Pittsboro council approves preliminary tax abatement for Faith Technologies after 3–2 vote; council member urges moratorium

The Pittsboro Town Council approved preliminary resolution 2026‑01, allowing Faith Technologies Incorporated (FTI) to receive assessed‑value tax deductions as part of a designated Economic Revitalization Area (ERA), following a 3–2 vote.

Council leadership said the proposed FTI project would consist of a roughly 500,000‑square‑foot light‑manufacturing facility on about 48 acres, with an estimated construction cost of $39 million. The council reviewed an SB‑1 statement of benefits and a financial analysis prepared by Financial Solutions Group. The SB‑1 for personal property anticipates approximately $13,500,000 in qualifying personal property and the town noted an estimated assessed value of about $31,000,000 for the real property upon project completion. The proposed abatement structure discussed was 10 years for real property and five years for qualifying personal property. The council cited Indiana Code section 6.1‑16‑1.1‑12.1 when describing the statutory basis for the assessed‑value deduction.

During debate, a council member raised concerns about infrastructure planning and fiscal impacts, asking the council to consider a pause on abatements. “The proposed real property tax abatement diverts $3,645,378 from the tax roll in the first 10 years,” the council member said, adding that the personal property impact in the analysis was $662,796. The member argued the town lacks an infrastructure master plan for the area north of Interstate 74 and recommended a moratorium on tax abatements and incentives until the town produces a master plan and a high‑level cost estimate to allocate fair developer contributions for utilities, thoroughfares and fire protection.

The council approved the preliminary resolution, and the president said a public hearing and a confirmatory resolution would be scheduled for March 3. The vote tally announced by the president was 3 in favor and 2 opposed. The motion to approve the preliminary resolution was moved by the council president and the council proceeded to schedule the follow‑up public hearing.

The council did not adopt an infrastructure moratorium during the meeting. Town staff and consultants from Grant Thornton and representatives from FTI were present to answer questions, and the council noted additional review would occur during the public hearing and confirmatory process.