Department: Resource Management
Staff Contact: Dianna Wright/Emily Vincent
Subject: Consideration of Master Resolution No. 20-1022 on a request by BCB Olathe Holdings LLC for issuance of industrial revenue bonds and tax phase in for multiple projects.
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Item Description:
title
Consideration of Master Resolution No. 20-1022 on a request by BCB Olathe Holdings LLC for issuance of industrial revenue bonds and tax phase in for multiple projects. Body
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Summary: The City has received a master resolution application from BCB Olathe Holdings, LLC for approximately $25,000,000 in industrial revenue bonds for the construction and development of a national headquarters facility and three front out parcels on a total of 17.3 acres.
The Master Resolution requests a 10-year, 50% tax phase-in in conjunction with the issuance of the City’s industrial revenue bonds for projects submitted under this Master Resolution.
Resolution No. 20-1022 (Attachment A) determines the intent of the City of Olathe, to issue industrial bonds up to the $25,000,000 requested amount.
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Financial Impact:
See materials attached to the Public Hearing for more detailed fiscal impact statement.
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Action Needed:
Consider approval of Resolution No. 20-1022
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Attachment(s):
Attachment A: Resolution No. 20-1022