The City of Indianapolis is initiating a speculative 10-year tax abatement pilot program for projects in Franklin Township (Southeast corner of Marion County).  Download the Franklin Township Speculative Tax Abatement Program brochure.

The program focuses on six areas within Franklin Township, including:

• Emerson Avenue and County Line Road (Map)
• Arlington Avenue and County Line Road (Map)
• I-74 and Post Road (Map)
• 7455 Company Drive (Map)
• Southeastern Avenue and Franklin Road (Map)
• I-465 and Emerson Avenue (Map)

Download the Franklin Township Developable Parcel Map.

For a project to qualify for tax abatement, it must meet all of the following criteria:

• The subject real estate must be within the geographical area of Franklin Township.
• An applicant must submit a Real Property Tax Abatement application and Statement of Benefits Form to the Department of Metropolitan Development for review.
• The project must be located in one of the six areas defined on the above map.  Proposed buildings must be at least 50,000 square feet in size.  Other vacant parcels within Franklin Township may be considered at the discretion of City staff.
• The proposed use of the eligible building must be conforming with applicable zoning regulations and standards; provided, however, the following uses shall not be eligible for the tax abatement:  residential uses, strip malls, hotels, game centers, adult bookstores or adult entertainment business, tattoo parlor, nightclub, drinking place (including bars or taverns), check cashing or payroll advance service, gun storage/range, pawn shop, pool/billiard hall, liquor store, blood plasma center, or any other use as determined by staff in its reasonable discretion.

How the Program Works

• The length of the partial abatement of property taxes for approved projects shall be 10 years.
• An applicant must submit an application and statement of benefits form to the Department of Metropolitan Development by December 31, 2009 , to be considered for this abatement.
• The property must be constructed within 12 months from the date of the application.
• At least 50% of the property must be occupied within 18 months from the date of completion.
• In the event the property is not at least 50% occupied within 18 months from the date of completion, the City of Indianapolis may terminate the tax abatement.

The Process of Applying For the Abatement

• Obtain an application and Statement of Benfits form (SB-1/RE) from the Department of Metropolitan Development (200 East Washington Street, Suite 2042) or at /eGov/City/DMD/ED/Resources_Tools/forms.htm#abatement
• Submit the application in draft form to the Economic Impact Analyst at 200 East Washington Street, Suite 2042, Indianapolis, IN  46204 or fax to (317) 327-5908.
• Once the application is received, staff will review the draft application to see if it meets the speculative tax abatement pilot program guidelines.
• If the criteria are met and support is offered for tax abatement, the the SB-1/RE will go before the Metropolitan Development Commission for approval (preliminary and public hearing).  In addition, the City of Indianapolis requires tax abatement applicants to enter into a Memorandum of Agreement, which sets forth the commitments associated with the project.
• Once final approval is granted by the Metropolitan Development Commission, the applicant will need to file form 322 ERA after the property has been reassessed by the Franklin Township Assessor and form CF-1 with the Marion County Auditor.