A resolution to declare certain real-estate to be within an Economic Revitalization Area (ERA) was considered by Plymouth City Council members last week.
The resolution was regarding the piece of property where the business Oasis Lifestyle LLC is located. Last Monday, Oasis Lifestyle President Mark Naylor presented city council members with some information about his company’s recent expansion.
He explained, “We recently added twenty-two and half thousand square feet of warehousing facility and four additional dock doors to aid in our customer service and an additional seven thousand square feet of infill between two existing buildings for additional production capacity.”
Marshall County Economic Development Corporation President Jerry Chavez added that the resolution would establish the location of Oasis Lifestyle LLC as an ERA, which is the first step in the tax abatement process.
He said that by declaring the location an ERA, tax abatement could potentially be applied to the property under the capital investment. He mentioned that the building itself is valued around $1.8 million and the company’s equipment is worth about $134,000.
The city council members adopted the first reading of the resolution with a unanimous vote, approving the property at 1400 Pidco Drive to be within an Economic Revitalization Area.
