By Allyson Dix
For Glasgow News 1
Barren County’s existing property tax rate will remain the same at 12.2 cents per $100 of assessed value. The fiscal court unanimously approved this tax rate this morning, in addition to 15.3 cents per $100 on motor vehicles and watercrafts.
The Barren County Fiscal Court also voted to cancel an option-to-lease with Wabuck Development Company and instead approve a similar lease with the Hero Foundation, a non-profit arm of the Glasgow Housing Authority, to develop 75 affordable housing units for seniors in the former Barren County Health Department property.
A Wabuck representative explained this morning that due to the property not being donated, it would lower the scoring rate in an already highly competitive application process for low market tax credits. The terms are expected to remain the same in the option-to-lease contract with the Hero Foundation, who will pay the lease and donate the property to Wabuck and continue moving forward with development as originally planned.
This story will be updated.
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