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County counselor outlines risks and limits of industrial revenue bonds, questions use for housing
Summary
Riley County counselor Jacob Hansen briefed the commissioners on industrial revenue bonds (IRBs) and related tax-exemption practice, noting statutory foundations, typical local policies, and uncertainty about using IRBs for residential housing.
Riley County counselor Jacob Hansen gave an extended administrative briefing July 24 on industrial revenue bonds (IRBs), the statutory authority the county uses to consider property-tax exemptions and common local practices, and he said the county should weigh potential economic gains against reductions in the property-tax base.
Hansen pointed commissioners to the statutory language he referenced in the meeting (quoted in the discussion as “79201 a 20 fourth” as the site of the statute) and to a Kansas Legislative Division audit report from 2022 reviewing IRB use and outcomes. He said local practice around the state…
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