World Kitchen in Greencastle has been a mainstay of the local community for decades, but, the lease on the building – held by Matrix Development Group of New Jersey – expires at the end of this year.
Currently, Matrix is negotiating a deal to renew the lease and make massive upgrades to the 1960 World Kitchen facility or face the potential of the company leaving the area, which would affect about 300 employees, Antrim Township Administrator Brad Graham said.
At Tuesday’s Antrim Township meeting, a Matrix representative asked supervisors for a hearing to enter the 600,000-square-foot facility into a Local Economic Revitalization Tax Assistance program (LERTA), Graham said.
The program is intended to provide incentive for property owners to undertake major renovations and property improvements while easing the burden of increased taxes that come with a higher tax assessment when they are complete.
Companies applying for LERTA must show the building (World Kitchen) has deteriorated, Graham said. If approved, the company would receive a tax break that would mean no taxes the first year, 10 percent the second year, 20 percent the third year and so on, Graham said.
A public hearing on placing the facility on LERTA is scheduled for Tuesday, Aug. 14, at 7:30 in the Antrim Township building.