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r �O4SpOTH \PEACE a X x 1865 OFFICE OF THE CITY CLERK KAREEMAH FoNVLER, CITY CLERK COMMUNITY INVESTMENT SEPTEMBER 24, 2018 3:30 P.M. Committee Members Present: Gavin Ferlic, Regina Williams-Preston, Sharon L. McBride Committee Members Absent: Oliver Davis Other Council Present: Tim Scott, Jo M. Broden, John Voorde, Jake Teshka, Karen White Other Council Absent: None Others Present: Bianca Tirado, Graham Sparks, Bob Palmer, Gabriel Murei Presenters: Dan Buckenmeyer, Troy Adams Agenda: Bill No. 18-53-National Distribution Centers, LLC Designating Tax Abatement Committee Chair Gavin Ferlic called to order the Community Investment Committee meeting at 3:30 p.m. He introduced members of the Committee and proceeded to give the floor to the presenters. Bill No. 18-53-National Distribution Centers,LLC Designating Tax Abatement Dan Buckenmeyer, Director of Business Development for the Department of Community Investment with offices on the 14th floor of the County-City Building, stated, Today we are here to talk about a tax phase in for a local company that is doing some new construction and expansion. I always like to zero us in on where we are talking about, for starters, so, we are up in Portage Prairie here (referencing a slide in a presentation which is available in the City Clerk's Office). We are specifically north of Cleveland and Brick here on Dylan Drive. It is a twenty (20) acre parcel.This is a great opportunity.I always say that,but it is.We have,here,a retention opportunity to keep a company in town that, on paper, shouldn't be here. They are here, presently, but their own internal research shows they would be better off in Fort Wayne. They have one hundred and eight (108) current employees that they want to hold on to so, for those reasons, they are looking to reinvest in South Bend. We are thrilled to hear that. He continued, I would like to make a few quick points. The parcel was assessed at $23,500 this year and they are looking at buying it for nearly $1 million. They are looking at a private investment of real property of about $14 million and then we do expect another $4.1 million in personal property, machinery and equipment. Once that gets tied down, we will come back and talk about a personal property tax abatement. But again,we are talking about a north of$18 million investment in town. Presently,the property out there is generating seven hundred and five dollars INTEGRITY1 SERVICE1 ACCESSIBILITY JENNIFER M.COFFMAN' BLANCA L.Twxo JOSEPH R MOLNAR CHIEF DEPUTy/DIREGTOR OF OPERATIONS DEPT y/Dnu=oR OF Poucy ORDINANCE VIOLATION CLERK EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT 455 County-City Building 1 227 W.Jefferson Blvd.I South Bend,Indiana 466011 p 574.235.92211 f 574.235.9173 1 www.southbendin.gov