Manhattan commissioners approve resolution allowing Meadowlark Hills to pursue roughly $50 million in industrial revenue bonds

The Manhattan City Commission on March 4 voted 3-0 to adopt a resolution expressing support for a future issuance of industrial revenue bonds (IRBs) to finance a new independent-living building and related campus improvements at Meadowlark Hills.

The resolution, described by staff as an "intent to issue" measure, also authorizes the release of a Meadowlark-owned Riley County facility previously financed with IRBs and directs the mayor and city clerk to execute documents needed for that release. Mayor McCullough and Commissioners Opelt and Mota voted in favor; one commissioner recused. Bond counsel and city staff said the full bond issuance and an accompanying request for a sales-tax exemption would come back to the commission for later approval.

The measure matters because IRBs can allow nonprofits and other applicants to receive sales-tax exemptions on construction materials and, in some cases, property-tax abatements. Jason (city staff) told the commission the city acts as a conduit for IRBs and that the bonds are not debt of the city. Chris Nelson, chief financial officer for Meadowlark Hills, told…