Goodland approves tax-abatement framework and PILOT schedule for Golden Waves bakery-grain project

The Goodland City Commission on a unanimous vote on June 1 adopted Resolution 2026-11, amending an earlier intent resolution to authorize issuance of taxable industrial revenue bonds and a partial property-tax abatement for the proposed Golden Waves bakery and grain project.

The decision followed a presentation by Gilmore & Bell counsel Kevin, who summarized a cost-benefit analysis prepared for the city. Kevin said the analysis, based on company inputs and standard economic multipliers, projected a 10-year city-level net present value of benefits that exceed public costs by roughly $2,770,000 and produced a benefits-to-costs ratio of 1.33 for the city over that period. "The present value of the net benefits to the city ... is $2,770,000," Kevin said, adding that longer-term (20-year) projections improved the ratios materially.

The resolution sets a negotiated payment-in-lieu-of-taxes (PILOT) schedule tied to a 10-year abatement window the commission authorized: under the draft terms the company would pay the equivalent of 10% of otherwise owed property taxes in years one through three, 15% in years four through six, 20% in years seven and eight and 30% in years nine and ten. Kevin said the issuance of bonds will be subject to a satisfactory tenant agreement with the project operator and that the statutory process requires both notice and a publicly available cost-benefit analysis before the governing body may grant an exemption.

Brian Lennon, identifying himself as a founder of the Golden Ways/Golden Waves project, told commissioners the company has raised about $25 million to $30 million in private equity so far and seeks to reach roughly $100 million before closing. Lennon described a roughly $225 million scope when land, building and equipment are included and said the project has a term sheet from Sunflower Bank and is seeking additional bank commitments; if financing is secured by July 1 the developer expects a groundbreaking in mid-August and production to begin in January 2028. "If we can get the funding secured by July 1 ... the plan would be that the plant would be up and running and baking bread in January of '28," Lennon said.

Commissioners asked for clarifying details about job creation, construction timing and the differences between the proposed abatement and a formal PILOT contract; counsel and staff said the final PILOT terms and the bond issuance would not be finalized until a negotiated agreement and tenant contract are executed. Kevin emphasized the analysis is forward-looking and dependent on company inputs. "These are all based on inputs from the company," he said.

The commission closed the public hearing and adopted the resolution (motion by Commissioner Redlin, second by Commissioner Artser). A roll-call recorded Artser, Clo/Chloe, Howard, Redlin and Shalter as voting 'yes.' The resolution authorizes the city to negotiate the specific PILOT agreement and to proceed with the bond issuance steps if those negotiations are satisfactory.

Next steps include finalizing the tenant/bond documents, vendor and bank financing commitments, and any required interlocal notifications. Staff also noted that additional municipal decisions (including any electric capacity or utility planning) could follow if and when the project advances.

The hearing record contains more detailed cost-benefit figures and company financing assumptions that the city indicated will remain part of the public file for the project.

The commissionvote on the resolution closes this statutory public-hearing step; further approvals and contract negotiations will precede any tax-exemption taking effect.