Wabash City Council approves $185K abatement for developer
By Kaitlin Gebby | Wabash Plain Dealer
The Wabash City Council approved real estate improvements and a tax abatement related to the construction of a new housing addition by Biggs Indiana Properties during their regular meeting on Monday.
Biggs Indiana Properties LLC is developing housing at Chippewa Place, located near Niccum Road. They started on the Chippewa Place project in 2016 when the company came into ownership of the complex. According to previous statements from Field Superintendent Matt Scott, the former development owners had a partnership that “fell apart,” allowing their company to move in and restore the nearby lots.
During Monday’s meeting, the council accepted the statement of benefits from seven properties related to the new residential construction at Chippewa Place. Homes in development at that location include duplex-style housing and condominiums. The combined net assessed value of the properties approved by the council Monday night exceeded $1.18 million, some of which included properties that were works in progress last year when the council approved abatements for the new structures.
Biggs Indiana Properties requested an additional abatement for 25 Cherokee Court, a new property listed as a condo in the Chippewa Place project. The council approved the $185,192 abatement for the addition, which included an estimated $27,500 for the lot, $70,961 in materials, and an estimated $86,730 in labor costs.
The approved deduction, as well as previously approved tax abatements, are good for five years.