Garmin Ltd. won the green light on its financing package from the Olathe City Council for the tech manufacturer’s $145.9 million second-phase headquarters expansion.

In August, the City Council approved a total industrial revenue bond increase to $240 million to cover the increased costs of the second phase, increasing its issued industrial revenue bonds (IRBs) from $98 million to $138 million.

On Tuesday evening, the Olathe City Council approved Garmin’s request for a 10-year, 75% property tax abatement, along with issuing the $138 million in IRBs.

The tech manufacturer returned to the council to formally implement what was approved in August; the company first had to finish its first phase. Olathe issued an initial $102 million in bonds to Garmin in 2018 to help finance the first phase phase of expansion.

In the second phase, the company will remodel and repurpose a 580,580-square-foot facility for office and research uses at the northwest corner of 151st Street and Ridgeview Road.