Phillipsburg approves loans for local hotels

To help the local hotels through the current economic downturn, the Phillipsburg City Council approved at their regular Monday meeting to offer $2,500 loans to the community’s three hotels. The interest-free loans are being offered with an 18-month term and will be funded from the city’s Industrial Development Fund (IDF). The IDF is funded by 1 mill annually and can only be spent on economic development that will benefit the city.
(Read more: Phillipsburg, KS)

Ranson Financial2020-04-23T08:49:56-05:00April 23, 2020|News|

Legislative session delayed, two-thirds of lawmakers at risk of contracting virus

The Kansas Legislature’s leadership postponed resumption of the session Wednesday to protect two-thirds of lawmakers considered at risk of being infected with COVID-19, a decision likely to compel Gov. Laura Kelly to issue a new statewide emergency declaration and potentially jeopardize millions of dollars in federal aid.
Lawmakers were scheduled to reconvene April 27, but concern about undermining health of House and Senate members led the bipartisan Legislative Coordinating Council to abandon that plan. The LCC voted unanimously to delay a decision on resumption of work at the Capitol to no later than May 6. The governor’s overarching emergency declaration for Kansas will expire May 1.
House Speaker Ron Ryckman and Senate President Susan Wagle, two Republicans on the LCC, said the governor could retain all her emergency authority by issuing a new disaster declaration. The process doesn’t allow her to simply extend the existing order.
(Read more: Local – The Hutchinson News)

Ranson Financial2020-04-23T09:17:49-05:00April 23, 2020|News|

Wyandotte County facing huge budget shortfall as many businesses remain closed

The coronavirus shut downs are hitting people’s pockets hard.
In Wyandotte County, the Unified Government is facing a $15-20 million budget shortfall due in part to all the business closures.
From the empty streets, parking lots and stores, the Legends almost looks like a ghost town.
(Read more: fox4kc.com | FOX 4 – WDAF)

Ranson Financial2020-04-23T09:05:39-05:00April 22, 2020|News|

Cities discuss summer programs

The Hiawatha City Commission held its second virtual meeting on Monday evening, and the group spoke with Parks and Recreation Director Stacy Jasper about the status of summer sports and programs, given the extension of the stay-at-home order to May 3 in Kansas.
Jasper said she has been in contact with other local recreation departments, and does not intend to cancel summer activities like some others have done unless it becomes definitively necessary.
(Read more: hiawathaworldonline.com)

Ranson Financial2020-04-23T09:09:00-05:00April 22, 2020|News|

Marion County weighs hiring administrator

County commissioners once again discussed hiring an administrator, with support from Goessel resident Mark Voth, Hillsboro city councilman Kevin Suderman, and county commission chairman Jonah Gehring. Voth said an administrator can spend hours doing detailed research on a subject and present the facts to the commission for a decision, which would allow shorter commission meetings and better decisions.
“I see all this time and energy spent on just putting water on things,” Voth said. “I see an administrator as giving you time to vision for the county.”
(Read more: HILLSBORO Star-Journal)

Ranson Financial2020-04-23T09:08:03-05:00April 22, 2020|News|

Municipal Bond Trends for April 21, 2020

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.

Ranson Financial2020-04-23T09:18:30-05:00April 22, 2020|News|

Overland Park farmers market to open Saturday — but customers won’t leave their cars

Overland Park is planning to open its farmers market this weekend. But worried about large crowds spreading the novel coronavirus, officials said shoppers will be restricted to their cars.
The city was planning to open the market for the season earlier this month — with fewer vendors and a move to a nearby parking lot — but decided to postpone it after several residents complained that the event could lead to more cases of COVID-19. Now, officials announced the market will open in drive-thru format on Saturday in a different location.
Like grocery stores, farmers markets are considered essential operations under metrowide stay-at-home orders. The City Market downtown and Brookside Farmers Market never closed. But many Johnson County cities have postponed their markets as the coronavirus outbreak continues.
(Read more: Joco 913 News)

Ranson Financial2020-04-22T09:48:55-05:00April 22, 2020|News|

COVID-19 shutdown slows some major Johnson County construction projects, but not all

Even with construction considered an “essential service” under COVID-19 stay-at-home orders, major development projects across Johnson County are facing setbacks or coming to a halt.
With major public and private projects in the works — including new housing, entertainment complexes, sports amenities, a courthouse and community centers — leaders had expected 2020 to be another year of strong growth in the booming Kansas City suburbs.
Now, from the Interstate 35 expansion to the long-awaited Mission Gateway development, crews are struggling to finish projects due to a shortage of supplies and strict social distancing requirements. Some developers have decided that operating during this time is too risky to employees’ health, shutting down work sites completely.
(Read more: Joco 913 News)

Ranson Financial2020-04-22T09:49:05-05:00April 22, 2020|News|

Demand for municipal bonds is reemerging, as new issues see ‘decent’ demand

Trading in the secondary market saw AAA benchmark yields rise by three to five basis points but the primary market showed signs of life with several larger new deals getting done at appropriate levels given current market conditions as the coronavirus continues to ravage state and local credit quality. The municipal market weakened a little but that did not prevent new issue deals from coming in and pricing, as demand for the asset class seems to be gaining steam.
Meanwhile, more issuers are opting to go the private placement route. …
“I think buyers are finally starting to get comfortable at the new levels which we are at,” said one New York trader. “The deals today saw decent demand, which should give the rest of this week’s issues renewed optimism.”
(Read more: The Bond Buyer)

Ranson Financial2020-04-22T09:50:14-05:00April 22, 2020|News|

Hutchinson braces for financial impact of covid-19 crisis

The City of Hutchinson’s General Fund Balance is projected to decline by $1.3M for the remainder of 2020 largely due to a drop in sales tax revenue in the wake of the COVID-19 crisis. City Manager John Deardoff, working closely with department heads, has developed a measured approach to addressing the inevitable financial impact.
“We are fortunate to have a strong fund balance, which we have made a priority in recent years. While that exists for unexpected downturns like this, it would be irresponsible to rely solely on that reserve while so many others in our community are tightening their belts,” Deardoff said. “That fund will absorb some of the impact, but we want to make sure to maintain some cushion for the future.”
Phase I was implemented on March 30 and included a reduction of seasonal labor and a hiring freeze in select departments.
(Read more: Hutchinson, KS – News Flash)

Ranson Financial2020-04-22T09:51:15-05:00April 22, 2020|News|