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EDA reviews Industrial Revenue Bond revisions and regional tax comparisons
Summary
Chairman Hayden said revisions to the Industrial Revenue Bond application are ongoing and staff are comparing tax rates with nearby localities; Armon Smith provided a spreadsheet to support the comparison.
Chairman Trey Hayden told members that, as part of revisions to the Industrial Revenue Bond application, staff are examining tax-rate comparisons with other localities. Deputy Director Armon Smith provided a spreadsheet showing those regional tax-rate comparisons to inform the current application revisions.
Board members asked questions and suggested edits to an engagement letter from the Authority's law firm, Kaufman & Canoles; Hayden said he will reach out to the firm for clarification on several matters related to the legal engagement and application revisions.
