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Community Investment committee advances Lafayette Falls annexation fiscal plan and three tax-abatement requests
Summary
The committee forwarded the Lafayette Falls annexation fiscal plan and three tax-abatement items to the full council with favorable recommendations: a two-year vacant building abatement for the Studebaker administration building, and real- and personal-property abatements tied to a GTA Containers expansion.
The Community Investment Committee forwarded a fiscal plan for the Lafayette Falls annexation area and approved favorable recommendations for three tax-abatement measures: a vacant building abatement for the Studebaker administration building and two abatements to support a GTA Containers expansion.
Skip Morrell, principal development planner, summarized the Lafayette Falls annexation fiscal plan. The proposal covers roughly 45 acres south of the earlier Lafayette Falls phase and west of US-31; planned development was described as roughly 100 to 110 single-family lots. Morrell said no city capital improvements are planned as part of the annexation; water is available from streets to the north. The committee voted to send Bill 25-04 (the fiscal plan) to the full council with a favorable recommendation.
On the vacant-building abatement, Joe Molnar of Growth and Opportunity described Bill 25-06, a two-year vacant-building tax abatement for 635 South Main Street, the former Studebaker administration building. Molnar said the new owner, Studebaker Admin QOZB (represented by Kevin Smith), plans $920,000 in stabilization work including roof and window repair and environmental remediation; the building is 149,000 square feet. Molnar said current annual taxes are about $15,000 and the two-year abatement would abate roughly $20,000 over that period. Kevin Smith told the committee he's worked to acquire and stabilize the building, and that Indiana Landmarks has reviewed proposed work. Bill 25-06 was sent to the full council with a favorable recommendation.
The committee also considered two abatements supporting a GTA Containers expansion at 445 North Sheridan. Mark Bamendofer of business development and partners from Great Lakes Capital and GTA Containers explained the project: an $8.8 million investment in a new 112,000-square-foot facility and $2.3 million in new equipment; GTA currently employs about 143 people and expects to add about 15 full-time positions by the end of 2027. The committee voted to send Bill 25-07 (an eight-year real property abatement) and Bill 25-08 (a five-year personal property abatement) to the full council with favorable recommendations.
All four items were moved by committee motion and passed committee votes recorded as favorable; there was limited public comment during the committee hearings. Each motion will appear on the council agenda for final consideration.
