Erlanger Prepares to Lower Taxes, Announces Bonds for Cinema Redevelopment
The Erlanger city council voted to support projects that are part of the redevelopment of the former Showcase Cinema site, and took a step to lower taxes in the city.
A first reading of an ordinance was heard, which would lower the ad valorem property tax rate.
The rate for the 2018-19 fiscal year will be $0.323 per $100 of assessed value, 2 percent lower than last year's rate.
The tax on personal property other than motor vehicles will be $0.565 per $100 of assessed value. Last year's rate was $0.337 per $100.
Meanwhile, Mayor Tyson Hermes said that there is a new tenant committed to filling half of one of the buildings on the redeveloped Showcase site, and a letter of intent from another business to fill the other half.
That news follows the June announcement that Coca-Cola Bottling will fill 575,000 sq. ft. in another building.
Council passed a resolution which authorizes the issuance of up to $22 million maximum aggregate principal amount taxable industrial building revenue bonds to assist financing the acquisition, construction, and equipping of building 3 on the project. This issuance of project bonds shall be conditioned on the company complying with the provisions of an agreement in lieu of taxes.
Council passed a separate resolution authorizing the issuance of up to $18 million maximum aggregate principal amount taxable industrial building revenue bonds for building 2 of the project. The same conditions apply for this building.
Council voted to pass an ordinance which amends the personnel pay plan for all Erlanger employees and non-elected city officers.
Council also approved a resolution authorizing the mayor to apply for body worn video cameras for the police department. Upon arrival of those cameras, the city will enter in to an agreement with Homeland Security to execute any documents for this project.
The Erlanger Historical Society is holding a photo contest. Winners will be announced at Heritage Day and prizes will be awarded. Details can be obtained by calling the Erlanger Historical Museum at 859.727.2630.
Bids were received for the Narrows Road intersection project. Of the three bids received, Lonkard Construction had the low bid at $363,373, and council voted to award the project to that company. City Engineer Jim Viox said that when everything is considered, the project will come in $91,212.24 under budget.
A Lloyd High School alumni luncheon is scheduled for September 23 from 1 to 4 p.m. The luncheon will serve as a fundraiser for scholarships provided by the alumni group.
Written by Patricia A. Scheyer, RCN contributor