Focus Area: Economy
Staff Contact: Jamie Robichaud / John Page
Subject: Consideration of Resolution No. 24-1050 expressing the intent to issue industrial revenue bonds on behalf of Rosebud Partners, LLC at the northeast corner of Santa Fe Street and Mur-Len Road (Sales Tax Exemption Only).
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TITLE:
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Consideration of Resolution No. 24-1050 expressing the intent to issue industrial revenue bonds on behalf of Rosebud Partners, LLC at the northeast corner of Santa Fe Street and Mur-Len Road (Sales Tax Exemption Only).
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Summary:
The City has received a request from Rosebud Partners, LLC for $8,000,000 in industrial revenue bonds to finance the cost of acquiring, constructing, equipping, and improving a shopping center at the northeast corner of Santa Fe Street and Mur-Len Road.
The bonds will be issued to obtain a sales tax exemption on construction materials used for the project.
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Financial Impact:
All costs related to the issuance of the Bonds will be paid by the Applicant.
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Action Needed:
Approve Resolution No. 24-1050 expressing the intent to issue industrial revenue bonds on behalf of Rosebud Partners, LLC.
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Attachment(s):
A. Resolution No. 24-1050