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Metro Industrial Development Board (IDB) still needs to sign off on the plan.Needed upgrades include the relocation and undergrounding of electrical lines; a new water line; McCrory Lane road improvements; and the construction of a water tank.A state statute allows public infrastructure improvements to be paid by a special assessment levied on the properties benefiting from the improvement, according to council attorney Jon Cooper legal analysis.In this case, the IDB would issue bonds that would be paid off by special assessments essentially an added tax on parcels within the new development. The principal amount of the bonds is estimated at $28.2 million. The developer currently owns all 10 of the parcels.no real exposure to the city,christian louboutin uk, Riebeling said.
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