Greenwood officials and a developer say a tax break for the proposed Greenwood Iceplex is necessary, but some residents are questioning if the city is acting outside the boundaries of state law.
Minor-league hockey team Indy Fuel owners Jim and Sean Hallett have proposed the Greenwood Iceplex with up to four ice rinks to be built on 6 acres at Freedom Park. They have requested a five-year, $450,000 property tax break, and the city has also offered to lease the land for $1 a month for 60 years.
City Councilman Russ Jehl has a proposal to amend Fort Wayne’s tax abatement policy.
Jehl, R-2nd, said Tuesday that updating the policy is necessary to better reflect the council’s views.
Tax abatements are a popular economic development tool offered by municipalities to entice business investment. Abatements phase in business personal property taxes over a period of time, typically five to 10 years.
Need help with a tax abatement? Overpaying on your property taxes? Call us today and see how we may be able to save you valuable tax dollars. 219-472-8682. www.innotaxsolutions.com
ANDERSON – A sister company to NTN Driveshaft will make a $98 million investment in Anderson that will bring 198 jobs to the city.
Anderson city officials will announce this morning that NTK Precision Axel Corp. will build a 300,000 square foot facility to the west of the NTN Driveshaft building near 73rd Street and Layton Road.
NTK hopes to start production at the Anderson facility in October 2018. The last of the 198 jobs are expected to be created by 2021.
In May 2014, Interactive Intelligence Group CEO Don Brown held a press conference at the firm’s northwest Indianapolis headquarters, announcing plans to construct a new building and hire 430 workers by the end of 2016.
FORT WAYNE, Ind. (AP) — A Missouri development company is considering building a $32 million distribution center near a General Motor plant in northeast Indiana.
Wal-Mart will save more than $10.7 million in property taxes over 10 years on its new $165 million mile processing plant thanks to Allen County Council — a facility that will create substantially more jobs than originally announced.
Read More… Wal-Mart milk plant gets $10.7 million tax breaks, ups job estimate – Local – News-Sentinel.com
An Indianapolis developer wants to build a four story, $25 million student apartment building next to Indiana State University, but is asking for a five-year tax abatement from the city.
A groundbreaking ceremony is set Monday for a shell building at a Wabash Valley industrial property. The $3.3 million project at Vermillion Rise Mega Park is expected to be complete by the end of the year.
Terre Haute-based Garmong Development Company LLC purchased the site from the Newport Chemical Deport Reuse Authority and it will locate the 50,000 square-foot facility on parts of 32 acres. Park officials say plans call for it to be expandable to more than 200,000 square-feet. Plans for the project have been progressing more than two years.
The developer of a new student apartment complex at 220-224 N. Third St. is seeking a five-year tax abatement from the city, according to an amended application filed with the city clerk’s office.
The Terre Haute City Council is expected to discuss the abatement during tonight’s sunshine meet, which begins at 6 p.m.
Earlier, the Indianapolis-based private developer of Annex 41 had requested a nine-year tax abatement for the $25 million student housing project, which would be on property currently owned by the Terre Haute Boys & Girls Club. But on Wednesday, the attorney for the developer — Annex Student Living — submitted an amended application for a five-year abatement.
The City of New Albany, Indiana, and Flaherty & Collins Properties began construction on The Breakwater apartment project in December. The Breakwater is a $26.5 million luxury residential apartment development at the former Coyle Chevrolet property in downtown New Albany, Indiana