The first part of the abatement for $850,000 worth of manufacturing equipment is for five years beginning July 1. The second category is for information technology equipment valued at $80,000 and will run from July 1 through the end of this year. Although Mayor Larry Thompson had said the city does not grant many tax abatements, the acquisition included Friendship Homes in Minnesota, a division of Fairmont, and Cavco assured the council the 550 employees of both firms would be retained.
The council will have to approve a confirming resolution at a future meeting for the request to be validated. Cavco acquired Fairmont June 1. ##
(Image credit: Cavco Industries, Inc.)