Council approves letter of intent supporting bonds for 32-unit mixed‑income housing near Kellogg

The Wichita City Council voted to adopt a resolution supporting a letter of intent to issue multifamily housing revenue bonds for a 32‑unit mixed‑income project proposed by Midwest Housing Initiatives at 449 S. Holland Street.

Corey Nisley of Development Services described the request and explained the project will seek 9% low‑income housing tax credits and that a sales‑tax exemption would improve the applicant’s competitiveness for those credits. Sam Tavis of Excel Development said the site will include 32 rental units with two‑ and three‑bedroom options and will partner with Habitat for Humanity to place six for‑sale homes adjacent to the rental buildings.

The staff presentation estimated the project’s bond request at about $12.5 million and noted the applicant expects the sales‑tax exemption to change scoring in the state LIHTC process. City staff said bond documents would be prepared by city bond counsel and reviewed by the law department, and staff characterized the project as having no direct taxpayer risk in their standard disclaimer.

The council closed the public hearing, adopted the resolution and authorized signatures. Council members praised the infill location near Kellogg, noted the projected increase in assessed value (presented by staff as an increase from roughly $780,000 to about $3.66 million) and the expected additional annual property tax revenue (approximately $32,000) with the city’s share estimated near $30,000 for the sales‑tax exemption note.

Ending: The council approved the resolution in open session (vote recorded 7‑0). The matter next moves to bond‑document preparation and the developer’s LIHTC application process at the state level.