City supports Rotek expansion
from the advocate website
Aurora — The city continues to take steps to keep one of its largest employers from moving.
At City Council’s April 28 session, members passed two ordinances in an effort to convince Rotek to stay here and not move to Kentucky.
Rotek plans a $90 million expansion, but is also considering leaving for Florence, Ky., just across the Ohio River from Cincinnati.
The first item passed will have the city and Rotek entering into a Community Reinvestment Area, in which Rotek will receive a 15-year, 100 percent tax abatement.
Finance Director Bob Paul said of the proposed $90 million expansion, $17 million is for real estate and $73 million for equipment. Only the real estate falls under the abatement.
Rotek would receive $3.4 million in tax abatement during the 15 years.
The other ordinance will allow the allocation of up to $450,000 of the budgeted 2008 road paving program to improve Route 43 in front of the plant. (more…)
by olive at8:00 PM under 100, 15 year, 2008, 90, a, abatement finance, abatement rotek, and, bob, budgeted, city, deceleration, director, entering, include, kentucky rotek, lane, lane mayor, left turn, lynn, mcgill, paul, paving, pending, percent, plans, program, receive, road, rotek, tax, the, uncategorized (Comments)