Biomet Seeks 10-Year Tax Abatement
July 28, 2016 at 4:25 p.m.
Biomet will ask the Kosciusko County Council for a 10-year tax abatement at the council's Sept. 6 meeting.
Thursday, attorney Richard Helm, representing Biomet, asked for the council to pass a declaratory resolution so Biomet can present their reasons for the abatement request at the Sept. 6 meeting. The resolution is the first step in the process for Biomet to get a tax abatement.
Helm said Biomet plans to build a $5.5 million building that will house new machinery and equipment valued at $4 million. "We're asking for tax abatement on both," he said.
Biomet officials estimate 250 to 300 new jobs will be created. The county will receive approximately $240,000 in taxes annually from the jobs and more than $550,000 in property taxes "over and above" the tax abatement, Helm said.
More information regarding the abatement request, Helm said, will be presented at the Sept. 6 meeting.
Councilman John Kinsey made a motion to accept the declaratory resolution.
"I think it's a good plus for the county" that there is some economic activity in the county during a downturn in the economy, said council president Jim Tranter.
Council vice president Brad Tandy abstained from voting and the council voted six to zero to approve the declaratory resolution.
In other business, the council:
• Approved an additional appropriation of $12,000 for the Kosciusko County Area Plan Commission for legal fees.
"If our county attorneys would reduce their fees, we might save some money," he said, "but that's not happening."
• Approved a transfer of funds in the county auditor's budget to finance the new Geographical Imaging System technician position. Half of the position's cost will be covered by the city of Warsaw and Kosciusko County will cover the other half. The position will be paid $10 per hour.
• Heard a report from county administrator Ron Robinson regarding the Justice Building expansion project.
"We're ahead of schedule," he said. There have been some setbacks, however, including a large piece of limestone for the building that broke and two pieces of granite that were ruined. "That's on the way, it shouldn't hold us up," he said.
Members of the Kosciusko County Council are Jim Tranter, Brad Tandy, John Kinsey, Tom Anglin, Harold Jones, Larry Teghtmeyer and Maurice Beer. Their next meeting is at 7 p.m. Sept. 6 in the county courthouse. [[In-content Ad]]
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Biomet will ask the Kosciusko County Council for a 10-year tax abatement at the council's Sept. 6 meeting.
Thursday, attorney Richard Helm, representing Biomet, asked for the council to pass a declaratory resolution so Biomet can present their reasons for the abatement request at the Sept. 6 meeting. The resolution is the first step in the process for Biomet to get a tax abatement.
Helm said Biomet plans to build a $5.5 million building that will house new machinery and equipment valued at $4 million. "We're asking for tax abatement on both," he said.
Biomet officials estimate 250 to 300 new jobs will be created. The county will receive approximately $240,000 in taxes annually from the jobs and more than $550,000 in property taxes "over and above" the tax abatement, Helm said.
More information regarding the abatement request, Helm said, will be presented at the Sept. 6 meeting.
Councilman John Kinsey made a motion to accept the declaratory resolution.
"I think it's a good plus for the county" that there is some economic activity in the county during a downturn in the economy, said council president Jim Tranter.
Council vice president Brad Tandy abstained from voting and the council voted six to zero to approve the declaratory resolution.
In other business, the council:
• Approved an additional appropriation of $12,000 for the Kosciusko County Area Plan Commission for legal fees.
"If our county attorneys would reduce their fees, we might save some money," he said, "but that's not happening."
• Approved a transfer of funds in the county auditor's budget to finance the new Geographical Imaging System technician position. Half of the position's cost will be covered by the city of Warsaw and Kosciusko County will cover the other half. The position will be paid $10 per hour.
• Heard a report from county administrator Ron Robinson regarding the Justice Building expansion project.
"We're ahead of schedule," he said. There have been some setbacks, however, including a large piece of limestone for the building that broke and two pieces of granite that were ruined. "That's on the way, it shouldn't hold us up," he said.
Members of the Kosciusko County Council are Jim Tranter, Brad Tandy, John Kinsey, Tom Anglin, Harold Jones, Larry Teghtmeyer and Maurice Beer. Their next meeting is at 7 p.m. Sept. 6 in the county courthouse. [[In-content Ad]]