A public hearing will be held Wednesday morning at the courthouse in Atlantic, with regard to a proposed development agreement between Cass County and Elite Octane, LLC, the company that wants to build an ethanol plant on the northern edge of Atlantic. The hearing takes place at the 9-a.m., during the Cass County Board of Supervisor’s meeting that begins at 8:30-a.m. in their boardroom at the courthouse.

Last Wednesday, the Board said the hearing would be contingent upon lawyers for both the County and Elite Octane reaching an agreement on the County’s financial obligation to help make the plant possible. On Friday, Nick Bowdish (B’oh-dish), President and CEO of N Bowdish Company, LLC, issued a press release saying their new proposal provides for new infrastructure to be completed in Cass County that will be paid for entirely by property taxes generated by Elite Octane.  Bowdish said at the completion of the proposed project, Cass County will have an additional two and a half miles of newly paved roads that should help facilitate development of the area surrounding the proposed plant.

The proposal says…based on a full assessment of $32-million…an annual tax payment of just under than $911, 500 would be made from Elite Octane to the County. It assumes 15-years of tax payments amounting to more than $13.6-million. If the assessment exceeds $32-million over the 15-years, Cass County would rebate 100% of the incremental tax payment dollars that Elite Octane incurs, if more than $911,497. If at any time during the fifteen years the actual assessment is less than $32,000,000, Elite Octane would be be held to a minimum assessment of $32,000,000.

The annual tax payments would begin on Sept. 1st, 2020, and by March 1st, 2021 would cover the debt payment Cass County incurs on infrastructure improvements intended specifically for the ethanol plant project. The annual Cass County debt payment for the infrastructure is estimated at $430,000 per year.

Prior to the public hearing, the Board will discuss the latest proposal. After the hearing, they’re expected to act on a Resolution approving the Development Agreement with Elite Octane.