Kansas Municipal News
Municipal Bond Trends for March 7, 2023
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, Beth Warren and Henry Schmidt.
Fed Chair Powell says interest rates are ‘likely to be higher’ than previously anticipated
Federal Reserve Chairman Jerome Powell on Tuesday cautioned that interest rates are likely to head higher than central bank policymakers had expected. Citing earlier data this year showing that inflation has reversed the deceleration it showed in late 2022, the central bank leader warned of tighter monetary policy ahead. “The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated,” Powell said in remarks prepared for two appearances this week on Capitol Hill. “If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes.”
Source: CNBC – Bonds
Powell Says Fed Is Prepared to Speed Up Interest-Rate Rises
Chair Jerome Powell said the Federal Reserve would consider raising interest rates by a larger half percentage point this month and was likely to lift rates higher than previously expected this year to cool an economy that has shown surprising strength. Mr. Powell’s comments to lawmakers Tuesday laid the groundwork for a notable shift in tactics to reduce price pressures. He said hotter inflation and hiring could lead central bank officials to alter their recently adopted strategy of raising rates in smaller quarter-point increments.
Source: WSJ.com: US Business
Upgrades to Wichita’s sewer system expected to eliminate 98% of the smell, city says
Federal loans will fund 49% of Wichita’s major sewer system upgrades, which are expected to get under way this year and will result in cleaner wastewater emissions into the Arkansas River by 2027. The Wichita City Council on Tuesday approved a funding agreement with the Environmental Protection Agency for $191,481,121 in WIFIA loans, the same program used to fund $280.9 million for Wichita’s new drinking water plant. “I just want us to pause for a second and actually celebrate this. This is a legacy project for the community, and specifically for this council,” City Manager Robert Layton said during the meeting.
Source: Local News | Wichita Eagle
Winfield proposes sidewalk repair reimbursement plan
The City of Winfield is proposing a plan to reimburse landowners for sidewalk repairs, a task that property owners currently bear the entire cost for. Based on results of a 2010 Transportation Assessment Study, repairs and upgrades to the city’s sidewalk infrastructure would cost a total of $7.5 million in today’s dollars, according to a memo from Winfield Community Development Director Patrick Steward. 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.
Source: Cowley CourierTraveler
Brad Matkin is new Fort Scott city manager
Brad Matkin was officially chosen as the new Fort Scott City Manager Tuesday evening. The vote to approve his contract, which was not available prior to press time, passed 4-1 …
Source: Fort Scott Tribune
One of 3 sites in Sedgwick County could have electronic gambling machines
Sedgwick County will soon have a new gaming facility with historical horse racing machines at one of three potential sites: Towne West Square in west Wichita, Wichita Greyhound Park in Park City, or at a planned $160-million entertainment complex in Park City. Sports betting legislation signed into law in Kansas last year cleared the way for the Kansas Racing and Gaming Commission to license an operator of up to 1,000 historical horse-racing machines in Sedgwick County.
Source: Wichita Business Journal
Wichita delays action on tobacco ordinance
Wichita City Council members have delayed action for a week to consider language in an ordinance that will establish new penalties for people who sell tobacco products to anyone under the age of 21. The ordinance eliminates the criminal penalty for people under 21 to possess tobacco, but law enforcement officers can still confiscate tobacco items. The ordinance will create a minimum fine of $200 and a maximum of $1,000 with six months in jail for retail employees who sell tobacco to minors. There’s also a $250 penalty for a business that sells tobacco to underage people, and that fine can be increased with multiple offenses, leading up to a license suspension.
Source: 101.3 KFDI
Harvey County will consider changing rules at county parks
The Board of Harvey County Commissioners got their first look at revised regulations for the county’s three parks Thursday morning. Commissioners didn’t take action, but the revised regulations will be brought back before them next week. The regulations will more clearly define when park staff and law enforcement can have someone removed from park grounds for behavior that is illegal, dangerous or unreasonably disruptive. County Administrator Anthony Swartzendruber said the park regulations were last updated in 2019. He said the new regulations would go into effect April 1, which is when the annual park passes go on sale, if commissioners approved them next week.
Source: Harvey County Now
Kelly admin wants extra funding for STAR Bonds. Critics say that’s proof it doesn’t work
For years, a controversial sales tax incentive in Kansas has been billed as a way to build transformational tourist destinations that draw visitors from across the region. Kansas STAR Bonds have helped to build well-known attractions like the Kansas Speedway and Children’s Mercy Park in Kansas City, Kansas. But state leaders have often over-promised and under-delivered on STAR Bonds projects, allowing the bonds to fund more mundane uses like adding new turf to soccer fields or creating shopping centers. The program is now at risk because of its reliance on local taxpayers to pay off project debts.
Source: Kansas City Star
Consultants recommend City of Lawrence allocate $1.4M in grant funds to affordable housing
Statistics and survey responses made clear that affordable housing is Lawrence’s most pressing need in order to alleviate and prevent homelessness, consultants told the city commission on Tuesday. The city has been allocated about $1.64 million in federal HOME-ARP funds, but it must provide a plan for how it’s going to spend those dollars by March 31. Consultants received survey responses from 918 Lawrence and Douglas County residents. Of those responses, 38.5% identified construction of new affordable rental housing units as their highest priority for the HOME-ARP funds.
Source: The Lawrence Times
Overland Park to hold special sales tax election for street upgrades
Overland Park is now set to hold a special mail-in election this June asking voters to approve a dedicated sales tax that would go towards improving aspects of the city’s aging infrastructure. Notably, city officials say funds raised by the tax would also allow the city to reduce its reliance on chip seal, the controversial road resurfacing method. The Overland Park City Council Monday night unanimously approved putting the proposed 3/8-cent special sales tax up for a vote. If approved, the new tax would be an increase from the city’s current 1/8-cent sales tax, which is set to expire in March 2024.
Source: Prairie Village Post
Municipal Bond Trends for March 6, 2023
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, Beth Warren and Henry Schmidt.
Wichita’s historic former Firehouse No. 7 in Riverside to be auctioned
An unusual building is up for auction in Riverside this month. The 2,112-square-foot property at 901 N. Porter Ave., which is at the northwest corner of Franklin and Porter, was built as Wichita’s Firehouse No. 7 in 1922. “That’s really got a lot of history to it,” said auctioneer Rick Brock of McCurdy Real Estate & Auction. According to the Kansas Firefighters Museum archives, the $25,000 station initially had four firefighters assigned there.
Source: Carrie Rengers: Business Columns & Blogs |
Century II switching to digital payment system for parking
Century II Performing Arts and Convention Center is partnering with ParkMobile to offer daily and event parking payments through the mobile app. The center says that visitors can now pay for on-demand parking digitally at the Century II parking lots east of the venue and south of the former library. “Being located in Downtown Wichita, our venue is at the heart of a high-traffic area,” said Chris Whitney, General Manager of Century II. “By integrating ParkMobile’s digital parking payment system, our guests can now park at our events in a more seamless and efficient manner. Visitors will use ParkMobile for daily and event parking, creating a contactless parking experience.”
Source: KAKE – News
Gary Janzen, new Wichita Director of Public Works and Utilities
“From water infrastructure, to road maintenance, to snow and ice removal, Public Works touches every facet of our community. Mr. Janzen has helped our Public Works Department make enormous progress on the City’s infrastructure during his tenure. We look forward to Gary’s continuing service to the community,” said City Manager Robert Layton.
Source: KAKE – News
New Sedgwick County Election Commissioner shares plans
Changes are coming to the Sedgwick County Election Office. The Kansas Secretary of State, Scott Schwab, has appointed Laura Rainwater as the county’s new election commissioner. Rainwater is the third Sedgwick County Election Commissioner since 2021. Angela Caudillo resigned in December 2022, and Tabitha Lehman was not re-appointed in 2021. Rainwater is hoping to use her skills from working elections to help her in this new position. “14 to 15 hours days every time there is an election, but it gives me a sense of pride to serve in that way,” said Rainwater.
Source: KSN-TV
Dodge City airport receives $7.3 million for terminal improvements
Dodge City Regional Airport has received $7.3 million from Federal Aviation Administration’s Airport Terminal Fund. The funding will be used for the first phase of the airport’s expansion plan. The funds will be used to update the previous design, remove and expand the south portion, and remodel the rest of the terminal building. The airfield vault in the basement of the terminal will also be moved to an enclosure outside. “We are genuinely excited and honored to be awarded the 7.3 Million Dollars from the FAA to help renovate the Dodge City Regional Airport Terminal,” says City Manager Nick Hernandez.
Source: KSN-TV
City expected to pay $200,000 in settlement for 2019 Wichita police shooting
The Wichita City Council is being asked to approve a $200,000 settlement with a man shot by police on July 14, 2019. On the agenda for the council’s Tuesday’s meeting is a recommendation from the law department to settle because of the “uncertainty and risk of an adverse judgment at trial,” according to the council’s agenda. The agreed-upon settlement covers the city and officer Drake Kreifels, who shot Christian Joel Washington after a domestic disturbance. Kreifels shot three times, hitting then-26-year-old Washington once in the abdomen.
Source: Local News | Wichita Eagle
Sedgwick County adds new services for those in jail with mental illness
Sedgwick County has taken several steps to make mental health services more accessible for inmates in the county jail. Last March, the Sedgwick County Commission joined a national effort — the Stepping Up initiative — to reduce the number of people with mental illness in jail. Sheriff Jeff Easter has estimated that about one-third of people in the approximately-1,500 person jail have mental illness. Since then, the county jail has put a number of steps in motion. That includes no longer charging people in jail a $5 co-pay for mental health medication.
Source: Local News | Wichita Eagle