FINANCIAL_SERVICESPENDING

Ottawa Plans IRB Financing for Kansas State Bank Project

The City of Ottawa is moving forward with plans to issue approximately $4 million in Taxable Industrial Revenue Bonds to support Kansas State Bank's acquisition and full rehabilitation of a banking facility at 122 W. Tecumseh Street. The project is structured to provide a sales tax exemption on construction materials and labor, lowering project costs and supporting expanded office and storage space for the bank.

Status
PENDING
Document date
August 17, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Kansas State Bank
Agency
City of Ottawa · KS

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
Approximately $4,000,000 (principal amount of Taxable Industrial Revenue Bonds); estimated project budget $4,220,879; estimated sales tax cost reduction $164,730
Contract type
FINANCIAL_SERVICES
Contract term
Resolution effective upon adoption and remaining in effect until December 31, 2028; project expected to add 7 employees over 10 years
Renewal date
2028-12-31
Renewal
Resolution authorizing the IRB issuance remains in effect until December 31, 2028, unless extended by majority vote of the governing body; issuance of bonds still requires passage of an ordinance and completion of related financing documents.
Document type
AgendaPacket
Source document
City of Ottawa Regular Meeting Agenda Packet 2026-08-19

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Ottawa?

Kansas State Bank was awarded this financial services contract by City of Ottawa, as recorded on August 17, 2026. The contract value is Approximately $4,000,000 (principal amount of Taxable Industrial Revenue Bonds); estimated project budget $4,220,879; estimated sales tax cost reduction $164,730.

How much is the Kansas State Bank contract with City of Ottawa worth?

The Kansas State Bank contract with City of Ottawa is valued at Approximately $4,000,000 (principal amount of Taxable Industrial Revenue Bonds); estimated project budget $4,220,879; estimated sales tax cost reduction $164,730, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in City of Ottawa Regular Meeting Agenda Packet 2026-08-19 (AgendaPacket), dated August 17, 2026 from City of Ottawa. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Kansas State Bank hold?

Kansas State Bank may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Kansas State Bank's profile

What is City of Ottawa currently buying?

Explore City of Ottawa's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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