Forge seeking five-year abatement

ATI Forged Products is seeking a tax abatement on the purchase of a new furnace.
Portland City Council voted Monday evening to refer a request for a five-year tax abatement on $1.285 million to the Tax Abatement Advisory Committee for review. The committee will make a recommendation before council votes on the abatement, which will allow the phasing in of property taxes over five years.
Brian Hayes, operations manager of ATI Forged Products (commonly known as Portland Forge), said the company plans to purchase an induction furnace, which is used to heat steel. Hayes said the new furnace would help to increase productivity and allow the company to sustain jobs in the future.
In other business, council members Bill Gibson, Judy Aker, Kent McClung, Donald Gillespie, Mark Hedges and Kip Robinette, with Michael Brewster absent:
•Approved an ordinance accepting changes recently made to Portland’s Code of Ordinances. The board regularly receives a new supplement to the code of ordinances and votes to approve the changes made since the prior supplement.
•Approved a bond disclosure policy. City attorney Bill Hinkle said the policy was reviewed and recommended by Sue Beasly, Portland’s bond counselor. Hinkle said the policy will “reduce to writing” the bond disclosure method.
•Heard the mayor’s report, which was given by Gibson with Mayor Randy Geesaman absent from the meeting. Gibson reminded council members there will be a public meeting at 6 p.m. March 31 at East Jay Middle School about the Indiana 26 East (Water Street) project.