The City of Wichita wants to make more improvements along the Arkansas River, and it wants to expand a bond district to pay for it.
The city plans to issue Sales Tax Revenue Bonds, or STAR bonds, to fund renovations to properties along the west bank of the Arkansas River. One major focus would be upgrades to the Lawrence-Dumont Stadium.
A STAR Bond District was established for the east side of the river in 2007. It helped to fund improvements from the WaterWalk to the Keeper of the Plains statue. The city uses sales tax revenue generated within the district to pay off the bonds.
City development analyst Mark Elder explained the proposal at Tuesday's City Council meeting and said expanding the district to the west side would complement those east bank improvements and other projects in the area, including the Advanced Learning Library.
“It’s an opportunity to expand the river district and make improvements and grow that area even more," he said.
The city says the STAR Bond District won’t increase taxes. A public hearing is set for Dec. 6; the Kansas Secretary of Commerce has to approve the amended district boundaries.
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