05-09-94 Community & Economic Development

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smatrammel COMM Mu Ztport: Community and Economic Development Committee to the common COUItuUY Of Ott 1 ttt of fo ut1j *Stab': The May 9, 1994 meeting of the Community and Economic Development Committee was called to order by its Chairperson Council member, Roland Kelly at 4:30 P.M.in the Council informal meeting room. Persons in attendance included Council Members: Kelly, Coleman, Luecke, Washington,Duda, Ladewski, Puzzello, and Zakrzew ski; Ken Fedder, Pam Meyer, Mike Beitzinger,Richard Allen,Don Porter,Ernest Szarwark, and Kathleen Cekanski-Farrand. Council Member noted that the first item to be reviewed was substitute Bill No. 47- 94 which would authorize the City to issue multi-family housing revenue refunding bonds (copy attached). Mr. Fedder made the presentation. He noted that the Economic Development Commission sends it with a favorable recommendation. The maturity date on the bonds would be the year 2018. In response to a question raised by Council Member Washington,it was noted that the savings on refunding the bonds would be substantial. Following discussion, Council member Ladewski made a motion, seconded by Council Member Luecke that substitute Bill No. 47-94 be recommended favorably to Council.The motion passed. The Committee then reviewed Resolution No. 94-41 which is a ten year Real Property Tax Abatement request for Richard Allen for the property located on the North East corner of Main and Broadway. Mr. Mike Beitzinger reviewed the report from the Community and Economic Development Department dated April 13, 1994(copy attached) recommends adoption of the proposed Resolution since the petitioner meets all of the criteria. Mr. Richard Allen, the petitioner, then made a further presentation. He noted that the incentive to locate the business here was because of the Tax Abatement. He noted that he grew up in South Bend but currently lives in California. He noted that the building he is proposing is a "Spec" building which will be built in two phases. Council Member Coleman spoke in favor of the program. Council Member Kelly also spoke in favor of the program. Following discussion, Council Member Luecke made a motion, seconded by Council Member Ladewski, that Resolution No. 94-41 be recommended favorably to Council.The motion passed. The Committee then reviewed Resolution No. 94-42 which is a Real Property Tax Abatement request for Manufacturing Technology Inc. and Resolution No. 94-43 which is a Personal Property Tax Abatement request for Manufacturing Technology Inc., both of which would be located at 1702 West Washington Street. Mr. Ernest Szarwark made the presentation. He noted that he is withdrawing the Real Property Tax Abatement request (Resolution No. 94-42). Mr. Beitzinger noted that the petitioner meets all of the requirements for a'five year Personal Property Tax Abatement.