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Council defers vote on Lang Gen Y’s sales-tax exemption request after ROI and jobs questions
Summary
Councilmembers asked for more financial detail after hearing that the company sought only a sales-tax exemption for the $3 million renovation of a former call center; the council voted 7-0 to defer final action to the April 22 meeting so members can review property-tax and ROI estimates.
The City Council delayed action on a city-requested letter of intent to issue industrial revenue bonds for Lang Gen Y LLC’s plan to renovate the former Royal Caribbean call-center building into company headquarters, citing questions about job creation, return on investment and the impact on other taxing jurisdictions.
Assistant City Manager Troy Anderson said Lang requested revenue bonds in the amount of about $3,000,000 to finance renovations; the…
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