Kansas Municipal News
Extreme heat prompts City of Topeka to take action with cooling shelters
City of Topeka officials are partnering with local businesses and government offices to open cooling shelters to help Capital City residents fight high temperatures. The City of Topeka announced on its social media that the arrival of extreme heat in northeast Kansas has prompted it to partner up with local entities to provide citizens with relief. A heat advisory is in effect for much of northeast Kansas from 1 p.m. Tuesday, July 25 to 9 p.m. Friday, July 28. This announcement comes shortly after the City of Emporia also announced that it would be opening cooling shelters for locals.
Source: KSNT 27 News
Fed Set to Raise Rates to 22-Year High
The Federal Reserve is set to raise interest rates by a quarter-percentage point on Wednesday to a 22-year high, with most investors focused on what it would take for the central bank to lift rates again later this year. Economic growth has likely been too firm in recent months for Fed Chair Jerome Powell to signal that Wednesday’s increase in the Fed’s benchmark short-term rate will be the last of the current tightening cycle, as investors anticipate. The recent slowdown in inflation also makes it hard for central bank officials to firm up plans for any additional rate increase. The central bank will announce its decision at 2 p.m. Eastern time. Powell will answer questions from reporters at 2:30 p.m. Officials won’t release quarterly interest-rate and economic projections after their two-day meeting this week.
Source: WSJ.com: US Business
15 years of low interest rates reshaped the U.S. economy. Here’s what’s changing as rates stay higher for longer
The United States is entering a new economic era as the Federal Reserve hikes its benchmark interest rate. In July 2023, the federal funds effective rate stood above 5% for the first time in four decades. As interest rates climb, economists say financial conditions are headed back to being more normal. “Having interest rates at zero for such a long period of time is very unusual,” said Roger Ferguson, a former vice chair at the Federal Reserve. “Frankly, no one ever thought we’d get to that place.” Back-to-back financial crises gave past Fed policymakers the conviction to take interest rates as low as they can go, and keep them there for extended periods of time. Along the way, they disrupted the basic math of personal finance and business in America.
Source: CNBC – Bonds
Municipal Bond Trends for July 25, 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, or Henry Schmidt.
Municipal Bond Trends for July 24, 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, or Henry Schmidt.
A 10-year rally in U.S. home prices could be coming to an end, says Yale’s Robert Shiller
A decade-long rally in U.S. home prices could finally come to an end once the Federal Reserve stops its rate-hiking cycle, said Robert Shiller, professor of economics at Yale University. Home prices have made steady gains since 2012, according to the S&P Case-Shiller U.S. National Home Price Index. “The fear of interest rate increases has influenced people’s thinking — it’s not just the homeowners, it’s new buyers who wanted to get in before the interest rates went up even more,” Shiller said. “They wanted to lock in. So that’s been a positive influence on the market. But it’s coming to an end,” he added.
Source: CNBC – Bonds
Hiawatha updated on maple leaf statue plans
Kate Miller of the Hiawatha Chamber and Visitors Bureau was present at Monday night’s meeting of the Hiawatha City Commission to address previous questions about the Chamber’s proposed maple leaf statues that will be placed around the city. Miller presented the idea earlier this year, and the Commission was receptive, but asked that she return with more solid guidelines for the statues, which will be purchased and designed by individuals and businesses. Statues would be placed no closer than 25 feet from corners, and no further forward than the nearest planter. Designs will have to be approved by the Chamber and then either the City Commission or the City Administrator. Statue owners will also be required to feature their leaves in the Halloween parade. The Commission was in consensus that the requirements were acceptable.
Source: hiawathaworldonline.com
Nonprofit movie theater in Greensburg concerned about possible closure
The closure of the Regal Warren Theatre in Old Town Wichita has some concerned that the much-loved nonprofit Twilight Theatre in Greensburg could shut down. The 100-year-old movie theater is used as an event space, auditorium and gathering place for the 700 people living in Greensburg. The nonprofit faced financial struggles even before the pandemic, but lockdowns made matters worse. “How are we gonna keep the Twilight Theatre open here when we have 800 people?” said George Ryan, executive director.
Source: KSN-TV
Mission OKs new tax abatement policy
A new tax abatement policy is on the city of Mission’s books. The Mission City Council on Wednesday voted 6-2 to approve an updated tax abatement policy. The updated policy comes after two separate developers — those of 58 Nall and Milhaus — requested tax abatements on apartment projects in Mission. The policy caps tax abatement at 75% in special circumstances: Mission’s previous tax abatement policy, which was never used, allowed developers up to 100% deferred property taxes for a 10-year period. The new policy starts developers off at 45% tax deferment if they meet certain criteria, such as a minimum capital investment of $3 million into a project.
Source: Prairie Village Post
Prairie Village wants to build new city hall, caps project at $30M
A completely new city hall may be in Prairie Village’s future. The city council last week unanimously directed city staff to start the process to design and eventually build a completely new city hall facility, capping the cost for the still-nascent project at $30 million. The move means multiple conceptual designs for a new city hall will come before the city council in the not-too-distant future.
Source: Prairie Village Post
Pay $50 in Lawrence traffic tickets with $15 worth of school supplies
From now through Aug. 20, Lawrence Municipal Court is forgiving up to $50 of traffic infraction or parking fines in exchange for $15 worth of school supplies. “We think that this program will have the mutual benefit of helping families in our community … and helping citizens pay for the fines they owe to our court,” said Vicki Stanwix, court administrator. The debt forgiveness program is designed to help motorists with outstanding traffic fines while allowing them to help local school children and their families. It’s the first time the municipal court has tried the campaign, but if it is a success, it could become an annual event, Stanwix said.
Source: The Lawrence Times
Wichita recommends $177K settlement in 2019 sewer backup
The City of Wichita recommended a $177,500 settlement for a 2019 sewer backup that involved five homes on E. Sunnybrook Court. The payments to the five claimants would range from $31,500 to $46,500 for the backups that occurred on May 8th and May 13th that year. The City is recommending a vote to settle at a City Council meeting on Tuesday, July 25th due to the risk of an adverse judgment at trial. The payment is proposed to be paid from the City’s self insurance fund.
Source: 101.3 KFDI
New Panasonic plant could lead to higher electric rates in Kansas
Evergy could seek additional rate increases linked to the massive Panasonic battery-plant development in De Soto, Kansas. Officials with the company said the proposed plant will have a utility footprint similar to that of a small city, and will also require the construction of two new substations, upgrades to existing facilities and the installation of 31 miles of transmission lines. State officials reportedly are considering Evergy’s request. Authorities say, if approved, the rate increases could raise area utility costs from two to as much as 18-percent. The Kansas Corporation Commission is already considering a rate increase request that could lead to an increase of $14.24 in the central area, including Wichita.
Source: 101.3 KFDI
KHP has split decisions in two court cases
A federal judge has ruled against the Kansas Highway Patrol in a case challenging its policies of detaining motorists without reasonable suspicion. The judge ordered the KHP to stop using the infamous “Kansas Two-Step” technique, where a trooper would end a traffic stop by taking two steps toward his patrol car, then he would turn back and begin a new conversation with the driver to ask more questions. The technique starts a second effort to get information and get entry to a vehicle to search for contraband.
Source: 101.3 KFDI
Lyon County first responders welcome furry friend to Law Enforcement Center
Justice reigns at the Lyon County Law Enforcement Center. Justice, the new Lyon County Sheriff’s Office and Detention Center companion and emotional support dog, that is. At around seven months old, the Labradoodle and Golden Retriever mix is quickly becoming a friend to all at the center. Her floppy ears and puppy personality are helping to spread cheer and reduce stress — for sheriff staff and inmates alike. “The jail actually purchased the puppy through the Inmate Welfare Fund as a support dog for staff and the inmates,” Captain Jay Whitney said.
Source: Emporia Gazette
Fort Scott Commissioners want input on Certified Local Government program
The Fort Scott City Commission plans to hold a work session in the future to discuss the idea of becoming a Certified Local Government, which, according to Mayor Matthew Wells, would provide an opportunity for building owners to apply for more grants for their historic properties.
Source: Fort Scott Tribune
Professional Pickleball Association’s World Championship Series plans a stop in Overland Park
The nation’s “most pickleball-obsessed city” has clinched a big win: hosting the Carvana Professional Pickleball Association (PPA) Tour, which will bring more than 1,000 professional and amateur players to Overland Park. The Vulcan Kansas City Open will be Aug. 24-27 at Elite Tennis and Wellness and is a “golden ticket” qualifier event, which means those winning their division will earn a spot in the bracket at the 2023 USA Pickleball National Championships in November in Dallas.
Source: Kansas City Business Journal
Many Park City residents welcome proposed sales tax
The city of Park City is proposing a new 1 percent sales tax to its community and according to Mayor John Lehnherr, the community has responded positively. The sales tax will help with some of the city’s needs such as adding additional law enforcement and helping fix the roads. Lehnherr said the city conducted a recent study and found that 88 percent of Park City’s revenue comes from outsiders visiting. He said because they are near the interstate with four exits, people stop in to dine, shop, and get fuel. Lehnherr added leveraging this 88 percent can also be a benefit to the community. “This is a way where we can bring revenue into the city that’s from outside folks stopping here and using our services but we can lower the mill levy and ease the tax burden on our residents,” he said.
Source: KAKE – News
Girard Fire Department hosts annual community event
The Girard Kansas Fire Department today hosted its annual event with the intention of making it a recurring tradition. Organizers say the event aims to provide an opportunity for the public to view the department’s equipment and raise awareness about the needs of different departments. It also serves as a platform for the public to ask any questions they may have. Participants had the opportunity to enjoy bounce house and offer tours of the fire trucks and police cruisers. “The goal is to keep the public informed on what we do here and our equipment and where we are,” said Chris Wilson-Chief of Police in Girard. “Since where public safety this equipment belongs to the public. So we want them to be able to come and see the equipment we got and that were keeping it up for them.”
Source: KOAM News
The Kansas tax subsidy law that gave millions to Panasonic and Integra projects is ending
In February of last year, Kansas Governor Laura Kelly signed APEX (Attracting Powerful Economic Expansion) into law. It allows for tax incentives to be given to for-profit companies when they select Kansas as the site of their billion-dollar megaprojects. Through APEX, Kansas was able to secure a $4 billion Panasonic electric vehicle battery plant in De Soto and a $1.8 billion Integra semiconductor plant in Wichita. But now, it’s unclear if the Kansas legislature will extend the law past its expiration date, putting the prospects of future development deals in limbo. Dylan Lysen of the Kansas News Service says some influential conservative lawmakers are worried the state is giving away too much money for these projects.
Source: KCUR