A manufacturer in Richmond has received approval from two city commissions for a plan to use city-issued bonds to pay for nearly $19 million in plant improvements. The Palladium Item reports the project at the Johns Manville facility could create more than a dozen jobs. Plans call for the company to take financial responsibility for the revenue bonds and pay them back using tax increment financing money.
Johns Manville, which is owned by Birkshire Hathaway, makes insulation and roofing materials for the home building sector.
The plan is scheduled for final approval by city council November 17.
Source: The Palladium Item