After the Bibb County, Ga., school board delayed a vote to approve a deal between Kumho Tire USA and the city, the board met on Wednesday, Nov. 26, to vote on the deal. The board voted 4-3 to amend the deal and requested an increased percentage of funds.
Because the proposed deal requires payments in lieu of taxes to the school system, local government and Macon-Bibb County Industrial Authority, each group must sign off on the deal. The county government approved the deal on Nov. 20.
According to The Macon Telegraph, the original plan would have the school board, the Macon-Bibb County government and the local Industrial Authority each getting a third of the money. Each would have received $9 million.
In its proposed amendment, the school board requests 45% of the $27 million. The local government and the Industrial Authority would split the remaining 55%.
In 2008, the county agreed to reduce the taxes on the plant to help make Bibb an attractive site for Kumho’s first U.S. plant. Kumho made news in July when it announced that it would resume work on the $500 million facility, which was delayed due to the recession.
As part of the tax break deal, Kumho will rent the factory site from the Macon-Bibb County Industrial Authority instead of buying it. The company agreed to make 20 years of payments in lieu of taxes.
The city-county commission and the Industrial Authority, both of which already approved the original proposal, will need to decide how to handle the amended deal, according to a spokesman for the county.
