(Published in The Gardner News on June 9, 2021)
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, July 6, 2021, 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 principal amount of not to exceed $23,230,000 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 industrial facilities aggregating approximately 385,000 square feet to be generally located at the intersection of S. Fountain Drive and W. Frontier Lane within the City, all to be funded by the bonds. The City intends to base lease the facilities and further intends to lease the facilities 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 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: June 9, 2021
City Clerk of the City of Olathe, Kansas
100 East Santa Fe
PO Box 768
Olathe, Kansas 66051-0768