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.
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.
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.
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.
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.
Greenwood’s redevelopment commission unanimously approved the abatement at its last meeting.
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.
Becknell purchased the land for $450,000 and has plans to make about $8.25 million in improvements to it, according to city documents.
If approved, construction would start no later than June 30 and wrap up in the summer of 2020, documents said.
