Kansas Municipal News
Fed rate hikes could go even further than expected as Powell commits to stomp out inflation
Going into this week’s meeting, markets were hoping for a sign that the Fed, after a fourth straight 0.75-percentage-point rate increase, might soon pivot to a slower tightening pace, and perhaps an outright pause. The Fed statement released at 2 p.m. Wednesday suggested it would: “In determining the pace of future increases…the [Fed] will take into account the cumulative tightening of monetary policy [and] the lags with which monetary policy affects economic activity and inflation.” The resulting jump in stock prices and the fall in bond yields was short lived. Soon after Mr. Powell started his press conference at 2:30 p.m., he explained that even if rate increases slow, “we may ultimately move to higher levels than we thought at the September meeting.”
Source: WSJ
Fed approves 0.75-point hike to take rates to highest since 2008 and hints at change in policy ahead
The Federal Reserve on Wednesday approved a fourth consecutive three-quarter point interest rate increase and signaled a potential change in how it will approach monetary policy to bring down inflation. In a well-telegraphed move that markets had been expecting for weeks, the central bank raised its short-term borrowing rate by 0.75 percentage point to a target range of 3.75%-4%, the highest level since January 2008. The move continued the most aggressive pace of monetary policy tightening since the early 1980s, the last time inflation ran this high.
Source: CNBC – Bonds
Washington County to receive almost $1.6 million from wind farm over next decade
Towers will be at least 1,500 feet from non-participating occupied primary residential dwellings and 1.2 times the tower height away from non-participating property lines from the center of the base of the tower. Towers will be setback at least 1.1 times the tower height plus 30 feet from any county, township, state or federal right-of way currently in existence, excluding private roads. No turbines will be installed within a mile of a town. Four agreements with High Banks Wind, LLC, were unanimously signed by the Washington County Commission on Monday for the High Banks Wind Project, including a development agreement, road use agreement, contribution agreement and decommissioning agreement.
Source: Backroads News
Panasonic breaks ground on massive De Soto battery plant predicted to transform KC region
Panasonic officially started construction of a new electric vehicle battery plant in De Soto, Kansas, on Wednesday. It’s the largest economic development project in the history of Kansas. The Japanese company said it will begin mass producing batteries in De Soto for the booming electric vehicle market by March 2025. Panasonic said building cylindrical “2170” lithium-ion batteries in De Soto will spur innovation and provide critical production capacity to fuel economic growth and other opportunities for the entire region.
Source: fox4kc.com | FOX 4 – WDAF
City of Emporia set to rollout new mass notification system Monday
The city of Emporia is set to expand communication with local residents with the rollout of a new mass notification system. According to City Communications Manager Christine Johnson during the Emporia City Commission’s regular action/study meeting Wednesday, beginning next week the city will be utilizing the CodeRed mass notification system for non-life threatening emergency situations and general notifications. This includes water line breaks, street closures and the like. Johnson says increased communication with local residents has been a major goal for the city in recent months and this is a great tool to help reach that goal.
Source: KVOE Emporia Radio
Osawatomie celebrates trail grant
Representatives of federal, state and local government agencies joined members of the community on Saturday, Oct. 29, to celebrate a $24.8 million federal grant recently awarded to improve and expand the Flint Hills Trail State Park, which begins at the Mile Zero trailhead in Osawatomie. The Rebuilding American Infrastructure with Sustainability and Equity (RAISE) grant will help make infrastructure improvements on 40.5 miles of the trail and open 27 new miles of the trail, from Council Grove to Herington, according to a news release.
Source: republic-online.com
Grant will increase high-speed internet in 2 counties
Blue Valley Technologies has received another major grant to boost high-speed internet in Marshall and Washington counties. The U.S. Department of Agriculture’s rural development office will provide $3,066,752 for faster web access by deploying fiber inside the city limits of Frankfort, Waterville, Hanover and Washington. About 3,000 people along with 255 business and 14 educational facilities will benefit from this area’s project, according to BVT and USDA news releases. “High-speed internet is essential for success in education, health care and business in the 21st century,” said Christy Davis, Kansas director for USDA rural development.
Source: The Marysville Advocate
Municipal Bond Trends for November 1, 2022
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.
Pottawatomie County approve raises for employees
Pottawatomie County commissioners approved a second cost of living adjustment for its employees Monday. The move will give county employees an overall 10 percent boost in their COLAs after the commission OK’d a 3.5 percent increase in July. The county deferred any additional increases to see if inflation concerns would diminish. County Administrator Chad Kinsley noted department heads began tightening their belts to ensure they could take on the adjustment for the remainder of the year. The commission already had approved a 6.5 percent COLA for the 2023 budget, amounting to roughly $1 million.
Source: 1350 KMAN
Sedgwick celebrates Halloween with downtown activities
Sedgwick held its third-annual Trunk or Treat on Halloween evening, closing down Commercial Street so trick-or-treaters could safely walk the streets and collect candy from residents and businesses alike. Activities included decorated trunks, candy distribution, a haunted tunnel, and free hot dogs.
Source: Harvey County Now
Wichita plans to replace two tennis courts with six pickleball courts at east-side park
Picklers just scored a key victory in the ongoing turf war between Wichita’s pickleball and tennis communities over the use of city parks facilities. The Wichita City Council on Tuesday approved the conversion of two tennis courts at Edgemoor Park into six more pickleball courts. Parks and Recreation Director Troy Houtman said the problem with the six existing pickleball courts at Edgemoor is there are no court lights, limiting their use in the evenings.
Source: Local News | Wichita Eagle
Wichita and Coffey County are competing for Kansas megaproject incentives, sources say
Wichita appears to be competing with Coffey County for a massive state subsidy package aimed at helping Kansas land billion-dollar “megaprojects” — the same incentives program used in July to lure Panasonic to the Kansas City area. It’s a competition because APEX incentives can go to only one more project before the program expires at the end of 2023. To qualify, companies must agree to spend $1 billion or more to expand operations or relocate their headquarters anywhere in Kansas.
Source: Wichita Eagle
Governor Laura Kelly Announces $1M For Central Kansas Affordable Housing Development
Governor Laura Kelly today announced $1 million will be going to the City of Russell to increase affordable and moderate-income housing options in central Kansas. Russell is using the funds, allocated through the bipartisan House Bill 2510 Governor Kelly signed this past May, to redevelop the former Holland Hotel into loft-style apartments. “Across Kansas, we are expanding housing in innovative ways so every Kansas family can afford to put a roof over their head – and so we can attract and retain the workers needed to continue our record-breaking economic success,” Governor Laura Kelly said. “I applaud the City of Russell for finding a solution that preserves their history and benefits future generations.”
Source: Kansas Department of Commerce
Worthwhile book digs into Cowley’s 100 year history
Who knew that Cowley College started out in 1922 and was referred by first-time students as “BU” or Basement University, due to the first classes being held in the lower level of the Arkansas City Senior High Building? Or that Renn Memorial Library is named after Oscar Renn, who was the head of the new Social Sciences Department in the fall of 1923? Between the Roaring Twenties is a new book authored and compiled by the Cowley College Centennial Book Committee, and it is a truly fascinating trip through a century of life in Ark City.
Source: Cowley CourierTraveler
Firefighters continue to watch burned area at Park City recycling facility
Sedgwick County firefighters are still on the scene of a fire that burned a ten-acre area at a Park City recycling facility. The fire broke out Sunday evening and burned wood pallets and mulch at Evergreen Pallet Recycling near 53rd Street North and Broadway. It continued to burn through the day Monday before it was contained, and crews have remained on the scene to keep water on the burn piles and watch for any hot spots. Sedgwick County Fire District 1 Chief Doug Williams said the cause of the fire has not been determined. He said investigators are looking at surveillance video and call logs to see what may have been disposed of before the fire.
Source: 101.3 KFDI
Amendment on electing, removing sheriffs stirs debate
A constitutional amendment on the Nov. 8 ballot would take away local attorneys’ abilities to investigate sheriffs. Some citizens and lawyers are worried that Kansas voters don’t know the full implications of rewriting the constitution to remove the ability of local district attorneys to start legal proceedings against local sheriffs if they believe there’s been misconduct. The amendment would require counties that elected sheriffs in January 2022 continue to elect sheriffs — meaning a sheriff’s position could never become appointed. The exception would be Riley County, which abolished the sheriff’s office after consolidating city and county agencies in 1974.
Source: Cowley CourierTraveler
Panasonic’s location for EV battery plant in De Soto gets a new name
As Panasonic Energy Co. Ltd.’s groundbreaking nears for its new $4 billion battery manufacturing operation at the former Sunflower Army Ammunition Plant, the owners of the De Soto property have renamed the location. The 9,035-acre property now is called Astra Enterprise Park, according to Kessinger Hunter & Co., a managing member for Sunflower, alongside RESIGHT Holdings LLC of Littleton, Colorado, and Midland Properties Inc. of Mission Woods.
Source: Kansas City Business Journal
Here’s why the Fed’s next big rate hike may be its last
The Federal Reserve is on track to issue another massive rate hike Wednesday before slowing down the pace of its battle to fight inflation. Analysts and economists are confident the Fed will hike its baseline interest rate range by another 0.75 percentage points at the end of a Wednesday meeting. The Fed’s move will mark the fourth consecutive rate hike of a size it once considered “unusually large.” It may also mark a turning point as the Fed faces growing pressure to take its foot off the brakes of the economy.
Source: KSN-TV
Zaleski talks Parsons transient guest tax
The city’s tourism tax is rebounding after a downturn because of the COVID-19 pandemic. “We’re getting there, but not quite,” said Parsons Economic Development Director Jim Zaleski. Officials budget the city’s transient guest tax at approximately $145,000 annually for funding income. “We expected that to increase in 2020 with the new hotel,” Zaleski said. “COVID hit.” “To be honest, we’re a lot stronger than what we thought we might be, so that’s good news,” Zaleski added. In February 2020, the Holiday Inn Express, 1500 Cattle Drive, opened, but travel across the state and country was shut down in March due to the pandemic. Since then, travel has increased and begun to gradually return to normal.
Source: Parsons Sun
New redistricting plan approved by Topeka City Council
A lot took place at Tuesday night’s Topeka City Council meeting, but a big part of the agenda came from the vote to change district lines. Only seven of the eight council members were present at Tuesday’s meeting, but with seven yes votes, district lines will be changed to better even out the population of all nine districts in the capitol city. The previous census showed a decline in population coming from districts one and two while districts eight and nine saw an increase. Before going into Tuesday’s meeting, members considered five different map proposals. The council ultimately approved Plan A: this will unite Oakland with district 2, thus making all the districts more evenly populated and even help with future voting.
Source: KSNT 27 News