02-10-03 Community & Economic Development - Amended

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Community and Economic Development February 10, 2003 Page 3 Under the public portion, Pat McMahon of Project Future, complimented the Council for addressing complex issues. He believes that this ordinance will be a model for other communities to emulate. He noted that the ordinance explains what is important to the Council. He then asked about personal property tax abatement, noting that AM General got a ten (10) ear property tax abatement. He suggested that enlargement of personal pro b personal considered especially for very large projects. PertY abatements be Mark Eagan of the Chamber of Commerce stated that the proposed ordinance addresses many concerns which will serve the community well. Abatement is often a key ingredient for development. No one from the public spoke against the Bill. Council Member King then asked Don Inks about the personal property tax abatement question which was raised by Mr. McMahon. Don Inks stated that that would be a policy decision and perhaps guidelines could be establis addressing projects of$50 million or greater. hed Council Member Coleman stated that he wanted to bring this concern to the attention of the Council and that he hoped it would be addressed at a later date. Council Member Pfeifer stated that she shares the same concern as Council Member Coleman. Following discussion, Council Member Kelly made a motion, seconded by Council Member Kuspa that Bill No. 5-03 be recommended favorably to Council. The motion passed. Under miscellaneous business, Council Member King noted that he would like a correction made to the January 27th Committee meeting minutes, noting that he is referenced and that he was not present. There being no further business to come before the Committee, Council Member Kin the meeting at 5:20 p.m. g adjourned Respectfully submitted, Council Member Karl King, Chairperson Community and Economic Development Committee KCF:kmf Attachments