Wichita city council members heard information Tuesday on a new tenant for the former Gander Mountain building in the downtown Waterwalk development, but a vote on the lease was delayed until next week.
City attorney Jennifer Magana told the council that there are still details to be finalized on the lease agreement.
King of Freight is expanding its operations in Wichita, and it plans to use the building as its primary headquarters. The company has 535 employees and has promised to hire another 400 over the next five years, at an average salary of $50,000. The jobs must be maintained for at least ten years under the agreement.
There is no financial cost to the city, and Magana said the 400 jobs would bring about $1 million in new tax revenue. There would also be revenue from employee parking that would generate about $70,000 a year, with King of Freight paying about $15 per space each month.
The lease agreement will be back on the agenda for the city council at its next meeting on May 21st.
