The Olathe City Council has approved tax incentives for a massive industrial and residential development off of US 169 Highway. The council recently voted 7-0 to rezone 247 acres of rural land, northeast of 167th Street and 169 Highway. The developer, Blue Springs Safety Storage South, is looking to build 13 warehouses, apartments, townhomes, duplexes and single-family homes. This week, the council voted 6-0 approving $252 million in industrial revenue bonds for the construction of the warehouses as part of a new business park, on 139 acres of the larger project, on the east side of 169 Highway between 159th and 167th streets. The industrial revenue bonds will allow the warehouse portion of the development to secure a 50% property tax abatement phased in for 10 years. The developer has not yet named any companies that plan to occupy the warehouses. But officials estimate the project would create more than 200 jobs in the first year, and more than 1,000 jobs within 10 years. Worker salaries are estimated to average $44,000 in the first year, and $57,400 after a decade.
Source: Joco 913 News
