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OFFICE OF THE CITY CLERK <br />KAREEMAH FOWLER, CITY CLERK <br />COMMUNITY INVESTMENT <br />Committee Members Present: <br />Other Council Present: <br />Others Present: <br />Agenda: <br />SEPTEMBER 12, 2016 3:45 P.M. <br />Gavin Ferlic, Regina Williams- Preston, Oliver Davis, <br />Paul Tipps, Randy Kelly <br />Bill No. 16 -70 — Designating Personal Property Tax <br />Abatement for Industrial Metal -Fab <br />Bill No. 16 -74 — Designating Personal Property Tax <br />Abatement for Imagineering Ent. <br />Bill No. 16 -68 — Designating Real Property Tax Abatement <br />For Industrial Metal -Fab <br />Bill No. 16 -72 — Designating Real Property Tax Abatement <br />For Imagineering Ent. <br />Committee Chair Gavin Ferlic called the meeting to order with four (4) bills on the agenda. <br />Bill No. -16 -68 — Designating Real Property Tax Abatement for Industrial Metal -Fab <br />Bill No. 16 -70 — Designating Personal Property Tax Abatement for Industrial Metal -Fab <br />Committee Chair Ferlic stated that there was an error in the packet. He announced that the <br />Committee would be hearing Bill Nos. 16 -70 and 16 -68 for Industrial MetalFab. <br />Sarah Heintzelman, Department of Community Investment with offices on the 14'h Floor of the <br />County City Building, stated the first abatement is for Industrial MetalFab. They are looking to <br />invest $520,000 over the course of the real and personal property investment. It will generate a <br />total of $71,105 in taxes, of which $20,167 is going to be abated. They are looking to create ten <br />(10) new jobs, totaling over $300,000 in income. <br />Kyle Bodeway, minority owner of Industrial MetalFab, his grandfather started the business in <br />1964, and we just celebrated our 50th anniversary. We've been located at 2806 Sample Street <br />since then, but we are landlocked by railroad tracks and businesses. We're looking to expand <br />455 County -City Building • 227 W. Jefferson Boulevard • South Bend, Indiana 46601 <br />Phone 574- 235 -9221 • Fax 574- 235 -9173 • TDD 574- 235 -5567 • www.SouthBendfN.gov <br />JENNIFER M. COFFMAN ALKEYNA M. ALDRIDGE JOSEPH MOLNAR <br />CHIEF DEPUTY/ CHIEF OF STAFF DEPUTY/ DIRECTOR OF POLICY ORDINANCE VIOLATION CLERK <br />