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Senate keeps malls eligible for Star Bonds; lawmakers debate redevelopment and transparency requirements
Summary
The Kansas Senate approved a substitute for SB197 to extend the Star Bonds program and, under tight conditions, allow redevelopment of underused mall properties while adding transparency and notice requirements.
The Kansas Senate on Feb. 20 approved a substitute version of Senate Bill 197, amending the Star Bonds Financing Act to extend the program and broaden eligible projects in a limited way that includes redeveloping certain mall properties.
Under the substitute bill and adopted amendments, a mall facility where at least 50% of the mall is unoccupied may be considered for a Star Bond zone if a private investment threshold is met and local governments follow required procedures. The substitute added several transparency provisions: local governments must notify residents…
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