Council OKs letter of intent for Enclave West revenue bonds to finance 60‑unit multifamily project

Wichita — The City Council on Sept. 16 closed a public hearing and adopted a resolution authorizing a letter of intent for Enclave West LLC to pursue revenue bonds to finance a 60‑unit multifamily development at the northwest corner of 13th and West.

Troy Anderson, assistant city manager, told the council the project consists of 15 two‑story buildings for a total of 60 units and that the developer expects to seek approximately $8 million in revenue bonds. Under the city’s guidelines the project would qualify for a 50% property‑tax abatement based on new capital investment; staff estimated the city’s share of the first full‑year abatement at about $106,000 and said the project is also eligible for sales‑tax exemption (estimated total sales‑tax exemption ~$235,000; city share ~$18,000).

Staff emphasized that under the city’s revenue bond procedure the city is not lending taxpayer dollars or bearing financing risk; the owner/developer must secure all financing and pay issuance costs. Bond documents will be prepared by outside counsel and reviewed by the city law department prior to issuance.

Councilmember Ballard, whose district includes the site, expressed strong support for infill workforce housing on a long‑vacant parcel and moved to adopt staff’s recommendation to close the hearing and authorize the resolution. The motion passed unanimously.

What happens next: The developer will prepare final financing documents and present bond documents and the property‑tax abatement for final review; as a reminder council approval of the initial resolution does not commit city funds and staff said no taxpayer dollars would be at risk.