With a vote of 4 to 3, the Kosciusko County
Council Thursday night approved a 10-year abatement for Louis Dreyfus — which
included 2013-2014 abatements plus a retroactive abatement for equipment placed
in 2009.
Steve Snyder, legal counsel representing
Louis Dreyfus, noted the 2013-2014 abatements would help grow more industry in
the county with two projects planned: a glycerin refinery and a soy oil
refinery. The company will also complete a significant expansion of its rail
yard with some of the work already underway.
Synder estimated an approximate total of
$40 billion worth of personal and real estate improvements.
In 2009, Louis Dreyfus had placed equipment
— $19 million in improvements — but had failed to file for an abatement. Snyder
asked the county to approve a retroactive abatement for those improvements,
noting the company had paid full taxes on the equipment for four years. He added
the equipment had also depreciated over those four years, so the company would
not be getting the maximum benefit, even if the abatement was approved.
Synder estimated the value would be
approximately $9 million presently, compared to the original $19 million.
Abatements received by Louis Dreyfus would
continue to allow the company to expand its Claypool operations. Snyder noted
that within the company there was a lot of competition, particularly from
branches of the company located in South America.
Council member Larry Teghtmeyer expressed
concern over the retroactive abatement, though he stressed he was very
pro-active for industrial development. He noted it would be starting a precedent
and would be hard to justify to taxpayers.
Councilman Jon Fussle called Louis Dreyfus
a good example, noting the company purchases locally when possible. Fussle
motioned for the abatement to be passed.
Teghtmeyer, John Graber and Jim Moyer voted against the abatement with Teghtmeyer stating his vote was done very reluctantly.
Teghtmeyer, John Graber and Jim Moyer voted against the abatement with Teghtmeyer stating his vote was done very reluctantly.
http://www.staceypageonline.com/2013/08/08/council-narrowly-approves-louis-dreyfus-abatement/
