Business is booming for Smith Brothers of Berne, and controller Dave Burson went before city council Monday to request an approval of the annual tax abatement form CF-1 that states the company is in compliance with the terms of the abatement originally filed in 2005.
Indiana companies applying for an abatement are required to file a statement of benefits, stating the amount of investment the company is requesting an abatement on, as well as the number of jobs and salaries that will be created with the investment. The company is then required to file annually, for the length of the abatement, a CF-1 form showing whether they were able to meet the terms of the abatement. If the company is found to not be in compliance with the term of the abatement, the continuation may be denied.
For the complete story, see today's print or online editions.