Economic bond considered for OFS expansionOctober 17, 2019
From Local Sources
HUNTINGBURG — Up to $15 million in economic development bonds may be allotted for OFS’ project to expand its logistics building on Styline Drive in Huntingburg.
The Huntingburg Economic Development Commission recommended to the Huntingburg Common Council Wednesday that the bonds be allowed. OFS will purchase the bonds, the money from which will go to the expansion project.
A special tax-increment financing district around the facility — Styline West — is being created. The taxes generated in the first 25 years from that district, which are paid by OFS, will go to paying off the bonds. That will also be considered by the council, per a recommendation from the Huntingburg Redevelopment Commission.
OFS wants to consolidate its logistics operations into the 1008 Styline Drive facility, which is estimated as a $13 million project. OFS plans to first expand the building to the south and then to the north.
The Huntingburg council will consider the recommendations at its next meeting, which will be at 5:30 p.m. Tuesday in the council chambers on the second floor of City Hall, 508 E. Fourth St.
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