Council approve performance agreement for ‘Project Cow’
After several closed-door sessions in the past, Pulaski Town Council last week gave its blessing to what it calls “Project Cow.”
According to Town Manager Shawn Utt, Project Cow involves a $3 million expansion of Calfee Park over the next five years.
Besides the additional investment in the park by its owners, Historic Calfee Park, LLC the project will also mean the retention of at least 75 jobs.
As its contribution to the project, last Tuesday town council approved a performance agreement with Historic Calfee Park, LLC that provides an annual real estate tax incentive back to the park owners.
The town will waive all real estate taxes owed by Calfee for 2020, 2021 and 2022, and 50 percent of taxes owed for tax years 2023, 2024 and 2025.
Utt reminded council that when the town owned the ballpark, it did not collect any taxes from the property.
“Now we’re getting quite a bit from meals taxes and other tourism related revenues. I think we’re still ahead of the game,” regardless of this new agreement he said.
Utt said the agreement council was considering is a replica of a similar document adopted by the Pulaski County Board of Supervisors and the county’s Economic Development Authority.
Council approved the agreement on a unanimous vote.
By MIKE WILLIAMS, The Patriot
May 16, 2020 @ 12:25 am
If the financial cost to the town is waived taxes, I approve. Why this would need to be handled in closed sessions means that this agreement requires close examination by the taxpayers to insure that we are not the “cow” being milked.