(A) Tax abatement for both real and personal property (new manufacturing equipment) may be made for new and existing industrial or commercial property only within the current land use or County Comprehensive Zoning Plan and ordinances of the town, based on the amount of new investment in real property or equipment new to the state and the number of jobs created or retained.
(B) The Town Council hereby finds that there is a need to develop tax abatement procedures which set forth the philosophy, regulations, procedures, and general standards which the town believes are necessary to encourage economic development within the town limits.
(C) (1) The Town Council therefore declares that the following tax abatement procedures and general standards shall govern tax abatement procedures, and general standards shall govern tax abatement requests filed for consideration with the town.
Scoring Matrix |
Scoring Matrix | |
Classification | Score |
Industrial/Manufacturing | 10 |
Research/Development | 8 |
Commercial Development | 6 |
Warehousing/Distribution (minimum 30,000 square feet) | 4 |
Housing | 4 |
Investment | |
$4,000,000 or greater | 10 |
$2,000,000 to $4,000,000 | 8 |
$80,000 to $2,000,000 | 4 |
$30,000 to $80,000 | 2 |
Permanent jobs created and retained (within one year) | |
100 and above | 12 |
75 to 99 | 10 |
50 to 74 | 8 |
25 to 49 | 6 |
5 to 24 | 4 |
Less than 5 | 2 |
Existing industry | 2 |
(2) One hundred percent points value granted on wages above current average hourly wage for classification based on Indiana Workforce Development statistics for southeastern Indiana.
(3) Fifty percent points value granted on $10 per hour up to current average hourly wage for classification based on Indiana Workforce Development statistics for southeastern Indiana.
Matrix Score | Abatement Duration | |
Real Property | Equipment | |
24 or above | 10 years | 10 years |
20 to 23 | 10 years | 5 years |
15 to 19 | 6 years | 5 years |
10 to 14 | 3 years | 5 years |
Less than 10 points | 0 | 0 |
(D) Indiana Workforce Development provides employment and training services in accordance with the provisions of the Job Training Partnership Act, being 29 U.S.C. §§ 1501 et seq., as amended, and other applicable federal, state, and local laws to eligible residents. As a part of the tax abatement process, an applicant will be required to work with this agency for employment opportunities and possible placement to qualified applicants first, from the town; second, from Center Township; third, from the county; fourth, from the state; and fifth, from out of state.
(E) The applicant or an authorized representative must attend all meetings of the Town Council that deal with the petition for abatement and enactment of a resolution.
(F) Property owners receiving tax abatement are required to file an annual report with the Clerk-Treasurer no later than April 1 of each year during which abatement is received. The Clerk-Treasurer will send a notice of the information required by February 1 and it shall include copies of Form 322 ERA/PP, as prescribed by the state’s Board of Tax Commissioners and required for filing with the County Auditor. The Clerk-Treasurer will present the information to the Town Council.
(Res. 2007-5, passed 2-20-2007)