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Hutchinson Council OKs resolution for SDI industrial revenue bonds after public hearing
Summary
After a public hearing, the Hutchinson City Council approved a resolution finding advisable the issuance of taxable industrial revenue bonds for Sales Data Inc. (SDI) to support a 101,754 sq ft expansion; finance staff said the $2 million IRB and a 10-year abatement were supported by a cost‑benefit analysis showing payback within four years.
HUTCHINSON, Kan. — The Hutchinson City Council on Feb. 3 approved a resolution determining the advisability of issuing taxable industrial revenue bonds for Sales Data Inc., after a public hearing in which staff described the project and residents questioned the use of public financing.
Angela Richard, the city’s director of finance, told the council the proposed IRB would support the construction, furnishing and equipping of a 101,754-square-foot expansion. She said the estimated IRB amount is $2,000,000 and SDI has requested a 10‑year property‑tax abatement. Richard added that because the…
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