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Council approves six‑month loan moratorium and amortization change for Starlight Drive‑In
Summary
Council approved a contract amendment to extend repayment terms on a $200,000 loan to the Starlight Drive‑In, granting a six‑month moratorium after storm damage and restructuring monthly payments to resume Feb. 2026. Borrower provided a new personal guarantor.
The Wichita City Council on Oct. 7 approved a contract amendment to extend a city‑originated $200,000 loan to Starlight LLC for equipment acquisition and operations.
Becca Johnson (Office of Community Services) recounted the loan’s history: approved Dec. 18, 2018, restructured in February 2025 with a $50,000 payment and a repayment schedule of $2,147.33 per month, and further extended previously for pandemic‑related hardship. The borrower requested a six‑month moratorium on principal and interest because of summer 2025 storm damage. Staff presented revised amortization with the borrower to resume $2,147.33 monthly payments beginning Feb. 2026 and a final payment expected in December 2031; the borrower provided a new personal guarantor.
Council members pressed staff on guarantees and past extensions. Council member Glasscock noted there is nothing to prevent a future extension, while Council member Hoheisel said he intends this to be the last extension. Staff and the city manager explained the loan came from district‑allocated proceeds from the sale of the Hyatt Regency hotel and that limited funds remain in certain districts. Council approved the contract amendment and authorized signatures (vote 7–0).
Council noted the loan program’s intent to preserve community assets and that the personal guarantor reduced financial risk.
