06-27-05 Community & Economic Development

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, • Don Inks spoke in favor of all three(3)tax abatement resolutions coming before the Committee. He noted that Steel Warehouse is a long-term investor in our community which may have re-invested the most in South Bend. All three (3) abatements represent our community very well. Council Member Kuspa then made a motion, seconded by Council Member Kelly that Substitute Bill No. 05-76 be recommended favorably to Council. The motion passed. Council Member Punnello then called for a presentation on Bill No. 05-77 which would extend a five (5) year personal property abatement for Hoosier Tank & Manufacturing, Inc which is located at 1710 North Sheridan Street(copy attached). Tedd Schaffer reviewed his report dated June 15, 2005 (copy attached). He noted that the Council adopted Resolution No. 3213-03 on July 28, 2003; and that a reconfirming resolution was approved on April 11, 2005, in light of their new location. This resolution would extend the abatement for one(1)year. Thomas Kinnucan made the formal presentation. He noted that Hoosier Tank has continued to grow and gain market share in the trailer industry. As a result they needed more manufacturing space. At the end of 2004, the estimate of$250,000 of new equipment was actually $394,000 through February 28th. An additional $165,000 of equipment was put in place to date. Hoosier Tank anticipates spending an additional $400,000 in the next year. The year extension would permit all purchases to be made prior to July 28, 2006. They have grown from 54 employees to 71 employees with 8 more in training. Council Member Kelly made a motion, seconded by Citizen Member Lewis that Bill No. 05-77 be recommended favorably to Council. The motion passed. Under miscellaneous business, the Council Attorney noted that at the last Committee meeting Dr. Varner suggested that there be a process developed to help assure that accurate information on residential tax abatement be given out by developers to prospective home purchasers. Draft documents have been discussed, however they are still be revised. She will continue to work with Council Members Varner and Puzzello and the Department of Community and Economic Development on this. The Administration has agreed to update developers of this. There being no further business to come before the Committee, Council Member Puzzello adjourned the meeting at 4:47 p.m. Res■- tfully subm -d, MembeAnn 'di-llo Chi rson Community and Economic Development Committee KCF:kmf Attachments June 27,2005 Community and Economic Development Committee meeting of the 2005 South Bend Common Council -page 3-