GOV
Ordinance 71956
The industrial Development Revenue Bonds
Summary
This Board Bill authorizes the City to enter into an industrial development revenue bond transaction to facilitate personal property tax exemption on Project Equipment and sales and use tax exemption on construction materials used to construct and equip a development project consisting of an approximately 70,000-square-foot lab and office facility to be located at 4140 Forest Park Avenue in the City. The industrial development revenue bonds authorized by this Board Bill will be secured solely by lease payments made by the company. The bonds do not constitute a debt of the City and are not payable from any City tax revenues.
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Overview
Legislative History
Legislative activities and outcomes for this board bill. Learn more about what these activities mean.
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11/22/2024
First Reading
Bill text was introduced (1.89 MB PDF).
11/22/2024Referred to a Committee
The bill was assigned to the Housing, Urban Development and Zoning Committee.
12/10/2024Committee Hearing
The bill was passed out of committee with a recommendation of do pass during the Housing, Urban Development and Zoning Committee hearing.
12/13/2024Second Reading
12/13/2024Perfection
The bill failed.
12/13/2024Perfection
The bill was passed.
12/13/2024Reconsidered
The vote to override the veto passed.
01/10/2025Engrossment
The bill was engrossed during the Engrossment, Rules, Resolutions and Credentials Committee.
01/10/2025Third Reading
The bill was passed.
01/13/2025Delivered to Mayor
01/29/2025Mayor Returns Bill
The bill was approved.
01/31/2025Delivered to Register
02/11/2025Register Returns Notice with Ordinance Number
Register returns ordinance number 71956. Effective date is 03/02/2025
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