10-12-98 Community & Economic Development

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Qommittuu Ittport: Community and Economic Development Committee 'go Ujt Common aCountiU of t jk City of *olttb to : The October 12, 1998 meeting of the Community and Economic Development Committee was called to order by its Chairperson, Council Member Roland Kelly at 3:47 p.m. in the Council informal meeting room. Persons in attendance included Council Members: Aranowski, Pfeifer, Kelly, Broden, Varner, and Coleman; Nancy Van Scoyk, Richard Monagul, Earl Hoff, Ann Kolata, Robert Hunt,Eugenia Schwartz and Kathleen Cekanski-Farrand. Council Member Kelly noted that the first Bill to be reviewed was Bill No. 98-149 which is a request to designate the property located at 3605 West Cleveland Road an economic revitalization area for purposes of a five(5)year personal property abatement for Federal- Mogul South Bend, Inc., and Bill No. 98-150 which is a request to designate the property located at 3605 West Cleveland Road an economic revitalization area for purposes of a six (6)year real property tax abatement for Federal-Mogul South Bend, Inc. Nancy E. Van Scoyk reviewed the October 6, 1998 Community and Economic Report (copy attached) which found that the project meets the qualifications for a five (5) year personal property tax abatement and a six (6)year real property tax abatement. She noted P P P Y ( )Y p prt3' among other things that the petitioner intends to expand his existing business to an additional in-house manufacturing. The building addition is expected to cost $ 1 300 000 g g P � , and the new equipment cost is anticipated to cost$3,685,000. Mr. Richard Monagul representing Federal-Mogul South Bend, Inc.noted that they are in the business of automotive pistons and will made 12 million this year. The proposed expansion is and additional 1/7, with the new area of assembly being added. They would like to eventually provide the entire system. Currently they are the largest piston maker in the United States. The company opened in 1987 and anticipate that additional sales of$ 7,986,000 will be reached by the year 2000. Following discussion, Councilmember Pfeifer made a motion, seconded by Councilmember Broden, that Bill Nos. 98-149 and 98-159 be recommended favorably to the Common Council. The motion passed unanimously. There being no further business to come before the Committee,the meeting was adjourned at 3:55 p.m. Respectfully submitted, Roland Kelly, Chairperson Community and Economic Development Committee Attachments •