City of Jonesboro Finance & Administration Council Committee Meeting Minutes 2026-05-26
Committee Advances Colson Caster Bond Escrow Resolution
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Description
The committee recommended a resolution authorizing an escrow deposit agreement and related real estate conveyance tied to defeasing bonds previously issued to support Colson Caster LLC’s Jonesboro facility. Colson Caster is exercising its purchase option under a 20-year PILOT agreement, with future action expected to reimplement the incentives for the remaining term.
Contract Details
Vendor
COLSON CASTER LLC
Agency
Jonesboro Area Transportation Study, AR
Contract Type
FINANCIAL_SERVICES
Document Date
May 26, 2026
Contract Term
20-year PILOT (5 years used, 15 remaining)
Renewal Info
Existing 20-year PILOT agreement of which 5 years have been used; future request anticipated to reimplement the PILOT for the remaining period after the restructuring.
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