Kansas Crossing Casino reaches two agreements with City of Pittsburg
City to issue bonds for utilities and engineering, to be paid entirely by Kansas Crossing
Pittsburg, KAN – July 13, 2016 –Earlier this week in meetings with the city commission and mayor of Pittsburg, Kansas Crossing Casino reached two important agreements on the funding of $6.5 million for design and construction of utility improvements required for development of the casino site.
First, the city has agreed to issue 20-year bonds to fund these improvements, ultimately at no cost to the city. Kansas Crossing Casino has agreed to a special annual tax assessment on its property to fully reimburse the city for payments on these bonds.
Second, Kansas Crossing Casino has agreed to pay all of the city’s related costs for the utility work and bond issue including legal fees, bond consulting fees and required inspections.
“This arrangement benefits both the City of Pittsburg and Kansas Crossing Casino,” said Bruce Christenson, lead investor and spokesperson for Kansas Crossing. “We get the utilities we need and the city gets a long-term solution on extending new development further into the county.”
Utilities for the casino, such as new water and sanitary improvements, benefits the city because it extends these utilities to currently unannexed areas of the county that now can be developed and annexed in the future at no additional cost to the city or its residents, Christenson said.
Christenson expects utility improvements to be completed by the end of the year. Kansas Crossing Casino is scheduled to open in March 2017.
Visit kansascrossingcasino.com for more information.
About Kansas Crossing Casino + Hotel
The Kansas Crossing Casino + Hotel, located near the junction of U.S. Highways 69 and 400 in Crawford County, is an $80+ million development that will feature 625 slot machines, 16 gaming tables, a 123-room Hampton Inn and Suites and a 600-seat entertainment complex. The project is scheduled for completion by March 2017. For more information on the Kansas Crossing Casino + Hotel, please visit kansascrossingcasino.com.