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ittti~}` ~'-~ <br />~ ~ ~~ <br />E ~.)~. <br />~~ 4'~`~~ COMMUNITY AND ECONOMIC DEVELOPMENT COMMITTEE <br />MAY 24, 2010 <br />Chairperson Timothy Rouse called the Community and Economic Development <br />Committee meeting to order at 4:00 p.m. <br />Committee Members Present: Ann Puzzello, Henry Davis, Karen White <br />Other Councilmember's Present: Derek Dieter, Tom LaFountain, David Varner, Oliver <br />Davis, Al "Buddy" Kirsits <br />Other's Present: Bob Mathia, Mayor Luecke, Gary Gilot, Barbara Huber, Dan Herbster, <br />Issac Hunt John Byorni, Charles Watkins, Billy Gene Easton, Chuck Leone, tom Bush, <br />Dave Ryan, Curtis Voreis, Rita Kopala, Kathleen Cekanski-Farrand, Nevin Sequira <br />Agenda: Bill No. 10-26 -Tax Abatement 2629 Foundation Value Production Inc. <br />Chairperson Rouse began the hearing noting a full committee present as well as all other <br />Councilmember's. Chairperson Rouse then asked Bob Mathia to present a report on the <br />Economic Development Departments findings. He said the project was to acquire and <br />install new manufacturing equipment at a cost of $1.5 million dollars. If the 5 year <br />abatement was granted an estimated $41,882 in taxes would be abated and over $124,000 <br />paid over the period. Bob said the company had met all criteria for abatement. Nevin <br />Sequira owner of Value Production said the abatement would create 4 new jobs and <br />solidify 23. <br />Turning to the Council portion for questions, Chairperson Rouse recognized Derek Dieter <br />who asked if Value Production honored pledges made in earlier abatements. The answer <br />was yes. Councilmember Henry Davis asked about the training program required for <br />jobs at Value. Councilmember Puzzello expanded that query while Councilmember <br />White asked about the diversity of the workforce. After Mr. Sequira answered <br />Councilmember Henry Davis motion to approve. Councilmember Puzzello seconded and <br />all affirmed. <br />There being no further business to come before the Committee, Chairperson Rouse <br />adjourned the meeting at 4:13 p.m. <br />Respectfully Sub itted,A <br />°--~ C ~( . <br />,1 <br />Timothy A. Ro ,Chairperson <br />Community a conomic Development Committee <br />