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Business Owner Frustrated over Redevelopment
(posted July 16)
The Speedway Redevelopment Commission's decision to run 16th Street through
Hoosier Penn Oil means losing a business that generates an estimated $28
million to $30 million a year in sales.
Brian Johnson of Hoosier Penn Oil said "the theme is the same"
when working with the Speedway Redevelopment Commission and its promise
of getting back to you "next week." Johnson said "next week"
has been the message for the last several months, including a July 11 phone
call.
Johnson is becoming concerned about the fate of his business since the
relocation of 16th Street will cut through his building at 1501 Polco Street.
Johnson contends that he has had to initiate contact with the SRC to find
out that bulldozing is to commence in December.
Johnson realizes that the Indy 500 is world renown and that he is just
"incidental." If the bulldozers are coming by December, Johnson
needs a relocation plan soon because he can't move the business over a
weekend.
Hoosier Penn is not the type of business that can easily relocate with
its 42 tanks holding 240,000 gallons of bulk oil. Hoosier Penn is a bulk
distributor of lubricant oils and distributes for Pennzoil.
Johnson is adamant about not staying in Speedway. "I would not give
another penny to Speedway after being treated this way!"
Although Johnson leases space from Speedway Industrial Park, an aide from
the House of Representative explained that the estimated $28 million in
sales supports Speedway Schools. Its income and sales taxes fund the state's
General Fund and Property Tax Replacement Fund. "The General Fund
dollars pay for the school formula and Property Tax Replacement Credit
subsidizes school costs on behalf of the property taxpayers to reduce their
net tax bill."
Although the PTRF will be repealed in 2009, the money will be redirected
to pick up the state's obligation to pay for the school's general fund,
welfare and fire and police pensions. These levies will no longer appear
on property tax bills.
The PTRC receives 14 percent of individual income taxes, 50 percent of
sale taxes and 100 percent of riverboat wagering taxes after all other
distributions.
SRC Executive Director Scott Harris did not respond to an email about the
communication complaints that some business owners and residents complain
about when dealing with the SRC. At the July 14 Town Council meeting, he
said that appraisers would be hired for the 16th Street relocation for
right of way requirements. He said owners would be notified by certified
mail and receive phone calls about the appraisers needing access to their
property.
Councilor Jeff Hartman asked Harris if the tenants would be contacted.
Harris said they would be.
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