A new facility proposed to be built northwest of Shelbyville got the go ahead from the County Council at Tuesday evening’s meeting.
Browning Investments received the requested tax abatement from the council with a unanimous 6-0 vote. Council member Ben Compton (2nd District) was unable to attend.
Attorney Peter DePrez, speaking on behalf of Browning, suggested the tax benefits that the facility, which does not have an end user, would be great. The facility will be located off Frontage Road.
“They’re making a $40 million plus bet that this building is going to sell,” he said, referring to Browning’s plans to invest $40 million in Pleasant View energy. “You can project what that’s going to mean as far as taxes. People talk about Five Below and that location, you can guess what those taxes are going to be, and HIS (Constructors) and all the other stuff going on out there.”
Last year, the tract of land paid $128.50 per half year in real estate taxes, DePrez said, before calling it a “good deal.”
He went onto say it would drive more development in the area as far as tax increment financing.
DePrez and Browning Investments previously approached the council at the November meeting to ask for a preliminary resolution to designate the acreage under contract as an Economic Revitalization Area, the first step to a tax abatement.
That request was approved, leading to Tuesday’s appearance before the council.
The facility is proposed to be 925,000 square feet.
During last month’s meeting, Shelby County Economic Development Corp. Executive Director Brian Asher told the council that Northwestern Consolidated Superintendent Chris Hoke had expressed his support for the development taking shape in the school district.
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