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City Council to receive tax abatement statements; vote on EDIT payments

 

Monday evening the Shelbyville Common Council is due to receive compliance statements for tax abatements given to two local companies.

 

Knauf Insulation and PK USA have submitted documents required annually from all companies granted abatements on their property taxes by the council.

 

Abatements allow companies to phase in property tax payments on new investments over a period of time.

 

The annual statements are submitted by all companies getting tax abatements to show they're in compliance related to the amount of money they've promised to invest and the number of jobs created.

 

On Friday, the City Council's Tax Abatement Committee approved sending the Knauf and PK USA statements on to the full council with favorable recommendations.

 

Committee Chairman Rob Nolley (R-3rd Ward), who's also president of the City Council, said Knauf has exceeded its job commitment.

 

“And they're, they're doing well. They estimated 315 employees; they're at 384. And their estimated salaries for the abatement were $16.7 million; they're actually at $22.6 million. So I would say that they are in compliance,” he said.

 

Nolley and fellow Tax Abatement Committee member Councilman David Phares (R-At Large) voted to recommend approval of the Knauf statement to the City Council.

 

They also voted to OK the compliance statement submitted by PK USA, noting that while PK has a number of tax abatements, they've helped the company thrive.

 

Committee member Councilwoman Joanne Bowen (D-1st Ward) arrived late to the meeting, after the votes were taken.

 

Also on the City Council's agenda Monday evening are three amendments to the city's EDIT spending guidelines.

 

EDIT is the Economic Development Income Tax that everyone working in Shelby County pays.

 

Mayor Tom DeBaun is asking the council to approve a $300,000 payment from the city's EDIT fund for land the city Redevelopment Commission bought from the Presbyterian Church.

 

That property on East State Road 44, just past I-74, is to be the home of a manufacturing plant for Greenleaf Foods, making veggie burgers and sausages.

 

In addition, about 150 acres are available for economic development at the site.

 

Another amendment to the EDIT plan is a one-time payment of $110,000 for repair of a pond in the Southern Trace subdivision.

 

Drainage work done by the city inadvertently led to an erosion problem in the pond.

 

And the final EDIT plan amendment is to make a one-time payment of $25,000 to Nextsite LLC, the company trying to get retail businesses to open in Shelbyville.

 

The City Council meets at 6:30 p.m. on Monday evening in City Hall, 44 W. Washington St.

 

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