Fishers seeks to cancel tax break for failed Deca Financial

May 19, 2014
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The town of Fishers is taking steps to officially terminate a three-year property tax abatement offered to a debt-collection company that is winding down operations.

As IBJ reported last month, Deca Financial Services LLC will be dissolved after its creditors forced the Fishers firm into bankruptcy.

Deca employed about 60 in 2012 when Fishers gave the then-growing company a three-year tax break on a vacant building at 12175 Visionary Way. The local incentives went along with $2.5 million in conditional tax credits from the Indiana Economic Development Corp.—and a promise to create 140 jobs by 2015.

The company seemed to be making progress about this time last year, when the Fishers council signed off on its annual compliance report.

Given the change in circumstances, members are being asked to begin to abatement-revocation process tonight.

Deca owed about $20,000 in property taxes this year, about $30,000 less than it would have without the building abatement. The three-year deal represented total savings of about $100,000.

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