05-20-91 Human Resources & Economic Development

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Y Human Resources and Economic Development Committee May 20, 1991 Page 2 utilized by Meanwhile's. He noted that the property in question has been vacant for at least three years. Mr. Mitchell introduced Mrs. Fran Hunjo, of the Academy Beauty College, who would be the main tenant in the basement and the first floor area. The Academy would be leasing 10,050 square feet of the total 15, 000 square feet available. He stated that in light of the fact that the Petitioner will meet the 75% retail requirement and having the facility vacant for over one year, that he should qualify for a ten year real property tax abatement. Council Member Luecke noted that he had met with the Council Attorney prior to this, to draft the new Amended Resolution. At that time the Council Attorney noted that they were unaware that the Petitioner would meet the 75% retail requirement. In light of the figures presented, the Petitioner would qualify for the then existing tax abatement requirements for a ten year real property tax abatement. Following further discussion, Council Member Slavinskas made a motion seconded by Council Member Duda that the Resolution be amended to delete the six year language in the title and in Section II, and to replace it with ten years. The motion passed. Council Member Slavinskas then made a motion seconded by Council Member Duda that Amended Resolution No. 91-26 be recommended favorably to Council. The motion passed. Fran Hunjo noted that approximately 1,500 would go through the Academy Beauty College, which is affiliated with Ivy Tech, on a yearly basis. There being no further business to come before the Committee, the meeting was adjourned at 5: 05 p.m. Respectfully submitted, Council Member Steve Luecke, Chairperson Human Resources and Economic Development Committee attachments