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Board reviews proposed IRB issuance and 10‑year payment‑in‑lieu schedule for New Century industrial facility
Summary
Johnson County staff on Oct. 2 discussed a proposed resolution (No. 124‑25) to authorize taxable industrial revenue bonds (IRBs) up to $25,300,000 to finance construction of an industrial facility at New Century and to grant a 10‑year payment‑in‑lieu‑of‑tax schedule.
Johnson County staff on Oct. 2 discussed a proposed resolution (No. 124‑25) to authorize taxable industrial revenue bonds (IRBs) up to $25,300,000 to finance construction of an industrial facility at New Century and to grant a 10‑year ad valorem tax abatement on improvements under a payment‑in‑lieu‑of‑tax (PILOT) schedule.
Why it matters: The county said IRBs are an economic-development tool the airport and county use to attract development while pursuing airport financial self‑sufficiency.…
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