Great Bend Post
The City of Great Bend and Great Bend Economic Development have been working with the State of Kansas on a proposed STAR (Sales Tax and Revenue) bond project at the Great Bend Expo Complex. The work to take place may include, but not limited to, improvements to the SRCA Dragstrip (increased seating capacity and additional amenities), livestock arena with amenities, a banquet hall with four multi-purpose courts for sporting events, an amphitheater, improvements to the existing rodeo grounds and an additional hangar/restaurant.
The proposed plans and project costs are not final until approved by the State of Kansas.
STAR bonds are repaid through the increased sales tax revenue generated by the development. The base sales tax revenue is calculated and the increase in sales tax revenue is used to pay off the STAR bond. The STAR bond project costs are to be paid by the issuance of bonds of the City and may be issued to reimburse expenditures and paid off in 20 years. There would be no additional sales tax that the City of Great Bend citizens would be subject to.
A resolution will be presented Monday, Oct. 7 to the Great Bend City Council calling for a public hearing to consider the establishment of the STAR bond project district on Oct. 21.