Danville council approves declaratory resolution to open public hearing for 10-year tax abatement for TriK

The Danville Town Council on a 5-0 vote approved a declaratory resolution that creates the public-hearing process for a proposed 10-year personal-property tax abatement for Sparks Engineering and Manufacturing, doing business as TriK.

Joe Jason of the Hendricks County Economic Development Partnership told the council the company, owned by Gary Polk, plans to bring about $6,000,000 in new manufacturing equipment to the town and is seeking the abatement. Jason described the measure before the council as a "declaratory resolution" that simply establishes the area and triggers the public-hearing process; it does not itself grant the abatement or become law. He said the applicant needs to place an order by Dec. 15, which constrains the schedule for the public hearing and a later confirmatory resolution.

Council members asked for clarifications about whether the equipment listed represented replacement equipment or new capacity and about a line on the form labeled “less any values of property being replaced.” Jason said his understanding was that the machines are new equipment and offered to follow up with written details for council members.

The council moved and approved Resolution 23-20-25 (declaratory resolution) by roll call. According to presenters, the confirmatory resolution granting any abatement would come after a public hearing at a subsequent meeting; today’s vote authorized only the public process.

What’s next: the council will schedule the public hearing and later take a confirmatory vote if it elects to grant the abatement. The declaratory resolution does not obligate Danville to approve the tax relief.