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CITY OFSOUTH BEND OFFICE OF THE CLERK project will jump start development at this intersection and offer opportunities to expand job growth in this corridor between the University of Notre Dame and downtown South Bend. Dur to the fact that construction costs are currently very high, and the very restrictive guidelines of the NNZO,that just adds additional building costs to this project. The site has also been quite difficult to develop due to its odd shape. We want to,with this project,attract startup companies so we need to keep the lease rates reasonable. We believe that this project will contribute not only to the commercial tax base, but also to the vitality of our City. For these reasons, we are asking for this tax abatement. And now I would like to introduce Pat Matthews, the developer to get into a little bit more of the details about the project, unless anyone has any questions for me. Councilmember Karen White stated, I just have one(1) question. Can you speak to, or maybe this is something for the developer but, the residential piece, and what that's going to look like? Also, as we are looking at rolling out our disparity study here shorty from the City, what are your plans to utilize minority contractors in the overall development? Mr. Patrick Matthews,52127 Fall Creek Drive, Granger, IN stated, I'll just cover a couple of bullet points, and then I'll follow up on all your questions. I'm one (1) of the project developers. This project will be a signature building, and complimentary to the Eddy Street corridor. Some highlights include twenty-eight thousand (28,000) square feet, with off street parking. Four (4) stories, two (2) residential units on the top floor. We're working with several proposed tenants. We're experiencing a high demand for office space from university-based research companies that have graduated from their incubator space in Innovation Park. This will be class A office space. It will be sufficient enough to house multiple companies with five (5) to thirty (30) employees in high tech and local university research. We expect these jobs to average sixty-five thousand dollars ($65,000) with a diverse group of employees representing the community as a whole. This is an exciting project, but there a plethora of hardships that we will encounter. The project will be difficult to build due to the unsightly, adjacent high power lines, which are not represented in this beautiful rendering. We're encountering additional construction costs due to the non-uniform shape of the parcel. It' a very tight triangle, and due to the shape of the building. Water retention will become an excessive cost due to the lot constraints. Underground utilities and easements further constrict the site and add additional time and cost to the project. Additionally, we're competing with other projects that have already received incentives from the City. This will be an owner-occupied building. This development will bring new companies and jobs to the area. By granting the tax abatement, this project will jump-start development on the southside of South Bend Ave. We will most likely be unable to proceed if we're unable to receive a tax abatement, and we appreciate your consideration. Did that answer your questions? Councilmember Karen White replied,Yes, it did answer the first part, and I appreciate that,but in terms of building the actual building, what is your commitment to using minority contractors? Mr. Matthews replied, The construction company will put out the bids to all available contractors who would like to bid on the contract. Committee Chair, Gavin Ferlic asked if there was anyone from the public wishing to speak either in favor of or against Bill No. 19-57. EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT 455 County-City Building 227 W.Jefferson Bvld!South Bend,Indiana 46601 p 574.235.9221 f574.235.9173 TTD 574.235.5567 www.southbendin.gov 7