FINANCIAL_SERVICESRECOMMENDED

Metropolitan Development Commission Agenda Packet 2026-06-17

Five-Year Tax Abatement Proposed for Olson Custom Designs

5-year personal property tax abatement; estimated tax savings approximately $467,511.00 over five yearsCity of IndianapolisOLSON CUSTOM DESIGNS LLCJune 17, 2026

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Description

The Metropolitan Development Commission advanced Preliminary Resolution 2026-A-027 to provide Olson Custom Designs LLC a five-year personal property tax abatement for $15 million in new CNC and automation equipment at 6803 Coffman Road. The proposed ERA designation limits eligible investment to $15 million and offers a declining abatement schedule, pending a July 1, 2026 public hearing and final approval.

Contract Details

Contract Amount

5-year personal property tax abatement; estimated tax savings approximately $467,511.00 over five years

Vendor

OLSON CUSTOM DESIGNS LLC

Agency

City of Indianapolis, IN

Contract Type

FINANCIAL_SERVICES

Document Date

June 17, 2026

Contract Term

Abatement period of five (5) years; ERA designation effective for equipment installed July 1, 2026 to December 31, 2030

Renewal Date

2030-12-31

Renewal Info

ERA designation for specified new equipment terminates December 31, 2030; abatements on qualifying equipment installed during the designation period may run up to five years. The resolution caps abatement benefits at investments not exceeding $15,000,000 and does not provide automatic renewal.