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Council adopts resolution to enable sales-tax exemption via industrial revenue bonds
Summary
The council approved resolution 2026-02 as a first step toward issuing industrial revenue bonds to secure a sales-tax exemption for construction materials and equipment on the Residences on the Boulevard project; city staff said bonds will not be issued to finance the project.
The Basehor City Council adopted resolution 2026-02 of intent to issue industrial revenue bonds (IRBs) for the Residences on the Boulevard project, a step the city said is intended to allow the developer to obtain a project exemption certificate and avoid paying sales tax on certain out-of-state purchases. Bond counsel (represented at the meeting by special counsel Pete Heaven) told the council the IRBs would not be used as financing for the project; instead, the mechanism provides a sales-tax exemption under Kansas law.
Heaven explained the program: the resolution permits a later IRB action that would allow the developer to apply for a project exemption certificate, which they can provide to contractors to avoid sales tax on building materials, furniture and equipment. "We will not be issuing bonds for financing. We're issuing bonds only to give the developer a sales tax exemption on building materials and furniture and equipment," Heaven said. The council moved and approved the resolution and authorized necessary signatures.
