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Council agenda lists $6 million multifamily revenue bonds for 36-unit project at 721 W. Maple; 10-year abatement noted
Summary
City staff placed on the Wichita City Council’s May 6 agenda a proposal to approve $6,000,000 in multifamily residential revenue bonds to finance construction of 36 residential units at 721 West Maple.
City staff placed on the Wichita City Council’s May 6 agenda a proposal to approve $6,000,000 in multifamily residential revenue bonds to finance construction of 36 residential units at 721 West Maple.
The project listing identified the bond amount and unit count; during the agenda review a council member asked about the term of an associated property tax abatement. Staff replied that the abatement term is 10 years.
Staff presented the agenda item without a formal motion or recorded vote in the transcript. The council discussion at the agenda review stage was limited to a clarification question about the abatement term. No further details of the development agreement, bond term, or schedule for final council action were provided in the transcript.
Because the item was presented as a new-business agenda entry, the Council will formally consider the bond request when the item appears on the council agenda for action; the transcript does not record a decision or vote.
