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Council approves 5-year, 100% abatement for Trademark Properties’ planned Tell Street apartments
Summary
Council ratified Resolution 2026-12, approving a five-year 100% tax deduction for Trademark Properties’ proposed multifamily development (up to 32 bedrooms/units) contingent on findings in the statement of benefits and prior notice; the project awaits final IEDC approval, the applicant said.
The Tell City Common Council unanimously adopted Resolution 2026‑12 confirming earlier action approving a tax-abatement application by Trademark Properties LLC for a proposed multifamily apartment project on Tell Street.
Counsel read the confirmation resolution and recited statutory findings required by Indiana Code. The resolution finds the redevelopment’s estimated value, the anticipated employment retention or creation, and the totality of benefits sufficient to justify maximum deductions for a five‑year period (the transcript records those deductions applying to tax years stated as 2029–2033). Counsel also confirmed required notices were published and said no remonstrances had been filed.
Carol Hegarty, representing Trademark Properties, told the council the project is tied to a Ready 2.0 funding stream and is awaiting full approval by the Indiana Economic Development Corporation (IEDC). “We are requesting the tax abatement to help with, you know, commitments and to help move the project forward,” Hegarty said. She estimated a 13–14 month construction timeline from breaking ground to final certificate of occupancy but said the developer remains in limbo while awaiting the IEDC’s deeper review.
The resolution states the project would include up to 32 bedroom units on Lots 1 through 12 in Block 292 and that Trademark would be entitled to the maximum deductions provided by the cited Indiana code section for the approved five‑year period. Council adopted the resolution by voice vote; the record shows the city confirmed prior action (Resolution 2026‑10) and ratified that approval.
Next steps for the developer are final IEDC approval and permitting; council documents indicate the abatement will be administered according to the proposed statement of benefits and the applicable Indiana Code provisions.
