Department: Resource Management
Staff Contact: Dianna Wright/Emily Vincent
Subject: Consideration of Resolution No. 20-1029 on a request by Lineage Logistics, LLC for issuance of industrial revenue bonds and tax phase in for the development of a 400,000 sq. ft. warehouse facility to be located at Lone Elm Commerce Center northwest of W. 167th St. and Lone Elm Rd.
________________________________________________________________________________
Item Description:
title
Consideration of Resolution No. 20-1029 on a request by Lineage Logistics, LLC for issuance of industrial revenue bonds and tax phase in for the development of a 400,000 sq. ft. warehouse facility to be located at Lone Elm Commerce Center northwest of W. 167th St. and Lone Elm Rd.
________________________________________________________________________________
Summary: The City has received a request from Lineage Logistics, LLC for approximately $110,400,000 in industrial revenue bonds for the development of a 400,000 sq. ft. refrigerated warehouse facility located on 60.44+/- acres northwest of 167th Street & Lone Elm Road in the Lone Elm Commerce Center.
The applicant requests a 10-year, 50% tax phase-in in conjunction with the issuance of the City’s industrial revenue bonds for projects.
Resolution No. 20-1029 (Attachment A) determines the intent of the City of Olathe, to issue industrial bonds up to the $110,400,000 requested amount.
_____________________________________________________________________________
Financial Impact:
See materials attached to the Public Hearing for more detailed fiscal impact statement.
________________________________________________________________________________
Action Needed:
Consider approval of Resolution No. 20-1029
________________________________________________________________________________
Attachment(s):
Attachment A: Resolution No. 20-1029