Following a story MHProNews last posted June 2, 2015 regarding Cavco Industries, Inc.’s request for a tax abatement following its acquisition of manufactured homes producer Fairmont Homes, the Nappanee City Council met for a public hearing on the request Mon., June 15. No one from the public spoke either for or against the abatement proposal which allows the request to continue moving forward, according to goshennews.
The first part of the abatement for $850,000 worth of manufacturing equipment is for five years beginning July 1. The second category is for information technology equipment valued at $80,000 and will run from July 1 through the end of this year. Although Mayor Larry Thompson had said the city does not grant many tax abatements, the acquisition included Friendship Homes in Minnesota, a division of Fairmont, and Cavco assured the council the 550 employees of both firms would be retained.
The council will have to approve a confirming resolution at a future meeting for the request to be validated. Cavco acquired Fairmont June 1. ##
(Image credit: Cavco Industries, Inc.)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.