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<br /> The February 9, 2004 meeting of the Community and Economic Development Committee was
<br /> called to order by its Chairperson, Council Member Roland Kelly at 400 p.m. in the Council
<br /> Informal Meeting Room.
<br /> Persons in attendance included Council Members Kelly, White, Varner, Dieter, Puzzeho,
<br /> Kirsits,Coleman, Pfeifer, Krsits, and Kuspa; Citizen Member Andy Nemeth, Nevin J. Sequeiah,T erry
<br /> O'Brien, Jeff Myers, Richard.K. Berstein, Ken Nelson, Richard Kazinski, Leda Covington, Tom
<br /> Gerky, Jitin Kain, Larry Magliozzi, Terry Bland of the *nth 3ficra vsrtimmt, and Kathleen
<br /> Cekanski-Farrand, Council Attorney.
<br /> Council Member Kelly ] 1 1 !•1 1____ included Council Members T7• __'a_
<br /> Council Member` Kelly noted that the Committee members included Council Members Kirsits,
<br /> Coleman, Kuspa, and himself; and then welcomed new citizen member Andrew Nemeth to the
<br /> Committee meeting.
<br /> Council Member Kelly noted that the City Clerk has received a letter dated February 6, 2004 front
<br /> Richard J. Tl__t_i 1_ r Lock Joint Tube, Inc., who has requested Bill No. !�A i1A 1__
<br /> Richard J. ream, the attorney for Lock Joint f ube, Inc who has requested that Bill No. 04-24 be
<br /> postponed until the Council meeting of February 9th(copy attached).
<br /> Council Member Kirstis made a motion seconded by Council Member Kuspa that Bill No. 04-26
<br /> be continued until February 9th, at the request of the petitioner. The motion passed.
<br /> Council__t A.r t Kelly 1 called for Bill No. raw �i which r'__ (5)Council Member Kell- then called fora presentation on Bill No. 04-26 which is a five year
<br /> y p - - - � � y
<br /> 1 1 c t located 2629 Foundation_-- n_- r
<br /> personal property tax abatement request for the property located at 2629 Foundation Drive for
<br /> Value Production, Inc.
<br /> Terry J. O'Brien, an Economic Development Specialist, then reviewed his report dated February 2,
<br /> 2004 �__-_ I t� He noted �l I r__. 1• r__ I
<br /> 2004 (copy attached). He noted that the petitioner manufactures tooling for use in the aerospace,
<br /> automotive, medical and commercial markets. They plan to purchase new equipment for two (2)
<br /> mills, one(1) lathe and a wire EDM, for an estimated cost of$250,000. The report concluded that
<br /> the petitioner meets the qualifications for a five (5) year personal property tax abatement under§ 2-
<br /> 84.2 of the South Bend Municipal Code addressing tangible personal property.
<br /> Nevin J. Sequeiah,/_ T __ ]_ of Value l __ ll _ ] __ _ Inc., I 1_ the will 1
<br /> Nevin J. Sequeiah, President of value Production, I noted that h equipment will pennit his
<br /> company to compete competitively in the high tech metal industry. Once the equipment is installed
<br /> he anticipates adding a night shift.
<br /> Following_ ]�______ _ _ Council•1 a ,r_ / Kirsits t � t Council Member
<br /> Following discussion, Council Member Kirsits made a motion, seconded by Council Member
<br /> Dieter Bill AT_ �1 .•�i 1 I t favorably to Council.
<br /> Dieter that Bill No. 04-26 be recommended favorably to Council.
<br /> Council Member Kelly then called for a presentation on Bill No. 04-25 which is a ten(10) year real
<br /> property tax abatement for MVC land Development, LLC for the property located at Linden
<br /> Avenue and Clemens.
<br /> Mr. O'Brien reviewed his report dated February 3, 2004 (copy attached). He noted that the
<br /> petitioner plans to construct 120 housing units within ten(10) apartment buildings on 12.35 acres.
<br /> The buildings will have combinations of 2,3,and 4-bedroom units. The estimated cost of the entire
<br /> project will be $ 9,000,000.00. The report concluded that the petitioner meets the qualifications
<br /> for a ten(10) year real property tax abatement under§ 2-77 of the South Bend Municipal Code
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