Everything in its Right Place
The Leavenworth County Port Authority (LCPA) owns two industrial business centers, one at 13th and Eisenhower Road in Leavenworth and one at U.S. Highway 24-40 and Laming Road in Tonganoxie. The LCPA has developed these sites with all services for new buildings. Individual sites range in size from just over one acre to 10 acres. Build to suit.
The LCPA can assist in the building of your new facility by:
1. As a government agency, LCPA does not have to pay sales tax on the construction of new buildings. This is about a $15,000 savings on a typical 10,000 SF building.
2. Seeking and receiving the lowest possible bids for the construction and financing of your building. (The LCPA, as a qualifying special purpose government, borrows at preferred interest rates.)
3. Supervising the construction of the building so that it meets your specifications. You can trust the LCPA to handle the day-to-day headaches of constructing the facility. Build to Suit projects can be commercial, industrial or warehouse. The projects can be on either of the LCPA owned business parks or they can be anywhere in Leavenworth County (zoning permitted). Lease-Purchase Advantage
Since the LCPA’s purpose is economic development and to encourage business investment and create jobs, the LCPA seeks no profit. A typical lease-purchase, the base rental rate on a new building is based on the actual cost of the land and building, capitalized at a 15-year amortization and an interest rate the LCPA receives from the lowest bid, based on a five year term and 15-year amortization, by a Leavenworth County financial institution. The LCPA typically contributes 20-25 % of the cost in cash or land and borrows 75-80% from the financial institution. The LCPA enters a three-year lease with two one-year options to extend the lease-purchase agreement. The monthly cost is the base rent described above plus 20% additional rent. The 20% is held by the LCPA until the tenant exercises his right to purchase the property, anytime during the first five years. The entire 20% is applied to the purchase price. If the tenant fails to exercise the purchase option during the five-year term, the tenant forfeits the additional 20% rent.