The Catawba County Board of Commissioners recently approved a speculative buildings agreement with Lake Park 321, LLC on a 40,000 square facility near the Hickory Regional Airport. | Stock Photo
The Catawba County Board of Commissioners recently approved a speculative buildings agreement with Lake Park 321, LLC on a 40,000 square facility near the Hickory Regional Airport. | Stock Photo
The Catawba County Board of Commissioners recently approved an agreement with developer Lake Park 321, LLC to provide incentives and aid for a $2.2 million speculative building project between U.S. 321 and Clement Boulevard near the Hickory Regional Airport.
The planned 40,000-square-foot building would sit on 3.5 acres in the commercial and manufacturing area, as reported by the Hickory Daily Record on Sept. 23.
Scott Millar, Catawba County Economic Development Corporation president, said that Lake Park would have eight months to finance and construct the building, the Hickory Daily Record reported. The county would then grant back any property taxes from during the construction period and through to when it is sold — up to three years.
The agreement also has the county waiving or reimbursing permitting fees and utility connection fees for the project, the Hickory Daily Record reported. That is in addition to the county and city providing up to $135,000 in assistance with electricity, insurance and other carrying costs during the three years Lake Park has in which to sell the building.
The county, city and other involved entities would be reimbursed for their outlays from the sale of the building, the Hickory Daily Record reported.
Alerts Sign-up