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Hutchinson council backs $6 million industrial revenue bond advisability for Prairie Land Partners expansion
Summary
The Hutchinson City Council voted to find it advisable to issue up to $6 million in taxable industrial revenue bonds to support Prairie Land Partners' expansion of a commercial fill facility at 1800 South Lorraine, and authorized the mayor to sign related documents.
Angela Richard, Hutchinson's director of finance, told the City Council during a public hearing that Prairie Land Partners plans to expand a commercial fill facility at 1800 South Lorraine by about 32,000 square feet and has requested taxable industrial revenue bonds (IRBs) estimated at $6,000,000 and a 10-year property tax abatement.
Richard said the property was recently annexed into the city and that the packet included a cost‑benefit analysis showing the city's benefit-cost ratio at 1.63, meaning the…
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