Johnson County to consider $75 million IRBs, 10‑year PILOT for cold storage at New Century

Johnson County Airport staff presented Resolution No. 092‑25 on Aug. 14 to authorize the issuance of taxable industrial revenue bonds (IRBs) not to exceed $75 million to finance construction of a cold‑storage industrial facility at New Century (the project commonly described as Yukon/CJ Logistics and serving Flora Food Group). Staff also proposed a 10‑year ad valorem tax abatement on improvements beginning at $0.46 per square foot escalating 2% annually, and entering a PILOT agreement tied to the bond issuance. Bridal Johnson, described in the briefing as the airport executive director, told commissioners the project is on previously approved airport incentive policy stemming from 2020 and a resolution of intent adopted in November 2023. Staff described Phase 1 as complete, noted continuing phases (including an overhead conveyor in Phase 3 connecting facilities), and said the 36‑acre development responds to regional demand for cold storage and supply‑chain logistics. Staff said the private investment would be approximately $75 million and yield about 143 new jobs; rail service and lease revenue are expected to produce airport revenue. Commissioners asked technical and site‑layout questions. Commissioner Brewer and others praised the airport’s incentive program and asked about nearby buildings and planned conveyor connections; staff explained the adjacency to Amazon and Flora Food Group and the planned conveyor across airport rail lines. Commissioner Ashcraft asked for follow‑up on financing details prior to the Aug. 21 public hearing. The board previously approved a resolution of intent in November 2023; staff recommended a public hearing and formal action on the Aug. 21 agenda to authorize the bond issuance and related PILOT documents. No formal board action was taken at the Aug. 14 agenda review.