July 23, 2014 at 2:10 p.m.
Qualtech abatement OK'd (12/21/04)
Council approves phase-in of new taxes for Portland industry
By By Rachelle Haughn-
The Portland City Council voted Monday to approve one tax abatement request and to send another to the Portland Tax Abatement Advisory Committee for review.
Council members approved a five-year tax abatement for Qualtech Tool & Engineering, 103 Performance Drive, for the purchase of a $67,000 bore.
The new equipment will create two new jobs with salaries totaling $41,600.
Jay County Development Corporation executive director Robert Quadrozzi said the committee discussed Qualtech’s request over the telephone and voted unanimously to approve it.
Also Monday, the council voted to send a tax abatement request by another Portland business to the advisory committee.
Pennville Custom Cabinetry, 600 E. Votaw St., is requesting a 10-year tax abatement to expand its current facility.
The expansion is expected to create three to five new jobs with salaries totaling $60,000 to $100,000.
Company president Mark Goldman said the 3,300-square-foot addition would cost an estimated $120,000. It would be built on the north end of the business. He said the expansion is needed because the company’s operation is growing and profits are up. This means the company needs more employees and more space.
“This expansion allows us to go to the next level,” Goldman said.
A tax abatement allows companies to pay taxes in increasing increments over several years, instead of paying the full amount each year.
Also Monday, council members:
•Voted to move $119,200 of unused street and park department funds into a line item for the Lincoln Street project.
City clerk-treasurer Barbara Blackford said this morning the project includes resurfacing the street and sidewalks, adding street lights and doing sewer and water line work. The funds were intended to be used this year for street repairs and maintenance and equipment.
•Made the decision to transfer $50 of unused funds for repairs and maintenance of city hall into the council office supplies fund.
•Approved a request by city attorney Bill Hinkle that the former fire station, which is located on Commerce Street, be appraised.
Portland Mayor Bruce Hosier said the building must be appraised before it can be put on the market.[[In-content Ad]]
Council members approved a five-year tax abatement for Qualtech Tool & Engineering, 103 Performance Drive, for the purchase of a $67,000 bore.
The new equipment will create two new jobs with salaries totaling $41,600.
Jay County Development Corporation executive director Robert Quadrozzi said the committee discussed Qualtech’s request over the telephone and voted unanimously to approve it.
Also Monday, the council voted to send a tax abatement request by another Portland business to the advisory committee.
Pennville Custom Cabinetry, 600 E. Votaw St., is requesting a 10-year tax abatement to expand its current facility.
The expansion is expected to create three to five new jobs with salaries totaling $60,000 to $100,000.
Company president Mark Goldman said the 3,300-square-foot addition would cost an estimated $120,000. It would be built on the north end of the business. He said the expansion is needed because the company’s operation is growing and profits are up. This means the company needs more employees and more space.
“This expansion allows us to go to the next level,” Goldman said.
A tax abatement allows companies to pay taxes in increasing increments over several years, instead of paying the full amount each year.
Also Monday, council members:
•Voted to move $119,200 of unused street and park department funds into a line item for the Lincoln Street project.
City clerk-treasurer Barbara Blackford said this morning the project includes resurfacing the street and sidewalks, adding street lights and doing sewer and water line work. The funds were intended to be used this year for street repairs and maintenance and equipment.
•Made the decision to transfer $50 of unused funds for repairs and maintenance of city hall into the council office supplies fund.
•Approved a request by city attorney Bill Hinkle that the former fire station, which is located on Commerce Street, be appraised.
Portland Mayor Bruce Hosier said the building must be appraised before it can be put on the market.[[In-content Ad]]
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