From the Northwest Indiana Times:
The Portage City Council last week approved a 10-year abatement for a speculative building at AmeriPlex at the Port.
Jim Fitzer, director of the Portage Economic Development Corp., said Holladay Properties is planning to invest $4.5 million in a 50,000-square-foot speculative building on AmeriPlex Drive.
Mike Mika, vice president of Holladay Properties, said the abatement will be passed on to the tenant when the building, scheduled to be completed in June 2013, is leased. He added the abatement allows the company to be more competitive in the market.
In other business, the council:
• Approved a resolution expanding the Southport Allocation Area, or tax increment financing district. The city is proposing to expand the district by adding 17 parcels targeted for purchase or special projects by the Redevelopment Commission.
...
• Approved the state-mandated anti-nepotism ordinance barring municipal employees from immediately supervising relatives who work for the city.
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http://www.nwitimes.com/news/local/porter/portage/portage-city-council-approves-tax-abatement-for-ameriplex/article_15fcf33f-624c-5819-a2dd-3e34918f138f.html
