Commission approves USCO Industries development, 10-year tax abatement for 5009 Calumet Avenue

The Hammond Redevelopment Commission approved a development agreement and a sale of 5009 Calumet Avenue to USCO Industries Inc. and Bogey Club LLC on a recorded roll call (4 yes, 1 absent).

Attorney Westlund and staff described the project as a 70,000-square-foot facility for an overhead bridge-crane manufacturer. Staff said the developer would invest about $25,000,000 in the site, with an initial workforce of roughly 50 employees expanding to more than 100 within five years. The commission also agreed to support a proposed 10-year real estate and personal property tax abatement and a 95% financing structure that the redevelopment commission would underwrite as a forgivable loan, with 20% forgiven each year contingent on performance.

"They're going to construct a 70,000 square foot facility, industrial in nature," the presenter said, describing the company as an "overhead bridge crane manufacturer" that expects to create accessible jobs with cross-training and incremental raises. The staff description also noted a proposed annual imposed fee of 15% as part of the incentive package.

Commission discussion touched on the financing and incentive structure but recorded no dissent; Commissioner Shelton moved approval and the motion passed on roll call. The motion, the sale price ($681,187.50), the abatement support, and the described jobs and investment figures were all presented on the record.

Next steps indicated in the meeting record include finalizing the purchase closing and forwarding the commission's support to the city council for the tax-abatement approval required from that body.