(Published in The Gardner News on April 8, 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, April 21, 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 (Lineage Logistics, LLC Project), in the aggregate principal amount of not to exceed $110,400,000 (the “Bonds”) and in regard to an exemption from ad valorem taxation for property constructed or purchased with the proceeds of the Bonds. In an effort to follow social distancing guidelines during the COVID-19 pandemic, the public hearing will also be conducted virtually. Members of the public are encouraged to watch the meeting live online at olatheks.org/OGN, or at their own convenience once the meeting video is archived within hours of its conclusion. The public may participate during the public hearing via virtual meeting. A link to the virtual meeting will be provided on the April 21, 2020 City Council meeting agenda, which may be accessed at olatheks.org. The public may also submit written comments in advance of the public hearing via email to [email protected]
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 an approximately 400,000 square foot warehouse and office facility to be located generally northwest of W. 167th Street and Lone Elm Road in Olathe, Kansas. The City intends to base lease the facility and further intends to lease the facility to Lineage Logistics, LLC, a Delaware limited liability company.
The applicant has requested a 10-year, approximately 50% property tax abatement for the 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 resolution 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: April 8, 2020
City Clerk of the City of Olathe, Kansas
100 East Santa Fe
PO Box 768
Olathe, Kansas 66051-0768