HomeMy Public PortalAbout3/12/1997 executiveCity of Greencastle
City Hall
S Four East Walnut Street
Greencastle, Indiana 46135
GREENCASTLE COMMON COUNCIL.
EXECUTIVE SESSION
Pamela S. Jones
Clerk-Treasurer
WEDNESDAY, NIARCH 12, 1997 7:00 P.M. GREENCASTLE DEVELOPMENT
CENTER
The Greencastle Common Council met in Executive Session, Wednesday, March 12. 1997 at the
Greencastle Development Center, Mayor Michael called the meeting to order at 8:10 p.m. On
the Roll Call the following were found to be present: Councilor Green, Councilor Baynard and
Councilor Masten. Councilor Roach and Councilor Hammer were absent. Also present was
Greencastle Development Center Director Bill Dory, City Attorney John Zeiner and Dan Doan
representing GDC.
This meeting is to discuss Economic Development regarding Tax Abatment for an expansion at
Heartland Automotive. Heartland Automotive is looking at a S9 million expansion including a
45,000 square foot building. The company has not requested tax abatement on the retooling that
will be done along with this expansion. The project does not include additional employees.
Councilor Masten asked what maximum abatement is for building and equipment. Bill Dory
• replied that maximum abatement for buildings are allowed in 3 increments - 3 years, 6 ,years or
10 years and equipment increments are 5 years or 10 years. Councilor Masten stated that when
you are competitive with other States as we were with Crown, you have to do what needs to be
done. However, Heartland has no place else to do their expansion and don't want to give more
for retention. Dan Doan stated that you send a negative message if you don't fully abate an
expansion - this will create additional revenue without the City having to invest anything.
Councilor Masten stated that Crown Equipment is creating 200 white collarjobs - this project is
not expected to create any newjobs. Bill Dory stated that 5 and 10 years are the only options for
equipment abatement. Past practice has been to grant 10 year abatement on the building and 5
year abatement on equipment. Crown was granted a 10 year abatement on equipment due to the
fact that the Sherwin- Williams building was no long abatable and because of edge credits.
Councilor Green stated that we don't want to treat Heartland less than Crown - the people that
work at Heartland are motivated and respected in the community.
Being no further business Councilor Masten made a motion to adjourn, seconded by Councilor
Baynard. Vote was unanimous.
l A ST: Nancy A. Mi' ael, Mayor
a J_VqTla�
• Pamela S. Jones, C er T asurer