FINANCIAL_SERVICESAPPROVED

City of Garden Plain Governing Body Meeting Agenda May 6, 2026

City approves IRBs for Jeeps Baker multifamily project

Approximately $3,500,000 (Bond principal)City of Garden PlainJEEPS BAKER CONSTRUCTION LLCMay 6, 2026

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Description

The Garden Plain governing body approved Resolution 250 to issue approximately $3.5 million in taxable industrial revenue bonds for the Jeeps Baker Homes project in Bentwood Addition. The bonds will finance construction of 10 rental housing units and provide a 10‑year property tax exemption and sales tax exemption on construction materials, subject to final documentation and approvals.

Contract Details

Contract Amount

Approximately $3,500,000 (Bond principal)

Vendor

JEEPS BAKER CONSTRUCTION LLC

Agency

City of Garden Plain, KS

Contract Type

FINANCIAL_SERVICES

Document Date

May 6, 2026

Contract Term

Property tax exemption for 10 years following bond issuance; resolution effective until December 31, 2027

Renewal Info

Resolution 250 remains effective until December 31, 2027 unless extended; property tax exemption intended for 10 years after bond issuance, with 100% abatement in years 1-5 and 50% in years 6-10, and potential payments in lieu of taxes starting year 6.