Spencer Fane attorney Andrew Kovar’s economic development insights were recently featured in the Wichita Business Journal article, Wichita Set to Review Economic Development Strategy After Frustration with Past Projects.
The piece examines Wichita, Kansas’, ongoing review of its economic development strategy and incentive policies as city leaders evaluate how incentives can better support growth, job creation, development, and long-term community goals. Harnessing more than two decades of experience collaborating with developers seeking incentives in Wichita, Andrew discussed how the city’s policies have evolved to incorporate additional developer security requirements, performance-based incentive qualifications, and review mechanisms intended to ensure projects deliver anticipated community benefits. He also addressed competition from surrounding municipalities and emphasized the value of allowing city leaders flexibility to evaluate projects on their individual merits.
“Every development is different, every project is different,” Andrew said. “In my experience, the city staff has been very good about looking at each individual proposal that is presented to them, analyzing what the project is, the expected cost and revenues and how the incentives structure might work.”
At the firm, Andrew serves as bond counsel to governmental and nonprofit organizations navigating municipal bond finance and economic development transactions, including general obligation bonds, revenue bonds, temporary financing, lease financing, and other financing mechanisms to efficiently advance infrastructure, utilities, health care, education, or other governmental and commercial imperatives. He routinely assists and advises clients with respect to public-private partnerships such as tax increment finance (TIF), community improvement districts (CID), STAR bonds, reinvestment housing incentive districts (RHID), and industrial revenue bonds (IRB).
Read Andrew’s full commentary here. Please note, a subscription may be required.