04-09-01 Community & Economic Development

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} Community and Economic Development Committee April 9, 2001 Page 2 Cassandra Moran reviewed her report dated April 4, 2001 (copy attached). She noted that the petitioner is engaged in the lithography and printing industry. The company plans to purchase one (1) new offset printing press and two(2) new bindery machines for an estimated cost of $ 3,150,000.00. She concluded that the petitioner meets the qualifications for a five (5) year personal property tax abatement under § 2-84.2 of the South Bend Municipal Code addressing "tangible personal property tax abatement". Rick Deahl made the presentation for the petitioner. He noted that the new equipment would keep the company competitive in its field. Dr. Varner noted that the assessed value would go from $32,000 to $420,000 with the abatement, and therefore he would be supporting it. Council Member Ujdak made a motion, seconded by Dr. Varner that Bill No. 01-25 be recommended favorably to Council. The motion passed. The Committee then reviewed Bill No. 01-27 which is a Five (5) year residential real property tax abatement request for the properties located at 138, 701 and 705 Broadway requested by the City of South Bend Board of Public Works and American Home Dreams, Inc. Cassandra Moran reviewed her report dated April 4, 2001 (copy attached). American Home Dreams, Inc. Proposes to construct three (3) homes of 1,800 square feet each with each having a sales price of$ 110,500.00. The homes will be available to low and moderate income first time home buyers. She noted that the project meets the qualifications for a five(5) year residential real property tax abatement under§ 2-77.1 of the South Bend Municipal Code. Marco Mariani of the Community and Economic Development Department noted that the development will take place on lots 48, 49, and 50 all of which have gone through the replat process. Rick Milton spoke on behalf of American Homes Dreams and in response to a question from Council Member White noted that there are a total of fifty(50) homes constructed. Council President Pfeifer commended the project. The Council Attorney noted that she worked closely with Jon Hunt on this project to make sure that the replat process was complete before action would be taken on the tax abatement requests. Following discussion, Council Member Varner made a motion, seconded by Council Member Kirsits that Bill No. 01-27 be recommended favorably to Council. The motion passed. The Committee then reviewed Bill No. 01-28 which is a three(3) year real property tax abatement request for the property located at 3801 Voorde Drive requested by Koontz-Wagner Electric Company, Inc. Cassandra Moran reviewed her report dated April 4, 2001 (copy attached). She noted that the petitioner proposes to expand the existing business to include 15,100 square foot addition to the building. The addition is necessary in light of the strong growth for package control rooms manufactured by the Custom Controls Division. Cost of construction is projected to be $700,00.00. She further noted that the petitioner would like the Council to consider a six(6) year abatement under the special exception provisions of the local ordinance.