Johnson County approves $75 million IRB and 10‑year tax abatement for New Century cold‑storage project

Johnson County commissioners voted 6‑1 on Aug. 21 to adopt Resolution 092‑25, authorizing taxable industrial revenue bonds of up to $75,000,000 to finance the construction of an industrial facility at New Century and granting a 10‑year ad valorem tax abatement on the improvements, starting at $0.46 per square foot and increasing 2 percent annually.

The action followed public comment and extended board discussion about economic development incentives and their local fiscal impacts. The resolution includes a payments‑in‑lieu‑of‑tax (PILOT) or performance agreement that county counsel said was negotiated to represent roughly 25 percent of the facility’s full tax liability during the exemption period.

Why it matters: The bond and abatement will remove the new improvements from the normal tax rolls during the exemption period and replace traditional property tax payments with negotiated PILOT payments to multiple taxing jurisdictions. Supporters said the project will generate economic activity and revenue for the airport; opponents warned incentives reduce tax revenue available for local services such as fire protection.

Most important facts first: Commissioner Allen Brand moved to adopt the resolution; Commissioner Hanslick seconded. Outside bond counsel Kevin Wimpey of Gilmore Bell told the board that Kansas statute…