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Council approves IRB amendment for Market Center affordable apartments, raising letter of intent to $35 million
Summary
Council adopted an amended resolution of intent to change the borrowing entity name to Market Center Apartments LP and increase the industrial revenue bond letter of intent for Market Center Apartments from $30 million to $35 million; staff said the change is tied to LIHTC financing and only sales tax exemption on bond‑financed purchases applies.
WICHITA, Kan. — The City Council voted Sept. 3 to amend an earlier resolution of intent authorizing industrial revenue bond use for the Market Center redevelopment into 114 affordable housing units.
Assistant City Manager Troy Anderson said Wichita Opco LLC will assign tax credits and restructure as Market Center Apartments LP after…
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