City of Lawrence City Commission Agenda 2026-06-16
City Expresses Intent for IRBs to MRES Lusso Holdings, LLC
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Description
The City Commission adopted a resolution expressing intent to issue up to $35.3 million in Industrial Revenue Bonds for MRES Lusso Holdings, LLC, for a multifamily residential project; IRBs provide a one-time sales tax exemption on construction materials.
Contract Details
Contract Amount
Not to exceed $35,300,000 (proposed principal amount of IRB)
Vendor
MRES LUSSO HOLDINGS LLC
Agency
City of Lawrence, KS
Contract Type
FINANCIAL_SERVICES
Document Date
June 16, 2026
Renewal Info
Resolution of intent issued; actual bonds pending further approvals and negotiations.
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