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Community and Economic Development Committee <br /> April 25, 2001 <br /> Page 2 <br /> whether tax abatement should be provided. He also suggested corridor redevelopment and <br /> targeting special incentives which would interest businesses to locate in those areas of the city. <br /> Council Member Kirsits inquired about how many businesses would have located here if tax <br /> abatement had not been provided. He noted developments on Olive Road and reflected that that <br /> type of information should be tracked. <br /> Mr. Hunt stated that tax abatement is most effective when competition for a business is in the same <br /> basic region; since there are bigger and different issues when competing with locating here or on <br /> the east or west coast. Mr. Hunt suggested that perhaps the City should"ratchet down" the length <br /> of the abatements which would be permitted under the new state law. He also suggested that the <br /> city's regulations should address "flex buildings". <br /> Council President Pfeifer stated that perhaps the city has mixed the tax abatement"goals"with their <br /> "purposes". She also suggested that perhaps IUSB MBA students should be used to study our <br /> procedures and make recommendations. Looking at SIC codes, who qualifies, who does not <br /> qualify and where did they locate are all the types of data needed. She also raised the issues of <br /> living wages, minimum wages, and hiring persons of color and women. <br /> Council Member Kirsits stressed the need to have both infrastructure building with a dual goal of <br /> redevelopment in older areas of the city as well as new developments in green areas on the outer <br /> parts of the city. <br /> Mr. Hunt stated that his department could provide information which would provide classifications <br /> by the types of abatement provided. <br /> Council Member Ujdak summarized that the Council must know what tools the city needs in order <br /> to compete as well as developing a system which monitors abatements. Council Member Ujdak <br /> suggested that the Community and Economic Development Committee meet again on Wednesday, <br /> May 9th at 4 p.m., and requested that Mr. Hunt and his staff provide information which addresses: <br /> 1. Trends regionally and statewide <br /> 2. Major issues from a sales perspective <br /> 3. Sales which were lost and why <br /> 4. Special Exceptions over the last 5 years <br /> Council Member Ujdak further suggested that Pat McMahon be invited to a future committee <br /> meeting once the Committee has had the opportunity to review the documentation to be <br /> development by Mr. Hunt and his staff. <br /> Council President Pfeifer requested that a copy of contract used by the City of Indianapolis also be <br /> provided at the next meeting. She noted that recruitment of businesses as well as retaining <br /> businesses should be carefully studied when reviewing our tax abatement procedures. <br />