01-24-94 Human Resources & Economic Development

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Human Resources and Economic Development Committee January 24 , 1994 Page 2 Council Member Duda noted that she is aware of a group currently in Mishawaka that would be interested and would consider donating up to 50 percent of its proceeds. In response to a question raised by Council Member Ladewski, it was noted that the Vocational Technical Building would be renovated. Following further discussion, Council Member Luecke made a motion, seconded by Council Member Ladewski, that Resolution No. 94-5 be recommended favorably to Council . The motion passed. The Committee then reviewed Resolution No. 94-6 which is a tax abatement request for LA-Z-BOY. Mr. Beitzinger reviewed the January 18 , 1994 , report from the Community and Economic Development Department. It was noted that the petitioner is a retail furniture operation and plans to make improvements by replacing the roof, heating and air conditioning, and electrical systems, as well as make substantial external improvements for a total cost of $600, 000, 00. He further noted that when the Central Business District is expanded, that the petitioner would qualify for a ten (10) year real property tax abatement and without the expansion, the petitioner currently qualifies for a three (3) year real property tax abatement. Ann Kolata noted that the project is immediately outside the current boundaries. She stated that this type of development is being encouraged and recommends approval with a delay of the confirmatory resolution, similar to the Martin's request. Mr. Tom Walls, the attorney for the petitioner, stated that they are planning to proceed at a rapid pace with bids for the renovation to be taken within a week. They are hoping to begin construction by March 1st, and to complete construction by July 1st. He further noted that the original building was an A & P, and then later a Harold Medow car dealership. No changes were made to any of the improvements which are going to be done by the petitioner. He also noted that there would be a new parking lot, and that it would become a "Furniture Gallery" . He also noted that the projections for the creation of seven (7) new permanent jobs is conservative. The new facade would be cathedral in style, and he thanked the leadership of the Community and Economic Development Department.