Kansas Municipal News
Municipal Bond Trends for April 6, 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.
Fed’s Patrick Harker is ‘acutely concerned’ about inflation, sees ‘deliberate’ rate hikes
Philadelphia Federal Reserve President Patrick Harker joined the chorus of central bankers warning about inflation and the interest rate hikes needed to control rising prices. In remarks Wednesday, the policymaker said he is worried about an inflation rate running at its highest level in 40 years. He anticipates the Fed will respond by raising rates and reducing the level of bonds it is holding on its balance sheet. “Inflation is running far too high, and I am acutely concerned about this,” Harker told the Delaware State Chamber of Commerce. “The bottom line is that generous fiscal policies, supply chain disruptions, and accommodative monetary policy have pushed inflation far higher than I — and my colleagues on the [Federal Open Market Committee] — are comfortable with,” he said. “I’m also worried that inflation expectations could become unmoored.”
Source: CNBC – Bonds
Johnson County will reconsider solar farm rules that are among the strictest in the country
After a four-hour public hearing of speakers solidly in support of solar energy development, the Johnson County Commission voted to send proposed solar farm regulations back to the county planning commission with suggestions that would make them less restrictive. The 6-1 decision, with Commissioner Charlotte O’Hara the lone vote against, takes aim at three proposed rules that govern: how big a solar farm could be, how long it could be in operation and how close it could be to a city limit. Those three items were made more restrictive during a politically charged planning commission meeting late last year and have since been criticized as being so unfriendly that they would discourage all solar development in the county.
Source: KCUR News
Emergency rental assistance still available; guidelines changed to help more Kansans at risk for eviction
The Kansas Emergency Rental Assistance program is accepting applications for rent, utility and internet assistance from tenants and landlords who have experienced financial hardship during the COVID-19 pandemic. Known as KERA, recent updates have allowed the state to serve more Kansans, according to a news release from the Kansas Housing Resources Corporation. Here are the changes: Eligible households may receive up to 18 months of assistance — an increase from the previous 15-month maximum; Recipients may receive a lump sum of $900 in past-due or future internet assistance — an increase from the previous $750 limit; and Households that have endured financial hardship at any point during the pandemic may now qualify for assistance.
Source: The Lawrence Times
Manhattan overturns Historic Resource Board’s denial of Museum of Art and Light
Manhattan city commissioners on Tuesday approved moving forward with the Museum of Art and Light project despite questions emerging about its impact on historic aspects of downtown. The commission unanimously overturned the Historic Resources Board’s denial of the planned museum. In addition to disagreeing with the board’s view that the nonprofit museum would have a harmful effect on the Downtown Historic District, commissioners also cited that the $44 million museum would generate too much economic benefit to stop it now. During its March 28 meeting, the board voted to deny the project 3-2, finding that the project, set to be built on Third Street between Houston and Pierre streets, would damage or destroy historic resources. Board members said they were concerned about the museum’s height relative to other buildings in the immediate area. Plans call for the museum to be 65 feet tall.
Source: themercury.com
Marysville poverty simulation for educators described as ‘eye-opening’
About 12 percent of Marshall County’s children live at or below the federal poverty level. For a family of four, that means an income of $27,750. About 2 percent of children here live in extreme poverty, far below the federal level. Marysville school district’s teachers and other staff spent a morning learning a little about what that’s like recently during a poverty simulation conducted at a workshop in the Marysville Junior High gym. The educators, who took on the roles of young mothers, elder grandparents, teen-aged fathers, and other caregivers, spent a few hours trying to figure it all out and finding a way to get by. Those interviewed afterward found the experience helpful.
Source: The Marysville Advocate
EDGE grants spur $29,000 in beautification projects
ElevateEdgerton!’s new EDGE Grant program has exceeded expectations. Within just three weeks of launching the new Residential and Commercial Beautification program, ElevateEdgerton! has awarded all $5,000 set aside for 2022. Property owners applied for a wide variety of property façade improvements, totalling $29,000 in total project costs. “ElevateEdgerton! is extremely honored to be able to invest back into the community and help residents fund these type of improvement projects. Sometimes just a little extra bit of help can be the deciding factor and we are humbled with the interest we had in this program,” said James Oltman, ElevateEdgerton! president.
Source: Gardner News
Municipal bonds yields climb double-digits
Municipals sold off Wednesday, with triple-A benchmarks being cut up to 12 basis points across the curve, while U.S. Treasuries strengthened on the front end but the long-bond hit year highs and equities ended in the red. The Federal Open Market Committee meeting minutes show “the doves have left the building,” said Edward Moya, senior market analyst at OANDA, after the FOMC announced it expects a $95 billion per month balance sheet reduction, with analysts forecasting announcement and reduction beginning in May. “The Fed is worried about inflation spreading and that suggests they will remain aggressive a while longer even when growth concerns start to emerge later in the year.”
Source: The Bond Buyer
Wind energy discussions continue in Brown County
Discussions on wind energy are heating up at the county level. The Brown County Commissioners have spent some time in discussions about the possibility of wind energy farms that could come into the county. While Commissioner Bill Pollock has made it clear he is against any wind energy farms coming into the county, Commissioners Lamar Shoemaker and Richard Lehmkuhl are interesting in hearing from county residents. Several years ago there was a town hall meeting about proposed wind energy in the large courtroom at the courthouse, and the commissioners have discussed holding something similar again as the topic continues to arise.
Source: County Government | hiawathaworldonline.com
Kingsley is Harvey County’s new finance director
New Harvey County Finance Director Shannon Kingsley returned to her old stomping grounds. The Newton resident said she left her job as an internal financial auditor for Sedgwick County because she loved the community where she lives. She last worked for Harvey County in 2005 as the planning and zoning director. “I had some good experiences in the past and I am excited about the opportunity to come back here,” she said. Kingsley said she left in 2005 because the planning and zoning director position was part-time and she wanted to pursue a job that was more in alignment with her education. She earned a bachelor’s degree in business administration with an emphasis in accounting from Wichita State University. She said her job for Sedgwick County was more finance-centric, based on Sedgwick’s sheer size.
Source: Harvey County Now
Evacuations in Butler County after wildfire erupts near El Dorado airport
An active wildfire forced evacuations near the El Dorado airport Wednesday afternoon, a Butler County dispatch supervisor says. The fire started in the area between SW 30th and Highway 77, about one mile west of the airport. It is mostly contained, but still has some spots burning, according to the supervisor. Evacuations started around 2:30 p.m. near SE 30th and Turkey Creek. No injuries or damage to structures have been reported, dispatch says.
Source: Local News | Wichita Eagle
Wellington City Manager Shane Shields announces his retirement in August
The Wellington City Council met on Tuesday to implement the new RHID program and approve board and commission appointments. But the meeting’s biggest development was an important announcement from a longtime civil servant. Wellington City Manager Shane Shields announced his retirement after 42 years of civil service, 20 of which with Wellington. Shields has been the city manager since 2016. Shields started with the police department for eight years before moving on to City administration as a City Clerk and Finance Director in 2010. He ascended to his current position in 2016, where he’s effectively served the community since. Previously, he was the Sumner County Clerk. His retirement will go into effect on August 1, after which he plans to spend some time with his family.
Source: Sumner NewsCow
Christian Braun’s rise to championship with Jayhawks rooted in small-town Kansas
Long before he ever won a national championship, before the growth spurt to become a 6-foot-7 NBA prospect, before the obscenity-laced celebrations, Christian Braun was just a scrawny hooper from Burlington, Kansas. If you’re wondering about the source of the fiery passion that Braun used to spark Kansas and help the Jayhawks overcome the largest deficit in NCAA men’s title game history for a 72-69 win over North Carolina at the Superdome on Monday, look no further than his hometown. The decision by Braun to continue listing Burlington as his hometown instead of Overland Park, where the family moved for his freshman year of high school, has been a curious one to those close to him.
Source: Wichita Eagle
Municipal Bond Trends for April 5, 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.
Fed’s Mary Daly says high inflation ‘is as harmful as not having a job,’ pledges rate hikes ahead
San Francisco Fed President Mary Daly is worried about inflation, telling an audience Tuesday that the high cost of living is causing a heavy burden on society. “I understand that inflation is as harmful as not having a job,” she said during a session presented by the Native American Finance Officers Association. “That if you have a job and you can’t pay your bills, or I feel like I can’t save for what I need to do, then that’s keeping you up at night,” Daly said. “And our goal is to make sure that people don’t stay up worrying about whether their dollar today will be the same and worth a dollar tomorrow.” Daly spoke with the Fed embarking on a policy tightening phase that will include higher interest rates and a reduction in the amount of bonds the central bank is holding. Fed officials hope that reversing the ultra-easy policies they put into place during the pandemic will help get inflation closer to their 2% longer-run goal.
Source: CNBC – Bonds
Facades of Louisburg Improvement Program
FLIP, or Facades of Louisburg Improvement Program, provides matching funds from the city to assist in facade improvements of homes and businesses. New for 2022 is a change in the award amount for residential applications up to $1,000. FLIP Residential provides city residents a one-time reimbursement grant of 50% of the project costs to make exterior improvements to the front of their home. However, the city’s reimbursable amount shall not exceed $1,000. For example, if your project costs $500 then the reimbursable amount will be $250; a $1,500 project will award $750 and a project $2,000 or more will get a reimbursement of $1,000, the full $500 allowed.
Source: Louisburg, KS
Peterson hired as Manhattan’s Director of Community Development
Manhattan has found its next Director of Community Development. Stephanie Peterson, who currently serves as Executive Director of the Flint Hills Metropolitan Planning Organization, has been hired to fill the position and will start on May 9. She will succeed Eric Cattell, who retired in March. Peterson will oversee the city department which administers different aspects of development, land subdivision, long-range and current planning and housing and zoning issues within Manhattan. Peterson joined the Flint Hills MPO as Transportation Planner in 2013, shortly after its designation by the State of Kansas. It provides a regional forum to coordinate transportation planning and programming across portions of Riley, Pottawatomie and Geary counties.
Source: 1350 KMAN
Pet Ordinance is passed by Atchison
Joe Warren, Assistant City Manager, presented Adopt Ordinance 6680 to the commission at the Monday evening meeting. The ordinance is repealing the old amendment and including new residential requirements to the keeping of animals on property inside the city limits. The ordinance grew out of complaints about a property near 8th and Unity streets that has dog houses with dogs and no living quarters on the lot. The owners of the animals live across the alley from the lot with the dogs. Discussions ensued at the city level about the uses of vacant lots in general about whether there should be restrictions in place to protect the animals, neighborhoods and property values.
Source: Atchison Globe Now
Kansans doctors praise federal COVID-19 funding for underserved communities
Doctors at a Kansas hospital say a half-billion-dollar federal grant is helping combat COVID-19 in communities across the state most disproportionately affected by the pandemic. Using funds from the National Institute of Health Rapid Acceleration and Diagnostics in Underserved Populations program grant, the University of Kansas Health System leaders say they have been able to engage with communities in need. The hospital engaged with 10 focus counties: Crawford, Douglas, Finney, Johnson, Lyon, Riley, Saline, Sedgwick, Seward and Wyandotte. Ed Ellerbeck, chairman of population health at KU Medical Center, said the hospital held more than 500 testing events and delivered almost 50,000 tests in underserved communities. He said the core of the effort was to reassure Kansans about their ability to work with the health care system and combat misinformation.
Source: Kansas Reflector
Wichita City Council OKs renovation of City Hall
Wichita’s City Hall is getting some improvements on the first floor. Today, the Wichita City Council approved a plan to make renovations that should help citizens who have business in the building. During the coronavirus pandemic, the City made temporary arrangements so most customers could get the help they needed on the first floor. The main focus was to help people requiring customer service from Water Utilities and Housing Community Services. Tuesday morning, council members voted 7-0 to make permanent changes to the first floor. The $205,000 cost would come from Wichita Capital Improvement Program (CIP) funds.
Source: KSN-TV