Board to examine business tax breaks

Wednesday, February 13, 2008

Lewisburg officials want to know if businesses that were given a property tax break have kept their end of the bargain by hiring the number of employees they promised they would when they got the tax deal.

Nearly a dozen businesses will be asked this month about their compliance with agreements struck with the city's Industrial Develop-ment Board that granted a property tax break to foster growth.

City officials also want to know if the businesses are meeting other requirements of their contracts with the city.

"It's just time to go check and see that everything is like it should be," IDB Chairman Eddie Wiles said Monday morning while talking about a decision by the board last week to gather information on tax abatement contracts.

Wiles described the letters as the board's responsibility for due diligence, or good stewardship.

See Wednesday's Tribune for the complete story.