Software firm seeks tax breaks for HQ move, expansion

Back to TopCommentsE-mailPrintBookmark and Share

A local software firm is seeking a property-tax break from the city to help it move its headquarters from leased space downtown to a pair of vacant buildings it owns south of Broad Ripple.

The Consultants Consortium Inc., which does business as TCC Software Solutions, said it plans to spend about $1.3 million to renovate the buildings on the 3.6-acre property at the northeast corner of Winthrop Avenue and East 52nd Street. The property is bordered by the Monon Trail on the east.

The buildings, which are in an Economic Revitalization Area, were formerly occupied by a window manufacturer and insulation contractor. The renovation would turn the industrial buildings into office space.

TCC said the move from 1099 North Meridian St. to the new facility will help it retain its 112 employees and hire 12 more workers by 2018. The retained and new employees will be paid an average wage of $32.66 per hour, the company said.

Department of Metropolitan Development staff are recommending the city approve the company's request for a property-tax abatement that would save the firm almost 59 percent on over a six-year period.

The city said the company would save an estimated $51,944 in property taxes over the six years while paying $36,597.

After the abatement, TCC would pay an estimated $14,757 annually in property taxes.

The renovation of the property would mean an increase in the tax base of about $455,000 of assessed value, the DMD said.

"This project represents an important step in the continuing redevelopment of Midtown, with the potential to catalyze further development in the area," DMD said in a report.

The proposal will be  presented at the Jan. 15 Metropolitan Development Commission meeting. It is the set for final approval and a public hearing at the Feb. 5 MDC meeting. After that, it is subject to City-County Council approval because the property is in a TIF district.

TCC, founded in 1996, produces mobile workforce and technology software, child care information systems and other tailored software applications.


  • thanks for
    Researcher - OK that makes sense, thanks for clarifying. To make the numbers in the article work, it seems like TCC would be adding closer to $492K to the base ($14,757 / 3% = $491,900) by way of their investment in improvements. Also, if the current assessment is $957,400, shouldn't the estimated property tax be closer to $28K? (i.e. $957,400 * 3%.) I'm not sure if the promised job retention and and expansion justifies starving the TIF district for 6 years, although I admit I'm not clear on how losing that $52K over 6 years would actually affect the bonding capacity of the TIF. It seems minor, but every little bit of incremental property tax revenue is important in a TIF district. Either way, good to have the investment and the jobs, just need to make sure that we keep the TIF healthy as well.
  • clarity
    Not exactly. They will continue to pay the taxes on the full base assessment ($21k/year), as the law does not allow abatement of existing assessed value. The taxes on the incremental increase in assessed value over the base as a result of the improvements will be phased in over 6 years, 100% abated the first year, 85% the next and so on, until finally the full taxes will be paid annually on the increase starting in year 7. The overall savings over the six years will be approximately a $51k. Im not sure it's in the TIF but if it is that means the $36,000 paid during the abatement period and about $14k every year after that would contribute toward TIF funds while the base continues to go to the general fund.
    • Please
      So according to the numbers, it seems that TCC will have the portion of their property taxes derived from their current base assessment ($957,400) abated over 6 years (100% abated year 1, 85% abated year 2, etc...for a total savings of ~$100K) while immediately paying full property tax only on the assessed value of their new improvements (~$455,000 assessed value @ 3% = ~$13,650). Is this correct? If so, it seems like a nice way to still "feed" the TIF district while also offering a significant subsidy to help the business. If anyone can verify that this is the case, please do.
      • BR resident
        A big thank you to TCC for buying and fixing up a dilapidated eyesore. That's a huge employer for the area !
      • Cheers to Meridian Kessler
        TCC Software Solutions move from downtown Indianapolis to Meridian-Kessler (AKA the established vibrant community located south of Broad Ripple in the heart of Midtown) is another demonstration of the desire for businesses to locate in livable walkable neighborhoods. For nearly a century, Meridian-Kessler has provided Indianapolis citizens a place to live, work, shop, play, learn and grow. Indianapolis is fortunate to have a diverse, eclectic and sustainable community like Meridian-Kessler so close to downtown. We’re ahead of the national trend to create such places where people can avoid commutes and feel connected to neighbors and businesses.
      • Math
        So yes, people do your math first!
      • details
        Actually the property is currently assessed at $957,400 and the estimated 2014 tax bill is $20,993.14 which they will continue to pay. The values in the article only represent the tax implications on the estimated $455,000 incremental increase in value resulting from the improvements. So I would say that foregoing an additional $51k over six years while stilll collecting an additional $36k over that time and $15k every year after that isnt too bad of a deal to have a vacant commercial property adjacent to the Monon updated and used productively. Not to mention the restaurants on College probably wont mind another 124 employees in walking distance for lunch and a drink after work!
      • Hilarious
        approximately 88,000 in taxes over 6 years, comes to taxes of under 15,000 per year. If the tax rate for business is 3 percent then the whole property is worth $500,000. As they are ADDING $455,000 to the assessed value, the property must be worth only 45,000 ap present...People, do your math before ripping off the taxpayers.

        Post a comment to this story

        We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
        You are legally responsible for what you post and your anonymity is not guaranteed.
        Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
        No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
        We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

        Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

        Sponsored by

        facebook - twitter on Facebook & Twitter

        Follow on TwitterFollow IBJ on Facebook:
        Follow on TwitterFollow IBJ's Tweets on these topics:
        Subscribe to IBJ
        1. Hello Dear Are you tired of Seeking Loans and Mortgages,have you Been Turned down constantly By your banks and Other Financial Institutions or Micro Finance scheme. This is let you know with 100% guarantee that we Offer loans ranging from $1,000 Minimum to $1,000,000.00 Maximum at 3% interest rate per Month. We give out LOANS for developing business. a competitive edge/business expansion. email address: michealscottloan124@gmail.com We offer the following kinds of loans and many more; * Personal Loans ( Unsecured Loan) * Business Loans ( Unsecured Loan) * Consolidation Loan * Combination Loan * Home Improvement * Xmas Loans for contact to seek for loan email this email address: michealscottloan124@gmail.com Thanks

        2. My name is Mr Henry Josh and i live in the USA California and life is worth living right now for me and my family and all this is because of one man sent by GOD to help me and my family, i once had a life filled with sorrow because my first SON needed a kidney transplant and all our savings were going towards his medications and this normally leaves us with no money to pay our bills or even put enough food on our table and our rent was due and no funds to pay these bills and life felt so unfair to me and every night my wife will cry herself to sleep every night until one day, i was browsing through yahoo answers and i saw a striking advert of a man that gives out personal loans and that the offer is opened to all and i have heard so many things about internet scams but at this point of my life, i was very desperate and ready to take any risk and at the end of the day, i applied for this loan and from one step to another, i got my loan within 12 hours through bank transfer and you know, it was all like a dream and i called Mr Daniel Jones A Man who is the GOD sent lender i found and said, i have received my loan and he smiled stating that to GOD be the glory and i was so shocked as i have never ever seen anyone with such a GOD fearing and kind heart and today, i am the happiest man on earth because by GOD’S grace, my SON kidney transplant was successful and today he is healthy, i and my family are living very comfortable and happy and if you are in my former situation or in serious and legitimate need of a loan, you can reach this GOD sent lender via fidelityloanfirm@outlook.com

        3. Greetings to everyone reading this comment!!! I am Greg William by name. I am out here to recommend the effort of Mark Oscar,I was in need of a consolidation loan amount of 50,000 and as soon as I got in contact with Mark Oscar Loan Firm on Wednesday last week and on Friday last week as well I receive an alert from my bank(Royal Bank of Scotland Group) that the fund was transferred,I want everybody on this site to contact Mark Oscar now via email on how to get a loan because I got my loan from them and I am very happy,so contact them now. Oscarloanfinance@hotmail.com Thanks!!!!!!

        4. Elected officials, like Mourdock, get vested in 8 years. It takes 10 years for all other public employees, most of whom make a lot less money. So much for the promise to finish out his term.

        5. Great state treasurer and a good man!! Just curious if the folks who didn't quite understand his quote would like to tell my daughter-in-law that God didn't intend her! Mourdock's comment was correct but twisted and the article didn't mention that his opponent and the press let the impression stand that Mourdock meant that the rape was intended. Stupid people!!