FINANCIAL_SERVICESPENDING

City of Wichita Resolution 26-179 2026-05-05

Wichita Plans $20M Housing Revenue Bond Issue

Not to exceed $20,000,000 (aggregate principal amount of bonds)City of WichitaVECINO BOND GROUP LLCMay 5, 2026

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Description

The City of Wichita adopted a resolution of intent to issue up to $20,000,000 in multifamily residential revenue bonds to finance a new multifamily facility to be leased to Vecino Bond Group, LLC or an affiliated entity. The action includes a conditional 95% property tax exemption and requires the tenant to cover all bond issuance expenses and execute a payment in lieu of taxes agreement.

Contract Details

Contract Amount

Not to exceed $20,000,000 (aggregate principal amount of bonds)

Vendor

VECINO BOND GROUP LLC

Agency

City of Wichita, KS

Contract Type

FINANCIAL_SERVICES

Document Date

May 5, 2026

Contract Term

Resolution effective upon adoption through December 31, 2028, unless extended; property tax exemption up to ten years (5 years + possible additional 5 years)

Renewal Date

2036-12-31

Renewal Info

Resolution of intent remains in effect until December 31, 2028, unless extended by majority vote of the governing body. Property tax exemption is approved for an initial five-year term with a possible additional five-year renewal at the governing body’s discretion, contingent on ongoing compliance with economic development guidelines.