City of Edgerton
Public notice is hereby given that the Governing Body of the City of Edgerton, Kansas (the “City”), will conduct a public hearing at 7 p.m. Thursday, July 8, 2010, or as soon thereafter as may be heard, at the Edgerton Community Building, 404 E. Nelson St., Edgerton, Kansas, in regard to the proposed issuance by the City of its Industrial Revenue Bonds in multiple series, the maximum aggregate principal amount of all series not to exceed $500,000,000 (the “Bonds”) and in regard to an exemption from ad valorem taxation for property constructed or purchased with the proceeds of the Bonds.
The Bonds are proposed to be issued in multiple series under authority of K.S.A. 12 1740 et seq., as amended, to provide funds for acquiring, constructing and equipping a logistics park (the “Logistics Park”) adjacent to the planned BNSF Railway Company intermodal project. The Logistics Park will consist of numerous distribution, warehouse and office facilities built in multiple phases over approximately ten years. The Logistics Park will be located on approximately 560 acres of land surrounded by 191st Street to the south, Waverly Road to the east, and US-56 Highway to the west, and a parcel of land located on the northeast corner of 183rd Street and Waverly Road. The City intends to own each building in the Logistics Park and further intends to lease each building to various entities.
The applicant, the Allen Group-Kansas City, LLC, has requested a 10-year, 75 percent property tax abatement for the property constructed or purchased with the proceeds of each series of the Bonds. It is anticipated that a separate series of the Bonds will be issued for each building constructed in the Logistics Park, and that each building will receive a separate 10-year, 75 percent property tax abatement.