When will the housing market cool down? WSU releases annual forecast

Will the hot housing market stay hot? Wichita State University’s (WSU) Center for Real Estate released its annual housing forecast. The verdict? The market may be cooling off but by how much? It has been a very unusual year — coming off the pandemic when stimulus checks and low-interest rates set the housing market on fire. This year those interest rates skyrocketed, bringing down housing affordability. So the big question this year is when will the market balance out?
Source: KSN-TV

Ranson Financial2022-10-07T00:15:46-05:00October 7, 2022|News|

Overland Park infrastructure group says sales tax increase could reduce chip seal work

An Overland Park infrastructure advisory group says renewing and increasing a special sales tax could be one way in which the city could fund improvements to the city’s aging infrastructure while reducing its reliance on the controversial chip seal method of road resurfacing. Overall, the group says the city needs nearly $30 million more annually in order to maintain its infrastructure, primarily roads, at a “good” level. Any decision to increase the city’s current 1/8-cent special sales tax dedicated to infrastructure would ultimately have to be approved by voters, and the suggestion was one of several revenue-raising possibilities the group offered in a report discussed by the city council Monday.
Source: Prairie Village Post

Ranson Financial2022-10-07T00:10:46-05:00October 7, 2022|News|

Arkansas City gives land to college for tech center

Arkansas City commissioners unanimously approved donating the city-owned property at the corner of West Washington Avenue and South Fifth Street to Cowley College for its new career and technical training center. The location is the site of the city’s old water treatment plant. The commission on Tuesday considered whether to sell the property to the college. Commissioner Jay Warren argued that donating it would benefit both the college and the city.
Source: The Arkansas City Traveler

Ranson Financial2022-10-07T06:37:18-05:00October 7, 2022|News|

Allen County looks at options for 911 backup

A county commissioner wants to explore more options to develop an emergency backup plan for the 911 system. Commissioner David Lee suggested Chelsie Angleton, 911 director, look at alternatives to a proposal she’s working on that would set up a backup system in the event the dispatch center in Iola was wiped out by a disaster such as a tornado or flood. If the Iola communications center were heavily damaged, dispatchers could move to a temporary location. She proposed setting up a backup station in the basement of Humboldt’s City Hall, which could allow dispatchers to operate there during the emergency.
Source: The Iola Register

Ranson Financial2022-10-07T06:38:07-05:00October 7, 2022|News|

Kansas ditches debt as it strives for rating upgrades

With a stabilized budget and amid stronger-than-expected revenue growth, Kansas paid off a chunk of debt and will fund some projects with cash, saving $754 million in interest costs as it builds a case for rating upgrades. The state tapped its surplus to pay down $1.6 billion of debt mostly owed to its pension system, redeemed callable bonds, and will cash fund $203 million of capital projects instead of issuing bonds, Gov. Laura Kelly announced Monday. “By prioritizing fiscal responsibility, we have put Kansas back on track and ready for the road ahead,” she said in a statement.
Source: The Bond Buyer

Ranson Financial2022-10-07T06:39:01-05:00October 7, 2022|News|

Fed’s Bostic would raise rates as high as 4.5% by end of 2022

Federal Reserve Bank of Atlanta President Raphael Bostic said he favors lifting interest rates to between 4% and 4.5% by the end of this year, and then keeping the tightening in place to reduce inflation that remains near a four-decade high. “I would like to reach a point where policy is moderately restrictive — between 4 and 4 1/2 percent by the end of this year — and then hold at that level and see how the economy and prices react,” Bostic said in prepared remarks Wednesday to Northwestern University’s Institute for Policy Research.
Source: The Bond Buyer

Ranson Financial2022-10-06T23:58:24-05:00October 6, 2022|News|

67 Counties, Including Sedgwick, Updated to Drought Emergency Status

Governor Kelly has approved updated drought declarations for Kansas counties with Executive Order #22-08. This drought declaration continues to keep all 105 Kansas counties either in watch, warning or emergency status. The drought declaration placed 67 counties into an emergency status, 11 counties in a warning status and 27 into a watch status. This action was recommended by Connie Owen, Director of the Kansas Water Office and Chair of the Governor’s Drought Response Team. Much of Kansas has experienced above normal temperatures, with precipitation averaging well below normal for many of those same locations over that same timeframe. In some parts of Kansas these precipitation deficit conditions have existed since the latter part of 2021.
Source: 101.3 KFDI

Ranson Financial2022-10-06T23:55:34-05:00October 6, 2022|News|

Daily resigns as Sedgwick’s police chief and interim city administrator; hired as Medicine Lodge city administrator

Sedgwick police chief and interim city manager Brian Daily announced that he had accepted a position with Medicine Lodge as their full-time city administrator at Monday’s city council meeting. The start date for his new position will be Nov. 14. After two executive sessions totaling thirty minutes, Daily told the council he would submit an official resignation letter as well as what his last day would be soon. “I had a great opportunity here,” Daily said. “I’ve loved everything about Sedgwick. I’ve enjoyed it and I’m excited about this next opportunity.” Mayor Bryan Chapman told Daily that he has done a good job.
Source: Harvey County Now

Ranson Financial2022-10-07T06:44:15-05:00October 6, 2022|News|

Wichita’s emergency rental assistance program ends after federal funds run out

$29 million spent and 3,300 families helped. That was what the Wichita Emergency Rental Assistance program accomplished in the 18 months it was active. City Housing Director Sally Stang sums up the response to WERAP pretty simply, “There was tremendous demand.” However, the program is ending. Stang says the city is no longer accepting any new applications and will be paying out its final few months of rent checks through the end of the year. The reason for such a popular program getting shut down? It ran out of funding.
Source: KAKE – News

Ranson Financial2022-10-06T23:47:58-05:00October 6, 2022|News|

Topeka creates first of its kind position to focus on development, equity

The City of Topeka has hired a new Director of Development and Economic Growth, a position that is the first of its kind in the capital city. Filling this position is Rhiannon Friedman who previously has been serving as the President of Downtown Topeka, Inc. She will be transitioning to her new role later this year on an as yet undetermined date. The position will be housed within the City’s Planning and Development Department. It will aim to make Topeka more development efficient with equity at the core. Friedman will focus on affordable housing expansion, incentive packages available to builders and developers as well as increased communication in these areas.
Source: KSNT 27 News

Ranson Financial2022-10-06T23:45:31-05:00October 6, 2022|News|