This one-year pilot program is exclusively for new Wichita residential subdivision projects or for existing Wichita neighborhoods without municipal services. The extension takes bond terms for special assessment debt from the previous term of 15 years to 20 years.

The goal of the program is to lower monthly/annual special assessment payments for new residential subdivisions with unique and extraordinary development costs and provide incentives for existing neighborhoods without standard municipal improvements such as paving, water and sewer installations and storm sewers.

Applications will be considered on a case-by-case basis. Project approvals will be dependent upon the estimated 15-year monthly special assessment costs as well as excessive development costs. The real estate industry was surveyed to determine the price ranges of housing and the corresponding dollar amount of special assessments that should not be exceeded in order to preclude new developments from being considered "market compromised."

Applications will be reviewed by a task force appointed by the City Council consisting of Council members, City staff and representatives of the building/development industry. Applications may be accessed on line at http://www.wichita.gov/Business/DevelopWichita/) or by contacting Terry Cassady, Development Assistance Director, City Manager's Office at 268-4371.

For more information, contact: Terry Cassady, Development Assistance Director, 268-4371.