HomeMy WebLinkAboutDCI_ Presentation_2024-04-22Department of Community Investment
April 8, 2024
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Agenda
Bill No. 24-13 Reconfirming Resolution: Property Tax Exemption for Certain Enterprise Information Technology Equipment Pursuant to Indiana Code 6-1.1-10-44 (1440 Ignition Drive; Aunalytics,
Inc.)
Bill No. 24-14 Confirming Resolution: Five-Year (5) Personal Property Tax Abatement for Steel Warehouse Company, LLC (2803 & 2920 Tucker Drive)
Bill No. 24-15 Confirming Resolution: Six-Year (6) Real Property Tax Abatement for Steel Warehouse Company, LLC (2803 & 2920 Tucker Drive)
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Aunalytics, Inc.
1440 Ignition Drive
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Bill No. 24-13: Reconfirming Resolution – Enterprise IT Equipment
Personal Property Tax Exemption (IC 6-1.1-10-44)
Exempts eligible enterprise information technology equipment for data centers
Applies the exemption to additional or replacement equipment that meets the eligibility requirements
Aunalytics received an exemption from the Common Council in 2013
Planned Expansion
Over $30 million in equipment and infrastructure
Aunalytics, Inc.
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Bill No. 24-13: Reconfirming Resolution – Enterprise IT Equipment
Reconfirming Resolution
Aunalytics is eligible to continue to receive the exemption under the 2013 exemption
The new equipment qualifies for the exemption under Indiana Code
Aunalytics, Inc.
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Steel Warehouse, LLC
2722 Tucker Drive
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Steel Warehouse, LLC
2722 Tucker Drive
Impacted parcels are 2803 $ 2920 Tucker Drive
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Bill No. 24-14: Confirming Resolution – Personal Property
Bill No. 24-15: Confirming Resolution – Real Property
Steel Warehouse plans to significantly upgrade a production line.
New machinery and equipment; expected cost of $9,050,000.
New 30,852 square foot building; expected cost of $3,500,000.
Total investment for the project is projected to exceed $14 million.
Employment Summary
Retain 21 workers currently working at this location
By the end of 2027, additional 11 full-time positions with an estimated total annual payroll of $566,134
Steel Warehouse Company, LLC
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Bill No. 24-14: Confirming Resolution – Personal Property
Personal Property Abatement (5 years)
Tax Summary
Current tax year 2023/pay 2024 personal property taxes total for the entire campus: $629,005
NEW equipment during the 5-year abatement:
Total estimated taxes: $805,443
Taxes abated: $558,743
Taxes paid: $246,700
NEW equipment, Years 6-10
Total estimated taxes: $456,315
Steel Warehouse Company, LLC
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Bill No. 24-15: Confirming Resolution – Real Property
Industrial Development Real Property Tax Abatement (6 years)
For the entire Steel Warehouse Tucker Drive campus, current estimated annual taxes: $199,203
Tax Summary – Impacted Parcels Only
Current estimated annual taxes: $26,531
Estimated annual taxes after project: $97,595
During the 6-year abatement
Total estimated taxes: $585,567
Taxes abated: $213,288
Taxes paid: $372,280
Estimated taxes paid with abatement included
After 10 years: $762,700 ($265,300 w/o the project)
After 15 years: $1,250,600 ($398,000 w/o the project)
After 20 years: $2,122,600 ($418,600 w/o the project)
Steel Warehouse Company, LLC
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