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Council reopens public hearing and approves ERA for 1 11 BioPharma relocating from California
Summary
After recognizing a procedural error (a missed public hearing), the council reconsidered item 10, opened the required public hearing and approved a confirmatory resolution establishing an economic revitalization area (ERA) to allow tax abatements for 1 11 BioPharma.
Council revisited a previously approved confirmatory resolution for 12001 Exit 5 Parkway after staff and counsel noted that the required public hearing had not been held. Megan Baumgartner, director of community and economic development, explained the resolution establishes an economic revitalization area (ERA) that permits personal property tax and vacant-building tax abatements for 1 11 BioPharma, a California-based biopharmaceutical compounding company planning to relocate to Fishers.
The council voted to reconsider the earlier approval, reopened the public hearing, solicited comment (none were offered), and then voted to approve the confirmatory resolution by roll-call. The action completes the city's local process for authorizing the abatements tied to the ERA; project implementation and any abatement terms will proceed according to the city's economic development procedures.
Megan Baumgartner answered procedural questions and reiterated that the resolution is the final local step required to finalize the requested tax abatements for the company.
