The Montgomery County Council approved two resolutions that will enable Nucor Coatings to have a tax abatement on their newest project in the Nucor Corridor.
The council gave the company a waiver of noncompliance and confirmed the Nucor Coatings Allocation Area is an Economic Revitalization Area. The tax abatements are for the estimated amount of $71 million in real estate and $435.5 million in manufacturing equipment located at the new facility.
The real property tax abatement is for 10 years and the personal property, or manufacturing equipment, is a 20-year tax abatement.
The council heard about plans for the Ladoga/Clark Township Library expansion. The library board wants to expand the present facility to accommodate more users.
Representatives from Baker Tilly explained the plan to fund the new project including a new bond.
The plans include an addition with a basement and two floors.
Library representatives will come to the council at a later date to receive final approval of the plan from the council. The amount of the addition is estimated to be $2.5 million.
Montgomery County Sheriff Ryan Needham received approval to purchase a new drone in the amount of $17,815. Funding will come from the jail’s commissary funds which has an approximate balance of $275,000. The sheriff said his office will have six individuals trained to use the new drone.
County financial advisor Jeff Peters presented a quarterly financial report. He said the county has done a good job in building cash reserves in particular of the many questions the state legislators have stirred with the new property tax disbursements to be finalized in 2028.
Peters made mention that the increase of appraised evaluation in the city, which totals approximately $100 million, will help ease the burden of the new state real estate tax laws.
He also stated the efforts to build new homes should help increase income tax collected in the future.
“The city and county are benefitting in building new housing which will increase tax revenues,” Peters said. “What the city has done is important going forward with the changes coming from the state.”
County Highway Superintendent Jacob Lough reported there is a delay in receiving environmental approvals for the Nucor Overpass and two bridge projects. The delay means letting for bids will take place later in the year rather than the spring as originally planned.
The council heard a report from Crawfordsville Area Transportation which started providing rides for individuals county-wide in the county. The council saw statistics on the growth of the program making it obvious residents are using the new program.
The ridership has increased 18% since the first of the year and excursions to rural Montgomery County have expanded. Presently the demands for transportation are higher than capacity which will be addressed going forward.
The next council meeting scheduled for 9 a.m. May 12 in the Montgomery County Government Center.
