NOTICE OF PUBLIC HEARING
ISSUANCE OF INDUSTRIAL REVENUE BONDS
Public notice is hereby given that the City Council of the City of Olathe, Kansas (the “City”), will conduct a public hearing on Tuesday, September 4, 2018, at 7:00 p.m., or as soon thereafter as may be heard, at Olathe City Hall, 100 East Santa Fe, Olathe, Kansas, in regard to the proposed issuance by the City of its Industrial Revenue Bonds (Fremato USA, Inc. – Warehouse Project), in an approximate principal amount of $15,850,000 (the “Warehouse Bonds”), and its Industrial Revenue Bonds (Fremato USA, Inc. – Office Project), in an approximate principal amount of $8,000,000 (the “Office Bonds”) and in regard to an exemption from ad valorem taxation for property constructed or purchased with the proceeds of such bonds.
The bonds are proposed to be issued under authority of K.S.A. 121740 et seq., as amended, to provide funds for acquiring, purchasing, constructing, installing and equipping an approximately 250,000 square foot warehouse expansion and 36,000 square foot commercial office expansion to be located at approximately 16355 S. Lone Elm Road in Olathe, Kansas. The City intends to base lease the facility and further intends to lease the facility to Fremato USA, Inc., a Kansas corporation or its successors and assigns.
The applicant has requested a 10-year, 50% property tax abatement for the property constructed or purchased with the proceeds of the Warehouse Bonds. The applicant has requested a 10-year, 55% property tax abatement for the property constructed or purchased with the proceeds of the Office Bonds. These abatement requests comply with the City’s tax abatement policy.
A copy of this Notice, together with a copy of the resolutions of intent of the City to be considered for adoption, indicating the intent of the governing body of the City to issue each series of bonds and a report analyzing the costs and benefits of such property tax exemption, are on file in the office of the City Clerk and available for public inspection during normal business hours.
All persons having an interest in this matter will be given an opportunity to be heard at the time and place above specified.
Dated August 22, 2018.
City Clerk of the City of Olathe, Kansas
100 East Santa Fe
PO Box 768
Olathe, Kansas 66051-0768