Extreme heat prompts City of Topeka to take action with cooling shelters

26 Wednesday, July 26

Extreme heat prompts City of Topeka to take action with cooling shelters

info2023-07-26T09:30:59-05:00July 26th, 2023|

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 [...]

26 Wednesday, July 26

Fed Set to Raise Rates to 22-Year High

info2023-07-26T09:02:31-05:00July 26th, 2023|

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 [...]

26 Wednesday, July 26

15 years of low interest rates reshaped the U.S. economy. Here’s what’s changing as rates stay higher for longer

info2023-07-26T09:01:11-05:00July 26th, 2023|

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 [...]

26 Wednesday, July 26

Municipal Bond Trends for July 25, 2023

Henry Schmidt2023-07-26T00:30:09-05:00July 26th, 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.

25 Tuesday, July 25

Municipal Bond Trends for July 24, 2023

Henry Schmidt2023-07-25T07:23:19-05:00July 25th, 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.

25 Tuesday, July 25

A 10-year rally in U.S. home prices could be coming to an end, says Yale’s Robert Shiller

info2023-07-25T01:16:43-05:00July 25th, 2023|

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 [...]

25 Tuesday, July 25

Hiawatha updated on maple leaf statue plans

info2023-07-26T08:53:45-05:00July 25th, 2023|

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 [...]

25 Tuesday, July 25

Nonprofit movie theater in Greensburg concerned about possible closure

info2023-07-25T01:08:37-05:00July 25th, 2023|

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

25 Tuesday, July 25

Mission OKs new tax abatement policy

info2023-07-25T01:07:26-05:00July 25th, 2023|

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 [...]

25 Tuesday, July 25

Prairie Village wants to build new city hall, caps project at $30M

info2023-07-25T01:04:25-05:00July 25th, 2023|

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