07-28-03 Community & Economic Development

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July 28, 2003 Page 2 continued until August 11th per the letter request. The motion passed. Council Member King called for a presentation on Bill No. 03-77 which is a request of Cooreman Real Estate Group, Inc.,for a five (5) year residential real property tax abatement for the properties commonly known as the Villas at Lake Blackthorn for the properties: 6719 Blackthorn Drive or 4803 Portside Drive, 6727 Blackthorn Drive, 6735 Blackthron Drive, 6747 Blackthorn Drive or 4838 Orange Road, 6743 Blackthorn Drive or 4736 Orange Road, 6732 Blackthorn Drive, 6724 Blackthorn Drive,6716 Blackthorn Drive or 4739 Portside Drive. Economic Development Specialist Michael Beitzinger then reviewed his report dated July 23, 2003 (copy attached). Mr. Beitzinger stated that the project is an expansion of one which was approved for abatement in December 2002 when 105 single family residential lots were approved. The project is located on 56 acres directly north of Brick Road and west of the US 31 Bypass. The 2nd phase of the development will contain eight (8) new homes with a new investment to exceed$ 1.6 million. The report concluded that the petitioner meets the qualifications for a five (5) year residential tax abatement under § 2-77.1 of the South Bend Municipal Code addressing "Single Family Real Property Abatement". Steve Cooreman, President of Cooreman Real Estate Group, Inc., made the presentation. He noted that 114 villas were proposed with 105 already receiving tax abatement consideration. The Area Plan Commission is requiring a replat. The villas will range in price from $ 150,000 to $ 400,000. He noted that tax abatement has been a"tremendous marketing tool". In light of the new jobs being created in Blackthorn the residential proposal would be a great compliment. Mr. Cooreman then introduced Marsha Hillaman who is the Marketing Director for the project. No one from the public spoke in favor or in opposition to the Bill. Council Member Aranowski spoke in favor of the project and noted his appreciation for the growth on the northwest side of the city. He also noted that the bridge renovation in the area is "gorgeous". Following discussion, Council Member Kelly made a motion, seconded by Dr. Varner that Bill No. 03-77 be recommended favorably to Council. The motion passed. Council Member King then called for a presentation on three (3) bills which would have separate motions after a combined public hearing this evening. The three (3) bills were: Bill No. 55-03 which would appropriate the proceeds derived from the St. Joseph County Economic Development Income Tax in the amount of $ 1,000,000 within the State Grants Fund (Fund 210) for the purpose of financing the costs of rehabilitation of property connected with the Robert Bosch Corporation Retention Project; Bill No. 56-03 which would appropriate the proceeds derived from the Robert Bosch Braking Corporation in the amount of$ 1,500,000 within the State Grants Fund (Fund#210) for the purpose of financing the costs of rehabilitation of property connected with the Robert Bosch Corporation Retention Project; and Bill No. 57-03 which would appropriate the proceeds derived from the Indiana Development Grant Fund in the amount of$ 1,000,000 within the State Grants Fund (Fund # 210) for the purpose of financing the costs of rehabilitation of property connected with the Robert Bosch Corporation Retention Project. Robert D. Case, Senior Economic Development Planner, made the presentation on the Bills. He noted that Bill No. 56-03 involved part of the$4 million loan to Bosch and that Bill No. 57-03 if Community and Economic Development Committee