AGCO to seek tax abatement on former Farley’s & Sathers facility in Round Lake
ROUND LAKE — The Round Lake City Council will conduct a tax abatement hearing at its Nov. 26 meeting for AGCO Corp., which is interested in leasing space from Ferrara Pan, owners of the former Farley’s & Sathers facility in Round Lake.
AGCO is requesting tax abatement for three years from the city, school district and Nobles County as it plans to make up to $250,000 in improvements to the warehouse facility. AGCO is working with Ferrara Pan on a lease agreement for the warehouse.
At this time, AGCO plans to hire 20 full-time employees to work at the Round Lake facility — consisting of 15 warehouse employees and five low- to mid-level supervisors, according to Abraham Algadi, manager of the Worthington Regional Economic Development Corp.
Current taxes on the facility amount to approximately $48,000, with the city of Round Lake’s share at more than $18,000, the Round Lake-Brewster School District’s share of approximately $5,600, and Nobles County’s share of roughly $9,500.
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