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Mooresville council approves tax abatements for two speculative industrial buildings in Innovation Park
Summary
The Mooresville Town Council approved two confirmatory resolutions granting tax abatements to CTC for two speculative industrial buildings in Innovation Park 67 after a public hearing; council votes were unanimous.
Mooresville Town Council on Jan. 21 approved two confirmatory resolutions granting tax abatements to CTC for speculative industrial buildings in Innovation Park 67.
The council passed Resolution 3-2025 and Resolution 4-2025 after a public hearing where company representatives described prospective tenants and the intended sizes of the two spec buildings. The measures passed on voice votes recorded as 5-0.
At the hearing, Steve Shaw, a representative for CTC, said the developer has proposals and prospects that make the rail-served park attractive to manufacturers. "We've got a proposal out to a manufacturing company for a 125,000 square feet facility that needs the rail," Shaw said. He said the developer plans a 4,000-square-foot spec building and a 30,000-square-foot building to be delivered later this year, and estimated additional prospects from Louisville for a 20,000-square-foot facility.
Chris Vinny, one of the owners and sales project manager at CTC, said the abatements reduce the cost for potential tenants and help recruit firms that otherwise might stay in larger nearby cities. "The tax abatement helps drive the cost down for the client," Vinny said.
Council members closed the public hearing on Resolution 3-2025, moved to approve it and recorded the vote as 5-0 in favor. The council followed the same sequence for Resolution 4-2025 — closing the public hearing and approving the measure 5-0. During discussion, council members clarified that the two spec buildings would be offered for lease or sale; if a building were sold, any abatement transfer to a new owner would need council consideration.
The record at the hearing included a comment by a representative that the second building discussed corresponds to a $1,400,000 figure and was the smaller of the two projects under consideration. Council President closed the item by encouraging the developers to "build your buildings" and to continue development activity in the park.
No opponents spoke during the public hearings. The transcript does not specify who moved or seconded the approval motions; the council recorded the outcomes as unanimous approvals.
