(Published in The Gardner News on March 4, 2020)
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, March 17, 2020, 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 in the aggregate approximate principal amount of $25,000,000 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. 12‑1740 et seq., as amended, to provide funds for acquiring, purchasing, constructing, installing and equipping one or more commercial facilities to be generally located at 11730 Kansas City Road within the City, including an approximately 70,000 square foot office and warehouse facility to be funded by a portion of the bonds in an approximate amount of $10,200,000. The City intends to base lease the facility and further intends to lease the facility to BCB Olathe Holdings LLC, a Kansas limited liability company, or its successors and assigns.
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 copies 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: March 4, 2020
City Clerk of the City of Olathe, Kansas
100 East Santa Fe
PO Box 768
Olathe, Kansas 66051-0768