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Board accepts Frontier Development Group offer for Kansas Avenue property with contingencies
Summary
The Emporia Board of Education voted 7-0 to accept a developer's $80,000 offer for the Kansas Avenue property, contingent on rezoning, formation of a reinvestment housing incentive district and receipt of a Kansas Housing Investor Tax Credit award.
The Emporia Board of Education voted 7-0 to accept an offer from Frontier Development Group to purchase the district-owned Kansas Avenue property for $80,000, with $10,000 in earnest money and contingencies tied to rezoning, the establishment of a reinvestment housing incentive district (RHID) and a Kansas Housing Investor Tax Credit (KHITC) award.
Board members discussed the proposal after Tyler Holloman, president of Frontier Development Group, described the company’s experience converting historic buildings into workforce housing in nearby towns and outlined the financing requirements the developer would need to proceed. Holloman said Frontier planned multiunit workforce housing targeted roughly at 50–60%…
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