City of Ottawa Regular Meeting Agenda May 2026
Ottawa Considers IRBs for Sunflower Plaza Rehab
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Description
Ottawa is poised to authorize up to $8 million in taxable Industrial Revenue Bonds for Ottawa Sunflower, LLC to acquire and fully rehabilitate the 60-unit Sunflower Plaza Tower senior apartments. The project includes a 10-year property tax abatement offset by a PILOT agreement requiring $40,000 annual payments from 2028 through 2037 and sales tax exemptions on eligible construction costs.
Contract Details
Contract Amount
Approximately $8,000,000 in Taxable Industrial Revenue Bonds; annual $40,000 PILOT for 10 years
Vendor
OTTAWA SUNFLOWER LLC
Agency
City of Ottawa, KS
Contract Type
FINANCIAL_SERVICES
Document Date
May 13, 2026
Contract Term
Property tax exemption and PILOT from 2028 through 2037; Resolution authority effective until December 31, 2028
Renewal Date
2037-12-20
Renewal Info
Resolution authorizing the IRBs remains effective until December 31, 2028 unless extended; PILOT agreement sets a fixed 10-year schedule of payments for 2028–2037.
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