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Hays staff present plan to issue bonds for Tallgrass Phase Four RHID infrastructure
Summary
City staff told commissioners they will seek authorization on June 25 to issue general obligation bonds to pay for public infrastructure tied to the Tallgrass Phase Four Reinvestment Housing Incentive District (RHID) under a Development Agreement with Heart of America Development Corporation.
City of Hays finance staff on June 18 presented a Resolution that would authorize the issuance of general obligation bonds to finance public infrastructure for the Tallgrass Phase Four Reinvestment Housing Incentive District (RHID). Kim Rupp, the city's Director of Finance, and David Arteberry, Managing Director of Public Finance with Stifel Nicolaus Company, outlined that the city previously created the Tallgrass Phase Four RHID and entered into a Development Agreement with Heart of America Development Corporation which obligates the city to finance related public infrastructure.
Staff said approval of the Project Authorization Resolution would enable the city to issue bonds to fund the infrastructure described in the development agreement. Commissioners were notified that the item will be placed on the June 25, 2026 Commission meeting agenda for formal consideration. Special legal counsel Gilmore & Bell, P.C. reviewed the materials and found them consistent with Kansas law and the City's Economic Development Policy, according to staff.
