JUNCTION CITY, Kan. (WIBW) -- City commissioners in Junction City have approved $3.66 million in bonds to help fund a brand new facility for a local car dealer.
Dick Edwards is planning to build a new 50,000 square foot dealership on Golden Belt Boulevard in Junction City near the intersection of US-77 and Interstate 70.
The city commission approved an ordinance Tuesday night to issue tax incremental financing bonds to help with the infrastructure costs for the facility.
The dealership must provide a construction schedule for the project and site plan as well as financing and project costs before the development agreement can be finalized. Once those conditions are met, then the city can publish the ordinance and approve the bond money.
Dick Edwards plans to keep their Grant Avenue location open with a body shop, Quick Lane (oil and lube change) and used car sales.
The Ford, KIA and Chrysler lines will be located at the new facility once construction is complete.
Edwards will invest more than $7 million in the project.
The TIF bonds will be paid back through the generation of sales tax and real estate tax.