Zionsville Times Sentinel

January 15, 2014

RDC approves purchase agreement Town Council to consider abatements

By Matt Werner Times Sentinel Writer
Zionsville Times Sentinel

---- — The Zionsville Redevelopment Commission took the first step in bringing Lids' corporate headquarters to town by approving the purchase agreement Monday night, Jan. 13.

According to the agreement, Lids will pay an estimated $577,200 for nearly 16 acres in Creekside Corporate Park at Zionsville on the south side of 106th Street between Dahlia Drive and Bennett Parkway. Lids will build a 150,000 square-foot corporate headquarters, which will employ approximately 450 people when it is estimated to be complete in late 2015.

The next step is for the town council to approve a 10-year, 50 percent real property tax abatement and a 10-year, 50 percent personal property tax abatement. Town Manager Ed Mitro said the council would most likely consider the request in the next couple of months.

George Somers, of Wallack, Somers & Haas, said the exact amount to be paid for the land will be determined after it is surveyed.

See Wednesday's Times Sentinel for the full story.