Tuesday, April 2, 2013

NWI Reports Nagel Enterprise Granted Abatement for Investment in Crown Point and 30 Annual Abatements Renewed

From the Northwest Indiana Times:

An Indiana Avenue woodworking plant was one of several businesses in the city to be granted an annual renewal of its tax abatement.

D & L Wood Products, 615 N. Indiana Ave., won praise from city officials for its performance.

The company, in its first year of a 10-year abatement, "is continuing to grow and employ more people," said Mark Schweitzer, an at-large city councilman and a member of a recommending committee on tax abatements.
...

The City Council approved renewal of tax abatements for a total 30 businesses, including D & L Properties, owner of D & L Wood Products, based on the recommendation of the council's Human Resources and Economic Development Committee.

Many of those approved were more than halfway through the 10-year period of abatement, including four businesses in the final year, after which full property taxes are paid.

Nagel Enterprise was granted a first-time 10-year abatement for an approximately $900,000 building proposed at 11085 Virginia St., in the Crown East commercial/industrial complex.

The company's industrial engine service business currently is relocating from a building on Summit Street and wishes to remain in Crown Point, a lawyer for the business said.

http://www.nwitimes.com/news/local/lake/crown-point/crown-point-officials-grant-new-tax-abatement-renew-several-others/article_1bd91d4a-11d7-5ae8-b754-55f5670bb4a3.html