Batesville, In. — Batesville city council members have approved a 10-year, 40-percent tax abatement request for Verus Partners for the construction of a $3 million 10,000-square foot building to be occupied by Cincinnati Children’s Hospital.
Current operations are run from Margaret Mary Health Hospital. President of the Economic Development Commission Kevin McGuire says the proposal would retain 30 jobs and create new positions for two registered nurses and one physician.
The new facility would have an annual payroll of more than $1.6 million per year.
During the 10-year period, the property would generate $597,280 in total tax revenue. The abatement would provide $238,000 in relief to Verus Partners and the balance ($358,370) in tax revenue to local government.
The total project would include a $3 million investment in the structure and $1 million in equipment investments. Construction could begin in the summer of 2018. The facility could open in the spring of 2019.
If the building was owned by the nonprofit hospital, no property taxes would be owed to local government.
