03-22-04 Community & Economic Development

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S, John Haughton,Project Manager and Manager of Logistics for Cequent,stated that he was not the individual who actually filled out forms to request a tax abatement,and that it"just made[him]sick to learn"that the building permit had been pulled prematurely. Council Member Coleman stated that it was a good thing that he was not the same individual who was part of the application process because this demonstrates communication breakdown, not intentional misconduct. Council Member Kelly stated that the size of the project and the benefit to the community must be considered when determining the waiver. Mr.Jeff Kelsey of Price Waterhouse,then stated that it was Larry Cramer from the Cleveland office who worked with the Redevelopment Department to submit the application for tax abatement. This occurred in December 2003 and early winter after which Mr. Cramer suddenly terminated his employment, and the Price Waterhouse staff"scrambled to pick it up from him." Mr. Kelsey believes this may have caused the"crossed wires"because the Price Waterhouse offices were in two different locations. Mr. Kelsey further explained that the permit that was pulled was for a $12,800 project improvement. Council Member Varner suggested that the Council eliminate tax abatement for that portion of the project as to which the building permit was pulled, i.e. $12,800, and grant the waiver and tax abatement for the remainder of the project. It was moved and seconded that Bill No.04-35 (waiver)be approved as amended to authorize waiver as to all but$12,800 of the total project. It was further moved and seconded that Bill No.04-36 be approved as substituted to approve tax abatement as to all but$12,800 assessed property valuation which would not qualify for abatement due to non-compliance with Indiana Code. Both motions passed unanimously. B. Bill 15-04- The Pointe at St. Joseph Apartments-Multi-Family Housing Attorney Randy Rompola, Baker and Daniels, made the presentation to the Committee and stated that Attorney Ken Fedder would make the evening presentation to the full Council at its public hearing. Mr.Rompola explained that these were refinancing tax exempt bonds which were originally issued in 1988 and were later re-funded in 1994 and 1999. This is a request to refinance yet another time. Mr.Rompola recently spoke with the borrower and if all works according to plan,the financing can be closed around the first of April 2004. It was moved and seconded that Bill No. 15-04 go to the full Council with a favorable recommendation. This motion passed unanimously. There being no further business to come before the Committee,the meeting was adjourned at 3:54.p.m., Respectfully submitted, Council Member Roland Kelly, Chairperson Community and Economic Development Committee AMD/cw Attachments Page-2-