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Commissioners authorize taxable IRBs, 10‑year PILOT for New Century industrial facility
Summary
The board adopted Resolution No. 124‑25 on Oct. 9 to issue taxable industrial revenue bonds up to $25.3 million and grant a 10‑year ad valorem abatement using a payment‑in‑lieu‑of‑taxes set at $0.30 per square foot escalating 1.5% annually; the vote was 7‑0. Public comment raised concerns about employee commitments and scale of tax incentives.
The Johnson County Board of County Commissioners on Oct. 9 adopted Resolution No. 124‑25 authorizing the issuance of taxable industrial revenue bonds (IRBs), Series 2025, with principal not to exceed $25,300,000 to finance construction of an industrial facility at New Century Airport. The resolution also grants a 10‑year ad valorem tax abatement on the constructed improvements tied to a payment‑in‑lieu‑of‑taxes (PILOT) that starts at $0.30 per square foot and escalates 1.5% annually; the motion passed 7‑0.
"But for this project, this property would just be fallow, and it would continue to produce no property taxes," said Commissioner Hanslick in support of the resolution, citing the county’s prior master…
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