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, October 2, 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 (I-35 Logistics Park Building A Project), in an approximate principal amount of $63,537,280 (the “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 1,168,150 square foot bulk distribution facility to be located at approximately 155th Street & Old Highway 56 in the I-35 Logistics Park in Olathe, Kansas. The City intends to base lease the facility and further intends to lease the facility to Sun Life Assurance Company of Canada, a Canadian corporation or its successors and assigns.
The applicant has requested a 10-year approximately 50% property tax abatement for the property constructed or purchased with the proceeds of the Bonds. This abatement request complies with the City’s tax abatement policy.
A copy of this Notice, together with copies of the resolutions of intent of the City adopted prior to May 1, 2017, indicating the intent of the governing body of the City to issue the 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 September 19, 2018.
Emily K. Vincent
City Clerk of the City of Olathe, Kansas
100 East Santa Fe
Olathe, Kansas 66061