The Unified Government Commission tonight moved forward development projects totaling about $60 million in eight minutes, averaging about $7.5 million a minute.
The commission voted on the three development items together, passing them unanimously 10-0, and also approved some Land Bank items unanimously.
There was no discussion on the developments tonight. There had been previous discussion of the projects in earlier UG regular meetings and standing committee meetings.
The Dairy Farmers of America project was requesting a resolution of intent to issue IRBs, according to agenda information. It is a $30 million capital investment that includes a 100,000-square-foot or more office building, 300-plus jobs with an average salary of $90,000, and a 20-year commitment to the site, which includes 12 acres. On Feb. 26, the UG Commission authorized the county administrator to make a development agreement with DFA.
The agenda stated that at a future date, an ordinance authorizing the issuance of IRBs will be required, along with a public hearing to consider the payment in lieu of taxes, tax abatement.
The resolution of intent to issue up to $18 million in industrial revenue bonds for the NPIF2 Kansas Avenue project at 5100 Kansas Avenue was approved April 30, according to agenda documents. On tonight’s agenda was an ordinance authorizing the IRBs.
The developer is ready to start construction on the Kansas Avenue commercial redevelopment project, according to UG agenda information.
Premier Automotive near The Legends area has submitted an IRB application for $12 million to finance the construction of three new auto dealerships in The Legends Auto Plaza area, according to agenda information. The UG Commission was asked for its approval.
In February, the UG Commission adopted a master resolution of intent to issue IRBs for this area, the amended Vacation Village District. The resolution gave the developer, SVVI LLC, the right to assign a portion of the benefits under the resolution to another entity with the approval of the UG, according to agenda information.
There will be no property tax abatement with this auto plaza project, the agenda information stated.