02-12-96 Community & Economic Development

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Committee Report . Community and Economic Development February 12, 1996 Page 2 He noted that the petitioners are purchasing a one acre site to relocate their business commonly known as Champion Soft Water Company which currently located in Roseland. Estimated cost of the new building is $178, 800.00. the petitioner qualifies for a 3 year Real Property Tax Abatement. Mr. Pryor was then introduced and stated that he is looking forward to relocating his business to the city limits. Council Member Washington spoke in favor of the proposed tax abatement request. Following discussion, Council Member Luecke made a motion, seconded by Council Member Zakrzewski, that Resolution No. 96-10 be recommended favorably to Council. The motion passed. The Committee then reviewed Resolution No. 96-11 which is a 5 year Personal Property Tax Abatement request for the property located at 325 South Walnut.Mr.Mike Beitzinger reviewed the report dated January 30, 1996 (copy attached). He noted that the petitioner, Masterbilt,Inc.is a machine shop which supports the Aerospace Industry. The equipment is estimated to cost $105, 000.00. The petitioner meets the qualifications for a 5 year Personal Property Tax Abatement. Mr. Bob Michalak and Larry Kawalewski then gave additional information to the Committee.They noted that their company is eager to start.In response to a question raised by Council Member Luecke it was noted that the life expectancy of the equipment is projected to last over 10 years. Following discussion, Council Member Zakrzewski made a motion, seconded by Council Member Luecke, that Resolution No. 96-11 be recommended favorably to Council. The motion passed. The Committee then reviewed Resolution No. 96-12 which is a 5 year Personal Property Tax Abatement request for the property located at 3431 William Richardson Drive. Mr. Mike Beitzinger reviewed his report dated February 16, 1994, (copy attached). He noted that the Council adopted Resolutions for this project in 1994, however the property location at that time was 3600 McGill Street and that they were relocating to 3431 William Richardson Drive. As a result of their relocation for Midwest Embroidery Inc. a new Resolution reaffirming the designation must be made. Mr. Steve St. Clair noted that the equipment in question is approximate $621, 000.00 which they have purchased to date.They have 92 jobs 18 of which are new and will create 4 to 5 new ones this year.They are 19% over the estimated payroll projections which they gave the Council in 1994.They hope to have 120 jobs by April 1st of this year.Ann Kolata spoke in favor of the Resolution and Mr. Bob Hunt also spoke in favor of the Resolution noting that this is a very strong growth industry.