10-28-2024 Common Council Meeting Minutes (Signed)

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REGULAR MEETING October 28, 2024 RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 321 WEST WAYNE STREET, SOUTH BEND, INDIANA 46601 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN-YEAR (10) REAL PROPERTY TAX ABATEMENT FOR HISTORIC HEARTHSTONE LLC Clerk Tirado read the resolution to the Council. Council President McBride asked for a committee report. Councilmember Warner stated that this Bill was heard in the Community Investment Committee and comes to the Full Council with a favorable recommendation. Mark Bemenderfer, Business Development Manager, with offices on the 141h floor of the County-City building, presented Historic Hearthstone LLC. This abatement aims to transform the site into a mixed-use development, featuring a restaurant as the anchor tenant, along with office spaces for Indiana Landmarks and South Bend Trademarks. The total investment is projected to be two point five ($2,500,000)million dollars. Currently, the tax impact stands at four thousand six hundred and thirty-six ($4,636) dollars, with an estimated future tax impact of fifty-five thousand three hundred and ninety-six($55,396) dollars. The project includes four hundred seventy-one thousand two hundred and forty-eight ($471,248) dollars in tax abatement and eighty-two thousand seven hundred and thirteen ($82,713) dollars in taxes to be paid. Councilmember Rachel Tomas Morgan asked to clarify the timeline for the beginning of construction. Regina Emberton, the petitioner at 615 West Colfax Avenue, South Bend, IN 46601, announced that construction will begin immediately, with plans to open by the summer season and be fully operational by the end of 2025. Councilmember Tomas Morgan expressed gratitude for their investment in the community. Council President McBride held the public hearing, and nobody spoke. Council Vice President Niezgodski motioned for the adoption of Bill No. 24-35, seconded by Councilmember Tomas Morgan, and carried by a vote of nine(9) ayes. Council President Sharon McBride—Aye Council Vice President Sheila Niezgodski—Aye Councilmember Canneth Lee—Aye Councilmember Ophelia Gooden-Rodgers—Aye Councilmember Troy Warner—Aye Councilmember Sherry Bolden-Simpson—Aye Councilmember Dr. Oliver Davis—Aye Councilmember Karen L. White—Aye Councilmember Rachel Tomas Morgan—Aye 24-36 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, CORRECTING SCRIVENER'S ERROR IN RESOLUTION NO. 5096-24 DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 123 NORTH DR. MARTIN LUTHER KING JR. BOULEVARD, SOUTH BEND, INDIANA 46601 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A NINE-YEAR (9) REAL PROPERTY TAX ABATEMENT FOR AFP I I I CORPORATION Clerk Tirado read the resolution to the Council. Council President McBride asked for a committee report. 7