Company News Resolution to Create Park City STAR Bond District Receives Approval

January 11, 2023

Decision creates the opportunity for new commercial and recreational development

A new resolution to establish a tract of land for development in Park City as a Kansas sales tax and revenue STAR Bond was approved by the Park City city council on Tuesday, January 10, via unanimous 8-0 decision.

“It’s a win for Sedgwick County and south-central Kansas,” said city administrator Sean Fox. “We’re talking millions of folks who will be coming to south-central Kansas on a regular basis.”

Read more at: https://www.kansas.com/news/business/biz-columns-blogs/carrie-rengers/article270992827.html#storylink=cpy

This resolution is the first step to designate the former Echo Hills Golf Course area between 53rd Street and 61st Street in Park City as a STAR bond district.

The STAR bond program was created by the State of Kansas to stimulate economic development and partnerships between Kansas cities and private organizations to develop new businesses and attractions that drive tourism and generate revenue.

“This new bond district would be a big win-win for Park City and its people,” says Rachel Lange, of Lange Real Estate, “creating new recreational and business opportunities – as well as jobs – for the community while also bringing in outside dollars. It’s also a key move in shaping the future growth of Park City, what the community will look like, and what it can become over the next decade.”

Commercial developments within the proposed Park City STAR bond district are still in the early stages of planning and discussion, these types of bond districts typically include mixed-used developments such as museums and aquariums, retail spaces, entertainment venues, athletic complexes, restaurants, hotels and residential use. For more information about potential development opportunities within the Park City STAR Bond District, contact Stephanie Wiens, our commercial real estate manager.

In Wichita specifically, STAR bonds have previously helped fund projects like the Keeper of the Plains, Riverfront Stadium and Stryker Sports Complex.

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