FINANCIAL_SERVICESAMENDED

Unified Government of Wyandotte County and Kansas City, Kansas Economic Development & Finance Standing Committee Meeting Agenda May 2026

Unified Government Extends Timeline for 4601 Rainbow IRB Project

Not to exceed $52,927,000 (bond principal)Wyandotte County4601 RAINBOW LLCMay 4, 2026

Trusted by teams at

Description

The Unified Government plans to approve a Second Amendment of its Performance Agreement with 4601 RAINBOW, LLC, maintaining up to $52.9 million in industrial revenue bond authority while extending the project's construction commencement deadline to December 31, 2026. The amendment supports a 149‑unit multifamily facility that receives sales tax exemption on construction and a 10‑year property tax abatement, with project completion still targeted for June 30, 2029.

Contract Details

Contract Amount

Not to exceed $52,927,000 (bond principal)

Vendor

4601 RAINBOW LLC

Agency

Wyandotte County, KS

Contract Type

FINANCIAL_SERVICES

Document Date

May 4, 2026

Contract Term

Construction to commence on or before December 31, 2026 and be substantially complete on or before June 30, 2029; bonds to be issued no later than December 31, 2029

Renewal Date

2029-06-30

Renewal Info

Original Performance Agreement dated October 26, 2023 was first amended November 21, 2024 to extend commencement to July 1, 2026 and completion to June 30, 2029; the Second Amendment dated May 21, 2026 further extends commencement to December 31, 2026 while preserving the completion and bond issuance deadlines.