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Shawnee County OKs intent to support $48 million industrial revenue bond for Westridge renovation
Summary
The Shawnee County Board of County Commissioners voted 3-0 Aug. 4 to adopt a resolution expressing intent to issue up to $48 million in taxable industrial revenue bonds for the first phase of renovations at Westridge Mall and to enter a lease-purchase agreement with Dream Big Partners LLC.
The Shawnee County Board of County Commissioners voted 3-0 Aug. 4 to adopt Resolution No. 2025-59 expressing the county’s intent to issue taxable industrial revenue bonds in an estimated principal amount of $48,000,000 for phase 1 of the Westridge Mall renovation and to enter a lease-purchase agreement with Dream Big Partners LLC.
The vote followed a public hearing at which Bob Perry, bond counsel for the county, and a county resident described the legal limits and public concerns around industrial revenue bonds, often called IRBs. Perry told commissioners, "industrial revenue bonds are not a tax. The county is not obligated for them. There's it's just a mechanism for funding for projects."…
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