Resolution 22-05

This resolution designates nine parcels located at and around 1300 S. Patterson Drive as an Economic Revitalization Area (“ERA”) for Catalent Indiana LLC (“Petitioner”). This designation was recommend by the Economic Development Commission on January 31, 2022, and will enable the proposed $350 million project including the real and personal property improvements to be eligible for tax abatement. The resolution approves Petitioner’s Statement of Benefits, authorizes a ten-year period of abatement for real property improvements, a twenty-year period of abatement for personal property, and sets the deduction schedules for each. The resolution also declares the intent of the Council to hold a public hearing on March 2, 2022, to hear public comment on the ERA designation.