The Plymouth Redevelopment Commission approved an agreement with the Plymouth Industrial Development Corporation (PIDCO) during their meeting on December 19th.
City Attorney Sean Surrisi reminded members that they had agreed to the agreement last year, but the official document hadn’t been created. The written agreement is associated with the development of a new industrial facility that PIDCO built to keep Plymouth Molding Group (PMG) from relocating to another city or state. PMG signed a long-term lease with PIDCO on the building.
PIDCO did not seek a Tax Abatement for the construction of the new industrial facility. Instead, they asked the Redevelopment Commission to share funds for two years after the new building begins paying property taxes.
Greg Hildebrand, CEO of Marshall County Economic Development Commission told Redevelopment members that PIDCO plans to use the funds for another project.
The agreement calls for a $30,000 payment in 2025 and another one in 2026.
In other business, Mike Miley, president of the Redevelopment Commission said it’s been a pleasure serving on the commission. He highlighted the work the commission has done including industrial improvements, helping to bring new housing to the community, and working on providing additional quality of place projects in the city. Miley thanked Mayor Mark Senter and the City Council for their appointments to the commission.
Appointments to the Plymouth Redevelopment Commission are annual, three are made by the mayor and two by the city council. Mayor Elect Robert Listenberger and the 2024 City Council will make their appointments in January.