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Council to send lease-amendment ordinance for AZZ Precoat Metals tax-abatement transfer to full council
Summary
Councilmembers voted at the workshop to advance an ordinance that would amend the Chapter 100 lease for AZZ Precoat Metals, allowing the company to transfer facility and equipment ownership to the city to complete a tax-abatement step.
The city will forward an ordinance to a full council meeting to approve an amendment to the lease agreement with AZZ Precoat Metals that sets deadlines and documentation requirements for transferring ownership of certain facility and equipment as part of the Chapter 100 industrial revenue bond tax-abatement process, council members agreed May 5.
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