Title
Discussion and action on Aviagen expansion
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SUMMARY:
Aviagen is looking at an expansion of their operations to build a lab. They expect to create 15-20 new jobs. Past City Councils have given a credit of $5,000 per job created off the sale price of the property.
The Assessor of Property has valued it at $10,000/acre; however, this particular piece is part of a much larger parcel that extends across the Obed River and is inaccessible at this time. The appraisal of the current Aviagen property which fronts Industrial Boulevard has a tax appraisal of $30,000/acre. The City Manager recommends establishing the value at $25,000/acre. At 3.6 acres, the value would be $90,000. A credit of $5,000 for 15-20 jobs would be $75,000 - $100,000.
BUDGET ACCOUNT:
Recommended Action
NECESSARY COUNCIL ACTION: Consider request of Aviagen for property on Duer Court.