(Published in The Gardner News on May 22, 2019)
NOTICE OF PUBLIC HEARING ON 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, June 4, 2019, 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 one or more series of its Industrial Revenue Bonds (JDC North Olathe Properties, L.L.C. Project), in the aggregate approximate principal amount of $42,000,000 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 one or more industrial, warehouse, or manufacturing facilities to be located generally at the intersection of Dennis Avenue and proposed Pine Street within the City, including an approximately 21,400 square foot industrial warehouse building to be funded by a portion of the bonds in an approximate amount of $3,000,000 (the “Bonds”). The City intends to base lease the facility and further intends to lease the facility to HP Distribution, LLC, a Kansas limited liability company.
The applicant has requested a 10-year, approximately 50% property tax abatement for each facility 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 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 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: May 22, 2019
City Clerk of the City of Olathe, Kansas
100 East Santa Fe
PO Box 768
Olathe, Kansas 66051-0768