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Commissioners approve tax-abatement enterprise agreement for 94,100-square-foot expansion
Summary
The board approved a reimbursement/enterprise agreement that would provide a 75% real-property tax abatement for a planned 94,100-square-foot expansion, with county staff describing a projected creation of 50 full-time jobs and a 10-year abatement term as shown in the applicant worksheet.
The County Board of Commissioners voted to approve a county enterprise-zone agreement that will grant a real-property tax abatement tied to a planned expansion and job-creation commitments.
County staff presented a worksheet showing the project would create "50 full time jobs" and a "94,100, square foot expansion," and that the taxable value for the project was projected at about $6,000,000. The presenter said the board was considering a "75% tax abatement" and discussed whether the abatement length was 10 or 15 years; participants agreed the spreadsheet reflected a 10-year term.
The presenter said the calculation approach used the lower-end estimate of the project's taxable real property and then applied an effective…
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