Board approves tax exemption
June 13, 2013 by Administrator
The Park Township Board has approved an Industrial Facilities Tax Exemption Certificate sought by American Metal Fab for personal property in the amount of $768,175. The 12-year tax abatement for replacement equipment and new equipment will enable the company to retain its 58 employees and, hopefully, add to its workforce in the future. Action on the matter came during the board’s June meeting Wednesday evening (June 11).
The board also approved the township’s proposed budget for 2013-2014, a spending plan that projects total revenues for the year of $415,000. Anticipated expenses are just under $403,000.
The budget includes a $50,000 payment to Lockport Township in August as the final installment of Park Township’s share in the buyout of Lockport’s ownership in the former Lockport-Fabius-Park (LFP) Fire Department.