After an initial 10-year tax abatement and bond request was tabled by Manhattan City Commissioners in December, the KSU Foundation and city staff returned with an altered request Tuesday, which received unanimous support.
The new request asks that the first five years receive 100% abatement. The organization’s promise of 30 million dollars in capital investment, 100 new jobs, and $50,000 wages for those jobs will be evaluated annually during years 6 through 10 to determine the abatement percentage, according to Deputy City Manager Jason Hilgers.
While commissioners were more receptive to these changes, Commissioner Linda Morse expressed a few concerns.
Commissioners John Matta and Mayor Mark Hatesohl both favored the new plan.
The expanded space within the office park is expected to be valued between $9 and $12 million, once completed.