(First Published in the Lawrence Daily Journal- World

(First Published in the Lawrence Daily Journal- World on the 30th of December, 2025) RESOLUTION 2025-29 A RESOLUTION OF THE GOVERNING BODY OF THE CITY OF EUDORA, KANSAS DETERMINING THAT THE CITY IS CONSIDERING ESTABLISHING A REINVESTMENT HOUSING INCENTIVE DISTRICT WITHIN THE CITY AND ADOPTING A PLAN FOR THE DEVELOPMENT OF HOUSING AND PUBLIC FACILITIES IN SUCH PROPOSED DISTRICT; ESTABLISHING THE DATE AND TIME OF A PUBLIC HEARING ON SUCH MATTER, AND PROVIDING FOR THE GIVING OF NOTICE OF SUCH PUBLIC HEARING (SHADOW RIDGE NORTH reinvestment HOUSING INCENTIVE DISTRICT) WHEREAS, the Kansas Reinvestment Housing Incentive District Act, K.S.A. 12-5241 et seq. (the "Act") authorizes cities incorporated in accordance with the laws of the state of Kansas (the "State") to designate reinvestment housing incentive districts within such city; and WHEREAS, the City of Eudora, Kansas (the "City") constitutes a city as said term is defined in the Act; and WHEREAS, a housing needs analysis dated October 23, 2023 (the "Analysis") has been performed with regard to the City, a copy of which is on file in the office of the City Clerk; and WHEREAS, Resolution No. 2023-15 adopted by the City Commission (the "Governing Body") made certain findings relating to the need for financial incentives for the construction of quality housing within the City, declared it advisable to establish a reinvestment housing incentive district pursuant to the Act, and authorized the submission of such Resolution and the Analysis to the Kansas Department of Commerce in accordance with the Act; and WHEREAS, the Secretary of the Kansas Department of Commerce, pursuant to a letter dated November 6, 2023, authorized the City to proceed with the establishment of a reinvestment housing incentive district pursuant to the Act; and WHEREAS, the City has caused to be prepared a plan (the "Plan") for the development or redevelopment of housing and public facilities in the proposed Shadow Ridge North Reinvestment Housing Incentive District (the "District") in accordance with the provisions of the Act; and WHEREAS, the Plan includes: 1. The legal description and map required by K.S.A. 12-5244(a); 2. The existing assessed valuation of the real estate in the proposed District listing the land and improvement values separately; 3. A list of the names and addresses of the owners of record of all real estate parcels within the proposed District; 4. A description of the housing and public facilities project or projects that are proposed to be constructed or improved in the proposed District, and the location thereof; 5. A listing of the names, addresses and specific interests in real estate in the proposed District of the developers responsible for development of the housing and public facilities in the proposed District; 6. The contractual assurances, if any, the Governing Body has received from such developer or developers, guaranteeing the financial feasibility of specific housing tax incentive projects in the proposed District; 7. A comprehensive analysis of the feasibility of providing housing tax incentives in the proposed District as provided in the Act, which shows that the public benefits derived from such District will exceed the costs and that the income therefrom, together with all public and private sources of funding, will be sufficient to pay for the public improvements that may be undertaken in the District. WHEREAS, the Governing Body proposes to continue proceedings necessary to create the District and adopt the Plan by the calling of a public hearing on such matters in accordance with the provisions of the Act. THERFORE BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF EUDORA, KANSAS AS FOLLOWS: Section 1. Proposed Reinvestment Housing Incentive District. The Governing Body hereby declares an intent to consider establishing the District. The District is proposed to be formed within the boundaries of the real estate legally described in Exhibit A attached hereto, and shown on the map depicting the existing parcel of land attached hereto as Exhibit B . A list of the names and addresses of the owners of record of all real estate parcels within the proposed District and the existing assessed valuation of said real estate, listing the land and improvement values separately, is attached hereto as Exhibit C . Section 2. Proposed Plan. The Governing Body hereby further declares its intent to adopt the Plan in substantially the form presented to the Governing Body on this date, with such changes or supplements as may be approved by the City. A copy of the Plan shall be filed in the office of the City Clerk and be available for public inspection during normal business hours. A description of the housing and public facilities projects that are proposed to be constructed or improved in the proposed District, and the location thereof are described in Exhibit D attached hereto. A summary of the contractual assurances by the developer and the comprehensive feasibility analysis is contained in Exhibit E attached hereto. Section 3. Public Hearing. Notice is hereby given that a public hearing will be held by the Governing Body of the City to consider the establishment of the District and adoption of the Plan on January 12, 2026 at City Hall, located at 4 East 7th St., Eudora, Kansas 66025; the public hearing to commence at 7:00 p.m. or as soon thereafter as the Governing Body can hear the matter. At the public hearing, the Governing Body will receive public comment on such matters, and may, after the conclusion of such public hearing, consider the findings necessary for establishment of the District and adoption of the Plan, all pursuant to the Act. Section 4. Notice of Public Hearing. The City Clerk is hereby authorized and directed to provide for notice of the public hearing by taking the following actions; A. A certified copy of this Resolution shall be delivered to: i. The Board of County Commissioners of Douglas County, Kansas; ii. The Board of Education of Unified School District No. 491, Douglas County, Kansas (Eudora); and iii. The Planning Commission of the City of Eudora, Kansas. B. This Resolution, including Exhibits A through E attached hereto, shall be published at least once in the official newspaper of the City not less than one week or more than two weeks preceding the date of the public hearing. C. This Resolution, including Exhibits A through E attached hereto, is available for inspection at the office of the clerk of the City at normal business hours. Members of the public are invited to review the plan and attend the public hearing on the date announced in this Resolution. Section 5. Further Action. The Mayor, City Manager, City Clerk and the officials and employees of the City, including the City Attorney and Gilmore & Bell, P.C., as counsel to the City, are hereby further authorized and directed to take such other actions as may be appropriate or desirable to accomplish the purposes of this Resolution. Section 6. Effective Date. This Resolution shall take effect after its adoption by the Governing Body. [BALANCE OF THIS PAGE INTENTIONALLY LEFT BLANK] ADOPTED by the Governing Body of the City of Eudora, Kansas on December 8, 2025. [SEAL] /s/ Tim Reazin Tim Reazin, Mayor ATTEST: /s/ Kelly Delay Kelly Delay, City Clerk EXHIBIT A LEGAL DESCRIPTION OF PROPOSED SHADOW RIDGE NORTH REINVESTMENT HOUSING INCENTIVE DISTRICT A TRACT OF LAND IN THE NORTHEAST QUARTER OF SECTION 17, TOWNSHIP 13 SOUTH, RANGE 21 EAST OF THE 6TH P.M., DOUGLAS COUNTY, KANSAS, MORE PARTICULARLY DESCRIBED BY JESSE A. NOLL, PS-1711, ON JANUARY 29, 2025, BY METES AND BOUNDS AS FOLLOWS: BEGINNING AT THE NORTHWEST CORNER OF SAID NORTHEAST QUARTER; THENCE NORTH 88 DEGREES 11 MINUTES 12 SECONDS EAST, ALONG THE NORTH LINE OF SAID NORTHEAST QUARTER , A DISTANCE OF 80.00 FEET; THENCE SOUTH 01 DEGREE 53 MINUTES 19 SECONDS EAST, PARALLEL WITH THE WEST LINE OF SAID NORTHEAST QUARTER, A DISTANCE OF 1,326.45 FEET TO THE NORTH LINE OF THE SOUTHWEST QUARTER OF SAID NORTHEAST QUARTER; THENCE NORTH 88 DEGREES 07 MINUTES 31 SECONDS EAST, ALONG SAID NORTH LINE, A DISTANCE OF 1,235.08 FEET TO THE NORTHEAST CORNER OF SAID SOUTHWEST QUARTER AND THE WEST LINE OF EUDORA HIGH SCHOOL, 1ST PLAT, RECORDED IN PLAT BOOK 17, PAGE 696 AT THE DOUGLAS COUNTY REGISTER OF DEEDS OFFICE; THENCE SOUTH 02 DEGREES 03 MINUTES 45 SECONDS EAST, ALONG LINE, A DISTANCE OF 1,325.14 FEET TO THE SOUTHEAST CORNER OF SAID SOUTHWEST QUARTER, THENCE SOUTH 88 DEGREES 03 MINUTES 51 SECONDS WEST, ALONG THE SOUTH LINE OF SAID SOUTHWEST QUARTER; A DISTANCE OF 1,319.10 FEET TO THE SOUTHWEST CORNER OF SAID SOUTHWEST QUARTER; THENCE NORTH 01 DEGREE 53 MINUTES 19 SECONDS WEST, ALONG THE WEST LINE OF SAID NORTHEAST QUARTER, A DISTANCE OF 2,653.08 FEET TO THE NORTHWEST CORNER OF SAID NORTHEAST QUARTER AND THE POINT OF BEGINNING. THE ABOVE CONTAINS 1,852,368 SQUARE FEET, MORE OR LESS, OR 42.52 ACRES, MORE OR LESS, AND IS SUBJECT TO ANY AND ALL RIGHTS OF WAY, EASEMENTS AND ENCUMBRANCES, IF ANY. EXHIBIT B MAP OF PROPOSED SHADOW RIDGE NORTH REINVESTMENT HOUSING INCENTIVE DISTRICT EXHIBIT C NAMES AND ADDRESSES OF THE OWNERS OF RECORD OF ALL REAL ESTATE PARCELS WITHIN THE PROPOSED SHADOW RIDGE NORTH REINVESTMENT HOUSING INCENTIVE DISTRICT AND THE EXISTING ASSESSED VALUATION OF SAID REAL ESTATE PARCELS AND NAMES AND ADDRESSES OF THE DEVELOPERS Owners of Real Property: SRN LAND, LLC P.O. Box 3789 Lawrence, Kansas 66046 Developer: SRN LAND, LLC or its assigns P.O. Box 3789 Lawrence, Kansas 66046 Individuals with specific interest: SRN LAND, LLC, has purchased and solely holds the real estate proposed to be within the boundaries of the District. Existing Assessed Valuation Land: $13,410 of the District: Improvements: $0 EXHIBIT D DESCRIPTION OF THE HOUSING AND PUBLIC FACILITIES PROJECT OR PROJECTS THAT ARE PROPOSED TO BE CONSTRUCTED OR IMPROVED IN THE PROPOSED SHADOW RIDGE NORTH REINVESTMENT HOUSING INCENTIVE DISTRIC The housing and public facility project will include the construction and extension of certain infrastructure and utility improvements needed to develop a single-family residential development within the District, which is currently anticipated to include approximately 146 single-family homes. The infrastructure and utility improvements constructed within the boundaries of the District are anticipated to include, but not be limited to the following: Site preparation, construction of streets and roadways, grading, paving, curbing, guttering, and surfacing, sidewalk, parking, water mains and extensions, sanitary sewer, storm sewer, detention basins, gas, electric improvements, signage, erosion control, right-of-way improvements, and other related infrastructure, utility improvements and related expenses. Infrastructure improvements may be constructed prior to or concurrently with the housing facilities in the project. EXHIBIT E SUMMARY OF THE CONTRACTUAL ASSURANCES BY THE DEVELOPER AND OF THE COMPREHENSIVE FEASIBILITY ANALYSIS Contractual Assurances The Governing Body expects to enter into a Development Agreement (the "Development Agreement") with SRN LAND, LLC, a Kansas limited liability company (the "Developer"). The Development Agreement will include the project construction schedule, a description of projects to be constructed, financial obligations of the developer, and administrative support from the City. The Development Agreement will include contractual assurances, if any, the Governing Body has received from the Developer guaranteeing the financial feasibility of specific housing tax incentive projects in the proposed district. Feasibility Study The Developer has conducted a study to determine whether the public benefits derived from the District will exceed the costs and that the income from the District, together with other sources of revenue provided by the developer, would be sufficient to pay for the public improvements to be unde1iaken in the District. The analysis estimates the property tax revenues that will be generated from the development of the District, less existing property taxes and certain unavailable property tax revenues to determine the revenue stream available to suppo1i the costs of the public infrastructure. The estimates indicate that the revenue realized from the project together with other sources of Developer funds would be adequate to pay the eligible costs.