City Council approves funding mechanism for Wichita State’s innovation campus

The Wichita City Council has approved a funding mechanism for Wichita State to begin construction on its proposed innovation campus.

The decision comes a week after the Sedgwick County commission also approved using an existing WSU mill levy for the campus. Both governments have say over how the funds are used.

Currently, a 1.5 mill levy raises about $6.2 million annually from property taxes, which historically has been used for scholarships.

Council member Janet Miller asked Wichita State President John Bardo whether scholarship funding would be affected by the change, and he told her it would not.

Bardo told the council that construction of the $43 million Experiential Building could start at the beginning of next year with the funding.

The Experiential Building is the first of a multimillion-dollar, 20-year plan. It would provide labs, offices and high-tech equipment for entrepreneurs, students and researchers.

Up to $72 million in bonds could be issued to finance several components at the campus, according to city documents.

The bonds would fund:

The demolition of Wheatshocker apartments and construction on that site of the university’s Experiential Engineering Building

Construction of a part of the first partnership building, though a business partner has not yet been named publicly

Road and parking lot improvements

Addition to the Woodman Alumni Center

Contingency, capitalized interest, reserves and transaction costs

Other parts of the innovation campus plan at Wichita State include a new business school and innovation building for $70 million.

Eventually, the university plans to build mixed-use buildings for restaurants, residence halls, apartments, a parking garage and walking paths, some with the help of the private sector.

The innovation campus is being planned on land that has previously served as the university’s golf course.

City officials have also discussed that some of the proposed sales tax on the November ballot – which would increase sales tax by 1 cent for every dollar – could be used to pay for infrastructure at the WSU innovation campus.

The proposal would raise nearly $400 million over five years for water, street maintenance, transit and job development, which is the component that could include the infrastructure at WSU.

This story was originally published September 9, 2014 at 12:30 PM with the headline "City Council approves funding mechanism for Wichita State’s innovation campus."