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Topeka Development Corporation approves $291,086 to cover Hotel Topeka operating shortfall
Summary
The Topeka Development Corporation board on June 2 approved a $291,086 supplemental funding request to cover an operating shortfall at Hotel Topeka, contingent on the governing body approving a transfer of funds to the corporation; the board met in executive session under KSA 75-4319(b)(4) before the vote.
The Topeka Development Corporation board of directors on June 2 approved an additional funding request of $291,086 to cover operations and maintenance at Hotel Topeka, contingent on the governing body approving a transfer of funds to the corporation.
The funding request was presented after the board recessed into and returned from executive session. Kapila, a city staff member who presented the item, said, “we are sitting on a fund balance in our operating account of the hotel of 46,000. Contractually, we are obligated to maintain a balance of a hundred and…
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