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Council approves extension for Masaba sales-tax rebate window until Sept. 30
Summary
The council approved a staff-recommended extension of the Masaba sales-tax rebate agreement end date from June 30 to Sept. 30, 2025, after Masaba cited equipment delivery and installation delays; no rebate invoices have been submitted to date and the company has not yet conveyed the agreed 1-acre lot.
The Vermillion City Council voted Jun. 16 to approve a request extending the end date of a sales-tax rebate (development program reinvestment) agreement with Masaba from June 30, 2025, to Sept. 30, 2025.
City staff and a Masaba representative told the council the extension was requested because of production and shipping delays on capital equipment and installation backlogs. Kevin Paraxos, identified in the meeting as Masaba's chief financial officer, said some equipment deliveries were delayed by roughly 12 weeks and installation by an additional four weeks; several final components had been stuck in port and only recently arrived. Masaba has not…
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