City of Lenexa Minutes Regular Meeting 2026-06-16
Lenexa Terminates IRB Lease with Meritex
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Description
The Lenexa Governing Body approved terminating the base lease and lease agreement with Meritex Lenexa Development II, LLC tied to the City’s $24 million industrial revenue bond issuance for surface buildings 3–5. With the project complete, the action unwinds the IRB-related lease structure.
Contract Details
Contract Amount
$24,000,000 (original IRB issuance)
Vendor
MERITEX LENEXA DEVELOPMENT II LLC
Agency
City of Lenexa, KS
Contract Type
FINANCIAL_SERVICES
Document Date
June 16, 2026
Contract Term
IRBs issued in 2022; lease and base lease terminated upon project completion in 2026
Renewal Date
2026-06-16
Renewal Info
Action terminates the existing base lease and lease agreement; no further renewals under this IRB structure.
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