On July 16, 2019 the City and KEB America entered into a development agreement to equip and construct an expansion of its existing building consisting of 68,900 additional square feet to be used for manufacturing, office, and warehouse space.

The original resolution granting the abatement provided that the abatement would commence in 2021 and end in 2029.  At the time the abatement was granted, it was estimated that the full value of the improvements would be available for taxation in 2021.  However, the full value of the improvements was not available for taxation until 2022.

Adoption of the resolution formally recognizes the change in calendar years, but does not modify the length of the abatement.