City of Hays Agenda Packet 2026-05-07
City considers IRBs for Wheatland Commons project
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Description
Old Town Development Inc. is seeking up to $12.6 million in industrial revenue bonds from the City of Hays to support its Wheatland Commons affordable housing project. The proposed IRB intent resolution would provide a construction sales tax exemption and bolster the project’s low-income housing tax credit bid.
Contract Details
Contract Amount
Not to exceed $12,600,000 (IRB principal)
Vendor
OLD TOWN DEVELOPMENT INC
Agency
City of Hays, KS
Contract Type
FINANCIAL_SERVICES
Document Date
May 7, 2026
Renewal Info
Initial IRB intent only; future bond ordinance and lease agreements will define long-term terms if project financing proceeds. No automatic renewal provisions are specified.
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