City commission questions involvement with Stadium Place Apartments
Published on -4/29/2011, 9:59 AM
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By KALEY CONNER
Commerce Bank has filed a petition in Ellis County District Court asking for the foreclosure of Stadium Place Apartments on the Fort Hays State University campus.
Because the project was funded with $5.5 million in industrial revenue bonds approved by the city, Hays city commissioners at Thursday's meeting asked how the city could be affected by the process.
"There's no recourse on the city whatsoever," City Manager Toby Dougherty said. "It cannot hurt our bond rating, our ability to issue revenue bonds, (general obligation) bonds, anything like that."
The city is listed as a defendant in the lawsuit, and City Attorney John Bird said he is monitoring the situation to "make sure everything happens
the way it's supposed to."
A representative with the city's bond counsel will discuss the matter in further detail at a future work session, Dougherty said.
The residential complex was constructed by Uniplace LLC, and the endeavor was headed by Brooks Kellogg.
"This is simply between the borrower and the institution," Commissioner Henry Schwaller IV said. "It is common wisdom that if a community accumulates a number of these, it doesn't look favorably on a community, but this should not matter."
In other business:
* A vacation of a drainage easement in the Tallgrass Addition was approved.
* Mayor Barbara Wasinger was absent.








