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O�SpUT$8�� <br /> U C <br /> W PE y <br /> ■ <br /> 1865 <br /> OFFICE OF THE CITY CLERK <br /> KAREEMAH FOWLER,CITY CLERK <br /> COMMUNITY INVESTMENT FEBRUARY 27, 2017 3:35 P.M. <br /> Committee Members Present: Gavin Ferlic, Regina Williams-Preston, Oliver Davis, <br /> Randy Kelly, Will Smith*, Paul Tipps* <br /> Committee Members Absent: None <br /> *- Denotes citizen member not yet sworn in <br /> Other Council Present: John Voorde, Dr. David Varner, Karen White <br /> Other Council Absent: Tim Scott, Jo M. Broden <br /> Others Present: Adriana Rodriguez, Aladean DeRose, Kareemah Fowler, <br /> Graham Sparks, Brian Pawlowski <br /> Presenters: Aaron Kobb, Jeff Smoke, Mark Neal <br /> Agenda: Bill No. 17-08- Designating Tax Abatement for GLC <br /> Portage Prairie III <br /> Bill No. 17-09—Designating Tax Abatement for Hibberd <br /> LLC <br /> Committee Chair Gavin Ferlic called the Community Investment Committee meeting to order at <br /> 3:43 p.m. He then gave the floor to Community Investment to discuss Bill No. 17-08. <br /> Bill No. 17-08- Designating Tax Abatement for GLC Portage Prairie III <br /> Aaron Kobb, Community Investment with offices on the 14th floor of the County-City Building, <br /> stated, This abatement is for GLC Portage Prairie III. They are investing approximately $13.5 <br /> million toward the construction of a three hundred fifteen thousand(315,000) square foot <br /> commercial and light assembly facility north of Adams Road. The rezone was done at the last <br /> meeting so you all are probably pretty familiar with the project. Like Brian mentioned at the last <br /> meeting, we are looking at different ways that DCI approaches the incentives of these projects. <br /> This is in hope to meet both the needs of the developer and the City. We think the petition before <br /> you accomplishes that. After the six (6) year abatement is complete,the project will generate <br /> approximately $303,000 of annual tax revenue. Those will go straight into the TIF Fund. Last <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.SouthBend[N.gov <br /> JENNIFER M.COFFMAN ALKEYNA M.ALDRIDGE JOSEPH MOLNAR <br /> CHIEF DEPUTY/DIRECTOR OF DEPUTY/DIRECTOR OF POLICY ORDINANCE VIOLATION CLERK <br /> OPERATIONS <br />