Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.
| State or Territory: | Kansas |
| Effected Jurisdiction: | City of Wichita |
Jurisdiction type: | Municipality |
| Fiscal year ending In: | 2017 |
| Program name: | Industrial Revenue Bonds (IRB) Program |
| Program purpose: | Construction/rehabilitation |
| Statutory authority: | K.S.A. 79-201(a); K.S.A. 79-3601 et seq. |
| Abating jurisdiction(s): | City of Wichita |
| Applicable taxes: | Property Tax; Sales Tax |
| Method of abatement: | Tax Exemption; lower interest on bonds |
| Provisions for recapture: | Cost-benefit analysis is required for approval. Further, pursuant to the City’s economic development policy, clawback provisions relating to the repayment or cessation of incentives are to be included in all incentive agreements. These clawback provisions allow the City to require repayment of a portion or all of the abatement if the entity does not meet its commitments. |
| Gross revenue loss: | $300,000 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $300,000 |
| Type of loss: | Active |
| Additional notes on dislosure: | (none) |
| Document source: | https://www.wichita.gov/Finance/Pages/FinancialDocs.aspx |
