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Council holds public hearing, approves confirmatory resolution for 111 BioPharma relocation and ERA
Summary
Council reopened the record and held the required public hearing before approving a confirmatory resolution that establishes an Economic Revitalization Area (ERA) and allows tax abatements for 111 BioPharma, a company relocating from California to Fishers.
Fishers City Council reopened the record, held a public hearing and approved a confirmatory resolution establishing an Economic Revitalization Area (ERA) that enables personal property and vacant-building tax abatements for 111 BioPharma, a company relocating from California to Fishers.
Megan Baumgartner, Director of Community and Economic Development, described the item as “the final step in the abatement approval for 12001 Exit 5 Parkway” and said last month the council approved a declaratory resolution announcing 111 BioPharma’s planned relocation. She said the confirmatory resolution is required to finalize personal-property and vacant-building tax abatements tied to the company’s move.
Council initially approved the item without a public hearing in error; the council then voted to reconsider the prior passage, opened the public hearing, asked for comments and, seeing none, closed the hearing and re-voted. No members of the public spoke during the re-opened ERA public hearing. The council then voted by roll call to approve the confirmatory resolution; all members present voted in favor.
Council President Pete Peterson noted the correction in procedure and the city completed the required public hearing process before finalizing the abatement confirmation.
