(Published in the Gardner News on April 27, 2022)
NOTICE OF PUBLIC HEARING ON ISSUANCE OF INDUSTRIAL REVENUE BONDS
Public notice is hereby given that the governing body of the City of Olathe, Kansas (the “City”), will conduct a public hearing on Tuesday, May 17, 2022 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 in a principal amount of not to exceed $24,983,762 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. A portion of the bonds in an amount not to exceed $11,899,766 will provide funds for acquiring, purchasing, constructing, installing and equipping an approximately 134,643 square foot industrial building to be located approximately on 9.4 acres northwest of Monticello and 167th Street within the City of Olathe. A portion of the bonds in an amount not to exceed $13,083,996 will provide funds for acquiring, purchasing, constructing, installing and equipping an approximately 147,955 square foot industrial building to be located approximately on 10.41 acres northwest of Monticello and 167th Street within the City of Olathe. The City intends to base lease the facility and further intends to lease the facility to 167th Street Land, LLC, a Kansas limited liability company, 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 a copy of the resolution of intent to be considered by the City 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 27, 2022.
City Clerk of the City of Olathe, Kansas
100 East Santa Fe
Olathe, Kansas 66061