FOCUS AREA: Economy
Staff Contact: Jamie Robichaud/John Page
Subject: Consideration of Resolution No. 24-1060 expressing the intent to issue industrial revenue bonds on behalf of Cedar Creek Development VIII, LLC for a 32,931 square foot service center on 8.1 acres at Cedar Creek Corporate Park (Sales Tax Exemption Only).
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Consideration of Resolution No. 24-1060 expressing the intent to issue industrial revenue bonds on behalf of Cedar Creek Development VIII, LLC for a 32,931 square foot service center on 8.1 acres at Cedar Creek Corporate Park (Sales Tax Exemption Only).
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Summary:
The City has received a request from Cedar Creek Development VIII, LLC for $15,355,272 in industrial revenue bonds to finance the cost of acquiring, constructing, and equipping an approximately 32,931 square foot commercial facility at Cedar Creek Corporate Park.
This project is for the expansion of the Atmos Energy regional headquarters with the construction of a service center across the street from their current facility.
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. 24-1060 expressing the intent to issue industrial revenue bons on behalf of Cedar Creek Development VIII, LLC.
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Attachment(s):
A: Application
B: Resolution No. 24-1060