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Guthrie council approves interlocal agreement to capture Novelis ‘Merlin’ property tax starting 2025
Summary
The Guthrie City Council unanimously approved an interlocal agreement allowing local entities to retain property tax revenue from Novelis’ new Merlin addition beginning with the 2025 assessment, contingent on bond payments remaining current.
The Guthrie City Council on Sept. 10 unanimously approved an interlocal agreement to allow local jurisdictions to keep property tax revenues tied to Novelis’ new Merlin addition beginning with the 2025 assessment, a move city leaders said will ensure the community benefits from the project if financing remains on schedule.
At the meeting, Chad Johnson moved to approve the interlocal agreement and Russ Longhurst seconded; the motion carried unanimously. Council members said the agreement will remain in effect so long as the bond payment for the project stays ahead of schedule, preserving the local share of incremental property tax revenue for participating jurisdictions.
The agreement was presented as a mechanism for distributing taxes generated by the Merlin addition to Novelis, the company adding production capacity. Council did not record additional conditions or amendments to the text during the meeting. The council accepted the motion without recorded opposition.
The council’s action is procedural: the approval authorizes local retention of tax revenue starting with the 2025 assessment cycle, subject to the timing of bond repayment. No public comment was recorded on the item during the meeting.
The council approved the interlocal agreement as part of the meeting’s new-business agenda; the clerk’s record will hold the executed agreement and related documents.
