Audio: Public comment period continues on issuance of industrial revenue bonds to Nestle

Nestle Sign in front of Corporate offices

The public comment period continues this week regarding intentions by the city of Trenton to issue industrial revenue bonds to assist Nestle USA in its announced purchase of a building and equipment at the ConAgra plant in Trenton.

Phil Tate of Gallatin serves as a consultant on behalf of the North Central Missouri Development Alliance, a local economic development group.

 

 

Taxing entities and the public who wish to offer comments may contact Micah Landes at the alliances’ office on the campus of North Central Missouri College or City Administrator Ron Urton at Trenton City Hall.

The Trenton City Council, at a meeting Monday night, April 23, is expected to consider an ordinance authorizing up to $75,000,000 in taxable bonds and setting up payment in lieu of taxes for ten years.

 

 

While the tax abatement runs ten years, Tate expects why taxing entities would get a reduced amount of payments for the second five-year period.

 

 

Tate anticipates Nestle USA will buy the industrial revenue bonds to finance their deal with ConAgra.