otherwise blank, boring walls. “The murals are great because they have so many old buildings in our county that needs some sprucing up,” said Corkie Dunlap, of Herington. Over in Chapman, Tana Churan-Davis, owner of Prairie Horizon Art Studio and Gallery, said she sees the murals as a way to bring people to town. “People will come into a community just to see the murals,” she said. “You can use that as a fantastic advertising point.”
Source: Abilene Reflector Chronicle
Wichita firefighter training for amateur boxing charity event
Firefighting by night…sticking and moving by day is Carlye Anderson’s current daily routine. The Wichita firefighter is training for the Smoke and Guns charity event where firefighters amateur box the police department. Anderson has been with the fire department for two years and said her first year, she knew she wanted to be a part of the charity boxing event. “I’ve always wanted to try boxing for a different workout after I retired from gymnastics but getting into that charity event with them through the department and being able to work out with firemen every day was something that I really liked,” said 23-year-old Anderson.
Source: KAKE – News
Residents of unincorporated Johnson County can now apply for the 2023 Dust Control Cost Share program
Johnson County’s 2023 Dust Control Cost Share Program is now accepting applications. To be eligible for this program, residents must live on a gravel road in the unincorporated area of Johnson County. This program involves spraying a product on the gravel road in front of homes to help reduce the dust. The road will still look like a gravel road, but the dust created by traffic is significantly reduced. This is the fourth year of the program and each year has seen an increase in residents participating. The program covers a 400-foot treatment area, and the county will pay for half the cost to apply the product while the resident pays the other half. Additional footage must be paid by the resident at 100%.
Source: Johnson County Kansas |
Kansas lawmakers hear from businesses, city officials about growing homelessness issues
… city officials and other speakers … came to discuss Kansas’ growing problem with homelessness during a House Welfare Reform Committee roundtable discussion Thursday. The discussion comes after widespread backlash to House Bill 2430, a bill that would make it illegal to use state or local government property for unauthorized sleeping, camping or long-term shelters. Towns and cities with a higher per-capita rate of homelessness than the state average would lose state funding. After Kansans who had dealt with homelessness showed up en masse to voice disapproval of the bill, the committee pivoted to the roundtable idea, though critics say more substantial action needs to be taken, along with providing more mental health funding and community resources for people experiencing homelessness. With the rising cost of living prices, the impact of the COVID-19 pandemic and and a lack of mental health resources, homelessness has been again on the rise.
Source: LJWorld
Johnson County Emergency Communications Center earns award for dispatch excellence
Johnson County Emergency Communications Center has been recognized by The International Academies of Emergency Dispatch as an Accredited Center of Excellence for emergency medical dispatching. Johnson County ECC is the 277th Emergency Medical Dispatch ACE in the world. IAED is the standard-setting organization for emergency dispatch services worldwide. Accreditation (and subsequent re-accreditation) from the IAED is the highest distinction given to emergency communication centers, certifying that the center is performing at or above the established standards for the industry. Centers who earn ACE status are the embodiment of dispatch done right, and have demonstrated strong local oversight, rigorous quality processes, and a commitment to data-driven continuous improvement.
Source: Johnson County Kansas |
Lawrence-Douglas County Planning Commission forms subcommittee to tackle revisions to wind farm regulations
It’s not yet clear what the next draft of Douglas County’s revised regulations for wind energy development will look like, but it is clear that the work to codify the updated rules is far from finished. At a meeting on Monday, the Lawrence-Douglas County Planning Commission discussed some of the changes it wanted to see in the second draft of that document. The conversation came about a month and a half after the public comment period for the first draft wrapped up in early February. Now, the planning commission has formed an ad hoc committee that’ll meet outside of regularly scheduled planning commission meetings to conduct further research, discuss and propose changes to the regulations.
Source: LJWorld
Hutch welcomes tens of thousands, brings in more than $1M hosting its 75th NJCAA Championship
The city of Hutchinson is welcoming tens of thousands of people this week for its 75th year of hosting the NJCAA Basketball Championship. The city says this is one of its biggest events of the year, and the benefits reach far beyond just the court. Every year, crowds pack the Hutchinson Sports Arena hoping for exciting basketball, and this year hasn’t disappointed. Hutchinson resident Holly Spellman says it’s a long-time family tradition. “Our boys are all ball boys, so they help warm up the teams, help mop the floors, so we spend our spring break here,” said Spellman. For others, it’s their first time ever in Hutchinson. “We probably conservatively can say that it’s over a million dollars in the six days,” said Cox. “It’s a tremendous impact. And you know, the hotels are full, the restaurants see increased business, and people are filling up their cars with gas. So everybody in the community knows when it’s this time of the year.”
Source: KAKE – News
Riley County considers new dangerous dog ordinance
Riley County leaders are considering imposing new, stricter rules on dangerous dogs. The Riley County Commission is considering a proposal to update the county’s long-standing dangerous dog ordinance. This comes at the a request of a group of concerned citizens. The commission is looking at changing the county’s classification of a dangerous dog. The current policy, which has been in place since 1988, considers a dog as dangerous if it attacks a human or domestic animal without provocation or is a dog kept for fighting. Riley County Deputy Counselor Craig Cox said under the new proposed policy, a dog would considered to be “dangerous” if it attacks a person or animal and they have to get stitches or has broken bones. It would be deemed “potentially dangerous” for causing lesser injuries.
Source: KSNT 27 News
Emporia Metropolitan Area Planning Commission possibly nearing end of zoning regulation refinement
The Emporia-Lyon County Metropolitan Area Planning Commission continued work to “fine-tune” the city of Emporia’s new zoning regulations during its monthly meeting Tuesday night. According to Chairman Kenton Thomas, the board spent much of the meeting reviewing and refining questions related to terminology and wording. The board has been refining the regulations for the past several years ever since the creation of the City and County joint comprehensive plan. Last fall the Emporia City Commission put a halt to the process to allow time for an outside attorney to conduct a secondary review of the plans to ensure they were in good legal standing. The review process recommenced in October of last year.
Source: KVOE Emporia Radio
Overland Park exploring concrete requirement for new paved roads
Overland Park is considering whether to require developers to pave new residential and collector streets with concrete. The proposed change, which was reviewed at the Overland Park Public Work’s meeting Wednesday, would allow the city to gradually reduce its reliance on the controversial road resurfacing method known as chip seal. Concrete street pavement has been used for several years, both on the city’s thoroughfare projects and most recently in the neighborhood street reconstruction project, said Lorraine Basalo, public works interim director. “Our oldest concrete street is Nall about 131st south towards 143rd,” she said. “And to date, we have not had any maintenance that we’ve had to do on that in the last 15 years.”
Source: Prairie Village Post
Leawood wants to make room for more affordable housing
Leawood wants to make way for smaller and more affordable homes. The Leawood City Council on Monday discussed plans to review and alter the city’s code for single-family lot sizes, with the intent that smaller lot sizes would ultimately lower home prices and diversify the city’s housing stock with more townhomes and twin villas. The city’s discussion follows Johnson County’s release of property valuations earlier this year, which showed the average home price in the county crept above half a million dollars.
Source: Shawnee Mission Post
First Presbyterian Church of Lawrence vs. City of Lawrence (Interpretation of an Ordinance)
The Church argues that RSO zoning limits Fountain to building only one duplex on the 9.12-acre lot because of the way a duplex is defined in § 20-1734(5). The relevant language from the definition of duplex is as follows: “A single Structure that contains two (2) primary Dwelling Units on one (1) Lot.” City Code § 20-1734(5). Though all parties contend the meaning of § 20-1734(5) is unambiguous, they do not agree on that “unambiguous” meaning. The Church points out that the section defines a duplex as a “single” structure with two primary dwelling units on one lot; it does not state “two” or “multiple” or “57” structures with two primary dwelling units on one lot. City Code § 20-1734(5). … Our discussion of the Church’s proposed interpretation of the City Code is intended to explain why the definition of “duplex” in § 20-1734(5) is ambiguous and the Church’s interpretation is plausible. We do not suggest that the Church’s interpretation is necessarily correct. The district court’s decision and the underlying arguments by the City and Fountain, along with points raised in the dissent, demonstrate that their proposed interpretation is also plausible. … We reverse the dismissal by the district court and remand the case for further proceedings.
Source: Kansas Court of Appeals
Municipal Bond Trends for March 23, 2023
The interest rate table above illustrates recent changes in a sample of MBIS “investment grade” yields. Every issuer’s credit is different, and other financing sources may be available. To obtain comprehensive Financial Advisory services for your local government, contact your Ranson Financial Municipal Advisor, Larry Kleeman, Beth Warren or Henry Schmidt.
Municipal Bond Trends for March 22, 2023
The interest rate table above illustrates recent changes in a sample of MBIS “investment grade” yields. Every issuer’s credit is different, and other financing sources may be available. To obtain comprehensive Financial Advisory services for your local government, contact your Ranson Financial Municipal Advisor, Larry Kleeman, Beth Warren or Henry Schmidt.
Public welcome organized for newly hired Kansas City, Kansas administrator Monday
The Unified Government of Wyandotte County/Kansas City, Kansas is planning to introduce newly hired County Administrator David Johnston with a public meet-and-greet Monday. The public, government staff and elected officials, including Mayor Tyrone Garner, are expected to be on hand as Johnston takes over the UG’s top hired position. … Johnston will take the helm from Cheryl Harrison-Lee, the interim County Administrator for the past year. Johnston is the long-term hire to replace former County Administrator Doug Bach… Prior to being picked to lead Wyandotte County government, Johnston was the city manager for Covington, Kentucky…
Source: KC Star Local News
Doug Gerber officially takes over as Shawnee City Manager next week
Doug Gerber officially takes over as Shawnee City Manager next week, taking the oath of office during the regularly scheduled Shawnee City Council meeting on Monday. Gerber previously served as a deputy and interim city manager in Topeka. Before that, he also held high-level leadership positions in Goodland and Beloit, Kan., and most recently worked with JEO Consulting Group.
Source: Prairie Village Post
Winfield will help cover sidewalk repairs
Winfield property owners can now be reimbursed by the city for sidewalk repairs after commissioners approved a rebate plan at their Monday meeting in a 3-0 vote. In the past, property owners were responsible for the full cost of repairing sidewalks on their property. According to a questionnaire community members filled out several years ago as part of the city’s comprehensive plan update, 50% of respondents said the city and landowners should split the cost of sidewalk repairs, 47% said the city should pay the full cost, and 3% said the landowners should foot the bill. According to a copy of the plan, owners can be reimbursed at $6 per square foot, or 50% of the estimated costs, for sidewalk removal and replacement on their property.
Source: Cowley CourierTraveler
Barton County plans to rejuvenate the City of Pawnee Rock
For a small town, Pawnee Rock holds a lot of history. Sadly, the years have taken a toll on the once -thriving community. But, with the help of a $50,000 infusion approved by the Barton County Commission Wednesday morning, the Pawnee Rock Revitalization Committee hopes to change that. There are plans to rejuvenate the city’s park and make it a nicer home for its growing younger population. “If you let a city go and you don’t care about it, you might have what Pawnee Rock kind of looks like today,” said Denise Penn, longtime Pawnee Rock resident and member of the Revitalization Committee.
Source: Great Bend Tribune
What will Andover look like in 10 years? Here’s what city’s draft comprehensive plan says
Andover officials are looking to finish up the city’s new 10-year comprehensive plan soon, and residents and stakeholders have the opportunity to weigh in. The “Activate Andover” plan is set to begin in 2024 and go through 2034. The plan outlines future land uses and desired growth the city wants to accomplish over the span of the next decade. It is “one of the most important guiding documents the City utilizes,” according to a summary of the current comprehensive plan from an October 2021 city council workshop. Andover’s current 10-year comprehensive plan, which began in 2014, expires this year. That document guided the building of a corridor along U.S. 54, used for housing and business and led to the building of Redler Institute of Culinary Arts, which added more local educational opportunities, among other development achievements, according to previous Eagle reporting.
Source: Local News | Wichita Eagle
Fed hikes rates by a quarter percentage point, indicates increases are near an end
The Federal Reserve on Wednesday enacted a quarter percentage point interest rate increase, expressing caution about the recent banking crisis and indicating that hikes are nearing an end. Along with its ninth hike since March 2022, the rate-setting Federal Open Market Committee noted that future increases are not assured and will depend largely on incoming data. “The Committee will closely monitor incoming information and assess the implications for monetary policy,” the FOMC’s post-meeting statement said. “The Committee anticipates that some additional policy firming may be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time.”
Source: CNBC – Bonds
Barton County joins prairie chicken law suit
While appreciating the plight of the threatened lesser prairie chicken, the Barton County Commission Wednesday morning approved participating in a Kansas Natural Resource Coalition lawsuit seeking to block a U.S. Fish and Wildlife rule protecting the bird. The LPC’s range covers much of southwest Kansas and nearby states, but it has yet to call Barton County home, commissioners noted.
Source: Great Bend Tribune
New sheriff’s dog attends Harvey County commission meeting
Harvey County Sheriff’s Deputy Skyler Hinton introduced the Board of Harvey County Commissioners on Tuesday to the department’s 2-year-old German shepherd, which he said was trained to detect narcotics and track people. Hinton said Max, who was born in Poland, was purchased with just shy of $25,000 in private donations the department raised. He said most of the commands for Max were in Czech, and any new ones for the dog are in English. He said Max so far had been involved with 50 deployments and 10 arrests. He said Max, who lives at home with his family, already had a decent social media presence.
Source: Harvey County Now
Museum to open Harvey County service station exhibit
The Harvey County Historical Museum and Archives is bringing back memories of service stations in the area—of a time when people pulled up to get gas and heard the familiar “ding, ding” noise alerting the attendant who would rush right out, fill up the tank, and check the oil and tire pressures. They’d even wash a window or two. The museum’s upcoming exhibit, “Fill’er Up: Service Stations in Harvey County,” officially will open on May 7. That’s the day Richard Hege will give a program at 2 p.m. at the museum on Newton service stations. The program is free for members and $5 for non-members. Hege has done extensive research on Harvey County gas stations and used to be on the museum board.
Source: Harvey County Now
Sheriff’s Association provides bullet proof vests to county
Recently, the Brown County Sheriff’s Office received bullet proof vests, which were donated by the United States Deputy Sheriff’s Association (USDSA.) Sheriff John Merchant said throughout the years, the USDSA has provided many dollars in equipment and training not only to the Brown County Sheriff’s Office, but many other law enforcement agencies throughout the United States. “USDSA has also provided many training opportunities such as active shooter and self-defense techniques to name a few,” he said. “USDSA also provides monetary donations to the beneficiary of any law enforcement officer in the US who gives their life in the line of duty.
Source: hiawathaworldonline.com
Jackson County to seek remedy for lost tax revenue
The Jackson County Commissioners have signed a one-year contract with Hartwell Capital Consulting LLC of Lake Ridge, Va. to help the county recoup funds from the federal government when property in the county is successfully reclaimed by the Prairie Band Potawatomi Nation, put into USA trust and taken off county property tax rolls. The one-year contract is for $5,000 a month, or $60,000 annually, and will be paid using American Rescue Plan Act funds received by the county, it was reported. The consulting firm will lobby the federal government on the county’s behalf in an attempt to compensate the county for the loss in property tax revenue when county property is put into trust and the county can no longer collect taxes on it.
Source: Holton Recorder
State offers help, including $2M, to tackle JoCo homelessness
The state of Kansas says it is willing to offer support, including potentially upwards of $2 million in funding, to help Johnson County tackle issues of homelessness, affordable housing and mental health. The Good Faith Network, a local interfaith group of 27 religious congregations, helped secure that commitment from the Kansas Department of Aging and Disability Services and also facilitated a recent meeting between the state aging department commissioner and Johnson County Chair Mike Kelly.
Source: Prairie Village Post
Pott County Appraiser notes soaring property values in monthly report
Pottawatomie County Appraiser Robin Knoblauch provided an update to county officials Monday, regarding the office’s work with taxpayers questioning or wanting to appeal their 2023 value notices. As of Monday, her office had 46 scheduled appeals. She says the major class of increase was residential, which according to the county wide index average was up 14.6%. Most small towns in Pottawatomie County also showed an index value much higher, by up to 6% or more.
Source: 1350 KMANEdit Live
Fort Scott Receives Waste Tire Product Grant from KDHE
The Kansas Department of Health and Environment (KDHE) has announced the recipients of waste tire product grants. “These grants will help handle the costs of proper disposal of many materials scrap tires and assist many important local efforts to promote litter and waste reduction. KDHE applauds the creativity and innovation that our communities have in reusing materials that help support the mission of protecting the health and environment of all Kansans” said Janet Stanek, Secretary, Kansas Department of Health and Environment. The grants are funded by revenue collected through the tire excise tax, a $0.25/vehicle tire fee.
Source: Fort Scott Biz
Volunteers ensure Topeka-area hikers, bikers and walkers have miles of adventure
The weather this time of the year is, well, predictably unpredictable for Kansas. One day, you’re outside enjoying a warm and sunny afternoon, and the next it’s snowing. For the miles of natural trails around Shawnee County, this change of weather can quickly become a problem. Just as potholes are created each year from vehicles traveling on asphalt during the winter’s freeze-thaw cycle, the same is true for the unpaved trails when wet used by walkers, runners and riders. “It’s going to take a lot of work,” Rick Bean, president of Top City Trails Alliance (TCTA), told The Topeka Capital-Journal last Sunday.
Source: CJonline
After three decades of service to Salina, Deputy Police Chief Morton ready to retire
After 31 years and moving up the ranks of the Salina Police Department, Deputy Chief Sean Morton is ready to hang up his police belt. Morton, whose final day on the job is Friday, has spent the past few weeks not only cleaning out his office, but also continuing to help lead the department, and assist new Police Chief C.J. Wise’s transition into the department. The deputy chief, who grew up in Marysville, said his reasons for first getting into law enforcement may sound a bit cliché. “I was so interested in getting into this profession,” Morton said. “It was serious that I wanted to help people.”
Source: Salina Journal
Derby data security incident could impact some residents
Following a full investigation of a computer network disruption that impacted the city of Derby starting Jan. 14, the city recently confirmed that a limited amount of information may have been accessed in connection with the incident. In response to the incident, the city has implemented additional security measures within its network and facilities. Following the Jan. 14 incident, the city immediately took action and worked around the clock to secure its network environment. The city also engaged a third-party forensic firm to assist with the investigation.
Source: Derby Informer | News
Firefighter, business owner made his mark on Derby
Dedicated. Friendly. Helpful. Committed. A loyal friend and passionate professional. Those are just some of the many words and thoughts that came to mind as the community remembers longtime Derby firefighter and EMT instructor Charles W. Little, who passed away March 7. “I never ever had a problem with him the whole time I knew him,” said former Fire Chief Pat Swaney. “I doubt that anyone else had a problem, either.” Little’s enthusiasm for his work and the city was unquestionable, Swaney said.
Source: Derby Informer | News
Old Ellinwood photos topic of historic program
The Barton County Historical Society will host Ellinwood native Robert Yarmer who will present “Early Ellinwood in Pictures” at 7 p.m., Monday, March 27, at the Barton County Historical Society, 85 S. U.S. 281, Great Bend. Admission is free for members of the society and $5 for others wishing to attend the program. Doors open at 6:30 p.m. and the program will begin at 7 p.m., light refreshments are provided. Yarmer has selected 140 photographs of Ellinwood history to discuss …
Source: Great Bend Tribune
How will Silicon Valley Bank collapse impact bank ownership of munis?
Municipal bonds remain a viable, high-quality source of liquidity for banks, experts say, although they are divided about whether the collapse of two regional banks will curtail or eliminate the sector’s ownership of municipal bonds. Following the collapse of California-based Silicon Valley Bank on March 10 and New York-based Signature Bank on March 12, experts differ on how this will impact their holding of municipal bonds. Some say it will continue unabated, others say it could peter off, yet others believe banks may alter their duration to avoid the pitfalls of SVB and Signature. “I do not believe banks will broadly reduce their ownership of municipal debt in light of the recent collapses of SVB and Signature Bank,” Chris Brigati, managing director of municipal investments at Valley Bank, said. Bank ownership of municipal bonds amounts to approximately 15% of the $4 trillion market, falling slightly during the COVID 19 pandemic, according to experts. … So far, there is little evidence that ownership of munis by banks — which hold about $540 billion of municipals, $140 billion of that is held by regional banks —will dwindle, according to Eve Lando, portfolio manager and managing director at Thornburg Investment Management. About half of that exposure is in direct loans, so it shouldn’t be part of a sell-off, Lando noted. “The total muni market is $4 trillion, so in isolation, the large bank numbers are a small fraction of the entire market and unlikely to flood the market,” she said in a March 21 report.
Source: The Bond Buyer
New Funding Available to Help Communities with Shovel-Ready Sites
Lieutenant Governor and Secretary of Commerce David Toland today announced new grant funding that will help communities gain valuable Certified Sites designation for shovel-ready industrial sites in Kansas. Kansas Certified Sites designation is issued when communities successfully demonstrate their property is primed for development and ready for investment, which is a huge advantage in recruiting and expanding businesses. The program is designed to reduce the risks associated with development. A Kansas Certified Site is attractive to investors and site selectors … as part of the new Certified Sites Grant program, the Kansas Department of Commerce will provide matching dollars up to $10,000 for eligible entities to use toward completion of a Kansas Certified Sites program application. Funding is available for non-metro counties with a population less than 50,000.
Source: Kansas Department of Commerce