11-23-92 Human Resources & Economic Development

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Human Resources and Economic Development Committee November 23, 1992 Page 2 Following further discussion, Council Member Slavinskas made a motion, seconded by Council Member Duda, that Resolution No. 92-82 be recommended favorably to Council. The motion passed. The Committee then reviewed Resolution No. 92-83 which is a ten year real property tax abatement request for Lock Joint Tube Inc. located at 1400 Riverside Drive. Mr. Mike Beitzinger then reviewed the report from the Department of Economic d November 16, 1992(copy attached). Development dated { PY Mr. Mike Kaiser of Lock Joint Tube noted that volume has increased resulting in increased expansion needs. Seventy new jobs have been added since March of this y ear. Without the tax abatement he notes that seventy jobs would have been eliminated. Following further discussion, Council President Luecke made a motion, seconded by Council Member Duda, that Resolution No. 92-83 be recommended favorably to Council. The Committee then reviewed Resolution No. 92-84 which is a tax abatement request for five years of personal property tax abatement for Mac Tool and Engineering Inc. located at 2820 Viridian Drive. Mr. Mike Beitzinger reviewed the Department of Economic Development report dated November 6, 1992. Mr. Melvin Hartz then showed prototypes to the Council which are made by the company. He noted that the company is 4 1/2 years old and that 60% of their business is exported to areas outside of the area. Following further discussion, Council President Luecke made a motion, seconded by Council Member Slavinskas, that Resolution No. 92-84 be recommended favorably to � Council. The motion passed. There being no further to come before the Committee the meeting was adjourned at 5:50 p.m. j:. Respectfully submitted, Council Member Rolland Kelly Chairperson,Human Resources and Economic Development Committee attachments 9