Town of Benson issued the following announcement on Mar. 18.
NOTICE IS HEREBY PROVIDED, pursuant to N.C. General Statute § 158-7.1(c), the Town of Benson Board of Commissioners shall hold and conduct a PUBLIC HEARING at their regular meeting on Thursday, March 24, 2022, at 7:00 p.m. The meeting will be held at the Town of Benson Conference Center located at 303 E. Church Street, Benson, North Carolina.
A company proposes to develop and build a 500,000+/- square foot expandable Class A speculative industrial logistics facility in the Extra Territorial Jurisdiction of the Town. The facility will be used to entice new business to come to Benson and will stimulate the local economy, cause the creation of new jobs, encourage business and industry to locate in the Town of Benson, and will promote business in the Town. The Board of Commissioners will solicit public comment on the proposed incentives at the public hearing.
The Board of Commissioners will consider approval of incentives to the company in exchange for the company’s commitments to (1) plan, develop and build the facilities; (2) cause to create new permanent full-time jobs; and (3) invest in taxable business personal property additions, all of which will return property tax revenues substantially in excess of the Town’s investment. The cash grants are contingent upon, among other things, the company’s entry into a local economic development agreement with the Town containing the obligations and agreements of the company and the Town.
The proposed incentive is a seven-year cascading property tax reimbursement grant, utilizing the following rebate percentages as a portion of total real property taxes paid to the Town:
Year 1 50%
Year 2 40%
Year 3 30%
Year 4 25%
Year 5 20%
Year 6 15%
Year 7 10%
Citizens that would like to address the Board regarding the Public Hearing but have concerns with physically attending the meeting may email their comments to Town Clerk Angela Thornton at athornton@townofbenson.com by Wednesday, March 23, 2022 at 5:00 p.m.
The public may view the meeting on YouTube Live beginning at 7:00 p.m. https://www.youtube.com/c/TownofBenson
Original source can be found here.
