Panel OK's Tax District at Exit 10
Panel OK’s Tax District at Exit 10
April 4, 2007—Paraphrased Article from Indianapolis Star
By: Bruce C. Smith
Fishers declared last week, several hundred acres on the east and west sides of Exit 10 and I-69, on Olio Road as an economic development area. This means selected companies may be eligible for tax breaks in the future. Mostly in Saxony, the 735-acre mixed use development planned by Republic Development, no homes will be affected by this plan.
The creation of the economic development area is the first of many steps before such deals can be approved. Town leaders expect the developers to ask for these incentives in exchange for their investments on the booming interchange of I-69 and Exit 10.
Tuesday, the Town Council will hold a meeting for the confirmation of the boundaries and creation of the economic development area. These tax-increment finance districts are in place for the funding of utilities and streets within the district.
Included in this area will be the 95-acres within Saxony that Clarian Health Partners recently bought with plans of medical and sports medicine centers. St. Vincent Hospital has plans to buy 25 acres on adjacent to the piece of land that Clarian just bought. Also, Community Health Network already has one building open on Olio Rd.
