Speculative building passes second hurdle

<p>A speculative building has cleared another hurdle in Greenwood, and residents have one more chance to share their thoughts or concerns about it with city officials.</p><p>Becknell Industrial, a Carmel-based developer, wants to build a 151,800-square-foot facility and 104-car parking lot in the Southtech Business Park, off Graham Road.</p><p>The new facility, which would likely house two or three light manufacturing businesses, is expected to bring 15 jobs that pay, on average, $17.50 an hour, according to the company’s property tax abatement application. But due to the building being speculative, exactly how many jobs and the average pay is unknown at this time.</p><p>The city council on Monday approved the development and abatement for real property taxes over a 10-year period, a total of about $1.3 million, on a vote of 8-1. Council member Bruce Armstrong voted no.</p><p>Becknell would pay the city about $1.5 million in property taxes over the course of those 10 years, as opposed to the $2.8 million the city would collect without any abatement.</p><p>Greenwood’s redevelopment commission unanimously approved the abatement at its last meeting.</p><p>A public hearing is scheduled during the city council’s April 1 meeting. Council members will also take a final vote on the development and abatement at that time.</p><p>Becknell purchased the land for $450,000 and has plans to make about $8.25 million in improvements to it, according to city documents.</p><p>If approved, construction would start no later than June 30 and wrap up in the summer of 2020, documents said.</p>