Lawrenceburg Now

Thursday, January 26, 2012

Council Okays Negotiations With Industry Eyeing Lawrenceburg

   Lawrenceburg leaders have approved a measure that paves the way for negotiations to be held in earnest, in the hopes of bringing a new industry to the area.

   Few details have been released regarding the matter, however members of the Lawrenceburg Board of Mayor and Council approved a resolution on the subject during a business meeting Thursday morning.

   The resolution called for the council to, “approve a PILOT (payment-in-lieu-of-tax) lease agreement between the Industrial Development Board of the City of Lawrenceburg and TPR America, Inc.”

   The resolution reads, “TPR America, Inc., an Illinois corporation, has indicated an interest in locating a manufacturing facility in the City of Lawrenceburg that will provide employment opportunities for citizens of the City and of Lawrence County…that will be operated by an entity that is jointly owned by the company and another manufacturer of automotive parts…”

   The resolution authorizes the city’s Industrial Development Board to negotiate and enter into the PILOT transaction.

The board would acquire title to the facility in question, and “acquire title to the manufacturing equipment and other personal property to be installed in the facility,” then lease all to TPR.

   The resolution approves a twenty-year lease. It specifies that, “no payments in-lieu-of-taxes shall be required to be made to the city or county by the company during the term of the facility lease.”

In addition, it establishes a PILOT schedule, indicating that between 2012 and 2031, the city and county will receive PILOT payments of $100 apiece, annually.

   The document sets an effective date of, “the earliest date allowed by law.”

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