KS - November 22 2024

1. Rural Kansas Faces Housing Crisis, Needs 4,000 Homes Annually
2. Kansas Housing Panel Proposes Zoning and Tax Incentive Overhaul
3. Caterpillar Plant in Wamego Listed for $11.5 Million Sale
4. Senator Fagg Pushes $1B Investment to Tackle $9.7B Unfunded Pension Liability
5. Kansas Pension Fund Divests $300M From 'Countries of Concern'
6. Diner Review: Harvest Cafe, Inman, KS

1. Rural Kansas Faces Housing Crisis, Needs 4,000 Homes Annually

Rural Kansas needs around 4,000 new homes per year to meet a growing population’s housing needs and address the state’s housing crisis.  From legislation enabling zoning reform at the local level to boosted tax credits for developers, Kansas legislators heard about a myriad of options this week to increase the state’s housing supply.  A major focus for state lawmakers is finding ways to increase the availability of affordable housing because a majority of low-income Kansans and about 27% of all Kansas residents are spending more than 30% of their income on housing costs such as rent payments, mortgages and utilities.

Article Source: KS Reflector

2. Kansas Housing Panel Proposes Zoning and Tax Incentive Overhaul

A special committee of members from the Kansas House and Senate are working to increase affordable housing options across the state. The committee on Tuesday and Wednesday discussed a myriad of ways to bring in more affordable housing. A laundry list of recommendations were accepted, including reviewing tax incentives and the way they can be stacked, local government authority on rezoning and the way city building codes are changed.

Article Source: Topeka Capitol-Journal

3. Caterpillar Plant in Wamego Listed for $11.5 Million Sale

The Caterpillar plant in Wamego is up for sale. Caterpillar officials in June announced they will close the facility in mid-2025, leaving some 400 employees without a job. Commercial real estate company Colliers is handling sale of the plant, which officials say Caterpillar will vacate completely by the fourth quarter of 2025. The crane-served production facility — which totals 258,112 square feet across 44 acres, with 37 acres of potential expansion — is listed for sale at $11.5 million.

Article Source: Manhattan Mercury

4. Senator Fagg Pushes $1B Investment to Tackle $9.7B Unfunded Pension Liability

Republican Sen. Michael Fagg wants to persuade the 2025 Kansas Legislature to allocate $1 billion of the state’s revenue surplus to shrinking the $9.7 billion long-term unfunded liability in the state’s pension system. The Kansas Public Employees Retirement System, which serves more than 300,000 Kansans and possesses $27 billion in assets, years ago received legislative authorization to issue bonds so proceeds could be invested in the market to bolster the system’s bottom line. KPERS made use of $500 million bond issues in 2004 and 2021, and a $1 billion offering in 2015. On Wednesday, Fagg couldn’t convince the Legislature’s joint committee on pensions to get behind his idea of dedicating another $1 billion to address the system’s 30-year liability. Losses in 2022 — the return on investment was a negative 9.7% compared to a positive 15.7% in 2021 — deepened the challenge at KPERS in terms of meeting obligations on the pension-benefit horizon.

Article Source: KS Reflector

5. Kansas Pension Fund Divests $300M From 'Countries of Concern'

Kansas pensions are divested from all but one adversarial nation following the legislature’s passage of the Countries of Concern Divestment Act. The bill, which passed earlier this year without the governor's signature and had large majorities in the House and Senate, directed state-managed funds to remove any investments held in China, Cuba, Iran, North Korea, Russia and Venezuela. Countries of concern are determined by the United States Department of State, though not all were singled out for disinvestment. Since the bill passed, the fund liquidated 12 securities from 10 companies subject to divestment. Total investments in countries of concern was $294 million, which is about 1% of the fund’s total investments.

Article Source: Topeka Capitol-Journal

6. Diner Review: Harvest Cafe, Inman, KS

Under an expansive blue Kansas sky on a crisp October morning, I headed southwest on Old US-61 towards Hutchinson, Kansas. The destination was about 15 miles from McPherson, the Inman Harvest Cafe, a classic American diner that serves breakfast, lunch, and dinner every Friday. Inside, the cafe had an eclectic feng shui, decorated with trinkets and small models of various modes of transportation. The clientele was equally eclectic, and predominantly over the age of 70. The waitress Pauline was effusive with bubbly energy and witticisms. She’s apparently a bit of an institution, having been there 33 years and through six owners. I had already had my coffee during my 4 a.m. session writing the daily Ad Astra Citizen Journal Newsletter, but my dad enjoyed a cup of local craft coffee. I ordered the all-in goulash, which included homemade sausage and just about every other breakfast ingredient imaginable. My dad opted for a standard two-egg breakfast. The meal was excellent and came to a combined total of $38, including tip. I highly recommend the Inman Harvest Cafe and can’t wait to return for lunch and to try their buffet dinner on a Friday evening.

Sources

1. https://kansasreflector.com/2024/11/21/rural-kansas-needs-thousands-of-homes-per-year-to-address-shortage-lawmakers-hear/

2. https://www.cjonline.com/story/news/politics/state/2024/11/22/special-kansas-affordable-housing-panel-studies-ways-to-boost-options/76455677007/

3. https://themercury.com/news/wamego-caterpillar-plant-goes-up-for-sale/article_49e773bc-a8f0-11ef-8ec0-87ebd92fcc5f.html

4. https://kansasreflector.com/2024/11/21/kansas-gop-senator-wants-state-to-invest-1-billion-to-boost-pension-systems-bottom-line/

5. https://www.cjonline.com/story/news/politics/state/2024/11/22/kansas-pensions-remove-russian-and-china-from-investment-portfolio/76461300007/