On July 7, 2020 the City entered into a contract for private development for the construction of 130,000 square foot building that would be leased to Cherne Industries for manufacturing, warehousing and office space.  The improvements are expected to create 165 jobs in the City.

The original resolution granting the abatement was adopted on February 18, 2020 and provided that the abatement would be provided for 9 years.  At the time the abatement was granted, it was estimated that the full value of the improvements would be available for taxation in 2022.  However the full value of improvements was not available for taxation until 2023.

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