FINANCIAL_SERVICESAPPROVED

Unified Government of Wyandotte County and Kansas City, Kansas Agenda June 2025

Sauer Castle Gets $11.5M IRB Approval for Historic Rehab

$11,500,000 (IRB principal); sales tax exemption of $628,256 applying to $6,885,000 in construction; $11,500,000 total project costWyandotte CountySAUER CASTLE LLCJune 2, 2025

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Description

The Unified Government approved its intent to issue up to $11.5 million in Industrial Revenue Bonds for Sauer Castle, LLC. The funding facilitates sales tax exemption on construction for the redevelopment of the historic property as an event space; no property tax abatement included. The exemption totals $628,256 on $6.885 million in eligible costs.

Contract Details

Contract Amount

$11,500,000 (IRB principal); sales tax exemption of $628,256 applying to $6,885,000 in construction; $11,500,000 total project cost

Vendor

SAUER CASTLE LLC

Agency

Wyandotte County, KS

Contract Type

FINANCIAL_SERVICES

Document Date

June 2, 2025

Contract Term

IRB resolution effective for 3 years from June 26, 2025, or until bonds issued or building permit obtained; expected operations by 2027

Renewal Date

2028-06-26

Renewal Info

Resolution valid for 3 years from adoption unless IRBs are issued or a building permit is obtained. The applicant/affiliate will purchase the bonds. Possibility of extension at government discretion by written request.