From the Kokomo Times:
The Chrysler Group LLC has filed documentation with the Tipton County Auditor’s office requesting a tax abatement on the building. It’s the second time Chrysler has been an active participant in the future of the facility.
Chrysler Corp. LLC was one of the first investors in the property in 2007 when it partnered with Getrag Transmission of Germany. That partnership ended in 2008.
Plans to manufacture solar panels in the facility failed to materialize this year when Abound Solar filed for bankruptcy.
Greg Townsend, Tipton County auditor, said Friday that a tax abatement request was filed with his office, but he declined to make the document available.
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The plant is expected to assemble the new nine-speed transmission.
The asking price by W.W. Reynolds, who purchased the building in 2010, was $39.5 million. The original investment was estimated at $100 million. The facility was never completed.
Mike Cline, president of the Tipton County Board of Commissioners, said there is a request for a tax abatement on the property. He said attorney Rick Hall with Baker & Daniels is reviewing the document.
Cline said the tax abatement request will be considered by the commissioners at the Dec. 17 meeting.
The Tipton County Council may consider the request for initial approval on Dec. 18.
“The information will be coming out,” he said. “The company will determine when to make the announcement.”
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Scott Friend, president of the Tipton County Council said the company is requesting a 10-year tax abatement on real and personal property.
Chrysler and German transmission manufacturer Getrag, had plans to manufacture transmissions at the facility it was announced in 2007. That agreement was dissolved in 2008 when Chrysler filed a lawsuit against Getrag and Getrag Transmission Manufacturing LLC, accusing the two companies of breach of contract and fraudulent misrepresentation in their ability to get financing for the project.
Getrag Transmission filed for bankruptcy in Michigan in November.
The building was sold in 2010 to W.W. Reynolds for Colorado based Abound Solar, with $400 million in loan guarantees from the Department of Energy to manufacture solar panels. Abound Solar declared bankruptcy in July and the building was put back on the market.
http://kokomotribune.com/local/x1752047499/Chrysler-seeking-Tipton-tax-abatement
