Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Industrial Development topic
No spam. Unsubscribe anytime.
Sparta council approves 12-year IFT abatement for Baker Investment's Hickory rehab
Summary
The Village Council unanimously approved Resolution 24-25 on Oct. 14, granting Baker Investment LLC an Industrial Facilities Tax abatement for $906,492 in plant rehabilitation at 278 Hickory, abating half the tax burden for 12 years to support local investment and job creation.
SPARTA, Mich. — The Village of Sparta on Oct. 14 approved Resolution 24-25, granting Baker Investment LLC an Industrial Facilities Tax (IFT) abatement for rehabilitation work at 278 Hickory. The application requests an abatement on $906,492 of investment, with half of the tax burden abated for a 12-year period. The council voted unanimously to approve the resolution on a motion by Council Member Brenda Braybrook and a second from Council Member Robert Carlstrom.
Village Manager Jim Lower presented the IFT request and noted the application states the abatement would help create local jobs. The property owner, Rex Baker, was present at the public hearing but there were no public comments. President Robert Whalen thanked Baker for the investment in the community before the vote.
The IFT is a state-authorized tool commonly used in Michigan to incentivize industrial investment by temporarily reducing property tax burdens on qualifying equipment or rehabilitated plant property. Council members did not raise questions during the meeting; the resolution passed unanimously. The council did not set additional conditions during the meeting. Future reporting on any required compliance, job-creation benchmarks, or the abatement’s effect on local taxing entities was not specified in the minutes.
