NOTICE OF PUBLIC HEARING

AND OF

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, December 17, 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 its Industrial Revenue Bonds (Eymann Development, Inc. Project), in an approximate principal amount of $4,266,000 (the “Bonds”) 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 an approximately 18,250 square foot office facility to be located approximately north of 103rd Street and Hollis Lane in the Cedar Creek office development in Olathe, Kansas. The City intends to base lease the facility and further intends to lease the facility to Eymann Development, Inc., a Kansas corporation, or its successors and assigns.

 

The applicant has requested a 10-year, approximately 55% 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 copies of the resolution of intent of the City adopted prior to May 1, 2017, 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 December 4, 2019.

 

Emily K. Vincent

City Clerk of the City of Olathe, Kansas

100 East Santa Fe

Olathe, Kansas 66061