- STAR Bond
What is a STAR Bond?
Sales Tax Revenue (STAR) Bonds provide Kansas municipalities the opportunity to issue bonds to finance the development of major commercial, entertainment, and tourism areas and use the sales tax revenue generated by the development to pay off the bonds. STAR Bonds are reserved for large scale projects that are “characterized as a statewide and regional destination, and include a high quality innovative entertainment and tourism attraction."
According to the "50/50 Rule," STAR Bonds must generate at least $50 million in taxable sales revenue and a minimum $50 million in improvements, such as buildings and facilities which generate property tax revenue for the City, County, and School District.
It is important to note that the City of Goddard keeps its portion of any and all current and new sales tax revenue generated outside of the district within Goddard. For more information regarding STAR Bonds, please click HERE.
Goddard's STAR Bond
The City of Goddard's STAR Bond will include the construction of a 150-room Class A hotel with a conference facility, an Olympic Quality Swimming Complex operated by the International Swimming Hall of Fame, baseball/softball fields, as well as retail, commerce, dining, and more!
For information on staff presentations for key action items such as the project plan public hearing, development agreement and amendments, project infrastructure items, please click HERE.
STAR Bond Document Links
Affidavit of Publication - Ordinance #736 - December 2012
Affidavit of Publication - Resolution #12-14 - December 2012
District STAR Bond Project Approval - January 2013
STAR Bond Financing & Project Plan - September 2013
State STAR Bond Project Approval - May 2014
Affidavit of Publication - Community Improvement District (CID) Resolution - August 2014
Market Analysis and Development Agreements
Goddard STAR Bond Development Agreement
Goddard STAR Bond Development Agreement Updated
First Amendment of Development Agreement - December 15, 2014
Second Amendment of Development Agreement - March 16, 2015
Third Amendment of Development Agreement - March 21, 2016
Fourth Amendment of Development Agreement - December 4, 2017
STAR Bond News Links
Goddard Sports Complex Envisioned as Possible Complement to Northeast Project - Wichita Business Journal - November 13, 2012
Goddard Approves Bonds for Big Sports Complex - Hays Post - April 22, 2014
STAR Bond Tool Used for Major Projects - Garden City Telegram - November 6, 2014
Ground Broken for Multi-Million Dollar Hotel and Sports Center - Times-Sentinel - January 21, 2015
Work on Goddard Aquatic Center and Hotel to Begin This Spring - Wichita Eagle - March 17, 2015
Goddard to Break Ground on New Hotel and Aquatic Center - KSN - March 17, 2015
Construction to Begin Soon on Goddard Hotel, Aquatics Center - Wichita Business Journal - July 29, 2015
Construction Starting on Goddard STAR Bond Project - Wichita Business Journal - January 14, 2016
Goddard breaks ground on new hotel and aquatic center in STAR bond district - KSN - January 14, 2016
Developers working to overcome 'obstacles' for Goddard STAR bond work - Wichita Business Journal - October 14, 2016
Goddard Sports and Hotel Complex Could Break Ground Within a Month - Wichita Eagle - March 22, 2017
Goddard Sports and Hotel Complex Financing Still Not Finalized - Wichita Eagle - July 26, 2017
Goddard Aquatic Complex to Have New Subdeveloper, Slightly Amended Plans - Wichita Eagle - October 20, 2017
Goddard STAR Bond Development Back on Track - Wichita Business Journal - December 8, 2017
Developer Out of Goddard STAR Bond Project - Wichita Business Journal - February 10, 2018
S&O Investments Drops Out of $60 Million Goddard Deal - Wichita Eagle - February 12, 2018
STAR Deal Crashed After Developer Asked for More Incentives - Times-Sentinel - February 13, 2018
New Goddard Aquatic Deal, Possibly Without a Water Park, Is Imminent - February 13, 2018
Goddard STAR bond project finally a reality?-October 4, 2018