Focus Area: Economy
Staff Contact: Jamie Robichaud and Kate Messer
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title:
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Consideration of Ordinance No. 26-42 authorizing issuance of the City’s taxable industrial revenue bonds in an amount not to exceed $10,521,660 for CB Olathe Holdings, LLC for the construction of a 26,271 square foot commercial facility at 200 West Santa Fe.
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recommended motion:
Make a motion and vote to consider approval of Ordinance No. 26-42
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Summary:
Upon approval of Resolution No. 25-1066 on August 8th, 2025, the City expressed intent to issue an amount not to exceed $10,521,660 of the City’s taxable industrial revenue bonds (“bonds”) for the construction of a 26,271 sqft commercial facility for Char Bar.
The project will receive a 10 year, 100% tax phase-in in conjunction with the issuance of the City’s industrial revenue bonds up to $10,521,660.
The Ordinance (Attachment B), prepared by the City’s Bond Counsel, Gilmore & Bell, P.C., will authorize the issuance of bonds not to exceed $10,521,660 for the Project. The Ordinance also authorizes the approval and execution of various documents required to facilitate the transaction under Kansas law, including a bond indenture and lease agreement.
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Financial Information:
Costs related to the issuance of the bonds will be paid by the City.
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Attachment(s):
A: Resolution No. 25-1066
B: Ordinance No. 26-42