HUTCHINSON, Kan. — The Hutchinson City Council will consider a request for $4.5 million in taxable industrial revenue bonds for the proposed Genzada Pharmaceuticals facility during Tuesday’s agenda session.
Genzada recently purchased the Dillons property at 30th and Plum. The company plans to remove the current building and construct a new medical research facility. The company manufactures and researches plant-derived treatments for certain types of cancer and other diseases.
The bonds will be used to acquire, renovate and equip the new facility. There is no liability to the city with this transaction.
Afaya Partners, LLC, the entity behind the proposal, will also apply for a property tax exemption with the Kansas Board of Tax Appeals for 10 years.
Tuesday’s Hutchinson City Council meeting is at 9 a.m. in the city offices.