By BECKY KISER
Hays Post
Hays city commissioners heard details of economic incentives at their Thursday work session that would move forward two new residential housing developments.
Kim Rupp, finance director, and David Atterbury, the city's bond counsel with Gilmore & Bell, P.C., talked about the city's upcoming issuance of $6 million in general obligation bonds to finance the Tallgrass Phase 4 Reinvestment Housing Incentive District (RHID) public infrastructure improvements.
The project is a joint venture between the city of Hays and Heart of America Development Corporation of Ellis County. An RHID was created to cover the costs of installing the necessary water, sewer, and street infrastructure for the property. The RHID revenues generated by the district will pay the general obligation bond debt moving forward.
Commissioners will vote at their June 25 meeting on a resolution authorizing the issuance of the bonds.
Former Lincoln School housing project
Jarrod Kuckelman, assistant city manager, presented a resolution setting a public hearing for the establishment of an RHID at the site of the former Lincoln School, 1906 Ash.
Developer Michael Graham, Hays, plans to renovate the building into a 26-unit multi-family housing facility and to construct seven additional structures on the property, with four units in each new structure.
"This is a prime example of high-density infill development," Kuckelman said.
Graham requested RHID financing on a pay-as-you-go basis for 25 years and estimated it will generate about $1 million in revenues. RHID revenues will be derived from incremental property tax revenues collected on the project site. Graham estimated RHID-eligible project costs of about $4.3 million.
If the resolution is approved by commissioners next week, the public hearing and consideration of an ordinance establishing the RHID would be scheduled for Aug. 13.
Property/Liability insurance renewal
Rupp also reviewed the city's property/liability insurance coverage policy, which is up for renewal on July 1.
Taylor Pfannenstiel, Insurance Planning Inc., Hays, is the city's insurance broker. The coverage package was taken to market at the commission's request. One quote was received along with the renewal from Midwest Public Risk, which still had the lowest cost.
Pfannenstiel and Rupp recommended pursuing the 2026/2027 property/liability coverage renewal with MPR for $569,891, an increase of $90 over the previous year.
Vice-mayor Alaina Cunningham and Shaun Musil, commissioner, were absent from the work session.