The Business ReportProposed Kernersville School Sparks ControversySeptember 9, 2011 | David FordGuilford County Schools is running out of space to accommodate the expanding population of airport-area residents. To meet the growing need, they've offered to purchase 115 acres of prime real estate on the eastern end of the Triad Business Park. The Park, located in Guilford County but within the town limits of Kernersville, was created in 2007 and zoned for industrial use, with up to $3 million in incentives for the park’s owners, TDO Land Holding LL.
TDO is all for the deal. Since its creation, the park has landed the 125-acre, $100 million FedEx Ground facility, but not much else. They've offered to forgo $1.175 million of $2.35 million in cash incentives it’s slated to receive from tax revenues generated within the park under the 2007 development agreement if the town of Kernersville signs off on the rezoning and allows the Guilford County Schools project to move ahead. Meanwhile city officials like Kernersville Mayor Dawn Morgan, and Greensboro Economic Development Alliance president Dan Lynch are less than thrilled at the prospect of forgoing the income stream for the city that property tax revenues would generate were the land marketed for industrial use.
Business Journal Executive Editor Justin Catanoso breaks down the different players involved and what's at stake with WFDD's David Ford.
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