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Peoria Unified board approves non-objection letter for Conair's foreign-trade-zone expansion, votes 5-0
Summary
Board voted unanimously to approve a non-objection letter supporting Conair Corporation's expansion in a foreign trade zone near Glendale Airpark; staff said the change should not lower district property-tax revenue and could generate additional taxes when improved land is developed.
The Peoria Unified School District governing board unanimously approved a motion to send a non-objection letter supporting Conair Corporation's proposed expansion in an existing foreign trade zone at the Glendale Airpark.
District staff explained the foreign-trade-zone designation and how assessed valuations change under statute: vacant land assessed at 16 percent can move to a 5 percent assessed valuation inside the zone, but improvements (including a proposed new building) could increase taxable value and generate additional revenue. "When you look at the delta between the two, it actually generates additional taxes," a district presenter said, and staff indicated they did not expect a negative impact on the district's property-tax revenue.
Board members asked about the type of expansion and were told Conair plans additional manufacturing on land the company already has set aside. A motion to approve the non-objection letter was moved and seconded and the board conducted a voice vote; the motion passed 5-0.
No further conditions were attached to the letter; the board's action was a procedural endorsement rather than a financial-commitment approval by the district.
