The city of Little Rock is preparing to approve a $150 million industrial development bond issue to build facilities for LM Glasfiber, the windmill blade manufacturer that will have plants on Lindsey Drive and Scott Hamilton.
Because the property will be exempt from taxation under city ownership of the facilities while bonds are repaid, a payment in lieu of taxes agreement is set for approval by the City Board of Directors. The company will agree to pay 35 percent of the normal property taxes, most of which benefit public schools.
Agreement here. Better than nothing, which was the agreement the city gave Acxiom in a near-secret deal a few years back.