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Brownsburg council approves personal property abatement for 'Project Falcon,' advances taxable bond ordinance
Summary
The Brownsburg Town Council voted to approve a personal property tax deduction abatement for an unnamed employer called Project Falcon and advanced an ordinance to allow taxable economic development bonds, with officials stressing the town will not be legally liable for the debt.
The Town of Brownsburg Town Council on Oct. 23 approved a declaratory resolution to grant a 10-year personal property tax deduction abatement for a confidential project labeled “Project Falcon” and voted to advance an ordinance authorizing taxable economic development revenue bonds for the project to first reading.
Town staff said the project will locate a new headquarters and production facility in the Ronald Reagan Logistics Center and represents one of the town’s largest-ever private investments. “They plan to relocate 1,776 existing jobs to Brownsburg and create over 300 new jobs,” the presenter said. Staff estimated a personal property investment of about $95,000,000 and said the project’s overall investment would be about $435,000,000.
The resolution authorizing the abatement (Resolution 20 25‑21) passed after a motion from council. At the same meeting the council approved on first…
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