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Aldermen give first reading to amended Chapter 100 plan for Butterfly Palace expansion
Summary
The board approved first reading of an amended Chapter 100 industrial development plan for the Butterfly Palace expansion, correcting math errors from a prior plan and authorizing bond counsel engagement for potential industrial revenue bonds.
The Board of Aldermen gave first reading to Bill 65‑54, an amended and restated Chapter 100 plan related to the Butterfly Palace expansion project.
Lindsey, presenting the staff report, told the board the amended plan corrects “a few math errors” from the earlier plan and that there were no major changes to the substance of the proposal. The ordinance authorizes the city to engage bond counsel and take actions necessary to issue industrial revenue bonds and authorizes the mayor to execute an addendum to the development agreement for the expansion project.
After the staff report there were no questions from aldermen or the public and the aldermen voted by voice to approve the first reading.
The amended plan will return for subsequent readings and for any required actions related to bond issuance and execution of development‑agreement addenda.
