BY BOB SHRALUKA
WZBD.com
A trio of Decatur businesses were recently given city council’s seal of approval to continue their tax abatements.
Metal N Motion, REV Recreation Group, and ABCinema had their CF-1 forms approved for another year by city council at its recent meeting.
A CF-1 form, or Compliance with Statement of Benefits, is an Indiana tax form used by companies to annually report their progress in meeting investment and job creation goals to maintain tax abatements. It compares actual project results against the estimates provided in the original SB-1 form and must be filed between January 1 and May 15.
Eric Sorg, Metal N Motion’s owner, told council that his firm still has eight employees, which was the number at the time the abatement was issued.
“We’re keeping our heads above water,” he said, adding that he believes the piece of equipment for which he received the tax abatement has played a large part in that.
Metal N Motion, 827 S. 11th St., has been in Monroeville for 13 years and this is its fifth year in Decatur.
A BIT DOWN: “We’re a bit down,” REV operations manager Rob Kowalczyk, told council, “but it’s a cyclical business.”
“We’re staying steady and ready to go back up when gas prices come down,” he added.
REV has approximately 800 employees, down a bit from 830 at this time last year, according to Kowalczyk.
Adams County Economic Director Colton Bickel, who accompanied Sorg and Kowalczyk, talked briefly about ABCinema, who had no representative at the meeting.
“It seems they are doing well,” he said of the movie theater which operates under ABC Properties.
Abatements for real property and for equipment were awarded when the theater expanded into the adjacent building to its west.
Two original abatements, given when the theater opened, have expired.
ABCinema, owned by Corey and Barb Affolder and their family, opened nearly nine years on Monroe St. downtown.
Tax abatements are on a sliding scale. A company will pay no taxes the first year, then 90% of its tax bill the second year, 80% the third, etc., until the abatements will provide tax savings of only 10% the final year.
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