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Council approves two-year vacant building tax abatement for former Studebaker administration building
Summary
Council adopted a two‑year vacant building tax abatement to support stabilization work at the 149,000‑square‑foot former Studebaker administration building at 635 South Main Street; developer representatives said the abatement will help fund roof and window repairs and other stabilization work.
The Common Council unanimously adopted Resolution 25‑06 on Jan. 27 designating 635 South Main Street — the former Studebaker administration building — as an economic revitalization area and approving a two‑year vacant building tax abatement for Studebaker Admin Q O Z B, LLC.
Joe Molnar, assistant director of growth and opportunity, said the property is a 149,000‑square‑foot historic structure that has been vacant for roughly two decades and is in need of structural stabilization, roof repairs, window replacement and environmental remediation. He said the developer closed on the property within weeks of the meeting and proposed an initial stabilization investment of about $920,000, undertaken in coordination with the Redevelopment Commission for environmental remediation.
Developer representative Kevin Smith said he intended to make the building a southern gateway to the community and noted prior work with local preservation partners. Council members praised the public‑private partnership and expressed support for the stabilization effort, citing the building’s historic value and the risk of demolition if no action were taken.
Molnar provided a tax estimate showing the building’s current tax obligation over the two‑year abatement period would be about $30,000; the proposal would abate about $20,000 and leave roughly $10,000 payable during the two‑year window. Council members voted to adopt the resolution with no opposition.
The abatement is limited to the vacant‑building stabilization and is not an approval of a redevelopment plan; future redevelopment or rehabilitation plans will require further approvals and potentially additional incentives.
