Fortville Town Hall. Daily Reporter file photo
FORTVILLE — The Fortville town council is allowing tax breaks to continue for three Fortville businesses.
Officials approved the tax abatements for Debo Cook Properties, Taxman Brewing Co., and Thursday Pools at the Monday, May 2 meeting.
When the companies were first given the abatements, they reported their expected investments in improvements, their estimates on assessed value, and how they expected staffing and wages would grow over the course of the 10-year abatement. The council reviews that information annually before determining whether to continue granting the company the tax breaks.
The council unanimously found each company in compliance for its abatement.
These three are the town’s only abatements, with the abatements running for the standard total of 10 years, and the tax break decreasing in amount each year. Taxman Brewery is in year six of its original abatement, Thursday Pools’ first abatement came in 2014, and Debo Cook Properties just recently received its abatement.
Debo Cook’s abatement is for two new buildings at the industrial park located at W. 1000 North. The first building permit was issued and approved on Monday, while the second building’s plans have yet to be submitted.
According to planning and building director Adam Zaklikowski, the plans for the site were approved by the town’s plan commission, and everything is moving as anticipated on the beginning of building one.
“Luckily, it’s the same developer that had proposed the project originally last year, and the plans that they showed are consistent,” Zakilkowski said. “Everything is moving as planned for that first building.”
The abatement for Taxman Brewing Co. was approved for the sixth straight year for its location at 29 S. Main St., which opened in 2017.
At the time of approval in 2016, the company estimated that they would have over 30 employees, and the total amount of company wages would exceed over $600,000. As of now, they have only 17 employees, but the total wages are up from the expected amount and now exceed over $710,000.
For the council, that was enough to approve the abatement once again.
In the six years of tax breaks, Taxman Brewing Co. has saved about $49,600.
Thursday Pools, located at 840 Commerce Parkway, has four total tax abatements. Two were issued in 2014 and the other two came in 2018. The first abatement was for the construction of the company’s original building, the second was for an addition to the first building, while the other two are for new molds and equipment to make its swimming pools.
