The Fort Smith Board of Directors unanimously approved an ordinance authorizing the issuance of up to $110 million in industrial development revenue bonds for the purpose of providing financing for industrial facilities on behalf Mars Petcare US Inc.
This is an economic development incentive allowed by the state. The city issued an ordinance concerning the tax back program for the project in March 2017. The ordinance will allow the company to pay 50% of the normal property tax over a period of 10 years, he said.
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The 3rd River Valley Duathlon may not occur until Sunday, April 26, but the early deadline for registration is less than a month away for the 5k/11.8 mile/5k run/bike race.
After a lengthy process, the city has narrowly given the go-ahead to sell property that was the site of a construction project that turned sour.
After months of discussion and two votes, the Fort Smith Board of Directors voted to sell the city-owned property that is the former River Valley Sports Complex.
Fort Chaffee Redevelopment Authority
7020 Taylor Avenue
Fort Smith, AR 72916
(479) 452-4554