The Shawnee County Commission this week will consider approving a resolution exempting certain property owned by Frito Lay from taxation for economic development purposes. If the economic development exemption for Frito-Lay’s expansion is granted, the county may grant an exemption in a specified amount and require a payment in lieu of taxes.
The property and buildings were appraised at about $9.3 million as of July 6, with added improvements to the land at $239,280. The 2018 taxes due for the buildings and land would be $380,470.53.
The proposed project includes purchase of vacant land adjacent to the current Frito-Lay manufacturing facility. Frito-Lay proposes to build an 86,000-square-foot Hi-Tech Warehouse.
The projected economic impact of the project over the next 10 years for the city of Topeka would be $1,030,444 and for the county would be $166,072, for a net benefit of about $1.2 million.
(Read more: Local – The Topeka Capital-Journal)