Dodge City Development News

Dodge City Approves Starbond Project Plan Amendment for $20 Million in New Improvements

The Dodge City Commission approved an amendment to the Starbond Finance Project Plan for the Dodge City Starbond Project District. This amendment allows for a new star bond issuance of approximately $20 million in net bond proceeds to fund various improvements, including facade and balcony enhancements along Wyatt Earp, projection mapping exhibits, improvements for the Western Kansas Sports Museum, and the installation of a Flow Curl Wave Machine. The original star bonds issued in 2013 for $10.1 million are being paid off early, creating an opportunity for additional funding. The plan includes an expansion of the heritage area by about five acres to encompass a new boutique hotel and Spruce Street improvements. A key aspect of this new issuance is a 1.0 debt service coverage ratio, supported by an annual appropriation from the city's general fund in case of insufficient sales tax revenue, which is a deviation from the typical 1.4 coverage ratio, allowing for a substantially higher amount of star bonds for the remaining eight years of the original district's term. The project plan, prepared by Stinson and incorporating a feasibility report from Canyon, requires a two-thirds commission majority for approval. The actual bond issuance will be a separate ordinance to be presented at a later date. Additionally, the commission heard presentations on the proposed Western Kansas Sports Museum, which aims to be an interactive destination with a 4D theater, simulator room, and a conference area, and received an update on the entertainment project near the casino.