BY SUSAN BROWN, Times of Northwest Indiana
sbrown@nwitimes.com
MUNSTER | The town has adjusted its tax abatement requirements, but town leaders caution companies the complex matrix is just a guide.
Depending on the number of points a company earns for such criteria as job creation and retention, project size and scope, and aesthetics, it can be awarded a three-, six- or 10-year property tax abatement.
The total scores a company must achieve have been tightened, according to information provided by Assistant Town Manager Matthew Fritz.
A company must achieve a score of 85 percent to earn a 10-year abatement, up from 70 percent. Six-year abatements are up from 60 percent to 75 percent. The three-year abatement is unchanged at 50 percent.
Landscaping has increased in relevance from a value of 2 points to 7, and projects incorporating innovative environmental aspects may be eligible for additional points.
Fritz told the council a comparison between the old and the new model shows Pepsi's pending bottling unit is eligible for a six-year abatement, which is the same as the company's last project. The Times and Peoples Bank, however, would have seen a reduction under the new matrix.
Incoming Town Council President Michael Mellon said the council asked for and adopted the changes, but the council also can throw them out.
Mellon said the public and any applicants should realize the town's involved tax abatement matrix is always a work in progress.
"It's just a tool the council uses in making its decision," Mellon said. "Ultimately it's based on the merits of the project."