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Developer introduces proposed spec industrial project, asks council for 10‑year tax abatement
Summary
Thompson Thrift and KSF Location Advisors introduced a two‑building speculative industrial project at the northeast quadrant of I‑65 and Main Street and requested council consideration of a 10‑year real property tax abatement for roughly $22.5 million in improvements.
The Greenwood Common Council received a formal introduction of a proposed Thompson Thrift industrial development and a request for a 10‑year real property tax abatement.
Alexis Cowder, director of client services with KSF Location Advisors, presented the Thompson Thrift project and said the developer is seeking a property tax abatement for two speculative industrial buildings at the northeast quadrant of Interstate 65 and Main Street. Cowder said total estimated real estate investment would be about $22,500,000 and that the site currently produces roughly $5,000 in annual property tax from existing structures.
“Over the course of 10 years, that abates real property taxes roughly 50%,” Cowder said, describing typical abatement mechanics and noting the applicant’s…
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