Jeff McKenzie Secures County Property Tax Abatements for Kentucky Distilleries
Bingham Greenebaum Doll LLP partner Jeffrey A. McKenzie represented The Bardstown Bourbon Company at the Nelson County Fiscal Court meeting on November 18, 2014. At the meeting, the Court approved an agreement to abate The Bardstown Bourbon Co.’s property taxes over the next 30 years, although the company will make an annual payment to the county and school for the whisky barrel tax portion of its property taxes.
Bardstown Bourbon Co. plans to complete construction of the 45,000-square-foot distillery and visitor center and begin production in 2016. A fully-aged premium line of bourbons is estimated to be made available within the next six or seven years. McKenzie also obtained $1.3 million in tax benefits through two investment programs from the Kentucky Development Finance Authority.
At the same meeting, McKenzie, who also represents Heaven Hill Distilleries and made a similar agreement on their behalf more than a year ago, obtained County approval for the tax abatement for its project, which involved building two bourbon warehouses on Gilkey Run Road. The county agreed to issue up to $50 million in industrial revenue bonds to finance the Heaven Hill project.
You can read the full story on the Bardstown Bourbon Company agreement on The Kentucky Standard website.
You can learn more about Jeffrey A. McKenzie and his practice by visiting his profile.