Property Lines - Scott Olson

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Real Estate & Retail

Fun with tax abatements

June 3, 2008

TaxesA couple of development projects that would include tax abatements are up for hearings Wednesday at the Metropolitan Development Commission:

Community Hospital of Indiana Inc. plans to spend $3.7 million updating and expanding a data center at 7351 Shadeland Ave., a project that would retain 117 jobs and add 30 at an average wage of $26 per hour. Recommended incentives include a 6-year personal property tax abatement worth about $200,000 and a 6-year property tax abatment worth $841,000.

Monarch Beverage Company Inc. plans to spend about $38 million on the first phase of its new headquarters at 9347 E. Pendleton Pike, earning it a 10-year personal property tax abatement worth $721,000 and a property tax abatement worth about $2.3 million. IBJ reported the story first back in March.

DCI Medical Laboratories plans to add 20,000 square feet to its facility at 9550 Zionsville Road, retaining 152 jobs and adding 125 new jobs at an average wage of $18.49 per hour. The $2.5-million project could land the company an 8-year personal property tax abatement worth $127,000.

Also on the agenda: The board is scheduled to consider the $15-million Monon Place proposal which was tabled last month. The project calls for 150 new apartments, a clubhouse and pool and about 12,500 square feet of retail space along the Monon Trail between Kessler Boulevard and 61st Street.
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