The following is an excerpt from the April 16 issue of The Wichita Eagle. Stan Longhofer, director of Wichita State University's Center for Real Estate, is featured in the article.
Longhofer to review Exchange Place plan
Stan Longhofer, director of Wichita State University's Center for Real Estate, has been retained by the city to conduct a third-party review of Real Development's Exchange Place project.
Longhofer's review will go before the Wichita City Council on Tuesday as it takes action on a request from Real Development to approve $2.3 million more in TIF financing for the downtown condo project.
Longhofer's job is to analyze city cash flow projections to see whether the Exchange Place project will generate enough new property taxes to repay the city's higher investment — $11.6 million instead of the originally approved $9.3 million in TIF revenue.