City of Wichita reallocates unspent funds from Hyatt Regency sale

Hyatt Regency Hotel in downtown Wichita - stock photo
Photo credit Getty Images

At Tuesday's Wichita City Council meeting, the remainder of unspent funds from the 2016 sale of the Hyatt Regency were reallocated.

Live On-Air
Ask Your Smart Speaker to Play K N S S Radio
KNSS Radio
Listen Now
Now Playing
Now Playing

District I was the only district in the city that had not used up its allocation. The Neighborhood Grant Program for District I will receive a $44,000 increase, for a total contribution of $79,080. One-time grants will be available in the district for up to $1,500.

The Kansas Aviation Museum will receive $15,000 to support the Black Aviators Exhibit. Finally, $20,697 will be dedicated to programs and initiatives that include the Summer Evening Recreation Program and Community Day Program.

Council member Brandon Johnson said he’s excited about the funds finally being used.

The city sold the Hyatt to businessman Phil Ruffin in July 2016 for $20 million. $10 million of the sale was directed to street maintenance, and another $4 million to the city's transit system. The rest was split among the city's six districts.

In other city news, more warehouses are coming to north Wichita.

The council approved issuing around $20 million in industrial revenue bonds for the ict21 project near 21st Street North and I-135.

One of the warehouses at the former oil refinery site is near completion and the other has footings and foundations being poured. The city says both buildings under construction will be 180 thousand square feet in size, and one already has strong leasing activity.

The bonds approved Tuesday will help in construction of the third warehouse at the site, which is slated to be 195 thousand square feet in size.

Featured Image Photo Credit: Getty Images